Consensus

Prior the the publication of the quarterly results, Deutsche Telekom provides a detailed consensus for the upcoming quarterly results, the current financial year and the next four years.

The following consensus numbers are still as of July 21, 2025, 17 days before the Q1 results but will be updated for Q2 by last week of July latest.

Deutsche Telekom will start to collect the usual sell side analyst estimates for Q2/2025 on 1^st of July 2025.

The following points DT has given analysts to remind when compiling their projections:

• Net debt effects
  • FX: FX: As always please keep in mind that each 1cent move in the $US between balance sheet dates corresponds to approximately €1bn change in net debt. The $US exchange rate was 1.082 at 31 March 2025.
  • DT buyback: In Q2 we spent approx. 0.5bn €.
  • DT dividend: €4.4bn paid in Q2
  • TMUS shareholder returns: TMUS has announced $14bn of shareholder returns in 2025, split into dividends and share buybacks. In Q2 TMUS paid 0.5bn US$ of dividends to third parties and 0.5bn US$ to DT. On 12 June we started to sell into the TMUS SBB. On 17 April DT’s stake was 51.8%.
  • M&A: TMUS announced the closing of the Lumos transaction in Q2/25. T-Mobile invested approx. €0.8bn into the joint venture.
• Other
  • Please also note that TMUS will report their Q2 results on July 23rd.

Please see detailed time schedule for compilation of consensus

Consensus files for previous quarters are available on the page for the quarterly results and the download page.