By Carlo Martuscelli

 

Deutsche Telekom AG said Wednesday that net profit rose 78% in 2019 as revenue climbed higher, and forecast further growth in the year ahead.

The German telecommunications company made a profit of 3.87 billion euros ($4.19 billion) for the year compared with EUR2.17 billion in 2018, on revenue that grew 6.4% to EUR80.53 billion.

Adjusted earnings before interest, taxes, depreciation, amortization after leases, or Ebitda AL, rose 7.2% to EUR24.7 billion from EUR23.1 billion, giving the company an adjusted Ebitda AL margin of 30.7%, Telekom said.

The company said it expects revenue to increase in 2020, while adjusted Ebitda AL is forecast at about EUR25.5 billion.

 

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com; @carlomartu

 

(END) Dow Jones Newswires

February 19, 2020 01:41 ET (06:41 GMT)

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