The statements in this section reflect the current views of our management. There is a great deal of uncertainty currently regarding the extent to which business activities and thus the results of operations and financial position of Deutsche Telekom could be affected overall by the economic fallout from the coronavirus pandemic. We continue to evaluate the latest studies published by prominent economic research institutes to monitor the impact of the coronavirus pandemic on the economy as a whole. At the current point in time, the forecasts published in the combined management report of the 2019 Annual Report remain valid. Nevertheless, given the current level of macro-economic uncertainty, we cannot generally rule out the possibility of deviations.

For more information about the coronavirus pandemic and the associated business risks, please refer to the section “Risks and opportunities.” We also look at the economic trends in the section “The economic environment.” Readers are also referred to the Disclaimer at the end of this report.