BONN (dpa-AFX) - German telecom giant Deutsche Telekom AG (DTEGY.PK) reported Thursday that its second-quarter net profit declined 20.1 percent to 754 million euros from last year's 944 million euros.
Earnings per share were 0.16 euro, down 20 percent from 0.20 euro a year ago.
Adjusted net profit was 1.28 billion euros, compared to 1.33 billion euros last year. Adjusted earnings per share were 0.27 euro, compared to 0.28 euro a year ago.
EBITDA AL, however, climbed 50.1 percent from last year to 8.59 billion euros. Adjusted EBITDA AL went up 56.4 percent to 9.8 billion euros.
Net revenue grew 37.5 percent to 27.04 billion euros from last year's 19.66 billion euros a year ago after inclusion of Sprint.
Looking ahead, the company raised its fiscal 2020 guidance, with adjusted EBITDA AL now expected to come in at approximately 34 billion euros, up from 25.5 billion euros.
The company said, 'Indications suggest that the severe economic downturn seen in the first half of 2020 will be followed by gradual recovery in the second half of the year. However, if measures such as smart distancing do not succeed in keeping the rate of new infections to a minimum and restrictions cannot be eased further to restore a sense of safety to businesses and households, then a sustained period of weakness is to be expected.'
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