The German operator has good results although the changes in the roaming generate some doubts for the future.
Germany stands out, where the negative effect caused by a decline in the fixed market and fact that 2/3 of customer base in GER and EU migrated to IP has been compensated by the effect of the commercial offers, with which sales are maintained with growth of +0.1%.
Europe shows the negative effect of roaming with organic EBITDA falling -1.3% (compared to -0.2% in the second quarter). Cloud revenues have the most positive effects: 14% grow.
Adjusted EBITDA was still up 4.5 percent to EUR 2.2 billion, and the margin rose by 1.7 points to 39.9 percent.