Deutsche Telekom bets on AI and raises dividend
Sees net revenues rising 4% per year on average through 2027
Sees operating profit rising 4-6% through 2027
To increase 2024 dividend to 0.90 euros per share
Adds CFO and CEO comments in paragraphs 2-3, updates shares in 4
By Marleen Kaesebier and Bernadette Hogg
GDANSK, Oct 10 (Reuters) -Deutsche Telekom DTEGn.DE expects its net revenue to increase by an average of 4% per year through 2027, helped by artificial intelligence and automation, it said on Thursday.
The German company also said it planned to keep reducing employee numbers, in a move that finance chief Christian Illek said would be supported by advances in AI-assisted technologies such as chatbots. He did not provide any figures.
"We are initiating the next stage," said CEO Tim Hoettges ahead of the company's two-day Capital Markets Day on Thursday, later telling journalists that he believed AI could increase productivity at the company by 15%.
The group's adjusted operating profit is set to rise by 4% to 6% through 2027, the Bonn-based company said. Its shares were up 1.5% at 1150 GMT.
"We have achieved or even exceeded nearly all of our targets," said Hoettges, referring to goals set at Telekom's last Capital Markets Day in 2021.
"We will build on this position in the future, for example, by further intensifying the use of artificial intelligence."
The management board plans to increase its dividend payout for 2024 to 0.90 euros per share from 0.77 last year. Telekom aims to distribute between 40% and 60% of its adjusted earnings per share, set to rise to around 2.50 euros by 2027.
Telekom also announced plans to buy back up to 2 billion euros ($2.2 billion) of shares next year to recoup some of the dilution effects of its 2021 capital increase.
In addition to investments and dividend payments, the group intends to generate more than 15 billion euros by 2027 that it plans to use flexibly, with options including increasing its stake in U.S. subsidiary T-Mobile US TMUS.O and buying back more shares.
T-Mobile had its Capital Markets Day last month, where its CEO Mike Sievert said it planned to return up to $50 billion to shareholders through 2027 via share buybacks and dividends.
ODDO BHF analyst Stephane Beyazian said Telekom "could have done better" on shareholder returns, but sees its plans to increase efficiency with AI-based automation, for example in customer centres, as good news.
($1 = 0.9142 euros)
Reporting by Marleen Kaesebier in Gdansk and Matthias Inverardi in Duesseldorf; Editing by Miranda Murray, Jan Harvey and Mark Potter
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