Deutsche Telekom – 2025 Annual Report

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The 2025financial year

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Letter from the Chair
of the Board of Management

Letter from the Chair of the Board of Management

“At Deutsche Telekom we will continue to do everything within our power to earn the trust you place in us. With a clear strategy, the courage to invest, and the ambition to be a little better every day.”

Read letter

Highlights

Highlights

Service revenue up by

2.9 %

to EUR 99.4 billion

More on revenue

Adjusted EBITDA AL up by

2.8 %

to EUR 44.2 billion

More on EBITDA AL

Scope 1 and 2 emissions

- 94 %

compared to 2017

More on climate
neutrality

Guidance for 2026

Adjusted EBITDA AL around EUR 47.4 billion
Free cash flow AL around EUR 19.8 billion
Adjusted earnings per share around EUR 2.20

More on our guidance

Proposed dividend of

EUR 1.00

per dividend-bearing share

More on our dividend proposal

Community Contribution

EUR 977 million

is our contribution to promoting a digital society

More on digital society

AI partnership with Nvidia

Industrial AI Cloud went live

More on the AI partnership

Operating segments

Germany: more than 2 million FTTH customers
United States: impressive growth
Europe: success story continued
Systems Solutions: strong development throughout the year

More on the segments

30 years of Deutsche Telekom (photo)

Carbon emissions (Scope 1–3)

- 38 %

compared to 2020

More on carbon emissions

T-Mobile US’ CMD Update

Continuing its growth course

More on the CMD Update

Anniversary

30th anniversary of Deutsche Telekom AG

More on our anniversary

Circular elements (photo)

Corporate transactions

Corporate transactions successfully concluded in the United States and Europe

More on transactions

Engagement score of

77 points

Employee satisfaction of 81 %

More on our employees

Network build-out of

90–99 %

5G coverage across our global footprint

More on network build-out

Environment, Social, Governance

The highlights of the sustainability statement
at a glance

More on sustainability

colorful shapes

Services

Interesting topics

Finance Overview
Development of selected financial data
Go to financial summary
Service
Key figures comparison
Compare figures
Service
Financial calendar
See scheduled events
Service
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To our shareholders Deutsche Telekom at a glance
To our shareholders Letter from the Chair of the Board of Management
To our shareholders Supervisory Board’s report
To our shareholders Members of the Board of Management of Deutsche Telekom AG in 2024
To our shareholders Members of the Supervisory Board of Deutsche Telekom AG in 2024
To our shareholders The T-Share
To our shareholders Development of selected financial data
To our shareholders Highlights
Group organization Segment structure
Group strategy Leading Digital Telco
Group strategy Finance strategy
Management of the Group Performance management system
The economic environment Macroeconomic development
The economic environment Telecommunications market
The economic environment Major regulatory decisions
Development of business in the Group Statement of the Board of Management on business development
Development of business in the Group Comparison of the Group’s expectations with actual figures
Development of business in the Group Results of operations of the Group
Development of business in the Group Net assets of the Group
Development of business in the Group Profitability and financial position of the Group
Management report Development of business in the operating segments
Development of business in the operating segments Germany
Development of business in the operating segments United States
Development of business in the operating segments Europe
Development of business in the operating segments Systems Solutions
Development of business in the operating segments Group Development
Development of business in the operating segments Group Headquarters & Group Services
Forecast Statement by the Board of Management on the expected development of the Group
Forecast Economic outlook
Forecast Expectations for the Group
Forecast Market expectations and expectations for the operating segments
Risk and opportunity management Board of Management’s assessment of the aggregate risk and opportunity position
Risk and opportunity management Risk and opportunity management system
Risk and opportunity management Risks and opportunities
Governance and other disclosures Governance
Governance and other disclosures Integrated control and monitoring system
Governance and other disclosures Corporate Governance Statement in accordance with §§ 289f, 315d HGB
Governance and other disclosures Legal structure of the Group
General information ESRS 2 – General disclosures
Environment Disclosures pursuant to Article 8 of Regulation 2020/852
Environment ESRS E1 – Climate change
Environment ESRS E5 – Resource use and circular economy
Social ESRS S1 – Own workforce
Social ESRS S2 – Workers in the value chain
Social ESRS S4 – Consumers and end-users
Governance ESRS G1 – Business conduct
Governance G-Company-specific: cybersecurity
Sustainability statement ESRS index
Financial statements Statement of changes in equity
Summary of accounting policies Other transactions that had no effect on the composition of the Group
Summary of accounting policies Development of the overall economic environment
Notes to the income statement 23 Own capitalized costs
Notes to the income statement 35 Dividend per share
Other disclosures 38 Segment reporting
Other disclosures 43 Financial instruments and risk management
Other disclosures 45 Related-party disclosures
Other disclosures 46 Remuneration of the Board of Management and the Supervisory Board
Other disclosures 47 Share-based payment
Other disclosures 48 Declaration of conformity with the German Corporate Governance Code
Other disclosures 49 Events after the reporting period