Deutsche Telekom's Q1-2025 investor conference call

Описание: CEO Tim Höttges and CFO Christian Illek present DT's Q1 2025 results for investors and answers questions on May 15, 2025.

0:00:00 Start
0:00:35 Beginning of the call
▬▬▬▬▬ Presentation ▬▬▬▬▬
📣 Tim Höttges (CEO)
0:01:15 Q1/25 consistent reliable growth (p#4)
0:03:05 Financial Q1/25 organic (p#5)
0:03:34 Networks (p#6)
0:04:52 AI and Digital (p#7)
0:07:56 Customers (p#8)
0:11:19 ESG (p#9)
0:11:36 Guidance 2025 (p#10)
📣 Christian Illek (CFO)
0:12:46 US: Financial growth (p#12)
0:13:39 US: Customer growth(p#13)
0:14:35 DE: EBITDA growth (p#14)
0:15:40 DE: Service revenues (p#15)
0:17:00 DE: Fixed revenues (p#16)
0:17:46 DE: Fixed KPIs (p#17)
0:19:21 DE: Mobile KPIs (p#18)
0:19:47 EU: Financials (p#19)
0:20:13 EU: Commercial KPIs (p#19)
0:20:40 Systems Solutions (p#21)
0:21:24 Financial Q1/25 reported (p#22)
0:22:15 FCF AL and adj. net profit (p#23)
0:22:54 Net dept (#24)
0:23:44 Q1/25 Key messages (p#26)

▬▬▬▬▬▬▬ Q&A ▬▬▬▬▬▬▬
Questions were answered by Tim Höttges (CEO), Christian Illek (CFO) and Hannes Wittig (Head of IR)
0:25:16 1. 🙋‍♂️ Mathieu Robillard (BarCap)
-TMUS: Lumos acquisition + FTTH; interest in cable or satellite
-DE/fixed/broadband: ARPA growth when no growth in subscribers
0:30:28 2. 🙋‍♂️ Joshua Mills (Exane)
-DE/broadband: Price increases to monetize FTTH?
-DE/mobile: value over volume or vice versa?
0:39:25 3. 🙋‍♂️ Adam Fox-Rumley (HSBC)
-DE/broaband: What has changed with the shift to ‘value over volume’?
-DE/FTTH: Did overbuilders stepped up in 2025?
0:42:50 4. 🙋‍♂️ Akhil Dattani (J.P. Morgan)
-DE/mobile/pricing: looks like volume over value; is marginal pricing too aggressive?
-EU/consolidation: is a bigger European footprint necessary? Relevant with respect to data sovereignty?
0:48:23 5. 🙋‍♂️ Polo Tang (UBS)
-DE/new government: impact of stimulus on 2025?
-DE/broadband: exclusive in multi dwelling units?
0:52:29 6. 🙋‍♂️ Carl Murdock-Smith (Citi)
-DE/fixed/service revenue: orderbook visibility in IT business
-TMUS: level of appetite for hosting cable MVNOs?
0:56:26 7. 🙋‍♂️ Andrew Lee (Goldman-Sachs)
-US/market growth: has the outlook for the market or for TMUS changed?
-Capital allocation: TMUS stake building vs DT share buyback
1:01:21 8. 🙋‍♂️ Ottavio Adorisio (BersteinSG)
-DE/personell costs: will pressure from tariff increases be offset?
-DE/fixed/wholesale: why are revenues above guideance?
1:04:57 9. 🙋‍♂️ James Ratzer (Newstreet Research)
-DE/mobile: Market growth for all players in postpaid contracts?
-DE/fixed/MDUs: what are the specific actions to improve growth and willing to wholebuy?
1:10:57 10. 🙋‍♂️ Steve Malcolm (Redburn)
-DE/fixed/wholesale: what are volume and pricing the trends?
1:12:10 11. 🙋‍♂️ Emmet Kelly (Morgan Stanley)
-DE/workforce: what to expect with respect to reduction + new hirings?
1:13:29 12. 🙋‍♂️ Robert Grindle (Deutsche Bank)
Towers: carve-out still planned in EU?