BERLIN: German telecoms operator Deutsche Telekom said Friday it had defied the coronavirus pandemic to post record revenues last year thanks to its acquisition of US rival Sprint.
The Bonn-based company said revenue jumped 25.4 percent to 101 billion euros ($122 billion) in 2020, surpassing the 100-billion-euro mark for the first time in the company's history.
The $26-billion merger between Deutsche Telekom's US unit T-Mobile and Sprint was completed in April.
Adjusted operating profit (EBITDA) soared 41.6 percent to 35 billion euros in 2020, with the group expecting a further rise to 37 billion euros this year. Meanwhile, adjusted net profit increased 15.5 percent to 5.7 billion euros. Boosted by the acquisition of Sprint, Telekom's US arm T-Mobile was the driving force behind the strong performance, with a 93 percent increase in adjusted operating profit to $24 billion.
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