Deutsche Telekom at a glance

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millions of €

Q1 2026

Q1 2025

Change
%

FY 2025

Revenue and earnings

Net revenue

29,870

29,755

0.4

119,081

Of which: Germany^a

21.9

21.4

22.0

Of which: international^a

78.1

78.6

78.0

Service revenue^b

25,039

24,829

0.8

98,854

EBITDA

12,278

12,779

(3.9)

48,831

EBITDA (adjusted for special factors)

13,057

12,895

1.3

50,540

EBITDA AL

10,492

11,173

(6.1)

42,452

EBITDA AL (adjusted for special factors)

11,521

11,297

2.0

44,244

EBITDA AL margin (adjusted for special factors)

38.6

38.0

37.2

Profit (loss) from operations (EBIT)

5,843

6,766

(13.6)

24,822

Net profit (loss)

2,043

2,845

(28.2)

9,609

Net profit (loss) (adjusted for special factors)

2,601

2,442

6.5

9,747

Earnings per share (basic and diluted)

€

0.42

0.58

(27.2)

1.97

Adjusted earnings per share (basic and diluted)

€

0.54

0.50

7.9

2.00

Statement of financial position

Total assets

293,500

304,980

(3.8)

289,769

Shareholders’ equity

92,028

97,776

(5.9)

92,231

Equity ratio

31.4

32.1

31.8

Net debt^c

133,772

131,940

1.4

132,518

Cash flows

Net cash from operating activities

10,875

11,172

(2.7)

40,627

Cash capex

(3,930)

(4,480)

12.3

(19,256)

Cash capex (before spectrum investment)^d

(3,807)

(4,343)

12.3

(16,864)

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

7,165

6,858

4.5

24,061

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

5,687

5,650

0.7

19,546

Net cash (used in) from investing activities

(3,759)

(5,341)

29.6

(23,793)

Net cash (used in) from financing activities

(6,160)

3,095

n.a.

(16,293)

^a	The calculation of the domestic and international revenue shares was adjusted effective September 30, 2025. The comparatives for the first quarter of 2025 have been adjusted retrospectively from 22.4 % to 21.4 % (Germany) and from 77.6 % to 78.6 % (international).
^b	As of January 1, 2026, the definition of service revenue was changed. Prior-year comparatives were adjusted retrospectively.
^c	Including, where it exists, net debt reported under assets and liabilities directly associated with non-current assets and disposal groups held for sale.
^d	Excluding cash outflows for investments made by T‑Mobile US to acquire customer bases.
^e	Excluding proceeds from the disposal of spectrum due to the sale of spectrum licenses by T‑Mobile US.

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millions

Mar. 31, 2026

Dec. 31, 2025

Change
Mar. 31, 2026/
Dec. 31, 2025
%

Mar. 31, 2025

Change
Mar. 31, 2026/
Mar. 31, 2025
%

Fixed-network and mobile customers^a

Germany and Europe

Mobile customers

122.0

121.7

0.3

119.6

2.1

Fixed-network lines

25.2

24.8

1.4

25.2

Broadband customers^b

22.8

22.5

1.3

22.4

1.8

United States

Postpaid accounts^a

34.4

34.2

0.6

31.1

10.7

^a	In the first quarter of 2026, the United States operating segment began reporting the total number of postpaid accounts instead of the total number of postpaid and prepaid customers.
^b	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 our operating segments, please refer to the section “Development of business in the operating segments” in the interim Group 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 2025 combined management report (2025 Annual Report) and our Investor Relations website.

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