Deutsche Telekom at a glance

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billions of €

Change
%

2025

2024

2023

2022

2021

Revenue and earnings

Net revenue

2.9

119.1

115.8

112.0

114.4

107.8

Of which: Germany^a

22.0

22.7

23.0

22.1

23.0

Of which: international^a

78.0

77.3

77.0

77.9

77.0

Service revenue

2.9

99.4

96.5

92.9

92.0

83.2

EBITDA

(2.9)

48.8

50.3

57.8

44.0

40.5

EBITDA (adjusted for special factors)

2.3

50.5

49.4

46.8

46.4

43.2

EBITDA AL

(3.1)

42.5

43.8

51.2

36.0

33.9

EBITDA AL (adjusted for special factors)

2.8

44.2

43.0

40.5

40.2

37.3

EBITDA AL margin (adjusted for special factors)

37.2

36.2

35.1

34.6

Profit (loss) from operations (EBIT)

(5.5)

24.8

26.3

33.8

16.2

13.1

Net profit (loss)

(14.3)

9.6

11.2

17.8

8.0

4.2

Net profit (loss) (adjusted for special factors)

3.7

9.7

9.4

7.9

9.1

5.9

Profitability

ROCE

7.5

8.5

9.0

4.5

4.1

Statement of financial position

Total assets

(5.0)

289.8

304.9

290.3

298.6

281.6

Shareholders’ equity

(6.5)

92.2

98.6

91.2

87.3

81.5

Equity ratio

31.8

32.3

31.4

29.2

28.9

Net debt^b

(3.5)

132.5

137.3

132.3

142.4

132.1

Relative debt^b

2.62

2.78

2.82

3.07

3.06

Cash flows

Net cash from operating activities

1.9

40.6

39.9

37.3

35.8

32.2

Cash capex

(0.4)

(19.3)

(19.2)

(17.9)

(24.1)

(26.4)

Cash capex (before spectrum investment)^c

(5.6)

(16.9)

(16.0)

(16.6)

(21.0)

(18.0)

Free cash flow (before dividend payments and spectrum investment) ^c^,^d

(0.2)

24.1

20.9

15.2

14.3

Free cash flow AL (before dividend payments and spectrum investment) ^c^,^d

2.0

19.5

19.2

16.1

11.5

8.8

Net cash (used in) from investing activities

(25.9)

(23.8)

(18.9)

(10.2)

(22.3)

(27.4)

Net cash (used in) from financing activities

19.7

(16.3)

(20.3)

(25.5)

(15.4)

(10.8)

T-Share – key figures

Earnings per share

€

(13.1)

1.97

2.27

3.57

1.61

0.87

Adjusted earnings per share

€

5.2

2.00

1.90

1.60

1.83

1.22

Dividend per share^e

€

11.1

1.00

0.90

0.77

0.70

0.64

Total dividend^f

10.0

4.8

4.4

3.8

3.5

3.2

Adjusted weighted average number of ordinary shares outstanding

millions

(1.4)

4,871

4,938

4,976

4,972

4,813

Rating (Standard & Poor’s, Fitch)

BBB+, BBB+

BBB, BBB+

Rating (Moody’s)

Baa1

^a	The calculation of the Germany and international revenue shares was adjusted effective September 30, 2025. The comparatives for the 2024 financial year were adjusted retrospectively from 23.7 % to 22.7 % (Germany) and 76.3 % to 77.3 % (international).
^b	Including, where it exists, net debt reported under assets and liabilities directly associated with non-current assets and disposal groups held for sale.
^c	Excluding cash outflows for investments made by T‑Mobile US to acquire customer bases.
^d	Excluding proceeds from the disposal of spectrum due to the sale of spectrum licenses by T‑Mobile US.
^e	Subject to approval by the relevant bodies and the fulfillment of other legal requirements.
^f	Subject to approval by the 2026 Shareholders’ Meeting concerning the dividend payments for the 2025 financial year. For further information, please refer to Note 35 “Dividend per share” in the notes to the consolidated financial statements.

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Change
%

2025

2024

2023

2022

2021

Environment

Energy consumption^a

GWh

(0.3)

11,957

11,991

12,241

13,253

13,323

CO₂ emissions (Scope 1 and 2) ^b^,^c

kt CO₂e

(4.9)

240

253

258

233

247

Employees

Average number of employees (full-time equivalents, without trainees)

thousands

(0.5)

199

200

205

211

221

Employees (FTEs) in the Group/number of employees at the reporting date (full-time equivalents, without trainees)

thousands

(0.1)

198

200

207

217

Employee satisfaction (engagement score)^d

Fixed-network and mobile customers

Mobile customers^e

millions

4.5

273.2

261.4

252.2

245.4

248.2

Fixed-network lines

millions

(1.6)

24.8

25.2

25.4

25.3

26.1

Broadband customers^f

millions

0.8

22.5

22.3

22.0

21.4

21.6

Customer retention/satisfaction (TRI^*M index)^d

81.3

77.6

76.2

76.0

73.4

^a	Energy consumption, mainly: electricity, fuel, other fossil fuels, district heating for buildings. The figure for 2024 was adjusted retrospectively due to changes in electricity distribution at individual sites.
^b	Since 2023, CO₂ emissions have also included fugitive emissions from refrigerants and fire suppressants.
^c	Calculated according to the market-based method of the Greenhouse Gas Protocol.
^d	Deutsche Telekom excluding T‑Mobile US.
^e	Including T‑Mobile US wholesale customers.
^f	Excluding wholesale.

The figures shown in this report were rounded in accordance with standard business rounding principles. However, changes were calculated on the basis of non-rounded values. As a result, the total indicated may not be equal to the precise sum of the individual figures.

For information on the development of business in the operating segments, please refer to the section “Development of business in the operating segments” in the combined management report and in the IR back-up on our Investor Relations website.

For information on our performance indicators and alternative performance measures, please refer to the section “Management of the Group” in the combined management report and our Investor Relations website.

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