May 14, 2020 / 5:03 AM / 22 days ago

Deutsche Telekom says coronavirus to have limited impact on financials

May 14 (Reuters) - Deutsche Telekom said on Thursday that the coronavirus pandemic would have a limited impact on its financial performance as it confirmed its forecasts for revenue and profits this year.

Europe’s largest telecoms company reported a 10.2% increase in first-quarter core profits to 6.54 billion euros ($7.07 billion), beating expectations in its own survey of analysts for 6.3 billion euros.

Deutsche Telekom reiterated its forecast for adjusted annual earnings before interest, taxation, depreciation and amortization after leases (EBITDA AL) - management’s preferred measure of profitability - of 25.5 billion euros this year.

This does not yet include Sprint, whose $23 billion takeover by U.S. unit T-Mobile was completed on April 1. Deutsche Telekom will issue fresh guidance, including Sprint, with its second-quarter results. ($1 = 0.9255 euros) (Reporting by Douglas Busvine Editing by Michelle Martin)

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