Deutsche Telekom reported a continued expansion of its TV customer base in Germany in the fourth quarter of 2025, though the pace of quarterly additions stayed modest relative to earlier periods of the year.
According to the telco’s Q4 2025 financial report, the number of TV subscribers – covering IPTV and satellite – reached 4.75 million at the end of December, up 22,000 from 4.73 million at the end of September, a quarterly increase of around 0.5%. On a year-on-year basis, this represented an increase of 109,000 subscribers or 2.4% compared with 4.64 million at the end of 2024.
The quarterly TV growth in Germany was slightly smaller than in Q3 2025, when Telekom reported an increase of 27,000 customers. In Q2 2025, the German TV base rose by 23,000 from 4.68 million to 4.70 million.
Across its broader European footprint, which includes markets such as Greece, Hungary, Poland, Slovakia and Croatia, Deutsche Telekom also reported TV customer growth in the fourth quarter. The company’s Europe segment posted 4.47 million TV customers (IPTV, satellite, cable) at the end of December, up 50 000 from 4.42 million at the end of September, equivalent to an increase of about 1.1% over the quarter and 1.3% year on year from 4.41 million at the end of 2024.
This broad European increase, though smaller in absolute scale compared with Germany’s net additions, indicates that television remains part of convergent fixed-network offerings across the region.
Group net revenue rose in Q4 2025 to €31.72 billion, up 2.5% year‑on‑year, while service revenue increased to €25.35 billion, up 2.1% compared with the same period in 2024. On an adjusted basis, EBITDA after leases (EBITDA AL) climbed to €10.83 billion, marking a 1.9% year‑on‑year increase. Free cash flow after leases in the quarter was €3.40 billion. Adjusted net profit was €2.13 billion for the quarter, slightly below the prior year’s figure. For the full year 2025, adjusted EBITDA AL reached €44.24 billion, free cash flow after leases grew 2.0% to €19.55 billion, and adjusted net profit rose to €9.75 billion. Earnings per share on an adjusted basis were €2.00 for 2025.
Looking ahead to 2026, Telekom expects continued growth in core profitability and cash flow. The company’s guidance calls for adjusted EBITDA AL of around €47.4 billion, free cash flow after leases of about €19.8 billion, and adjusted earnings per share of around €2.20, assuming constant exchange rates. This outlook underscores management’s expectation that revenue and service business trends will remain positive and that operational efficiency measures will support earnings expansion in the coming year.
CEO Tim Höttges highlighted that the company had “extended our network leadership, are improving all areas of our business through the systematic integration of artificial intelligence, and remain on course for success.”
