Highlights
For further media information releases, please refer to our website.
For comprehensive information on the T-Share, please visit our Investor Relations website.
Developments at senior management level
At its meeting on May 22, 2025, the Supervisory Board of Deutsche Telekom AG resolved to prematurely terminate Claudia Nemat’s position as the Board member responsible for the Technology and Innovation department effective September 30, 2025. In the same meeting, the Supervisory Board appointed Dr. Abdu Mudesir as Claudia Nemat’s successor for the period from October 1, 2025 to September 30, 2028.
Guidance raised again for the 2025 financial year
We are raising our guidance for adjusted EBITDA AL and free cash flow AL of the Group again for the 2025 financial year. Instead of over EUR 45.0 billion, we now expect to post adjusted EBITDA AL of around EUR 45.3 billion. While free cash flow AL previously amounted to more than EUR 20.0 billion, we now expect it to stand at around EUR 20.1 billion.
Shareholder remuneration
On the basis of the results expected 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 plans to propose to the 2026 Shareholders’ Meeting the distribution of a dividend of EUR 1.00 per share for the 2025 financial year, and to buy back shares for EUR 2 billion in the 2026 financial year.
Transactions
Deutsche Telekom AG’s share buy-back program. Since January 3, 2025, Deutsche Telekom AG has been buying back shares as part of a buy-back program. As of September 30, 2025, Deutsche Telekom AG had bought back around 47 million shares with a total volume of EUR 1.5 billion. The approximately 81 million shares bought back under the 2024 program were canceled on August 19, 2025.
For further information on the 2025 share buy-back program, please refer to our Investor Relations website.
Sale of T‑Mobile US shares by Deutsche Telekom. Between June 12 and September 10, 2025, Deutsche Telekom sold portions of its T‑Mobile US share portfolio on the market, without jeopardizing its own majority ownership position. On September 11, 2025, a further sales plan commenced with terms ending in the fourth quarter of 2025. As of September 30, 2025, Deutsche Telekom had sold a total of 5.2 million T‑Mobile US shares with a volume of EUR 1.1 billion.
T‑Mobile US’ 2025 shareholder return program. On December 13, 2024, T‑Mobile US had announced a shareholder return program comprising share buy-backs and dividends to be paid out. As of September 30, 2025, T‑Mobile US had bought back around 30 million shares with a total volume of USD 7.4 billion (EUR 6.6 billion) and paid out cash dividends of USD 3.0 billion (EUR 2.8 billion). On September 18, 2025, T‑Mobile US announced that the Board of Directors had declared a cash dividend of USD 1.02 per share; a quarter-on-quarter increase of USD 0.14.
Acquisition of Metronet in the United States. On July 24, 2025, T‑Mobile US consummated the acquisition of the fiber-to-the-home platform Metronet and certain of its affiliates as part of a joint venture. All necessary regulatory approvals had been duly granted and all other closing conditions met.
Acquisition of UScellular in the United States. On August 1, 2025, T‑Mobile US consummated the acquisition of UScellular’s wireless operations and specific spectrum licenses. All necessary regulatory approvals had been duly granted and all other closing conditions met.
Sale of Telekom Romania Mobile Communications. On October 1, 2025, Hellenic Telecommunications Organization (OTE) consummated the sale of Telekom Romania Mobile Communications (TKRM). 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” and “Group organization, strategy, and management” in the interim Group management report, and the sections “Changes in the composition of the Group and other transactions” and “Other transactions that had no effect on the composition of the Group” in the interim consolidated financial statements.
Network build-out
Germany. As of September 30, 2025, our 5G network was available to 98.8 % of the German population, and a total of 11.8 million households and companies can subscribe to a fiber-optic line with us.
Europe. As of September 30, 2025, our national companies covered on average 89.3 % of the population in our European footprint with 5G, and a total of 10.9 million households can access our fiber-optic network offering gigabit speeds.
Events
30 years of Deutsche Telekom AG. On July 11 and 12, 2025, we celebrated our 30th anniversary as a stock corporation. Attended by around 500 guests, the celebrations opened with a look back over Deutsche Telekom’s history and its transformation into the most valuable telecommunications brand globally. Since 1995, our customer base has grown from around 37 million to around 300 million and our revenue from around EUR 34 billion to around EUR 116 billion in 2024. The ceremony climaxed with a musical world-first: two pianists playing a piano four hands from different locations, as well as the official unveiling of the sculpture entitled “Gran elefant dret.” The festivities continued across Bonn with a lineup of spectacular events, including a drone show and concerts by famous artists.
For further information, please refer to our topic special (German only).
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).
Rating
On September 26, 2025, the rating agency Moody’s raised our rating, which stood at A3 with a stable outlook as of September 30, 2025.
Cooperations, partnerships, and major deals
Cooperations for the fiber-optic build-out. The city of Karlsruhe’s municipal utilities company Stadtwerke Karlsruhe signed a cooperation agreement with Telekom Deutschland in July 2025. This was followed in subsequent months by further cooperation agreements with Stadtwerke München in Munich and its 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. In Baden-Württemberg, for example, we have been working with the state government to build out gigabit-ready networks in the region, and at the end of July 2025 reached the major landmark of over 1 million households passed by our fiber-optic lines.
Partnership with Nvidia on 5G+ gaming. At Gamescom in mid-August 2025, we announced a collaboration with Nvidia to bring a brand-new 5G+ gaming offering to the market. 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. Deutsche Telekom is Europe’s first network operator to enable latency-optimized mobile gaming with GeForce NOW based on 5G standalone technology.
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.
Products, rate plans, and services
Launch of our AI-phone. The T Phone 3, our AI-assisted smartphone, has been available in Germany and nine more countries in Europe 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 are additionally bringing the T Tablet 2 AI-based tablet to the market. Our goal with these three devices is to make AI accessible to everyone.
For further information, please refer to our media report.
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 companies to tailor their cloud solutions according to their needs. 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. T Cloud is our answer to the call from European companies for digital independence from non-European technologies. At the same time, we are rolling out maximum-security offerings such as the new T Mission portfolio.
For further information, please refer to our media report.
Launch of the Revvl 8 smartphone at T‑Mobile US. T‑Mobile US introduced the new Revvl 8 smartphone on August 14, 2025, exclusively available at T‑Mobile US and Metro by T‑Mobile. The powerful Revvl 8 has an enhanced main camera, a long-lasting battery, and built-in Gemini AI. Customers also receive a limited lifetime warranty and five years of security updates.
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 standard smartphones and since October 2025 also offers connectivity for popular data-based services. T‑Mobile US customers on the Experience Beyond plan can use T-Satellite at no extra cost. For everyone else, the service is available for USD 10/month.
Awards
Networks. In the third quarter of 2025, our subsidiaries in Austria (German only), Poland (Polish only), and Greece once again win the Ookla® Speedtests for the fastest fixed-network internet or mobile network. Magenta Telekom in Austria also takes the top spot in the Connect and Imtest fixed-network tests. In Greece, Umlaut certifies OTE’s mobile network as Best in Test for speed and quality for the eleventh year running. While in Germany, for the fifth consecutive time, we are crowned winner of the Connect fixed-network test (German only) with an overall score of “very good.”
Service. In Germany, our service hotline for MagentaTV receives a verdict of “outstanding” in the Connect test of IPTV and streaming hotlines (German only), winning all five categories and scoring maximum points for Availability, Interactive Voice Response, and Friendliness. Our MeinMagenta service app, with its improved security and AI-powered chatbot, is awarded a score of “outstanding” in the Connect test of network operators’ service apps (German only).
Brand. In July 2025 and for the third consecutive time, the Brand Finance Europe 500 study confirms Deutsche Telekom’s position as Europe’s most valuable brand with a brand value of EUR 76.5 billion.
Investor relations. Deutsche Telekom is once again the Investors’ Darling (German only): HHL Leipzig Graduate School of Management, in cooperation with Manager Magazin and Berenberg, votes us best for investor relations communication with the #1 spot in its overall MDAX and SDAX ranking of 2025. In the DAX 40 ranking, we take this accolade for the fourth time running. Our IR team is additionally crowned best in the category Large Cap – Technology, Media & Telecommunications by the Extel Developed Europe Executive Team 2025 investor survey.
For information on our awards for responsible corporate governance, please refer to our website.