UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2005

DEUTSCHE TELEKOM AG

(Translation of registrant’s name into English)

Friedrich-Ebert-Allee 140
53113 Bonn
Germany

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or
Form 40-F.

Form 20-F  ý   Form 40-F  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation
S-T Rule 101 (b)(1):  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation
S-T Rule 101 (b)(7):  o

Indicate by check mark whether the registrant by furnishing the information contained in this form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  o   No  ý

This report is deemed submitted and not filed pursuant to the rules and regulations of the Securities and Exchange Commission.

CAUTIONARY NOTE REGARDING NON-GAAP FINANCIAL MEASURES

This report contains a number of “non-GAAP financial measures” or financial measures with non-GAAP components, including EBIT, EBIT margin, adjusted EBT, adjusted EBIT, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income/loss, capex, free cash flow, cash contribution, gross debt, net debt, ARPU, SAC, CCPU and CPGA.  In addition, certain of the information contained herein includes presentations in which most or all line items have been adjusted for “special influences,” and all such special influences and line items so adjusted constitute non-GAAP financial measures.   Significant subjective judgment is involved in the designation of any particular influence on our financial performance as a “special influence,” and some of such influences may recur from period-to-period.  In general, wherever the term “adjusted” appears in this report, it designates a non-GAAP financial measure.

These non-GAAP financial measures should not be viewed as a substitute for financial measures prepared in accordance with generally accepted accounting principles (“GAAP”).  Our non-GAAP financial measures may not be comparable to non-GAAP measures used by other companies.  Our management team often uses non-GAAP measures in the management of our business, and believes that they may be helpful to some investors in better understanding trends in our business and performance.  A Glossary defining many of the non-GAAP measures used in this report is placed at the end of the Back-up Materials accompanying this report.

In addition, this report contains tables in which non-GAAP financial measures are presented together with GAAP financial measures.  Some of those tables are headed “German GAAP” or “IFRS.”  You are cautioned not to assume that the non-GAAP financial measures included in such tables have been prepared in accordance with GAAP.  The inclusion of a non-GAAP measure in such a table merely signifies that it has been derived from underlying figures that have been prepared in accordance with GAAP.

CAUTIONARY NOTE REGARDING HISTORICAL FINANCIAL INFORMATION PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS

This report contains financial information that has been prepared in accordance with International Financial Reporting Standards, or “IFRS.”

The accounting policies applied assume that, with the exception of IAS 39 “Financial Instruments: Recognition and Measurement” and IFRIC 3 “Emission Rights” all existing standards and interpretations currently in issue from the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC) will be fully endorsed by the EU. The accounting policy for financial instruments takes account of the proposed EU revisions to IAS 39 and complies with the amended IAS 39. IFRIC 3 however is not relevant for Deutsche Telekom.

All IFRS published until the date of this report have been endorsed by the EU except for the following standards and interpretations:

• IAS 19—Amendment (December 2004) “Actuarial Gains and Losses, Group Plans and Disclosures”.

• IAS 39 “Financial Instruments: Recognition and Measurement” has only been partially endorsed.

• IAS 39—Amendment (December 2004) “Transition and Initial Recognition of Financial Assets and Financial Liabilities”.

• IFRS 6 “Exploration for and Evaluation of Mineral Resources”.

• IFRIC Amendment to SIC-12: “Scope of SIC-12 Consolidation—Special Purpose Entities”.

• IFRIC 2 “Members’ Shares in Co-operative Entities and Similar Instruments”.

• IFRIC 3 “Emission Rights”.

• IFRIC 4 “Determining Whether an Arrangement contains a Lease”.

• IFRIC 5 “Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds”.

Subject to EU endorsement of outstanding standards and no further changes from the IASB, this information is expected to form the basis for comparatives when reporting financial results for 2005 and for subsequent reporting periods. We cannot assure you, however, that no material changes will take place in IFRS between the date hereof and the first date on which we are required by applicable law to publish financial statements under IFRS.

Deutsche Telekom

IFRS and New Structure.

April 2005.

Investor Relations

Disclaimer 1.

This presentation contains forward-looking statements that reflect the current views of Deutsche Telekom management with respect to future events. The words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “project” and “should “ and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on current plans, estimates, and projections, and therefore you should not place too much reliance on them. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond Deutsche Telekom’s control, including, without limitation, those factors set forth in “Forward-Looking Statements” and “Risk Factors” contained in Deutsche Telekom’s annual report on Form 20-F. If these or other risks and uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, Deutsche Telekom’s actual results may be materially different from those expressed or implied by such statements. Deutsche Telekom does not intend or assume any obligation to update these forward-looking statements.

This presentation contains a number of non-GAAP figures, such as EBITDA and EBITDA adj. for special influences, EBITDA margin, OIBDA, adj., capex, adj. net income, free Cash-Flow, and gross and net debt. These non-GAAP figures should not be viewed as a substitute for our GAAP figures. Our non-GAAP measures may not be comparable to non-GAAP measures used by other companies. To interpret the non-GAAP measures, please refer to the Backup materials accompanying this presentation and the “Reconciliation to pro forma figures” posted on Deutsche Telekom’s investor relations website under www.deutschetelekom.com.

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Disclaimer 2.

The Committee of European Securities Regulators recommends that selected IFRS financial information be disclosed in the reporting on the 2004 financial year. In line with this recommendation, we are presenting here the preliminary consolidated balance sheets, consolidated income statements and net debt under IFRS as well as the preliminary reconciliation of shareholders’ equity, net income and net debt from German GAAP (HGB) to IFRS for the 2003 and 2004 financial years. The disclosure of net debt is not based on any IFRS guidance. This measure is disclosed voluntarily. In accordance with IFRS 1, the assets and liabilities carried in the preliminary consolidated balance sheets and consolidated income statements under IFRS that are presented here are measured in line with the relevant IFRS standards, compliance with which is mandatory as of December 31, 2005, the date on which the consolidated financial statements under IFRS are prepared for the first time, to the extent that these statements were published up until December 31, 2004. Deutsche Telekom has applied IFRIC 4 since January 1, 2003. The resulting differences between the IFRS carrying amounts and the carrying amounts of the assets and liabilities in the consolidated balance sheet under German GAAP for the period ended December 31, 2002 are recognized directly in equity at the time of the transition to IFRS.

There can be no guarantee that the final consolidated balance sheets, consolidated income statements and net debt under IFRS will not deviate from the preliminary consolidated balance sheets, consolidated income statements and net debt presented here, because the IASB may make further pronouncements before the final consolidated financial statements as of December 31, 2005 are prepared. Moreover, the EU Commission has yet to endorse individual pronouncements by the IASB that have already been taken into account in the financial information presented below. We would also like to point out that the statements presented here are not a full set of consolidated financial statements under IFRS as defined by IAS 1. In this respect, there are no first-time consolidated financial statements under IFRS within the meaning of IFRS 1. Deutsche Telekom will prepare its first set of consolidated IFRS financial statements as defined by IFRS 1 for the period ended December 31, 2005. IFRS will replace German GAAP in Deutsche Telekom’s external reporting from the first quarter of 2005.

It should also be noted that the figures provided for the business units are preliminary and could be subject to change.

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IFRS and New Structure.

Background to the reporting changes.

•                       DT is required to move to IFRS accounting from 2005 onwards.

•                       Change of group structure following strategic realignment towards three strategic business units rather than four divisions.

•                       Q1 2005 will be the first interim report under IFRS and the new group structure.

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IFRS and New Structure.

Adifferent philosophy behind German GAAP and IFRS.

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IFRS.

Revenue recognition.

•                       Activation fees

Revenue from activation fees is – different to German GAAP – spread over the average duration of customer relationship.

•                       Construction contracts (percentage-of-completion method)

Under German GAAP revenue recognition is not allowed before completion of the contract. IFRS requires revenue recognition according to the stage of completion.

•                       Multiple element arrangements

German GAAP allows revenue recognition with partial delivery. Under certain circumstances IFRS allows revenue recognition only after full delivery.

•                       Leasing of equipment

Certain products on a rented basis are classified under IFRS as leasing. The expected contract revenue is discounted to a net present value and split in financing part and revenue part. The financing part is presented as interest income. The revenue part is presented as revenue.

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IFRS.

Revenue recognition.

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IFRS.

Goodwill and mobile licenses (1).

Goodwill:

•                       No amortization of goodwill under IFRS (similar to US GAAP) (impairment-only approach).

•                       Annual impairment test.

•                       In contrast to US GAAP one-step impairment test.

•                        Same approach to evaluate whether impairment is necessary, but different approach to quantify amount of impairment charge.

•                       Transition from German GAAP to IFRS:

•                        German GAAP goodwill as of 01.01.2003 as base (no retrospective application of IFRS 3).

•                        Impairment test on 01.01.2003 under IFRS (as required by IFRS 1).

•                        No further adjustments of Goodwill as required by IFRS 1 necessary at the date of transition.

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IFRS.

Goodwill and mobile licenses (2).

UMTS Licenses:

•                       German GAAP: amortization starting at date of acquisition.

•                       IFRS (similar to US GAAP): amortization with start of network operation.

•                       Under IFRS no recognition of borrowing costs (similar to German GAAP, different to US GAAP).

Impact UMTS Licenses:

•                       Reversal of amortization charged under German GAAP.

•                       Start of amortization with start of network operation.

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IFRS.

Goodwill and mobile licenses (3).

FCC Licenses (mobile licenses USA):

•                       German GAAP: amortization.

•                       IFRS (similar to US GAAP): “impairment-only approach” due to indefinite useful life.

Impact FCC Licenses:

•                       Reversal of amortization and impairments charged under German GAAP.

•                       Impairment test as of 1.1.2003: Reversal of impairment from strategic review 2002. Instead impairment of goodwill.

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IFRS.

Goodwill and mobile licenses (4).

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IFRS.

Provisions.

Pension provisions:

•                       No additional minimum liability under IFRS.

•                       Different treatment of actuarial gains and losses under IFRS: recognition in shareholders’ equity at the date of transition
(IFRS 1).

•                       Interest costs presented in financial result, not in operating result.

•                       Reduction of shareholders’ equity in the IFRS opening balance sheet and increase in the other reporting dates presented; net profit increases in the two periods presented.

Other provisions:

•                       Recognition of restructuring provisions is subject to stricter criteria under IFRS.

•                       Furthermore, provisions for future internal expenses that have been recognized under German GAAP should not be recognized under IFRS.

•                       Increase of shareholders’ equity; net profit under IFRS remains largely unaffected.

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IFRS.

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IFRS & New Structure

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IFRS.

Internally generated software and borrowing costs.

Software:

•                       Recognizing internally generated software, which is not permissible under German GAAP, increases shareholders’ equity under IFRS in all of the periods presented. In the periods following the recognition, net profit under IFRS remains largely unaffected.

Borrowing costs:

•                       Deutsche Telekom does not make use of the option under IFRS to recognize borrowing costs. Under German GAAP, borrowing costs accounted for during the construction period were recognized. Not recognizing borrowing costs reduces shareholders’ equity under IFRS in all periods. The lower amortization than under German GAAP increases net profit.

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IFRS.

Deferred Taxes.

•                       Differences between IFRS and German GAAP relate in particular to Deutsche Telekom’s “contribution goodwill”, tax loss carryforwards and general recognition and measurement differences between IFRS and German GAAP:

•                        Deferred tax asset: “contribution goodwill” recognized in tax accounts but not recognized under IFRS.

•                        Deferred tax asset: future expected tax reductions from the deduction of tax loss carryforwards.

•                        Deferred tax liabilities: in particular realization of hidden reserves for US mobile licenses; furthermore, net effect of all other temporary differences.

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IFRS.

ABS.

•                       As part of asset-backed securities (ABS) transactions, mostly financial assets are sold to a special-purpose entity (SPE). The SPE refinances itself on the capital market.

•                       Under IFRS, SPEs must generally be consolidated by the economic beneficiary. In total, there are three SPEs arising from ABS transactions that have to be consolidated by Deutsche Telekom. The capital market liabilities recognized by the SPEs increase Deutsche Telekom’s net debt.

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IFRS.

Leasing.

•                       A considerably larger number of leases tends to be classified as finance leases under IFRS. While in an operating lease it is the lessor that recognizes the asset, it is the lessee that recognizes the asset in a finance lease.

•                       Deutsche Telekom has entered into sale and leaseback transactions in connection with its real estate portfolio. Under German GAAP, these transactions were usually treated as a sale of real estate that was subsequently leased back, whereas under IFRS the buildings must be classified as finance leases and the land as operating leases.

•                       Under IFRS, this results in the recognition of interest expense and a depreciation charge for the buildings and the recognition of rental expense for the land; the disposal gain must be spread over the term of the lease.

•                       Under German GAAP, gains or losses from the sale of real estate are recorded, as rental expense.

•                       This reduces shareholders’ equity, net profit and increases net debt under IFRS in all of the periods presented.

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IFRS.

Leasing.

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IFRS.

Measurement of investments not fully consolidated and not accounted for in the consolidated financial statements under the equity method.

•                       Investments not fully consolidated and not accounted for in the consolidated financial statements under the equity method must be measured at fair value according to IAS 39. As a rule, the resulting unrealized gains and losses are recognized directly in equity.

•                       According to German GAAP, these assets are measured at amortized cost or, if appropriate, at the lower fair value. As a result of the different accounting policies used under IFRS and German GAAP, the IFRS shareholders’ equity increases in all of the periods presented. Net profit under IFRS remains unaffected.

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IFRS.

In a nutshell.

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IFRS.

Impact on adj. EBITDA.

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IFRS.

Net income reconciliation 2004 and 2003.

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 IFRS.

Reconciliation of Cash Flow.

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IFRS.

Reconciliation of equity.

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IFRS.

Net debt.

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New structure.

In a nutshell.

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New structure.

The Strategic Business Unit Broadband/Fixed network .

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New structure.

The Strategic Business Unit Mobile.