Deutsche Telekom (DTE) AGM 2026 summary

Opening remarks and agenda

• AGM opened with a welcome to shareholders, press, and guests, emphasizing inclusivity and transparency.

• Full attendance of the management board and nearly all supervisory board members; agenda and procedures explained, including voting and Q&A logistics.

• Meeting broadcast live online, with all relevant documents and counterproposals made available to attendees.

Financial performance review

• 2025 marked another record year: revenue up 4.2% to EUR 119.1 billion, adjusted EBITDA AL up 4.7% to EUR 44.2 billion, and adjusted net income up 3.97% to EUR 9.7 billion.

• Free cash flow increased 2% to EUR 19.5 billion; earnings per share rose 5.2% to EUR 2.

• Growth achieved across Germany, the U.S., and Europe, with T-Systems up 14.4%.

• Forecast for 2026: earnings up 6% to EUR 47.4 billion, free cash flow up 3% to EUR 19.8 billion, and EPS up 10% to EUR 2.20.

Board and executive committee updates

• CEO Timotheus Höttges reappointed until end of 2028; several board changes including departures and new appointments.

• Dr. Mudesir resigned unexpectedly; Dr. Illek assumed interim responsibility for product and technology.

• Supervisory board welcomed new members with expertise in AI and software, including Dr. Dohmke and Dr. Herzig.