Group Headquarters & Group Services
Development of operations
millions of € |
|
|
|
|
|
|---|---|---|---|---|---|
|
2022 |
2021 |
Change |
Change |
2020 |
Net revenue |
2,407 |
2,515 |
(108) |
(4.3) |
2,556 |
Service revenue |
967 |
984 |
(17) |
(1.7) |
970 |
EBITDA |
(361) |
(300) |
(61) |
(20.3) |
(350) |
Special factors affecting EBITDA |
(234) |
(182) |
(52) |
(28.6) |
(277) |
EBITDA (adjusted for special factors) |
(128) |
(118) |
(10) |
(8.5) |
(73) |
EBITDA AL |
(672) |
(622) |
(50) |
(8.0) |
(707) |
Special factors affecting EBITDA AL |
(234) |
(182) |
(52) |
(28.6) |
(277) |
EBITDA AL (adjusted for special factors) |
(437) |
(440) |
3 |
0.7 |
(429) |
Depreciation, amortization and impairment losses |
(1,476) |
(1,463) |
(13) |
(0.9) |
(1,304) |
Profit (loss) from operations (EBIT) |
(1,837) |
(1,764) |
(73) |
(4.1) |
(1,655) |
Cash capex |
(973) |
(1,007) |
34 |
3.4 |
(990) |
Cash capex (before spectrum investment) |
(973) |
(1,007) |
34 |
3.4 |
(990) |
Net revenue, service revenue
Revenue in our Group Headquarters & Group Services segment decreased in the reporting year by 4.3 %, mainly as a result of lower intragroup revenues from land and buildings due to the ongoing optimized use of space as well as to lower intragroup service revenues at Deutsche Telekom IT from the licensing of the One.ERP system. The relocation of units previously assigned to the Germany operating segment in connection with the bundling of financial functions had an offsetting effect. Against this background, organic revenue decreased by 6.2 % compared with the prior year.
Adjusted EBITDA AL, EBITDA AL
Adjusted EBITDA AL at our Group Headquarters & Group Services segment amounted to EUR ‑437 million in the reporting year, which was up slightly against the prior-year level. The fall in revenues and increase in operating expenses relating to land and buildings as well as the decline in revenue from Deutsche Telekom IT were offset by income from the disposal of non-current assets in connection with the further optimization of our real estate portfolio.
Overall, negative net special factors of EUR 234 million affected EBITDA AL in the reporting period. Expenses for staff-related and non-staff-related restructuring measures were offset by the positive effect from the reduction in other provisions. This was due in particular to a measurement effect in connection with the obligation to make additional capital contributions for defined benefit obligations vis-à-vis former employees as a result of the increase in interest rates, and from the termination of legal proceedings. In the prior-year period, EBITDA AL had been negatively impacted by special factors amounting to EUR 182 million, especially for staff-related measures. Against this background, EBITDA AL decreased by EUR 50 million to EUR -672 million.
Profit/loss from operations (EBIT)
EBIT declined by EUR 73 million compared with the prior year to EUR ‑1,837 million, driven mainly by the higher negative special factors and the increase in depreciation, amortization and impairment losses, mainly due to shorter project runtimes at Deutsche Telekom IT and higher impairment losses on software used by the Systems Solutions operating segment. By contrast, depreciation, amortization and impairment losses from land and buildings decreased as a result of our continued optimization of the real estate portfolio.
Cash capex (before spectrum investment), cash capex
Cash capex decreased year-on-year by EUR 34 million, mainly due to lower investments at Group Headquarters and lower cash capex for vehicles. Higher investments in the Technology and Innovation unit had an offsetting effect.