FRANKFURT, Feb 16 (Reuters) - Deutsche Telekom’s T-Systems subsidiary is trimming its forecasts for 2017 after a weak 2016, Wirtschafts Woche weekly reported, citing a memo published on the company’s intranet.
“We have adjusted the expectations for revenues and, in part, for profitability,” it cited T-Systems chief Reinhard Clemens and finance chief Christoph Ahrendt as saying in the memo.
It said the corporate data networks business T-Systems still expected to grow, but at a slower pace than previously forecast.
Deutsche Telekom was not immediately available for comment on the report.
T-Systems accounted for around 12 percent of Deutsche Telekom’s revenue and around 4 percent of core profit in 2015. The company is due to publish results for 2016 on March 2. (Reporting by Maria Sheahan; Editing by David Holmes)