DT’s focus on FTTH rollout has fuelled a boom in profits, both in Germany and across Europe

Deutsche Telekom has reported a 32.8 per cent jump in net profits, as the company posted a strong set of financials for the first quarter of 2018.

Net profits reached €992 million in Q1 2018, up from €747 million in Q1 2017.

Domestic revenues also increased at Germany’s biggest telco, ending the quarter at €6.094 billion.

“We will remain on course for success in 2018,” said Tim Höttges, Chairman of the Board of Management at Deutsche Telekom. “Our growth profile, which is unique in our industry, enables us to raise our forecast once again.”

Deutsche Telekom’s robust financials and leap in profitability has been driven in part by its rollout of full fibre broadband networks across Germany. Over the course of the last year, Deutsche Telekom has connected 4.4 million properties in Germany to its full fibre networks. There are now 10.4 million homes in Germany that are connected to DT’s full fibre networks, an increase of 37 per cent year on year. Q1 2018 was a record quarter for Deutsche Telekom as it added 781,000 new fibre to the home (FTTH) connections.

In the US, Deutsche Mobile’s subsidiary T-Mobile acquired 1.4 million new customers between January and March 2018. The impact of its $26.5 billion merger with rival Sprint will not show in this quarter’s reporting.