August 8, 2019 / 5:04 AM / 9 days ago

Deutsche Telekom Q2 in line, confirms guidance

FRANKFURT, Aug 8 (Reuters) - Deutsche Telekom on Thursday reported in-line growth in the second quarter and confirmed its guidance for the year as it pushes to complete the $26 billion takeover by U.S. unit T-Mobile of competitor Sprint.

Europe’s largest telco by revenues said that revenue and earnings before interest, taxation, depreciation and amortization after leases (EBITDA AL) both grew by 7.1%, in line with expectations in a company poll.

Organically, after stripping out the impact of acquisitions and exchange rate effects, revenue grew 2.9% and 3.5% respectively. Deutsche Telekom confirmed its guidance for the year for EBITDA AL of 23.9 billion euros ($26.8 billion).

“We remain reliable,” said CEO Tim Hoettges. “Our business performed well in all areas again in the first half of 2019. That puts us in a position to deliver the results we promised.” ($1 = 0.8921 euros) (Reporting by Douglas Busvine; editing by Tom Sims)

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