Principal subsidiaries

The Group’s principal subsidiaries are presented in the following table:

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Name and registered office

Deutsche Telekom share
%

Net revenue^a millions of €

Profit (loss) from operations^a millions of €

Shareholders’ equity^a millions of €

Average number of employees

Segment allocation

Telekom Deutschland GmbH, Bonn, Germany

Dec. 31, 2020/2020

100.00

22,215

4,604

7,290

3,836

Germany

Dec. 31, 2019/2019

100.00

21,617

4,736

6,723

3,573

T‑Mobile US, Inc., Bellevue, Washington, United States^{b, c}

Dec. 31, 2020/2020

43.37

61,208

9,187

59,084

65,015

United States

Dec. 31, 2019/2019

62.85

40,420

5,488

30,327

46,544

T‑Systems International GmbH, Frankfurt/Main, Germany

Dec. 31, 2020/2020

100.00

2,462

(573)

575

8,179

Systems Solutions

Dec. 31, 2019/2019

100.00

5,048

(362)

935

12,149

Hellenic Telecommunications Organization S.A. (OTE), Athens, Greece^b

Dec. 31, 2020/2020

46.91

3,878

448

2,826

16,441

Europe

Dec. 31, 2019/2019

45.96

3,927

241

2,902

18,033

Magyar Telekom Telecommunications Public Limited Company, Budapest, Hungary^{b, c}

Dec. 31, 2020/2020

60.49

1,914

240

2,177

7,349

Europe

Dec. 31, 2019/2019

59.72

2,049

257

2,316

8,468

T‑Mobile Netherlands Holding B.V., The Hague, Netherlands^{b, c}

Dec. 31, 2020/2020

75.00

1,946

178

2,030

1,832

Group
Development

Dec. 31, 2019/2019

75.00

1,910

1,872

1,892

T‑Mobile Polska S.A., Warsaw, Poland^{b, c}

Dec. 31, 2020/2020

100.00

1,453

2,111

4,117

Europe

Dec. 31, 2019/2019

100.00

1,486

1,505

4,569

T‑Mobile Czech Republic a.s., Prague, Czech Republic^{b, c}

Dec. 31, 2020/2020

100.00

1,072

246

1,885

3,272

Europe

Dec. 31, 2019/2019

100.00

1,088

289

1,956

3,369

Hrvatski Telekom d.d., Zagreb, Croatia^{b, c}

Dec. 31, 2020/2020

51.71

989

2,199

4,957

Europe

Dec. 31, 2019/2019

51.42

1,039

137

2,276

5,511

T‑Mobile Austria Holding GmbH, Vienna, Austria^{b, c}

Dec. 31, 2020/2020

98.97

1,302

4,776

2,016

Europe

Dec. 31, 2019/2019

100.00

1,276

3,488

2,120

Slovak Telekom a.s., Bratislava, Slovakia^{b, c}

Dec. 31, 2020/2020

100.00

773

139

1,523

3,336

Europe

Dec. 31, 2019/2019

100.00

785

161

1,543

3,482

^a	IFRS figures of the respective subgroup.
^b	Consolidated subgroup.
^c	Indirect shareholding of Deutsche Telekom AG.
In accordance with § 313 HGB, the full statement of investment holdings, which forms part of the notes to the consolidated financial statements, is published in the Federal Gazette (Bundesanzeiger) together with the consolidated financial statements. It is available upon request from Deutsche Telekom AG, Bonn, Investor Relations, and on Deutsche Telekom’s website (www.telekom.com) under Investor Relations. Furthermore, the statement of investment holdings includes a full list of all subsidiaries that exercise simplification options in accordance with § 264 (3) HGB or disclosure simplification options in accordance with § 264b HGB.

The following table shows the non-controlling interests for principal subsidiaries:

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Name and registered office

Percentage of shareholding for non-controlling interests
%

Percentage of voting rights for non-controlling interests
%

Cumulative non-controlling interests^a
millions of €

Dividends paid out to non-controlling interests
millions of €

T‑Mobile US, Inc., Bellevue, Washington, United States^{b, c}

Dec. 31, 2020/2020

56.63

47.67

33,306

Dec. 31, 2019/2019

37.15

11,024

Hellenic Telecommunications Organization S.A. (OTE), Athens, Greece^b

Dec. 31, 2020/2020

53.09

50.00

1,317

135

Dec. 31, 2019/2019

54.04

50.00

1,378

134

Magyar Telekom Telecommunications Public Limited Company, Budapest, Hungary^{b, c}

Dec. 31, 2020/2020

39.51

600

Dec. 31, 2019/2019

40.28

701

Hrvatski Telekom d.d., Zagreb, Croatia^{b, c}

Dec. 31, 2020/2020

48.29

854

Dec. 31, 2019/2019

48.58

898

T‑Mobile Netherlands Holding B.V., The Hague, Netherlands^{b, c}

Dec. 31, 2020/2020

25.00

507

Dec. 31, 2019/2019

25.00

468

^a	IFRS figures of the respective subgroup.
^b	Consolidated subgroup.
^c	Indirect shareholding of Deutsche Telekom AG.

Deutsche Telekom held 43.37 % of the shares in T‑Mobile US as of the reporting date. Due to a proxy agreement concluded with SoftBank and the fact that persons nominated by Deutsche Telekom hold a majority on the Board of Directors of the new company, T‑Mobile US is being included in the consolidated financial statements of Deutsche Telekom as a fully consolidated subsidiary. The proportion of T‑Mobile US shares for which Deutsche Telekom can exercise voting rights totaled around 52.3 % as of December 31, 2020.

For further information, please refer to the section “Changes in the composition of the Group and other transactions.”

Deutsche Telekom held 46.91 % plus one vote of the shares in the OTE group as of the reporting date. In accordance with shareholder agreements between Deutsche Telekom and the Hellenic Republic, Deutsche Telekom controls 50 % plus two voting shares and therefore the OTE group’s financial and operating policy. Consequently, the OTE group companies are fully consolidated subsidiaries.

Summarized financial information for subsidiaries with significant non-controlling interests:

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millions of €

Name and registered office

Current assets^a

Non-current assets^a

Current liabilities^a

Non-current liabilities^a

Profit (loss)^a

Total comprehensive income^a

T‑Mobile US, Inc., Bellevue, Washington, United States^{b, c}

Dec. 31, 2020/2020

21,983

154,782

18,849

98,832

4,160

(2,510)

Dec. 31, 2019/2019

10,460

73,954

19,123

34,963

3,593

3,602

Hellenic Telecommunications Organization S.A. (OTE), Athens, Greece^b

Dec. 31, 2020/2020

1,787

4,917

2,093

1,785

343

327

Dec. 31, 2019/2019

2,006

5,205

2,432

1,877

Magyar Telekom Telecommunications Public Limited Company, Budapest, Hungary^{b, c}

Dec. 31, 2020/2020

775

3,315

873

1,041

129

(56)

Dec. 31, 2019/2019

781

3,352

912

906

139

Hrvatski Telekom d.d., Zagreb, Croatia^{b, c}

Dec. 31, 2020/2020

703

1,849

244

109

Dec. 31, 2019/2019

817

1,906

333

114

101

T‑Mobile Netherlands Holding B.V., The Hague, Netherlands^{b, c}

Dec. 31, 2020/2020

704

3,769

852

1,591

157

Dec. 31, 2019/2019

754

3,186

643

1,425

^a	IFRS figures of the respective subgroup.
^b	Consolidated subgroup.
^c	Indirect shareholding of Deutsche Telekom AG.

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millions of €

Name and registered office

Net cash from operating activities^a

Net cash (used in) from investing activities^a

Net cash (used in) from financing activities^a

T‑Mobile US, Inc., Bellevue, Washington, United States^{b, c}

2020

13,501

(14,001)

8,469

2019

11,438

(6,997)

(4,135)

Hellenic Telecommunications Organization S.A. (OTE), Athens, Greece^b

2020

1,214

(565)

(1,114)

2019

1,121

(446)

(707)

Magyar Telekom Telecommunications Public Limited Company, Budapest, Hungary^{b, c}

2020

525

(422)

(61)

2019

492

(257)

(226)

Hrvatski Telekom d.d., Zagreb, Croatia^{b, c}

2020

334

(98)

(204)

2019

348

(181)

(219)

T‑Mobile Netherlands Holding B.V., The Hague, Netherlands^{b, c}

2020

609

(737)

148

2019

484

(488)

(142)

^a	IFRS figures of the respective subgroup.
^b	Consolidated subgroup.
^c	Indirect shareholding of Deutsche Telekom AG.

Principal subsidiaries

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