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The statements in this section reflect the current views of our management. Contrary to the forecasts published in the 2022 combined management report (2022 Annual Report) and the Interim Group Report as of March 31, 2023, we now expect to post higher adjusted EBITDA AL. Adjusted EBITDA AL for full-year 2023 was originally expected to come in at around EUR 40.9 billion. We now expect adjusted EBITDA AL for the Group to come in at around EUR 41.0 billion in the 2023 financial year. This is largely attributable on the one hand to stronger-than-expected business performance outside of the United States. Here we now expect to post adjusted EBITDA AL of around EUR 14.0 billion, up from the previous guidance of EUR 13.9 billion. We are also raising our guidance for the United States operating segment by USD 50 million, still anticipating adjusted EBITDA AL of around USD 28.5 billion.

All other statements made remain valid. Our planning assumes an unchanged U.S. dollar exchange rate of USD 1.05; financial results for GD Towers were not included.

For more information on the business risks, please refer to the section “Risks and opportunities.” For additional information and recent changes in the economic situation, please refer to the section “The economic environment.” Readers are also referred to the “DisclaimerDisclaimer” at the end of this report.