BERLIN (Reuters) – Deutsche Telekom said it was targeting growth in core profits of 3-5% per year through 2024, and annual increases in revenue of 1-2%, in new mid-term targets announced on Thursday ahead of a two-day investor presentation.
Adjusted earnings per share are expected to rise to more than 1.75 euros ($2.13) by 2024, compared to 1.20 euros in 2020, the Bonn-based telecoms group that operates in Europe and the United States said in a statement.
Management would propose a divided of 40-60% of adjusted earnings per share, subject to a floor of 0.60 euros that was introduced after U.S. unit T-Mobile agreed to take over smaller rival Sprint.
“We step up our efforts,” said CEO Tim Hoettges. “We want to outperform the strong development of the last few years and lead the Group into the future with sustainable growth.”
($1 = 0.8210 euros)
(Reporting by Douglas Busvine; Editing by Riham Alkousaa)