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Group Development

Development of operations

Development of operations – Group Development

millions of €

 

 

 

 

 

 

 

 

2024

2023

Change

Change
%

2022

Revenue

 

10

115

(106)

(91.8)

1,708

Of which: GD Towers

 

0

99

(99)

(100.0)

1,154

Service revenue

 

0

0

0

n.a.

411

EBITDA

 

(36)

13,220

(13,256)

n.a.

2,106

Special factors affecting EBITDA

 

(5)

13,170

(13,174)

n.a.

992

EBITDA (adjusted for special factors)

 

(32)

50

(82)

n.a.

1,113

Of which: GD Towers

 

0

78

(78)

(100.0)

943

EBITDA AL

 

(36)

13,215

(13,251)

n.a.

1,956

Special factors affecting EBITDA AL

 

(5)

13,170

(13,174)

n.a.

992

EBITDA AL (adjusted for special factors)

 

(32)

45

(77)

n.a.

964

Of which: GD Towers

 

0

73

(73)

(100.0)

804

EBITDA AL margin (adjusted for special factors)

%

n.a.

39.2

 

 

56.4

Depreciation, amortization and impairment losses

 

(3)

(2)

0

(8.5)

(195)

Profit (loss) from operations (EBIT)

 

(39)

13,217

(13,256)

n.a.

1,911

Cash capex

 

(4)

(24)

21

84.4

(343)

Cash capex (before spectrum investment)

 

(4)

(24)

21

84.4

(343)

The sale of the GD Towers business entity was consummated on February 1, 2023. Since that date, GD Towers has no longer been part of the Group. The development of operations for the prior year contains the value contributions up to and including January 2023.

For further information on the presentation of GD Towers in the prior year, please refer to the section “Management of the Group.”

The comparison of the 2024 financial year with the prior year is significantly influenced by the sale of GD Towers. The gain on deconsolidation in the 2023 financial year resulting from the transaction amounted to EUR 12.9 billion and is included in EBITDA and the associated performance indicators.

The goal of our Group Development operating segment is to actively manage entities and equity investments to grow their value. For this reason, entities such as Deutsche Telekom Capital Partners and Comfort Charge are assigned to this segment.