33 Profit/loss after taxes from discontinued operation
The sale of the GD tower companies was consummated on February 1, 2023. Since then, these companies are no longer included as fully consolidated subsidiaries in the consolidated financial statements. The development presented contains the contributions for the first month of 2023.
The following table provides a breakdown of profit/loss after taxes from the discontinued operation:
millions of € |
|
|
|
|---|---|---|---|
|
2023 |
2022 |
2021 |
Net revenue |
15 |
216 |
201 |
Other operating income |
12,926 |
20 |
(1) |
Changes in inventories |
0 |
9 |
1 |
Own capitalized costs |
0 |
25 |
27 |
Goods and services purchased |
69 |
756 |
718 |
Personnel costs |
(6) |
(75) |
(69) |
Other operating expenses |
0 |
(14) |
(10) |
EBITDA |
13,004 |
937 |
868 |
Depreciation, amortization and impairment losses |
0 |
(192) |
(391) |
Profit (loss) from operations (EBIT) |
13,004 |
745 |
477 |
Finance costs |
(14) |
(42) |
(185) |
Share of profit (loss) of associates and joint ventures accounted for using the equity method |
0 |
2 |
0 |
Other financial income (expense) |
(2) |
21 |
(2) |
Profit (loss) from financial activities |
(16) |
(18) |
(186) |
Profit before income taxes |
12,989 |
727 |
290 |
Income taxes |
708 |
(284) |
(83) |
Profit (loss) after taxes from discontinued operation |
13,696 |
443 |
207 |
Value contributions by GD tower companies are presented separately in the income statement of the discontinued operation. Since Deutsche Telekom largely continues to use the sold passive network infrastructure after consummation of the transaction effective February 1, 2023, the intragroup eliminations of income and expenses between discontinued and continuing operations are disclosed at the level of the discontinued operation. So, for example, goods and services purchased include eliminations of intragroup onward charging of purchased services of GD tower companies mainly to Telekom Deutschland GmbH. In this way, the net effect is that internal cost allocations are no longer included in Deutsche Telekom’s consolidated financial statements. Due to continuing contractual relationships, the corresponding expenses for purchased services are also incurred after the sale of the GD tower companies.
Other operating income of EUR 12.9 billion relates to the deconsolidation gain realized from the loss of control over the GD tower companies. Income from income taxes resulted from deferred tax effects arising in connection with the concluded sale-and-leaseback transaction.
For further information on the sale of the GD tower companies, please refer to the section “Changes in the composition of the Group and other transactions.”