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Deutsche Telekom's T-Systems trims forecasts for 2017 - Wirtschafts Woche
February 16, 2017 / 7:33 AM / 10 months ago

Deutsche Telekom's T-Systems trims forecasts for 2017 - Wirtschafts Woche

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)

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