Financial Results

Disclaimer for analysts' estimates

The Consensus has been issued by Deutsche Telekom AG for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding our revenues, earnings and business developments. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Deutsche Telekom gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.

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This all-in-one document contains all relevant Q4 documents (Annual group report, media information, presentation and backup):

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 all-in-one This all-in-one document contains all relevant Q3 documents (interim report, presentation, backup, media information):

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• Net revenue of the Group up by 0.8 percent in the third quarter and, for the first time, more than 60 percent of revenue generated abroad
• Adjusted EBITDA down by 1.8 percent due to high market investments
• Capital expenditure up by more than 10 percent
• Guidance confirmed for the full year
• Telekom extends market leadership in service revenues in German mobile communications compared with the prior year
• Record branded postpaid customer growth at T-Mobile US
• Europeincreases adjusted EBITDA by 35.7 percent

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• T-Mobile US exceeds the 50-million customer mark and raises guidance on customer figures for the full year
• Germany business strong in mobile communications and VDSL roll-out areas
• Europe increases profitability and efficiency
• Revenue down 0.3 percent in the quarter to EUR 15.1 billion, adjusted EBITDA up 0.3 percent to EUR 4.4 billion
• Capital expenditure up again by 6.2 percent in the second quarter

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• 8.0 percent to EUR 14.9 billion
• Adjusted EBITDA down 3.9 percent as a result of market investments in
  the U.S.
• Net profit more than tripled to EUR 1.8 billion due to partial sale of Scout24
• T-Mobile US with 1.3 million new branded postpaid customers; total net
  additions of 2.4 million
• Record number of VDSL and FTTH fiber-optic lines in Germany
• Europe accelerates network build-out and drives forward revenue
  transformation

 all-in-oneThis all-in-one document contains all relevant Q4 documents (presentation, backup, media release, annual report):
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• 2013 financial targets met with adjusted EBITDA of EUR 17.4 billion and slightly exceeded with free cash flow of EUR 4.6 billion
• Adjusted net profit up 8.6 percent
• Net revenue up 3.4 percent, in organic terms up 0.8 percent
• Revenue growth and EBITDA of EUR 17.6 billion forecast for 2014
• Business in Germany delivers sound figures and extends market lead in mobile communications
• Europe drives forward growth areas
• T-Mobile US with 4.4 million new customers in 2013
• IT costs in Germany down EUR 0.35 billion

 all-in-oneThis all-in-one document contains all relevant Q3 documents (presentation, backup, media release, interim report):
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• Net revenue up 6.0 percent to EUR 15.5 billion, organic revenue growth of 2.4 percent
• Adjusted EBITDA down 2.6 percent to EUR 4.7 billion, trend improved compared with the first half of the year
• Turnaround achieved in the United States, deluge of more than a million new customers
• Business in Germany stable
• Europe feeling the strain of regulation, upward trend in growth areas
• Steady increase in T-Systems' profitability

• Revenue up +5.4% to € 15.2 billion (+4.5% or € 650 million above consensus of € 14.5 billion) driven by first time consolidation of MetroPCS. Organic revenue growth of +2.1% (excl. consolidation and currency)
• Adj. EBITDA decline -6.0% to € 4.4 billion (in line with consensus of € 4.4 billion) reflects higher market invest in the US
• FCF down -33.5% at € 1.1 billion (-2.4% or 30 million below consensus of € 1.1 billion) driven mainly by higher Cash Capex of € 2.1 billion or +27.3%
• Germany: Return to underlying mobile service revenue growth (+1.0%) against negative market trend - outperfroming competition!
• USA: Turn around in customer net additions: +1,130k mobile customers, branded postpaid customers +688k, branded postpaid churn at record low level of 1.6%

• Group: Strong mobile net adds in Germany and the US, good TV and Fiber net adds in Germany and Europe
• Group: Revenue decreased 4.5% to 13.8 billion € reflecting ongoing regulatory and economic pressure in Europe and challenger strategy in the US
• Group: Adj. EBITDA of €4.3 billion (-4.3%) reflects different seasonal pattern of EBITDA development compared to last year – adj. net income grows 31%
• Group: Full year outlook confirmed
• DE: Underlying mobile service revenue trend improved to -0.1% - return to positive underlying growth expected for 2013.
• DE: Growth in key areas: 441k mobile contract net adds, 70k TV net adds and 156k fiber net adds (incl. wholesale)
• DE: Solid revenue trend (-1.6%) in Q1/13; adj. EBITDA-margin at 40.5%
• USA: Growth in key areas: +579k mobile customers, branded customer losses stopped, branded postpaid churn down 60bps to 1.9%
• USA: Adj. EBITDA in US-$ -9% but margin at 25% level
• USA: Successful uncarrier and iPhone launch
• EU: Growth in key areas: 72k mobile contract customers, 72k TV customers, 59k broadband customer net adds
• EU: Revenues impacted by 2.5x higher negative regulatory effect than in Q1/12. Revenues down by -6.9%
• T-Systems: Adj. EBITDA +23% due to cost reduction – margin improved to 7.5%

• Adjusted EBITDA of EUR 18.0 billion and free cash flow of EUR 6.2 billion
• Stable dividend proposed of 70 euro cents per share
• Growth in optical fiber and smartphones in Germany
• European business convincing in a peer comparison
• Customer numbers up at T-Mobile USA for the first time since 2009
• Order entry and margin up at T-Systems
• Outlook for 2013 confirmed
• Net debt down EUR 3.3 billion to EUR 36.9 billion

• Guidance for the full year and dividend statement confirmed
• Revenue remained at the prior-year level at EUR 14.7 billion
• Free cash flow up 37 percent to EUR 2.3 billion
• Adjusted net profit stable on a like-for-like basis
• Non-cash special accounting factor following MetroPCS deal reduces reported net profit to minus EUR 6.9 billion
• Debt reduced by EUR 2 billion in the quarter
• Strong growth in Entertain users, VDSL lines and mobile contract customers in Germany
• Customer numbers up at T-Mobile USA

• Q2 EBITDA nearly 3% above consensus. Q2 FCF 10% above consensus. Well on track for FY guidance.
• Full year guidance fully reiterated. Shareholder remuneration commitment fully reiterated.
• CEO René Obermann: "We are keeping our word and providing a good deal of reliability to the market with very solid figures."
• Q2 Net income +76% y.o.y.
• DE mobile service revenue growing ex Drillisch effect. Excellent operatinals: DE line losses -20% y.o.y. on record low (-236k). DE Entertain +41% y.o.y. Mobile contract net adds +464k.
• Churn rate of contract customers in USA down to 2.1% from 2.6% a year ago

• Adjusted EBITDA of EUR 4.5 billion at prior-year level
• 1.1 percent decrease in revenue in first quarter to EUR 14.4 billion
• Free cash flow almost 6 percent higher than prior-year figure at EUR 1.1 billion
• 17 percent decrease in adjusted net profit
• Net debt reduced by more than EUR 3 billion in 12 months
• Strong customer growth for Entertain
• Stabilization in Europe, slight growth in U.S.
• Guidance for the year confirmed

• Adjusted EBITDA of EUR 18.7 billion and free cash flow of EUR 6.4 billion including negative exchange rate effects
• Excluding regulatory decisions, net revenue down organically by 2.5 percent to EUR 58.7 billion
• Adjusted EBITDA margin up by 0.5 percentage points to 31.8 percent based on the same composition of the Group
• Mobile Internet, IP-TV, and smartphone segments showing continued growth
• T-Mobile USA to launch LTE in 2013
• Proposed dividend remains stable at 70 euro cents per share for the 2011 financial year
• Guidance for the 2012 financial year: adjusted EBITDA of around EUR 18 billion and free cash flow of around EUR 6 billion

Deutsche Telekom met its financial targets for the 2011 financial year despite a difficult business environment for the telecommunications industry as a whole. Adjusted EBITDA was EUR 18.7 billion, with a EUR 0.2 billion negative impact owing to changes in exchange rates. Adjusted for this exchange rate effect included in the forecast, the Group's adjusted EBITDA was EUR 18.9 billion, while Deutsche Telekom's guidance for the year was around EUR 19.1 billion. Exchange rate fluctuations had a EUR 0.1 billion negative impact on free cash flow. The reported figure of EUR 6.4 billion hence corresponds to the forecast figure of EUR 6.5 billion. The Supervisory Board and the Board of Management will propose to the shareholders' meeting on May 24 a stable dividend of 70 cents per share, corresponding to a payout rate of 47 percent of free cash flow.

"In 2011, the Company operated in a challenging environment in every respect, a situation that is not going to change this year," commented René Obermann, Chairman of the Board of Management of Deutsche Telekom. "Our capacity for innovation, cost discipline, and readiness for change are vital assets as we prepare to master these challenges in 2012, too."

• Revenue from continuing operations down by 4.1 percent in the quarter to EUR 11.0 billion
• Successful cost-cutting in the third quarter leads to increase in EBITDA margin by 0.5 percentage points
• Adjusted EBITDA from continuing operations falls 2.7 percent to EUR 3.9 billion
• Net profit up 14.6 percent to EUR 1.1 billion
• High adjusted EBITDA margin in Germany of 41.5 percent

Deutsche Telekom has confirmed its financial targets for the full year 2011 with solid third-quarter figures despite persistently difficult conditions characterized by a weak economy and the negative effects of decisions by governments and regulatory authorities in several countries.

Between July and September 2011, adjusted EBITDA from continuing operations - i.e., excluding the discontinued operation in the United States - totaled EUR 3.9 billion, a decline of 2.7 percent compared with the same period last year. Revenue decreased 4.1 percent in the same period to EUR 11.0 billion. Including U.S. business, adjusted EBITDA fell 2.3 percent and revenue de-clined by 6.0 percent.

Net profit increased by 14.6 percent to EUR 1.1 billion, while adjusted net profit grew by 48.9 percent to EUR 1.3 billion. At EUR 1.7 billion, free cash flow in the third quarter was 9.2 percent below the prior-year figure.

"We have once again demonstrated that we can stand our ground in a difficult environment," said René Obermann, Chairman of the Board of Management of Deutsche Telekom. "We cannot afford to be complacent in our efforts as the challenges will continue to intensify."

The company has further trimmed its operating costs, having already saved EUR 1.5 billion in the first nine months of the year with the Save for Service initiative. This has brought the cost base down by EUR 3.9 billion in total since 2010. Save for Service is targeting savings of EUR 4.2 billion for 2010 through 2012. At EUR 2.1 billion in the third quarter of 2011, 3.8 percent above the prior-year figure, the Group's investments - measured in terms of cash capex - remained at a sustained high level.

Deutsche Telekom has confirmed its guidance for the full year 2011. The Group continues to expect adjusted EBITDA from continuing operations of around EUR 14.9 billion. Adjusted EBITDA of around USD 5.5 billion is anti-cipated from business in the United States. Free cash flow of the Group is expected to total at least EUR 6.5 billion.

Deutsche Telekom maintains strong domestic business and sees improvement in many European markets.

• Improved revenue trend in continuing operations over course of year
• Adjusted EBITDA down by 6.5 percent to EUR 4.7 billion, continuing operations down by 2.6 percent
• Adjusted net profit up by 17 percent to EUR 951 million
• Free cash flow 19 percent higher than prior-year figure at EUR 1.8 billion
• Forecast confirmed for full year 2011
• Margin increases to over 40 percent for business in Germany
• Positive revenue and margin trends in Europe compared with first quarter
• IPTV grows by 42 percent in Europe
• Broadband lines overtake traditional telephone lines in Germany for first time

Deutsche Telekom’s financial figures for the second quarter of 2011 are characterized by significantly improved trends in a number of operational areas and a 17-percent increase in adjusted net profit, causing the adjusted EBITDA margin to rise to over 40 percent. Key figures improved in many European countries compared with the first quarter despite a persistently tough economic environment. In other areas, challenges remain. This is particularly true in the United States.

Further information
Find the 2011 half-year report to download as a PDF along with related materials here from 8 a.m. CET.
The 2011 Q2 conference call for analysts will be broadcast live over the Internet from this homepage: August 4, 2011, from 2 p. m. CET

Deutsche Telekom on track to meet its full-year targets in 2011

• Guidance confirmed with more detail following the first quarter
• Revenue down by 3.0 percent and adjusted EBITDA down by 5.0 percent in the first three months of 2011
• Mobile Internet, smartphone penetration, and Internet TV growth drivers for the Group
• Adjusted EBITDA in Germany up by 3.7 percent
• Revenue from Systems Solutions up by over 6 percent
• European companies investing in growth
• Growth trend in data revenue continues apace with a 20 percent rise in the U.S., contract churn rate remains high at 2.4 percent

Deutsche Telekom has confirmed its guidance for the full year following the first quarter of 2011. Business in the first three months was shaped by positive developments overall in Germany and at T Systems, while the companies in the Europe operating segment faced a host of challenges, as did T-Mobile USA.

The first quarter was dominated by the planned sale of T‑Mobile USA to AT&T. This 39-billion-dollar deal represents a value-enhancing solution for business
in the North American market that will also benefit in particular the company's customers in this region. The deal is still subject to legal and regulatory approval in the United States.

Deutsche Telekom brings the 2010 financial year to a successful close and expects almost stable development in 2011.