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

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Preview UTDI et DRI : peu d’enjeu en attendant le résultat des enchères… d’ici plusieurs semaines

>Top départ du cycle d’enchères malgré tous les recours - En temps et en heure, la BundesNetzAgentur (BNetzA) entame aujourd’hui les enchères de spectre 5G en Allemagne. Comme lors des trois dernières sessions de 2000, 2010 et 2015, la multitude de recours des participants et les tentatives gouvernementales d’influencer le calendrier n’ont pas changé la donne. A l’image des sessions précédentes de respectivement 18, 38 et 23 jours ouvrés (locaux ouverts de 8h à 17h30)...

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Preview for United Internet, Drillisch: little at stake pending the results of the auctions...in several weeks

>Starting pistol for the auction cycle despite the appeals - As scheduled, the BundesNetzAgentur (BNetzA) today opens the auctions for 5G spectrum in Germany. As was the case for last three sessions, in 2000, 2010 and 2015, the many appeals from participants and governmental attempts to influence the calendar have failed to alter the set up. Like the previous sessions of, respectively, 18, 38 and 23 working days (premises open from 8.00 a.m. to 5.30 p.m.), the process...

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.

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.

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

Coffee, Croissants & Credit/DB, Commerzbank, DT, Iberdrola, E.ON

Deutsche Bank (DB) and Commerzbank (CMZB) have resumed discussions on a possible merger of the two lenders according to Bloomberg citing German Focus. The banks' CEOs have had intense talks for some days after receiving mandates from their management and supervisory boards to do so according to the article. Earlier press sources implied that a merger of the two could depend on the performance of Deutsche Bank in the first quarter 2019.

Deutsche Telekom AG - September 2018 (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 following the merger of TMUS and Sprint.

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

Compares key performance metrics against industry peers.

Deutsche Telekom AG: Key Facts and Statistics - FYE December 2017

A summary company profile, detailing Deutsche Telekom AG’s business operations and financial highlights.

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

Compares key performance metrics against industry peers.

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Preview UTDI et DRI : peu d’enjeu en attendant le résultat des enchères… d’ici plusieurs semaines

>Top départ du cycle d’enchères malgré tous les recours - En temps et en heure, la BundesNetzAgentur (BNetzA) entame aujourd’hui les enchères de spectre 5G en Allemagne. Comme lors des trois dernières sessions de 2000, 2010 et 2015, la multitude de recours des participants et les tentatives gouvernementales d’influencer le calendrier n’ont pas changé la donne. A l’image des sessions précédentes de respectivement 18, 38 et 23 jours ouvrés (locaux ouverts de 8h à 17h30)...

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Preview for United Internet, Drillisch: little at stake pending the results of the auctions...in several weeks

>Starting pistol for the auction cycle despite the appeals - As scheduled, the BundesNetzAgentur (BNetzA) today opens the auctions for 5G spectrum in Germany. As was the case for last three sessions, in 2000, 2010 and 2015, the many appeals from participants and governmental attempts to influence the calendar have failed to alter the set up. Like the previous sessions of, respectively, 18, 38 and 23 working days (premises open from 8.00 a.m. to 5.30 p.m.), the process...

Russell Waller

Deutsche Telekom Q4 18: Solid numbers, good guide, worries still dominate

DT has reported a solid set of Q4 results, and given EBITDA guidance in-line with expectations. Given the many worries that surround DT (auction/capex/dividend), that is probably not be enough for the shares to outperform.

Alexandre Iatrides

Deutsche Telekom : Fairly good figures in Germany

>Revenues and EBITDA 1.5% higher than expected - Revenues 1.5% above expectations: Revenues grew by 5.7% yoy to € 20.26bn (vs Oddo: € 19.98bn, consensus: € 19.96bn) as Germany and US were stronger than expected: 1/ Germany (-1.1% yoy vs -2% exp.) still hit by IFRS 15 effect and weaker wholesale despite improved mobile revenue mix and improving fixed, excl. IFRS 15, mobile services 2% vs market +0.5% 2/ strong US (+10.7% yoy vs +9.5% exp.) FX effects (services revenu...

Alexandre Iatrides

Deutsche Telekom : Fairly good figures in Germany

>Revenues and EBITDA 1.5% higher than expected - Revenues 1.5% above expectations: Revenues grew by 5.7% yoy to € 20.26bn (vs Oddo: € 19.98bn, consensus: € 19.96bn) as Germany and US were stronger than expected: 1/ Germany (-1.1% yoy vs -2% exp.) still hit by IFRS 15 effect and weaker wholesale despite improved mobile revenue mix and improving fixed, excl. IFRS 15, mobile services 2% vs market +0.5% 2/ strong US (+10.7% yoy vs +9.5% exp.) FX effects (services revenu...

A director bought 97,800 shares at 12.925EUR and

A director at Deutsche Telekom Ag bought 97,800 shares at 12.925EUR and the significance rating of the trade was 100/100. 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 ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Olfa Taamallah
  • Rémi Adam
  • Stephane Houri
  • Veysel Taze
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/25/2019

On 30 January, Atos is to host a CMD at which we expect management to adopt an upbeat stance on targets for growth, margins and FCF to beat expectations which have been very low since October 2018. The levers to achieve these targets are credible, in our view. Cf. report published today. - ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Olfa Taamallah
  • Rémi Adam
  • Stephane Houri
  • Veysel Taze
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/01/2019

Le 30 janvier, le management d’Atos devrait mener un CMD offensif et proposer des objectifs de croissance, de marge et de FCF supérieurs aux attentes, qui ont bien baissé depuis octobre dernier. Et les leviers à actionner nous semblent crédibles. Cf. étude publiée ce jour. - ...

Alexandre Iatrides ...
  • Florent Laroche-Joubert
  • Johanna Jourdain
  • Matthias Desmarais
  • Rémi Adam
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/27/2018

Buy recommendation reiterated based on the company’s repositioning which is now paying off (performances = peers), the expected continuation of solid profit growth (3-year EPS CAGR = +10%) and highly attractive valuation multiples (2019e P/E = 9x). Our target price of € 125 offers 50% upside. - Cf. equity report published last evening - ...

Alexandre Iatrides ...
  • Florent Laroche-Joubert
  • Johanna Jourdain
  • Matthias Desmarais
  • Rémi Adam
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/11/2018

Recommandation Achat réitérée sur la base d’un repositionnement qui porte ses fruits (performances = comparables), de la poursuite attendue d’une solide progression des profits (TMVA BPA 3 ans = +10%) et de multiples de valorisation particulièrement attractifs (PE 2019e = 9x). Notre objectif de cours de 125 € offre un potentiel de 50%. - Cf. étude publiée hier soir. - ...

Alexandre Iatrides ...
  • Fatma Agnès Hamdani
  • Martial Descoutures
  • Olivier Lebrun
  • Pierre Corby
  • Rémi Adam

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/23/2018

At the CMD we expect AccorHotels to update its medium-term guidance for EBITDA (including M&A already undertaken). The risk of disappointment appears limited, with consensus forecasts suggesting RevPAR growth of 0.5% per annum for 2019-2021. Cf report published this morning. - ...

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.

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

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

Coffee, Croissants & Credit/DB, Commerzbank, DT, Iberdrola, E.ON

Deutsche Bank (DB) and Commerzbank (CMZB) have resumed discussions on a possible merger of the two lenders according to Bloomberg citing German Focus. The banks' CEOs have had intense talks for some days after receiving mandates from their management and supervisory boards to do so according to the article. Earlier press sources implied that a merger of the two could depend on the performance of Deutsche Bank in the first quarter 2019.

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

Coffee, Croissants & Credit/BT working on defence against foreign suitor

BT Group (BRITEL) is strengthening its defences to fend off a potential takeover from Deutsche Telekom (DT), the Mail on Sunday is reporting. BT is consulting Goldman Sachs and M&A firm Robey Warshaw and is also likely to sound out Perella Weinberg and JP Morgan on its strategic options and defence strategy, according to the newspaper.

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

Coffee, Croissants & Credit/KPN, DT, UniCredit, EDF and Orsted

KPN (KPN) is targeting to delever its balance sheet and has now officially communicated a net debt/EBITDA target of less than 2.5x in the medium term and management is committed to a solid investment grade profile (previously, the wording was investment grade profile). KPN's net debt/EBITDA stood at 2.7x at the end of 3Q18. We view the key points of KPN's CMD as supportive for the company's spreads. We do note that KPN's longer dated bonds, the KPN0.625 4/25 and KPN1.125 9/28, trade expensively. (open document for full stories)

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

Coffee, Croissants & Credit/DT, KPN, German coal, Snam and EDF

• Deutsche Telekom is reported to have gained EU approval without conditions for the acquisition of Tele2's Dutch operations, Reuters reported yesterday citing people familiar with the topic. Late yesterday evening, Tele2 said it had not yet received the EU decision. We view a nod without remedies as supportive for DT's and also KPN's spreads. Although, the new combined entity is a stronger competitor to both KPN and VodafoneZiggo, the market will consolidate from 4 to 3 mobile players, with Tele2 NL previously being the most aggressive of the 4 mobile network operators. We note that KPN's lon...

ING
Hendrik Wiersma

Deutsche Telekom/Bonds fairly valued/STABLE

Deutsche Telekom released a solid set of 2Q18 numbers this morning. The full guidance was inched up for the second time this year. DT's bonds trade largely in line with Orange in maturities up to 6 years, while the longer dated bonds offer a pick-up. This is warranted by the expected temporarily increase in DT's leverage and the integration risks following the planned merger with Sprint. Therefore we view DT's bonds as fairly valued.

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

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

Summary Marketline's freenet 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 freenet 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. Key Highlights T...

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...

ICD Research Department

Deutsche Telekom AG : Technology and Communications - Company Profile, SWOT & Financial Analysis

Synopsis ICD Research's "Deutsche Telekom AG : Technology and Communications - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and services, SWOT analysis, business description, company history, financial analysis, mergers & acquisitions, recent developments, key employees, company locations and subsidiaries as well as competitive benchmarking data. Summary This report is a crucial resource for industry executives and anyone looking to access key inform...

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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