Deutsche Telekom has reported a growth in group revenue of 15 per cent to €25.8 billion from €22.5 billion.
Revenue generated outside Germany increased from 27 per cent to 33 per cent, according to figures released this morning.
But net loss totalled €3.9 billion, mainly due to depreciation and amortisation relating to newly consolidated companies.
Excluding special influences, the net loss amounted to €3.1 billion. As part of the extensive package of measures to reduce the group’s debt, investments in property, plant and equipment were reduced by 17.6 per cent to €3.1 billion compared to the same period last year.
The cut in capital expenditure as well as the increase in EBITDA contributed to the increase in net cash provided by operating activities of €40.8 per cent to €6.6 billion.
Chairman of the board of management Dr Helmut Sihler called the results encouraging and highly satisfactory against the backdrop of the general economic situation.
The new chairman reaffirmed the aim of reducing Deutsche Telekom’s net debt to €50 billion by the end of 2003.