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General

Deutsche Telekom CEO announces new broadband targets at shareholder meeting

Thursday 17 May 2018 | 12:11 CET | News

Deutsche Telekom CEO Tim Hoettges has stressed the company’s leading role in Germany’s broadband roll-out and announced new targets for Telekom’s broadband strategy at the company’s annual shareholder meeting in Bonn. Telekom is pursuing a strategy of "billions for millions" that aims to provide 26 million households with internet up to 100 Mbps and 15 million households with broadband up to 250 Mbps by the end of the year, said Hoettges.

With a 40 percent share of the broadband market and EUR 5.4 billion invested in networks and data centres in Germany last year, Telekom is set to provide 80 percent of households and companies with high-speed internet by the end of the year, either directly or indirectly, he said. Telekom is also "resolutely and constantly" pursuing the build-out of FTTH connections, including projects in cities like Bautzen (56,000 homes) or Naumburg/Saale (46,000 homes), he added. Customer service complaints meanwhile dropped 17 percent in 2017 alone thanks to improvements in this area.

Hoettges also called for increased competition and for other firms to invest in new networks in Germany while cautioning that Germany had no need for more regulations on fibre lines if it wanted to achieve its nationwide gigabit-speed goals. Hoettges cited operations outside Germany as important growth sources, including the impending merger with Sprint in the US as well as planned acquisitions in Austria, the Netherlands and Poland that could lead to “one connectivity” in these countries. 

The supervisory and management boards proposed a dividend of EUR 0.65 per share during the meeting, a 30 percent increase over the past three years, as a result of the company’s “successful financial year” in 2017 and positive development in free cash flow, said Telekom. Deutsche Telekom said it will provide more details on its medium-term planning during its Capital Markets Day on 24 and 25 May.



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Categories: General
Companies: Deutsche Telekom
Countries: Germany
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