During company’s first virtual shareholders’ meeting on 19th June, Deutsche Telekom celebrated its successes and growth over the past 25 years, whilst also setting out its major ambitions in both the European and US markets.
CEO Timotheus Höttges spoke about the company’s ongoing transformation, saying “Shaping the change. This has made us strong… Deutsche Telekom was once first and foremost a fixed-network provider. Today, we are a one-stop shop for fixed network, mobile communications, and TV services. Deutsche Telekom used to be analog. Today, we are digital.”
The completion of the merger of the US business with its competitor Sprint was another cause for celebration, marking a milestone for the company in the US. Further investments both in the US and European markets were also promised.
Looking closer to home, Höttges set out Deutsche Telekom’s targets for the German fixed network, with the focus now on FTTH. “My goal is to connect every household in Germany with optical fibre by 2030. This requires multi-billion-euro investments for Germany. Some will come from us. And some from our competitors”.
Deutsche Telekom’s social responsibility was also a primary focus of discussions. Höttges spoke of the Corona Warn app which was developed in partnership with SAP, at the request of the German federal government. He also referred to the launch of the Group’s “We care for our planet” initiative and the ambitious targets for the entire Group to transition to renewable energy in the coming year.
The pandemic has produced challenges for every business and Deutsche Telekom has not been immune to this. However, Höttges confirmed the Group’s growth targets despite these challenges. “Of course we are also feeling the effects. From bad debts. Forgone roaming revenues and temporary shop closures. But we are confident that we will bounce back. Because digitalization is everywhere right now. And this brings us opportunities”.
To find out more about investment in the German connectivity market & FTTH roll-out, join us for Connected Germany 2020.