Deutsche Telekom AG Due Diligence

Run due diligence on Deutsche Telekom AG: check compliance and get alerts when suppliers or ownership change.

Germany · owned by Federal Republic of Germany (via KfW and direct holding) (Germany) · www.telekom.com · 29 vendors

Deutsche Telekom AG is one of the world's leading integrated telecommunications companies, offering fixed-network, mobile, internet, and IPTV services to consumers and businesses. Headquartered in Bonn, Germany, it operates across Europe and the United States through subsidiaries including T-Mobile. It is majority state-owned, with the Federal Republic of Germany holding a significant stake via KfW.

Resilience scores

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20 services in catalogue across 7 categories; runs on 29 sub-vendors.

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Last updated 2026-09-26 · revision 13

29 direct vendors, 237 subvendors

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Compliance

6 in-scope frameworks identified; showing 3.

FCC Regulations — Evidence found

Evidence: https://www.telekom.com/en/company/worldwide/profile/deutsche-telekom-in-north-america-355832

ISO 27001 (source) — No public evidence

Evidence: https://www.telekom.com/en/company/data-privacy-and-security/governance-security

SOC 2 (source) — No public evidence

Evidence: https://www.telekom.com/en/company/data-privacy-and-security

Financials

Three-year financials

Financial Resilience Score: 7/10

Deutsche Telekom AG demonstrates strong financial resilience underpinned by its scale (>€110bn revenue), geographic diversification across the US, Germany and broader Europe, and a consistently expanding adjusted EBITDA AL profile that surpassed €42bn in 2023. The group generates substantial adjusted free cash flow (>€10bn annually), supporting a progressive dividend, deleveraging, and continued capex into 5G and FTTH. Its ~50%+ economic stake in T-Mobile US provides exposure to the strongest US wireless growth story and contributes the bulk of group EBITDA. Investment-grade credit ratings (BBB / Baa2) with stable outlooks confirm capital market access on favorable terms. Resilience is tempered, however, by a heavy debt load (well over €100bn including lease liabilities), much of it inherited from the Sprint/T-Mobile US transaction, which exposes the group to refinancing risk in a higher-rate environment. Reported revenue declined 2.1% in 2023 due to USD/EUR translation, illustrating significant FX sensitivity. Capex intensity remains high due to fiber rollout in Germany and ongoing US network investment, while regulatory risk (EU/German wholesale pricing, US FCC) and intensifying altnet competition in Germany pressure margins. The German government's ~30% stake provides strategic stability but can constrain corporate flexibility. On balance, the group is highly resilient but not without leverage and concentration risks.

Key strengths: Scale with >€110bn revenue and global diversification, ~50%+ economic ownership of T-Mobile US driving growth, Adjusted EBITDA AL expansion to €42bn in 2023, Adjusted free cash flow >€10bn supporting dividends and deleveraging, Investment-grade credit ratings (BBB / Baa2, stable), Network leadership in Germany (largest fixed/mobile network), German government anchor shareholder (~30%)

Risk factors: High leverage with net debt >€100bn including lease liabilities, FX translation risk from large USD exposure via T-Mobile US, Regulatory exposure in Germany, EU and US (FCC), High capex intensity for 5G and FTTH rollout, Intensifying fiber competition in Germany from altnets, Refinancing cost pressure in higher interest rate environment

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