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

Assigned to segment

Telekom Deutschland GmbH, Bonn, Germany

Dec. 31, 2021/2021

100.00

22,037

4,852

7,762

3,816

Germany

Dec. 31, 2020/2020

100.00

22,215

4,604

7,290

3,836

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

Dec. 31, 2021/2021

46.75

68,359

7,217

67,259

70,793

United States

Dec. 31, 2020/2020

43.37

61,208

9,187

59,084

65,015

T‑Systems International GmbH, Frankfurt/Main, Germany

Dec. 31, 2021/2021

100.00

2,248

(365)

716

6,661

Systems Solutions

Dec. 31, 2020/2020

100.00

2,462

(573)

575

8,042

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

Dec. 31, 2021/2021

48.29

3,775

865

2,652

13,736

Europe

Dec. 31, 2020/2020

46.91

3,878

448

2,826

16,441

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

Dec. 31, 2021/2021

59.21

1,952

259

2,243

6,933

Europe

Dec. 31, 2020/2020

59.21

1,914

240

2,177

7,349

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

Dec. 31, 2021/2021

75.00

2,071

414

2,328

1,863

Group
Development

Dec. 31, 2020/2020

75.00

1,946

178

2,030

1,832

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

Dec. 31, 2021/2021

100.00

1,427

1,940

3,895

Europe

Dec. 31, 2020/2020

100.00

1,453

2,111

4,117

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

Dec. 31, 2021/2021

100.00

1,146

317

2,040

3,229

Europe

Dec. 31, 2020/2020

100.00

1,072

246

1,885

3,272

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

Dec. 31, 2021/2021

52.17

982

106

2,179

4,668

Europe

Dec. 31, 2020/2020

51.71

989

2,199

4,957

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

Dec. 31, 2021/2021

100.00

1,351

3,168

1,876

Europe

Dec. 31, 2020/2020

100.00

1,302

4,776

2,016

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

Dec. 31, 2021/2021

100.00

790

161

1,548

3,211

Europe

Dec. 31, 2020/2020

100.00

773

139

1,523

3,336

^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). 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, 2021/2021

53.25

47.98

35,640

Dec. 31, 2020/2020

56.63

47.67

33,306

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

Dec. 31, 2021/2021

51.71

50.00

1,129

219

Dec. 31, 2020/2020

53.09

50.00

1,317

135

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

Dec. 31, 2021/2021

40.79

605

Dec. 31, 2020/2020

40.79

600

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

Dec. 31, 2021/2021

25.00

582

Dec. 31, 2020/2020

25.00

507

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

Dec. 31, 2021/2021

47.83

831

Dec. 31, 2020/2020

48.29

854

^a	IFRS figures at the level of the consolidated financial statements of Deutsche Telekom.
^b	Consolidated subgroup.
^c	Indirect shareholding of Deutsche Telekom AG.

Deutsche Telekom held 46.75 % 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 52.0 % as of December 31, 2021.

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

Deutsche Telekom held 48.29 % 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, 2021/2021

21,532

175,248

21,671

107,851

2,508

7,714

Dec. 31, 2020/2020

21,983

154,782

18,849

98,832

4,160

(2,510)

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

Dec. 31, 2021/2021

1,434

4,619

1,984

1,417

603

615

Dec. 31, 2020/2020

1,787

4,917

2,093

1,785

343

327

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

Dec. 31, 2021/2021

691

3,482

800

1,129

174

149

Dec. 31, 2020/2020

775

3,315

873

1,041

129

(56)

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

Dec. 31, 2021/2021

709

1,779

208

101

Dec. 31, 2020/2020

703

1,849

244

109

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

Dec. 31, 2021/2021

749

4,118

746

1,905

186

193

Dec. 31, 2020/2020

704

3,769

852

1,591

157

^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}

2021

19,663

(19,816)

(3,042)

2020

13,501

(14,001)

8,469

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

2021

1,204

(320)

(842)

2020

1,214

(565)

(1,114)

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

2021

548

(288)

(345)

2020

525

(422)

(61)

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

2021

381

(207)

(191)

2020

334

(98)

(204)

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

2021

664

(273)

(337)

2020

609

(737)

148

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

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