Deutsche Telekom's FY/Q4 2022 investor conference call

CEO Tim Höttges + CFO Christian Illek presented DT's FY/Q4 2022 results and answered questions on Feb 23, 2022.

0:00:00 Please take note of the disclaimer.

▬▬▬▬▬ Presentation ▬▬▬▬▬
📣 Tim Höttges (CEO): Group results + guidance
0:01:11 Welcome
0:01:22 Overview (p#4)
0:03:34 Financials reported: strong growth (p#5)
0:04:30 Financials organic: strong growth (p#6)
0:05:42 FCF + net income: strong gowth (p#7)
0:06:38 Net debt + leverage ratios (p#8)
0:08:58 Review of guidance 2022 (p#9)
0:11:15 Guidance 2023: continued growth (p#10)
📣 Tim Höttges (CEO): CMD21 review
0:13:14 Leading network (p#12)
0:14:15 Customer growth (p#13)
0:14:49 ESG (p#14)
0:15:48 Indirect costs (p#15)
0:16:30 Group financials 2018-22 (p#16)
0:17:19 Ex US financials 2018-22 (p#17)
0:18:32 Capital allocation / portfolio (p#18)
0:19:20 CMD21 review (traffic lights) (p#19)
📣 Christian Illek (CFO): Segment review (p#20)
0:20:32 US: strong financial growth (p#21)
0:22:48 US: highest postpaid phone growth since merger (p#22)
0:23:35 DE: 25th consecutive quarter of EBITDA growth (p#23)
0:24:01 DE: service revenues: growing across the board (p#24)
0:24:51 DE: fixed KPIs: net adds improved, strong upselling continues (p#25)
0:26:20 DE: retail and wholesale fixed: strong growth (p#26)
0:26:50 DE: mobile KPIs: record customer intake (p#27)
0:27:18 DE: FTTH on track with buildout and monetization (p#28)
0:28:09 DE: 2018-22 financials (p#29)
0:28:37 EU: 20th consecutive quarter of organic EBITDA growth (p#30)
0:29:14 EU: strong commercial performance (p#31)
0:29:37 EU: CMD review (p#32)
0:30:18 Towers: strong growth (p#33)
0:30:59 Systems Solutions: on track (p#34)
📣 Tim Höttges (CEO): Wrap-up
0:32:04 Main takeaways (p#36)

▬▬▬▬▬▬▬ Q&A ▬▬▬▬▬▬▬
Questions were answered by Tim Höttges (CEO), Christian Illek (CFO) and Hannes Wittig (Head of IR)

0:33:56 1. 🙋‍♂️ Polo Tang (UBS)
-DE spectrum auction: willing to give up 900MHz early?
-Net neutrality: possible range of outcomes for sector + DT?
0:38:13 2. 🙋‍♂️ Jacob Bluestone (CS)
-Unwind TMUS forward purchase agreement: background?
-EU cross boarder M&A: current views?
0:42:37 3. 🙋‍♂️ Mattieu Robillard (Barclays)
-EU intramarket M&A regulation: do you see a change?
-DE pricing: will DT be able to raise prices?
0:47:04 4. 🙋‍♂️ Robert Grindle (Deutsche Bank)
-Leverage: will DT further delever despite ex-US leverage already very low?
0:49:45 5. 🙋‍♂️ Georgios Ierodiaconou (Citi)
-DE fiber deployment: confidence in CMD21 guidance?
-Indirect cost savings: guidance for 2023?
0:56:11 6. 🙋‍♂️ James Ratzer (Newstreet Research)
-TMUS shares floating price option: plans to excercise it?
-DE: Housing associations: opprotunity for DT?
1:00:31 7. 🙋‍♂️ David Wright (Bank of America)
-Dividend policy: outlook on payout ratio for 2024?
1:03:33 8. 🙋‍♂️ Joshua Mills (Exane)
-DE fiber alt nets: impact of difficulties from competitors on Glasfaser+ ambitions?
1:08:10 9. 🙋‍♂️ Andrew Lee (Goldman Sachs)
-Convergence in US: differences US vs Europe?
-Convergence strategy for TMUS?
1:11:51 10. 🙋‍♂️ Adam Fox-Rumley
-Cost: which categories are in focus?
-Pric18ing in DE: traction of familiy plans?
1:15:00 11. 🙋‍♂️ Jerry Dellis (Jefferies)
-Tower stake: willing to participate in inorganic growth?
-Intramarket consolidation: DT's perspective on EU?
1:19:27 12. 🙋‍♂️ Ottavio Adorisio (Societé Generale)
-Fiber wholebuy: protection against price increases?
-DE housing associations: growth potential beyond TV?
-Personell costs in Germany: what to expect for 2024?
1:24:07 13. 🙋‍♂️ Emmet Kelly (Morgan Stanley)
-OpenRAN: learnings from field test?
-Restructuring costs: outlook for 2023 after completion of Sprint integration?
1:28:58 14. 🙋‍♂️ Steve Malcolm (Redburn)
-DE: broadband revenue trends?
-Cash taxes: perspective for DE + EU?

📣 Tim Höttges (CEO): Closing remarks
1:32:52 Closing remarks

Context for FY22:

General background:

#DeutscheTelekom #telekom #DTEGY

[DT_IR]

0:00:00 Please take note of the disclaimer.
📣 Tim Höttges (CEO): Group results + guidance
0:01:11 Welcome
0:01:22 Overview (p#4)
0:03:34 Financials Q4/FY22 reported: strong growth (p#5)
0:04:30 Financials Q4/FY22 organic: strong growth (p#6)
0:05:42 FCF + net income: strong gowth (p#7)
0:06:38 Net debt + leverage ratios (p#8)
0:08:58 Review of guidance 2022 (p#9)
0:11:15 Guidance 2023: continued growth (p#10)
📣 Tim Höttges (CEO): CMD21 review
0:13:14 Leading network (p#12)
0:14:15 Customer growth (p#13)
0:14:49 ESG (p#14)
0:15:48 Indirect costs (p#15)
0:16:30 Group financials 2018-22 (p#16)
0:17:19 Ex US financials 2018-22 (p#17)
0:18:32 Capital allocation / portfolio (p#18)
0:19:20 CMD21 review (traffic lights) (p#19)
📣 Christian Illek (CFO): Segment review (p#20)
0:20:32 US: strong financial growth (p#21)
0:22:48 US: highest postpaid phone growth since merger (p#22)
0:23:35 DE: 25th consecutive quarter of EBITDA growth (p#23)
0:24:01 DE: service revenues: growing across the board (p#24)
0:24:51 DE: fixed KPIs: net adds improved, strong upselling continues (p#25)
0:26:20 DE: retail and wholesale fixed: strong growth (p#26)
0:26:50 DE: mobile KPIs: record customer intake (p#27)
0:27:18 DE: FTTH on track with buildout and monetization (p#28)
0:28:09 DE: 2018-22 financials (p#29)
0:28:37 EU: 20th consecutive quarter of organic EBITDA growth (p#30)
0:29:14 EU: strong commercial performance (p#31)
0:29:37 EU: CMD review (p#32)
0:30:18 Towers: strong growth (p#33)
0:30:59 Systems Solutions: on track (p#34)
📣 Tim Höttges (CEO): Wrap-up
0:32:04 Main takeaways (p#36)

▬▬▬▬▬▬▬ Q&A ▬▬▬▬▬▬▬
Questions were answered by Tim Höttges (CEO), Christian Illek (CFO) and Hannes Wittig (Head of IR)

0:33:56 1. 🙋‍♂ Polo Tang (UBS)
-DE spectrum auction: willing to give up 900MHz early?
-Net neutrality: possible range of outcomes for sector + DT?
0:38:13 2. 🙋‍♂ Jacob Bluestone (CS)
-Unwind TMUS forward purchase agreement: background?
-EU cross boarder M&A: current views?
0:42:37 3. 🙋‍♂ Mattieu Robillard (Barclays)
-EU intramarket M&A regulation: do you see a change?
-DE pricing: will DT be able to raise prices?
0:47:04 4. 🙋‍♂ Robert Grindle (Deutsche Bank)
-Leverage: will DT further delever despite ex-US leverage already very low?
0:49:45 5. 🙋‍♂ Georgios Ierodiaconou (Citi)
-DE fiber deployment: confidence in CMD21 guidance?
-Indirect cost savings: guidance for 2023?
0:56:11 6. 🙋‍♂ James Ratzer (Newstreet Research)
-TMUS shares floating price option: plans to excercise it?
-DE: Housing associations: opprotunity for DT?
1:00:31 7. 🙋‍♂ David Wright (Bank of America)
-Dividend policy: outlook on payout ratio for 2024?
1:03:33 8. 🙋‍♂ Joshua Mills (Exane)
-DE fiber alt nets: impact of difficulties from competitors on Glasfaser+ ambitions?
1:08:10 9. 🙋‍♂ Andrew Lee (Goldman Sachs)
-Convergence in US: differences US vs Europe?
-Convergence strategy for TMUS?
1:11:51 10. 🙋‍♂ Adam Fox-Rumley
-Cost: which categories are in focus?
-Pric18ing in DE: traction of familiy plans?
1:15:00 11. 🙋‍♂ Jerry Dellis (Jefferies)
-Tower stake: willing to participate in inorganic growth?
-Intramarket consolidation: DT's perspective on EU?
1:19:27 12. 🙋‍♂ Ottavio Adorisio (Societé Generale)
-Fiber wholebuy: protection against price increases?
-DE housing associations: growth potential beyond TV?
-Personell costs in Germany: what to expect for 2024?
1:24:07 13. 🙋‍♂ Emmet Kelly (Morgan Stanley)
-OpenRAN: learnings from field test?
-Restructuring costs: outlook for 2023 after completion of Sprint integration?
1:28:58 14. 🙋‍♂ Steve Malcolm (Redburn)
-DE: broadband revenue trends?
-Cash taxes: perspective for DE + EU?

📣 Tim Höttges (CEO): Closing remarks
1:32:52 Closing remarks

Context:
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▶ YouTube Playlist 'DT financial results' with recordings of Deutsche Telekom's previous quarterly results calls:

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▶ YouTube Playlist 'TMUS financial results' with recordings of T-Mobile US' previous quarterly results calls:

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