Development of business at Deutsche Telekom AG

Deutsche Telekom AG prepares its annual financial statements in accordance with the principles of the German GAAP, as specified in the German Commercial Code (Handelsgesetzbuch – HGB) and the German Stock Corporation Act (Aktiengesetz – AktG).

In our capacity as the Headquarters of the Deutsche Telekom Group, we perform strategic and cross-segment management functions and provide services for other Group companies. The profits and losses of our subsidiaries, Group financing measures, and the expenses and income from intercompany services have a material effect on our financial position and results of operations.

At a Group level, segment performance in the financial year can be summarized as follows: In the Germany operating segment, total revenue was down 0.4 % on the prior-year level, due mainly to lower mobile terminal equipment revenues. By contrast, service revenues grew by 1.0 % compared with the previous year. Total revenue in the United States operating segment increased by 4.1 % year on year. In organic terms, it rose by 6.0 %. This was attributable to growth in service revenues and terminal equipment revenues. Revenue in our Europe operating segment climbed by 2.5 %. In organic terms, the increase was 2.9 %, on account of higher service revenue. Organic growth in service revenues was due to the strong performance of the mobile communications, fixed-network, and IT businesses. Revenue in our Systems Solutions operating segment was up 2.5 % year on year, due mainly to growth in the Digital and Road Charging areas.

Deutsche Telekom AG reported net income for the 2025 financial year of EUR 3.2 billion. This was attributable to the operating business of Group Headquarters and in particular to the profits transferred by the German subsidiaries. In the previous year, the net income of Deutsche Telekom AG had been largely determined by positive one-time effects from intragroup transactions. This included book gains of EUR 12.8 billion arising from the use of hidden reserves in connection with the intragroup aggregation of shares in the multi-level holding structure for the investment in T‑Mobile US. A further EUR 5.7 billion stemmed from a capital repayment by Deutsche Telekom Holding B.V., Maastricht.

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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