Home5G & BeyondDeutsche Telekom aims to grow core profits by 3 to 5% pa...

Deutsche Telekom aims to grow core profits by 3 to 5% pa up to 2024

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It expects annual revenue increases of 1 to 2% in the mid-term targets announced ahead of its two-day investor presentation.

As Deutsche Telekom (DT) readied itself for the investor event, CEO Tim Hoettges told Reuters, โ€œWe step up our effortsโ€ฆWe want to outperform the strong development of the last few years and lead the Group into the future with sustainable growth.โ€

By 2030, it intends to extend fibre coverage to 60% of Germans, up from 5% now, and 5G mobile network is expected to cover 97% of the population by that time.

Dow Jones reports that he said DT plans to increase its stake in its T-Mobile in the US to more than 50%. DT owns 43% of T-Mobile US which it controls through a shareholder agreement with SoftBank Group.

Hoettges said the company has a roadmap to increase its stake to 51% by 2024.

In a statement the company said, โ€œThe group regularly assesses its investments for possibilities to further increase their value โ€“ currently with a focus on T-Mobile Netherlands and the tower portfolio. In both cases, without preconceived views as to an outcome and with no time pressureโ€.

This is cheering news in a year that IDC predicts 0.7% rise in revenue globally for telecoms services, but as the analyst house observes, it is still not the jump that so many expected 5G to deliver.