Deutsche Telekom's Q1 2024 investor conference call

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Deutsche Telekom Investor Relations (#DT_IR)

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CEO Tim Höttges + CFO Christian Illek will present DT's Q1 2024 results and answer questions on May 16, 2024.
0:00:00 Begining of the call
▬▬▬▬▬ Presentation ▬▬▬▬▬
📣 Tim Höttges (CEO)
0:00:41 Highlights Q1/24: consistent reliable growth (p#4)
0:02:08 Financial Q1/24 organic (p#5)
0:02:49 Networks (p#6)
0:03:32 Customers (p#7)
0:04:06 ESG (p#8)
0:04:42 Guidance 2024 (p#9)
📣 Christian Illek (CFO): Review segment and finacials (p#10)
0:05:19 US: Financial growth (p#11)
0:05:50 US: Customer growth (p#12)
0:06:21 DE: EBITDA growth (p#13)
0:06:41 DE: Service revenues (p#14)
0:07:12 DE: Fixed revenues (p#15)
0:07:34 DE: Fixed KPIs (p#16)
0:09:27 DE: Mobile KPIs: strong customer intake in a competitive market (p#17)
0:09:43 EU: Financials (#18)
0:10:43 EU: Commercial KPIs (p#19)
0:11:08 Systems Solutions (p#20)
0:11:39 Financials Q1/2024 reported (#21)
0:12:14 FCF AL and adj. net profit (p#22)
0:13:03 Net debt + leverage (p#23)
▬▬▬▬▬▬▬ Q&A ▬▬▬▬▬▬▬
Questions were answered by Tim Höttges (CEO), Christian Illek (CFO) and Hannes Wittig (Head of IR)
0:13:48 Intro
0:14:22 1. 🙋‍♂️Adam Fox-Rumley (HSBC)
-DE regulation on upcoming spectrum auction: Thoughts on BNetzA coverage obligations. Can you put DT's mobile coverage plans into this context?
0:18:11 2. 🙋‍♂️George Ierdiaconou (Citi)
-DE broadband: What is the reason for lower net adds than expected?
-DE union negotiations: Are you closing in on an agreement?
0:24:48 3. 🙋‍♂️ Joshua Mills (Exane)
-DE mobile: Do you see pressure from Vodafone's family plans?
-EU: Are price increases the driver behind the EBITDA acceleration?
0:28:48 4. 🙋‍♂️ Polo Tang (UBS)
-DE competitive environment: Any changes?
-DE fiber rollout: how easy is it to access multi dwelling units and housing accociations to upgrade the network?
0:33:20 5. 🙋‍♂️ Andrej Dragolici (Kepler)
-DE Capex increase vs last year: just phasing or headwinds from pricing? Outlook for coming quarters?
-US fiber: is the market moving to convergence? Is DT trying to position itself in this?
0:38:56 6. 🙋‍♂️ Steve Malcolm (Redburn)
-DE regulation on upcoming spectrum auction: Is DT prefering an auction vs complying with the current proposals?
-DE broadband net-adds: what is the chance to improve it going forward?
0:45:04 7. 🙋‍♂️ David Wright (BoAML)
-US fiber: how is DT identifying candidates
-DE union negotiations: what could you offer them beside pure financial benefits?
0:49:47 8. 🙋‍♂️ James Ratzer (NewStreet)
-DT capital venture growth fund with 2bn: did you make first investments? Where do we stand?
-Softbank: what are your plans with the options that expire end of June
0:56:00 9. 🙋‍♂️ Robert Grindle (Deutsche Bank)
-GHS: improvement in real estate in Q1 or further worsening?
0:57:52 10. 🙋‍♂️ Usman Ghazi (Berenberg)
-Softbank: where are you with respect to your cooperation?
-Capital allocation: how do you think about increasing the size of DT Capital Partners?
1:02:36 11. 🙋‍♂️ Andrew Lee (Goldman-Sachs)
-US fiber: Why are you hapy for TMUS to have financing partners for fiber? Are they bringing local engineering expertise?
-DE broadband: will we see a rebalance in competition from volume to pricing efforts
1:08:30 12. 🙋‍♂️Ottavio Adorisio (Bernstein)
-DE mobile coverage: what capex would be necessary to get to 99.5% area coverage?
-Capital allocation: is US fiber part of the equation going forward?
▬▬▬▬ Closing Remarks ▬▬▬▬
📣 Tim Höttges (CEO)
1:15:10 Main takeaways (#24)
Context:
➡️ All Deutsche Telekom documents on Q1 2024 available here www.telekom.com/24Q1
▶️ KZbin Playlist 'DT financial results' with recordings of Deutsche Telekom's previous quarterly results calls: • Deutsche Telekom Finan...
➡️ All T-Mobile US documents on Q1 2024 available here: investor.t-mobile.com/events-...
▶️ T-Mobile US Q1 2024 investor conference call: • T-Mobile Q1 2024 Earni...
▶️ KZbin Playlist 'TMUS financial results' with recordings of T-Mobile US' previous quarterly results calls: • TMUS Financial Results
General background:
➡️ Reasons to invest in Deutsche Telekom: www.telekom.com/reasons2invest