Thursday, 19 October 2017

Hefty BT writedown, Brexit hits Deutsche Telekom profit

By Total Telecom staff
Thursday 02 March 17

German incumbent reports solid figures for 2016, driven in no small part by T-Mobile US.

Deutsche Telekom posted a sizeable decline in reported net profit last year, impacted by a multi-billion-euro writedown of the value of its stake in BT, but its U.S. business drove strong revenue and earnings growth and the telco talked up a positive year for fixed broadband in Germany. The German incumbent generated net profit of €2.7 billion in 2016, down by 17.8% on the previous year, having written down its 12% stake in its U…

Deutsche Telekom posted a sizeable decline in reported net profit last year, impacted by a multi-billion-euro writedown of the value of its stake in BT, but its U.S. business drove strong revenue and earnings growth and the telco talked up a positive year for fixed broadband in Germany. The German incumbent generated net profit of €2.7 billion in 2016, down by 17.8% on the previous year, having written down its 12% stake in its U…

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