Highlights

For further media information releases, please refer to our website.

Developments at senior management level

On January 27, 2025, the Supervisory Board of Deutsche Telekom AG resolved to reappoint Tim Höttges as Chair of the Board of Management prematurely for the period from February 1, 2025 until December 31, 2028. In the same meeting, the Supervisory Board approved the termination of Srini Gopalan’s Board position effective February 28, 2025, and appointed Rodrigo Diehl to the Board of Management as the member responsible for the Germany Board department for the period from March 1, 2025 to February 29, 2028. On May 22, 2025, the Supervisory Board resolved to terminate Claudia Nemat’s appointment as of September 30, 2025 and to appoint Dr. Abdu Mudesir as Board member responsible for the Technology and Innovation Board department (now “Product and Technology”) for the period from October 1, 2025 to September 30, 2028.

Shareholder remuneration

Deutsche Telekom AG’s shareholder remuneration. On the basis of the results for the 2025 financial year as well as the finance strategy communicated at the 2024 Capital Markets Day, the Board of Management of Deutsche Telekom AG will propose to the 2026 Shareholders’ Meeting the distribution of a dividend of EUR 1.00 per share for the 2025 financial year.

In the 2025 financial year, Deutsche Telekom AG bought back 65.4 million shares in several tranches as part of a buy-back program, with a total volume of EUR 2.0 billion. The 2025 share buy-back program was completed on December 11, 2025.

For further information on the 2025 share buy-back program, please refer to our Investor Relations website.

In November 2025, Deutsche Telekom AG announced a new share buy-back program with a total volume of EUR 2 billion for the 2026 financial year. The buy-back commenced on January 5, 2026 and will be carried out in several tranches through to the end of 2026.

For further information on the 2026 share buy-back program, please refer to our Investor Relations website.

T‑Mobile US’ shareholder return. In the 2025 financial year, T‑Mobile US bought back 42.4 million shares as part of the 2025 shareholder return program with a total volume of USD 9.9 billion (EUR 8.8 billion) in several tranches, and paid out cash dividends in the amount of USD 4.1 billion (EUR 3.7 billion).

On December 11, 2025, T‑Mobile US announced a new shareholder return program with a total volume of up to USD 14.6 billion for the 2026 financial year, comprising additional share buy-backs and dividends to be paid out, due to run through December 31, 2026.

For further information on the shareholder return programs, please refer to the section “Development of business in the Group” in the combined management report and the section “Other transactions that had no effect on the composition of the Group” in the notes to the consolidated financial statements.

Transactions

Sale of T-Mobile US shares by Deutsche Telekom. In the reporting period, Deutsche Telekom sold a portion of its T‑Mobile US share portfolio on the market in several tranches, without jeopardizing its own majority ownership position in T‑Mobile US. Under the sales plan, Deutsche Telekom sold 6.4 million T‑Mobile US shares with a total volume of EUR 1.3 billion. On December 30, 2025, the latest valid sales plan was terminated.

Purchase options for shares in T‑Mobile US. On October 2, 2025, Deutsche Telekom received purchase options from SoftBank for 10 million T‑Mobile US shares, which can be exercised at a variable market price until April 1, 2029. This secures us access to the majority stake in T‑Mobile US for the long term.

Business combinations in the United States. In the reporting year, T‑Mobile US acquired the DOOH providers Vistar Media and Blis, the FTTH platforms Lumos and Metronet (pro rata in each case) under a joint venture, and the wireless operations and specific spectrum licenses from UScellular. All necessary regulatory approvals had been duly granted and all other closing conditions met.

Sale of T‑Mobile US spectrum licenses to N77. On April 30, 2025, T‑Mobile US sold a portion of its 3.45 GHz spectrum licenses to N77, following receipt of the regulatory approval by the U.S. Federal Communications Commission.

Sale of Telekom Romania Mobile Communications. On October 1, 2025, Hellenic Telecommunications Organization (OTE) consummated the sale of Telekom Romania Mobile Communications. All necessary regulatory approvals had been duly granted and all other closing conditions met.

For further information on these transactions, please refer to the sections “Development of business in the Group,” “Group organization,” and “The economic environment” in the combined management report, and the sections “Other transactions that had no effect on the composition of the Group,” “Changes in the composition of the Group and other transactions,” and “Intangible assetsIntangible assets” in the notes to the consolidated financial statements.

Rating

On September 26, 2025, the rating agency Moody’s raised our rating, which stood at A3 with a stable outlook as of December 31, 2025.

Network build-out and investments in networks

Germany. At the end of 2025, our 5G network covered 99.0 % of the population in Germany, bringing the total number of households and businesses with the option to subscribe to a fiber-optic line with us to 12.6 million. That is 2.5 million lines more than in the prior year.

In the reporting year, the Bundesnetzagentur extended the usage rights for the 800, 1,800, and 2,600 MHz spectrum bands by five years. The extension fee for Telekom Deutschland is EUR 0.2 billion for the entire extension period.

United States. In 2025, T‑Mobile US is the best mobile network in the United States according to independent network tests. Ookla once again confirms, for example, 5G network leadership in terms of speed and performance.

In the reporting year, T‑Mobile US completed the acquisition of 600 MHz spectrum licenses from Channel 51 with a payment of EUR 0.5 billion for the remaining licenses in the second tranche.

Europe. As of the end of 2025, our national companies covered on average 91.9 % of the population in our European footprint with 5G. A total of around 11.3 million households and companies had access to our fiber-optic network offering gigabit speeds. That is 1.3 million lines more than in the prior year.

In the reporting year, our national companies in Poland and Slovakia secured spectrum in the relevant spectrum award procedures for a total of EUR 0.5 billion.

For further information on investments in our networks and spectrum auctions, please refer to the sections “Group strategy” and “Development of business in the operating segments,” as well as “The economic environment” in the combined management report.

Events

T‑Mobile US’ Capital Markets Day Update. On February 11, 2026, T‑Mobile US presented its financial results for the 2025 financial year as part of a “Capital Markets Day Update.” In addition, the company has updated its guidance with regard to key financial and customer figures for 2026 and 2027.

For further information, please refer to T‑Mobile US’ website.

Digitalization initiative: Digital X 2025. On September 10, 2025, we presented an AI focus edition of Digital X in Cologne. The updated format, with around 100 master classes and outstanding speakers, offered over five thousand guests ample opportunity for dialog on artificial intelligence and digital transformation. Together with market-leading partners and experts, the digitalization initiative aims to create tangible impetus for Europe’s digital agenda and take action together – for sustainable digitalization and strengthened competitiveness.

For further information, please refer to our topic special (German only).

30 years of Deutsche Telekom AG. On July 11 and 12, 2025, we celebrated our 30th anniversary as a stock corporation. During the two days of festivities, we outlined Deutsche Telekom’s evolution into the most valuable telecommunications brand in the world, unveiled the sculpture “Gran elefant dret” in front of Group Headquarters in Bonn, and celebrated a city festival in Bonn with all kinds of activities, like a drone show and appearances by famous artists.

For further information, please refer to our topic special (German only).

Mobile World Congress (MWC) 2025. At MWC in Barcelona from March 3 to 6, 2025, we spotlighted technologies and innovations in the worlds of artificial intelligence (AI) and connectivity under the headline theme “Shaping technology for all.” The centerpieces of our stand were our AI phone and further products and services with Magenta AI.

For further information, please refer to our media report.

Environment, Social, and Governance

Climate neutrality in own operations. We have reached our first major milestone on the way to net zero emissions: In the reporting year, Deutsche Telekom became the first multi-national telecommunications company to become climate-neutral across the Group in its own operations (Scope 1 and 2). We have reduced our emissions by more than 94 % compared with 2017. A small percentage is neutralized through high-quality CO₂ removal projects. As a result, the Group achieved the goal of net zero emissions in own business operations (Scope 1 and 2). This is proof that climate protection and profitability are not mutually exclusive: Since the introduction of the ambitious climate targets up to the timely achievement of the current milestone, the Company’s stock market and brand value have risen sharply.

For further information, please refer to our media report.

Five years of #NoHateSpeech. Since 2020, Deutsche Telekom has been committed to fostering respectful interactions in digital spaces through its initiative #NoHateSpeech. Five years on, this commitment strengthens our brand and society: The initiative has won multiple awards (most recently the Effie Evergreen Award), is connected with many partner organizations, and is supported by a large number of employees.

For further information, please refer to our media report.

Commitment to sustainable energy solutions. Following on from Münster, Hanover, and Munich, in the reporting year we commissioned another large-scale battery storage system for green energy in Bamberg. The plan is to provide a total storage capacity of 126 MWh at nine locations by 2026, 96 MWh of which was already available in 2025. Furthermore, the Pallasseum residential complex in Berlin will in future largely be heated using waste heat from a nearby Deutsche Telekom data center: A heat pump will cover around 65 % of the annual heat demand of the 500 apartments, at no additional cost to the tenants. This will reduce carbon emissions, as gas will now only be needed during peak loads.

Cooperations, partnerships, and major deals

Cooperations for the fiber-optic build-out. In the reporting year, we entered into further fiber cooperations with regional public utility companies. These include an agreement with Stadtnetz Bamberg, the regional provider for the city of Bamberg, on the rollout of fiber to over 50 thousand households and business locations city-wide over the coming years. We also signed cooperation agreements with the municipal utilities Stadtwerke Karlsruhe, with Stadtwerke München in Munich and their telecommunications subsidiary M-net, as well as with Stadtwerke Hilden. The goal is to roll out fiber-to-the-building across the respective regions and to leverage synergies from the partnerships. Our fiber cooperations are proving successful, for example in Baden-Württemberg, where at the end of July 2025, we celebrated together with the state government over 1 million usable fiber-optic lines in our network.

Partnerships with Nvidia. In June 2025, we announced together with Nvidia, plans for the first Industrial AI Cloud for European manufacturers on German soil. We will provide secure, sovereign, and fast infrastructure and deliver data center operations, sales, security, and AI solutions. Nvidia will deliver the necessary chips and hardware. We already celebrated the first major milestones for the Industrial AI Cloud in November 2025: With companies and institutions like SAP, Siemens, Agile Robots, Wandelbots, Quantum Systems, PhysicsX, Perplexity, and Leibniz University Hannover, further partners and initial users are part of this new sovereign AI ecosystem. The Industrial AI Cloud went live in February 2026.

Furthermore, in August 2025, we announced together with Nvidia the launch of a new cloud gaming offer on the market, which has been available since early December 2025. The product combines Nvidia’s GeForce NOW cloud platform with our 5G+ network and enables cloud gaming with optimized response times directly on smartphones. Innovative technologies such as L4S and network slicing deliver the highly stable connections.

Partnership with OpenAI. Together with OpenAI, at the start of December 2025, we announced a long-term cooperation to facilitate the offer of advanced AI applications in Europe in the future. We will work in close cooperation to design new AI-powered products and expand communication options for customers. The first pilot projects are scheduled for the first quarter of 2026.

For further information, please refer to our media report.

Partnership with Google Cloud. In April 2025, we signed a strategic agreement with Google Cloud, extending to 2030, on cloud and AI integration. The goal is to further modernize our IT, networks, and business applications, and will include the migration of our SAP landscape. We expect this partnership to enhance our operational efficiency, improve customer experiences, and drive forward technological innovation in the telecommunications industry.

For further information, please refer to our media report.

Participation in the IRIS² satellite project. The IRIS² satellite constellation (Infrastructure for Resilience, Interconnectivity and Security via Satellite) is a European Union project for better digital infrastructure in Europe. It aims to build a powerful, secure, and independent communication network. We intend to contribute to the project with the core topics of connectivity and IT infrastructure. Subject matter of the contract is the design of advanced IT and data center services, highly secure networks, and a 5G core network.

For further information, please refer to our media report.

Sports collaborations. Our support for sports continues: In August 2025, we revealed that we had extended our longstanding partnership with FC Bayern Munich through 2032. The focus of our collaboration is on technology, the digital fan experience, and social responsibility. We have also extended our successful media partnership with the German Hockey Federation through 2028. Up to 132 international matches of the German men’s and women’s hockey teams will be broadcast live on MagentaTV. In September 2025, we announced our involvement in a major sporting event in the United States: T‑Mobile US will be the official telecommunications service provider for the 2028 Olympic and Paralympic Games in Los Angeles. Our U.S. subsidiary will provide 5G infrastructure, deliver connectivity for all competition venues and staff, broadcast the events, and much more. In addition, T‑Mobile US extended its commitment with the Formula One Grand Prix in Las Vegas and is taking on an expanded role as regional 5G innovation partner. The aim is to use 5G technology to improve connectivity and digital solutions in the field of racing events.

Major deals for T‑Systems. Toll Collect once again entrusted T‑Systems with the operation of IT for the truck toll system in Germany. The applications will be relocated to a private and sovereign cloud at our data center locations in Magdeburg and Biere. The contract has a term of eight years. The Collectivité Européenne d’Alsace, the European Collectivity of Alsace, has commissioned T‑Systems Road User Services GmbH, together with the French electronics and automation company Grenobloise d’Electronique et d’Automatismes (GEA), to set up and operate a satellite-based system for truck tolling on the north-south axis in Alsace. The contract has a term of eight and a half years.

Smart airports in Croatia. In November 2025, Hrvatski Telekom announced that it will set up private 5G networks at three Croatian airports. The NextGen 5G Airports project is being co-financed by the EU under the CEF Digital program and aims to substantially improve the efficiency, security, and digital transformation of the airports. The private 5G networks offer flexible adjustments to individual requirements and ensure stable, reliable communications infrastructure.

Products, rate plans, and services

Launch of our T Cloud. We added a new element to our cloud portfolio in September 2025 with T Cloud, a cloud service platform that enables customers to tailor their cloud solutions according to their needs and provides digital independence from non-European technologies. At the heart of the T Cloud offerings are sovereign cloud services that are provided to customers at different levels of security in line with European standards, integrating a multi-cloud approach and partner ecosystems. In addition to hyperscaler solutions and consulting services, the platform also offers Deutsche Telekom’s own cloud infrastructure.

For further information, please refer to our media report.

Launch of our AI devices. T‑Mobile US introduced the Revvl 8 smartphone on August 14, 2025, exclusively on the U.S. market. This high-performance device uses integrated Gemini AI. Our T Phone 3 has been available in Germany and nine other European countries, also since August 14, 2025. Instead of apps on the home screen, users control the smartphone via the integrated AI assistant, Magenta AI, which is based on the AI-powered Perplexity app. The T Phone 3 Pro, with better hardware and extended functions, has been available since October 14, 2025. We have also brought the T Tablet 2 AI-based tablet to the market.

Launch of the T-Satellite service by T‑Mobile US. On July 23, 2025, T‑Mobile US launched T-Satellite, the U.S.’ first automatic satellite-to-mobile network built to deliver network coverage in places carrier towers cannot reach. The service works with common smartphones and, since October 1, 2025, also supports data-based applications like WhatsApp and Google Maps. The connection uses Starlink satellites, allowing these apps to be used in regions without terrestrial mobile coverage.

Even more MagentaSport on MagentaTV. In May 2025, we announced the acquisition of the media rights for a total of 272 matches of the FIFA Men’s World Cup 2026, the FIFA Women’s World Cup 2027, and the FIFA U20 World Cups in 2025 and 2027 for the German TV market. In addition, we have acquired the media rights to all 51 matches of UEFA EURO 2028. We are expanding our basketball offering by having acquired the broadcast rights for all FIBA games in the pay-to-view sector until 2029. This will include all live games of the World Cup and EuroBasket events, and all German games from the Olympic qualifying tournaments. We have also secured the broadcast rights for key 3x3 basketball events until 2029, including the World Cup and Europe Cup, the FIBA World Tour, and the Olympic qualifiers. At the same time, we are the main sponsor of the 3x3 team “Baskets Bonn Telekom.” From January 2026, MagentaTV is also presenting extensive live golf coverage: We have two new TV channels showing the PGA Tour, the DP World Tour, and the 2027 and 2029 Ryder Cup, among other things.

AI for enterprises. T‑Systems has added AI Foundation Services to its product portfolio. These services provide companies with a private and secure development, testing, and production environment that meets particularly high data security and privacy requirements. AI models and services are pre-configured, ready for immediate use, and form the basis for enterprise-wide scaling of AI solutions across different business units and regions.

For further information, please refer to our media report.

Awards

In the reporting year, we won numerous accolades for our brand, our networks, and our service, as well as our IR, CR, and HR work, and more besides. Below is a selection; for more detailed information, please click on “Find out more.”