Published On: Tue, Apr 2nd, 2019

Deutsche Telekom’s T-Systems to boost core profits, strives for cash: CEO

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FILE PHOTO:  German Telekom AG board member Al-Saleh is pictured before the annual shareholders meeting of the telecommunications giant in Bonn
FILE PHOTO: Adel Al-Saleh, member of the board of Deutsche Telekom AG and CEO of T-Systems of Germany’s telecommunications giant Deutsche Telekom is pictured before the company’s annual shareholders meeting in Bonn, Germany May 17, 2018. Picture taken May 17, 2018. REUTERS/Wolfgang Rattay/File Photo

April 2, 2019

HANOVER, Germany (Reuters) – Deutsche Telekom’s IT services arm T-Systems is on track to boost core profits this year, CEO Adel Al-Saleh told Reuters, but still has its work cut out to start delivering a cash return to Europe’s largest telecoms group.

“This year is a year where we need to drive growth in EBITDA, not only in revenue,” Al-Saleh told Reuters in an interview. “Our goal is to reach a positive cash contribution for the company by the end of 2021 or the beginning of 2022.”

(Reporting by Nadine Schimroszik; writing by Douglas Busvine; editing by Thomas Seythal)

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