German leviathan Deutsche Telekom – Europe’s largest telco by revenues – has reported soaring second quarter net income of EUR943 million (USD1.2 billion), up 63% on the same period last year. Sales grew 14.7% to EUR14.4 billion as the 1.8% decline in domestic turnover was insufficient to seriously dent the 9.2% rise in international revenues. Cash cow T-Mobile International was the main driver behind the impressive results, with the unit breaking the EUR7 billion sales barrier for the first time, as well as adding 7.4 million wireless subscribers in the last twelve months to take its total to 80.9 million. Broadband lines increased by 2.2 million since June 2004 to 7.1 million altogether, while the number of telephone lines (including ISDN channels) fell from 57.7 million to 56.1 million. Deutsche Telekom remains one of the most heavily debt-saddled companies in Europe: in the second quarter net debt rose by EUR1.9 billion to EUR44.5 billion. CFO Karl-Gerhard Eick said he expects debt to decline in the second half of 2005.
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