BERLIN: Deutsche Telekom reported forecast-beating fourth-quarter earnings on Thursday, citing customer growth in Germany and strong performance from T-Mobile US, and issued guidance for profit to grow this year.

Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) stood at 9.96 billion euros ($10.58 billion) for the quarter, beating consensus estimates of 9.9 billion euros in a poll of analysts published by the company.

The telecoms operator’s quarterly revenue increased by 4.0% to 29.8 billion euros, below consensus estimates of 30.0 billion euros.

“The upheavals in the world, and their consequences, are not without their effects on Deutsche Telekom,” said CEO Tim Hoettges. “But by continuing to execute our strategy, we were nevertheless able to meet all of our targets in 2022.” For the full year 2022, Telekom reported revenues of 114.4 billion euros, up 6.1% from the previous year, and adjusted EBITDA AL of 40.2 billion euros, up 7.7%. The group said it now expected adjusted EBITDA AL of around 40.8 billion euros in the 2023 financial year.