Deutsche Telekom AG

Deutsche Telekom is engaged in the telecommunications services and information technology sectors. Co. operates as an integrated telecommunications provider. It is organized into four operating segments: Germany, Europe, and the United States; and Systems Solutions, as well as Group Headquarters and Shared Services. Co. provides fixed-network lines, broadband lines and mobile communications. Co. also provides customized Information and Communication Technology (ICT) solutions for corporate customers under the T-Systems brand. The Group Headquarters and Shared Services segment comprises cross-segment management functions, real estate services, and mobility solutions, among others.
  • Ticker555750
  • ISINDE0005557508
  • SectorMobile Telecommunications
  • CountryGermany

Analysts

1 director sold

A director at Deutsche Telekom Ag sold 20,089 shares at 14.580EUR and the significance rating of the trade was 74/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Alvaro del Pozo

DEUTSCHE TELEKOM: RDOS. 2T'19 (ANÁLISIS BANCO SABADELL)

Rdos. 2T’19 ligeramente mejores en EBITDA ajustado (+2,9% vs +1,9% BS(e) y 2,2% consenso; ex T-Mobile, ya conocidos). La evolución en Alemania (~38% EBITDA del Grupo), continúa siendo positiva, mostrando las ventas un crecimiento del +1,2% (vs +0,7% BS(e) y +0,5% consenso) por el buen comportamiento de los ingresos por servicios móviles (+2,4% en 2T’19) que más que compensan la debilidad vista en fijo (vuelve a situarse ligeramente en negativo, -0,3% en 2T’19). Esto, unido a los ahorros de costes, permiten alcanzar un crecimiento en EBITDA ajustado en Alemania del +2,4% (BS(e) en línea y vs +2...

ING
Hendrik Wiersma

Deutsche Telekom/Solid 2Q19; DT3.25 1/28 attractive

Deutsche Telekom released a solid 2Q19 report card, with the domestic operations performing satisfactorily and T-Mobile US still driving growth. DT trades largely in line with Orange, which we view as one of the most defensive names, in maturities up to 4 years. Only longer out on the curve does DT offer a (slight) pickup versus its French peer. We believe this is warranted given the expected temporary increase in DT's leverage after the still pending merger of T-Mobile US with Sprint. We view the DT3.25 1/28 as attractive on the company's own curve.

Alexandre Iatrides ...
  • Benoit Valleaux
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/08/2019

...

Alexandre Iatrides

Deutsche Telekom : Deutsche Telekom still in fine fettle

>Q2 2019 results in line and fairly solid - Revenues in line. Q2 revenues were up 7.1% y-o-y (+2.9% organic vs 3.5% in Q1) to € 19.66bn (vs consensus: € 19.64 et ODDO BHF: € 19.64bn) due to a positive currency effect (€ vs $), good organic growth in the US (already reported) and confirmation of a rebound in organic growth in Germany to +1.2% vs +0.6% in Q1 and -1.1% in Q4. EBITDA AL at +7.1%, 0.5% ahead of expectations, +3.5% on an organic basisBy region: 1/...

Deutsche Telekom AG: Deutsche Telekom´s US subsidiary merger still away from completion, despite DOJ´s approval

DOJ´s file consent decree dated July 26, 2019 is another step towards the merger completion, but there is still required approvals by state Attorneys General and the District of Columbia.

Deutsche Telekom AG - March 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Deutsche Telekom AG: Update to credit analysis

Our credit view of Deutsche Telekom, reflecting its international footprint and credit profile in the European and US telecom markets

Deutsche Telekom AG - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Deutsche Telekom AG - September 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Alvaro del Pozo

DEUTSCHE TELEKOM: RDOS. 2T'19 (ANÁLISIS BANCO SABADELL)

Rdos. 2T’19 ligeramente mejores en EBITDA ajustado (+2,9% vs +1,9% BS(e) y 2,2% consenso; ex T-Mobile, ya conocidos). La evolución en Alemania (~38% EBITDA del Grupo), continúa siendo positiva, mostrando las ventas un crecimiento del +1,2% (vs +0,7% BS(e) y +0,5% consenso) por el buen comportamiento de los ingresos por servicios móviles (+2,4% en 2T’19) que más que compensan la debilidad vista en fijo (vuelve a situarse ligeramente en negativo, -0,3% en 2T’19). Esto, unido a los ahorros de costes, permiten alcanzar un crecimiento en EBITDA ajustado en Alemania del +2,4% (BS(e) en línea y vs +2...

Alexandre Iatrides

Deutsche Telekom : Deutsche Telekom still in fine fettle

>Q2 2019 results in line and fairly solid - Revenues in line. Q2 revenues were up 7.1% y-o-y (+2.9% organic vs 3.5% in Q1) to € 19.66bn (vs consensus: € 19.64 et ODDO BHF: € 19.64bn) due to a positive currency effect (€ vs $), good organic growth in the US (already reported) and confirmation of a rebound in organic growth in Germany to +1.2% vs +0.6% in Q1 and -1.1% in Q4. EBITDA AL at +7.1%, 0.5% ahead of expectations, +3.5% on an organic basisBy region: 1/...

Alexandre Iatrides

Deutsche Telekom : Deutsche Telekom toujours en pleine forme

>Résultats T2 en ligne et plutôt solides - CA en ligne : le CA T2 est ressorti en hausse de 7.1% yoy  (+2.9% organic vs 3.5% au T1) à 19.66 Md€ (vs css : 19.64 Md€ et ODDO BHF: 19.64 Md€) en raison d’un effet de changes positif (€ vs $), de la bonne croissance organique US (déjà publiée) et d’une confirmation du rebond de l’organique en Allemagne +1.2% vs +0.6% au T1 et -1.1% au T4. EBITDA AL à +7.1%, 0.5% au-dessus des attentes, +3.5% en organique.Par région : §...

Research Department

INFORME DIARIO 08 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ARCELOR MITTAL, BBVA, FERROVIAL. EUROPA: ADIDAS, ALLIANZ, BAYER, DEUTSCHE TELEKOM, SIEMENS. Rebote técnico de las bolsas europeas sin mejora de perspectivas que actúe de catalizador Las bolsas europeas mantuvieron modestas ganancias durante toda la jornada. En el Euro STOXX los sectores ligados a materias primas siguieron acusando con caídas la debilidad del yuan y las dudas sobre el crecimiento, así R. Básicos y Energía lideraron las caídas junto con Bancos (ante una nueva caída de las rentabilidades soberanas), Ocio fue el sector con mayores s...

Research Department

INFORME DIARIO 07 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: COLONIAL, SECTOR ELECTRICO Y GASISTA. EUROPA: AHOLD, BAYER, MUNICH RE, UNICREDIT, VIVENDI La estabilización del yuan da cierto respiro a las bolsas. Tras la fuerte corrección de las sesiones anteriores, las bolsas europeas se mantuvieron prácticamente planas durante toda la sesión gracias a la estabilización del yuan (con las medias del PBoC) que evitan una nueva escalada en el conflicto comercial entre EE.UU. y China. En el Euro STOXX R. Básicos volvió a ser el más castigado junto con Energía (caída del crudo por debajo de 60 dólares) mientras q...

1 director sold

A director at Deutsche Telekom Ag sold 20,089 shares at 14.580EUR and the significance rating of the trade was 74/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/08/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/08/2019

...

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/21/2019

Two weeks ago, it seemed rational to tilt our allocation more towards cyclicals and away from defensives (macro, expensive nature of the growth/quality theme). Alas! Donald Trump has gotten involved, rekindling volatility and considerably reducing visibility. What can we do when the search for security is once again pushing yields down, which is favourable for long-term sectors, often synonymous with quality but too expensive? Favour the cash flow/distribution trade combined with an a...

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/05/2019

Il y a 15 jours, colorer de manière plus cyclique, moins défensive, son allocation paraissait rationnelle (macro, cherté de la thématique qualité croissance). Las ! D Trump est passé par là réveillant la volatilité et diminuant considérablement la visibilité. Que faire alors que la recherche de sécurité pousse de nouveau les rendements à la baisse ce qui est favorable aux secteurs à duration longue souvent synonyme de qualité mais trop chers ? Favoriser le couple cash-flow / distribut...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/09/2019

...

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

With a more favourable environment, DEUTSCHE TELEKOM AG improves to Positive

DEUTSCHE TELEKOM AG (DE), a company active in the Integrated Telecommunications industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date March 12, 2019, the closing price was EUR 15.01 and its potential was estimated at EUR 15.76.

ING
Hendrik Wiersma

Deutsche Telekom/Solid 2Q19; DT3.25 1/28 attractive

Deutsche Telekom released a solid 2Q19 report card, with the domestic operations performing satisfactorily and T-Mobile US still driving growth. DT trades largely in line with Orange, which we view as one of the most defensive names, in maturities up to 4 years. Only longer out on the curve does DT offer a (slight) pickup versus its French peer. We believe this is warranted given the expected temporary increase in DT's leverage after the still pending merger of T-Mobile US with Sprint. We view the DT3.25 1/28 as attractive on the company's own curve.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/KBC, Coca-Cola HBC, Deutsche Telekom and Fedex

KBC Group reports stable capital metrics, KBC bail-in senior provides an attractive pickup versus Rabobank

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Deutsche Bank and Deutsche Telekom

A Deutsche Bank restructuring would not yet change our view on the bank

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Casino, Deutsche Bank, DT, ArcelorMittal, EDF

Casino (COFP) was downgraded by two notches by S&P to B with CreditWatch negative after Casino's parent Rallye (RALFP) entered into safeguard proceedings last week. Although Casino itself is not part of the proceedings, S&P believes there is significant event risk for Casino and its creditors. S&P also believes the proceedings raise questions about the reliability of the group's governance standards. The CreditWatch negative reflects significant uncertainties that could arise from Rallye entering safeguard proceedings and the impact that this could have on Casino, directly or indirectly.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/UniCredit, Commerzbank and Deutsche Telekom

UniCredit (UCGIM) plans to offload a €5bn non-performing loans portfolio to accelerate its balance sheet clean-up according to Bloomberg citing people familiar with the matter. The bank is looking into using a structured transaction in one or more tranches with the aim to complete the deal by the end of the year.

Alvaro del Pozo ...
  • Andres Bolumburu

SECTOR TELECOMUNICACIONES EUROPA: TRIDENTE DEFENSIVO (ANÁLISIS BANCO SABADELL)

SECTOR TELECOMUNICACIONES EUROPA: TRIDENTE DEFENSIVO (ANÁLISIS BANCO SABADELL)

MarketLine Department

Vodafone Group Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Vodafone Group Plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Vodafone Group Plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

MarketLine Department

Orange SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Orange SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Orange SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights Thi...

MarketLine Department

BT Group plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's BT Group plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by BT Group plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlight...

MarketLine Department

United Internet AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's United Internet AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by United Internet AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

Expert Corporate Governance Service (ECGS)

Deutsche Telekom, March 28, 2019

Item 5: PwC, Frankfurt am Main, is proposed as auditor for the current financial year.  We have no concerns over the ratio of non-audit/audit fees. However, we note that PwC has audited the Company since the financial year 1996 which exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of PwC as auditor.

Deutsche Telekom – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global indexes approaching major resistance Broad global indexes are bumping up against logical downtrend resistance. As a result, our outlook remains cautious and our baseline expectation for continued downward pressure on global equities remains intact. At the same time, we are seeing signs that the worst of the declines may be behind us as global cyclical Sectors show RS improvements while defensive Sectors display early signs of RS deterioration. • Regional/Country Overview. The U.S., Europe, and Japan all remain in downtrends from a price perspective, though major resistance levels are...

Dave Nicoski ...
  • Ross LaDuke

Global Equity Strategy

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Investors' primary sources of angst continue to revolve around concerns of (1) the global shift toward tighter monetary policy and the potential for perceived policy missteps, (2) trade and tariffs, and (3) the potential negative effects both (1) and (2) may have on global growth. Comments from Fed Chair Powell that interest rates are “just below” the neutral rate and the 90-day tariff ceasefire agreement between the U.S. and China have not been able to calm the markets. In Europe, ...

Jérôme VINERIER

Short term view - DEUTSCHE TELEKOM : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €15.002. Breaking below the support at €12.827 would invalidate the trend.

Jérôme VINERIER

Analyse court terme - DEUTSCHE TELEKOM : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 15,002 €. La rupture du support à 12,827 € invaliderait cette tendance.

Jérôme VINERIER

Short term view - DEUTSCHE TELEKOM : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €15.002. Breaking below the support at €12.827 would invalidate the trend.

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