Deutsche Telekom sales down

Deutsche Telekom reported second-quarter results in line with expectations and confirmed its outlook on the back of solid earnings in Germany, its biggest market. Adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda), excluding its T-Mobile UK venture with Orange UK were €5bn (£4.14bn), down 4.7 per cent on sales of €15.5bn, which fell 4.4 per cent. The telecoms group reiterated it aims to reach around €20bn in Ebitda this year and generate free cash flow of around €6.2bn.