Deutsche Telekom will today report the biggest net loss in German corporate history after booking billions in asset writedowns last year, but robust fourth-quarter figures may help reverse a 19 per cent fall in its share price so far this year.
The group, which has a large number of Irish shareholders on its register, hopes the figures and a renewed pledge to cut debt without a share issue will restore investors' confidence.
Markets were shaken by a two-notch credit rating downgrade by Moody's Investors' Service in January and the launch of a €2.3 billion mandatory convertible bond last month. People close to the company have warned not to expect any new disposal announcement today and played down forecasts from some analysts suggesting net debt could have dropped below the €60 billion mark in December.
But they said Mr Kai-Uwe Ricke, chief executive, and Mr Karl-Gerhard Eick, finance director, would unveil "remarkably solid" fourth-quarter operating results, particularly from the T-Com fixed-line business, DT's main cash generator, and the T-Mobile subsidiary, its main engine of growth.
DT is understood to have either matched or slightly exceeded analysts' expectations for earnings before interest, tax, depreciation and amortisation of €4.2 billion in the fourth quarter, up from €3.8 billion a year earlier.
The most pessimistic forecasts anticipate a record €27.9 billion net loss for the year.
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