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To our shareholders Deutsche Telekom at a glance
To our shareholders Letter from the Chair of the Board of Management
To our shareholders Supervisory Board’s report
To our shareholders Members of the Board of Management of Deutsche Telekom AG in 2024
To our shareholders Members of the Supervisory Board of Deutsche Telekom AG in 2024
To our shareholders The T-Share
To our shareholders Development of selected financial data
To our shareholders Highlights
Group organization Segment structure
Group strategy Leading Digital Telco
Group strategy Finance strategy
Management of the Group Performance management system
The economic environment Macroeconomic development
The economic environment Telecommunications market
The economic environment Major regulatory decisions
Development of business in the Group Statement of the Board of Management on business development
Development of business in the Group Comparison of the Group’s expectations with actual figures
Development of business in the Group Results of operations of the Group
Development of business in the Group Net assets of the Group
Development of business in the Group Profitability and financial position of the Group
Management report Development of business in the operating segments
Development of business in the operating segments Germany
Development of business in the operating segments United States
Development of business in the operating segments Europe
Development of business in the operating segments Systems Solutions
Development of business in the operating segments Group Development
Development of business in the operating segments Group Headquarters & Group Services
Forecast Statement by the Board of Management on the expected development of the Group
Forecast Economic outlook
Forecast Expectations for the Group
Forecast Expectations for the operating segments
Risk and opportunity management Board of Management’s assessment of the aggregate risk and opportunity position
Risk and opportunity management Risk and opportunity management system
Risk and opportunity management Risks and opportunities
Governance and other disclosures Governance
Governance and other disclosures Integrated control and monitoring system
Governance and other disclosures Corporate Governance Statement and Declaration of Conformity
Governance and other disclosures Legal structure of the Group
General information ESRS 2 – General disclosures
Environment Disclosures pursuant to Article 8 of Regulation 2020/852
Environment ESRS E1 – Climate change
Environment ESRS E5 – Resource use and circular economy
Social ESRS S1 – Own workforce
Social ESRS S2 – Workers in the value chain
Social ESRS S4 – Consumers and end-users
Governance ESRS G1 – Business conduct
Sustainability statement ESRS-Index
Financial statements Statement of changes in equity
Summary of accounting policies Other transactions that had no effect on the composition of the Group
Summary of accounting policies Development of the overall economic environment
Notes to the income statement 23 Own capitalized costs
Notes to the income statement 35 Dividend per share
Other disclosures 38 Segment reporting
Other disclosures 43 Financial instruments and risk management
Other disclosures 45 Related-party disclosures
Other disclosures 46 Remuneration of the Board of Management and the Supervisory Board
Other disclosures 47 Share-based payment
Other disclosures 48 Declaration of conformity with the German Corporate Governance Code
Other disclosures 49 Events after the reporting period

30 Share of profit/loss of associates and joint ventures accounted for using the equity method

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Share of profit/loss of associates and joint ventures accounted for using the equity method
millions of €
	2024	2023	2022
Share of profit (loss) of joint ventures	2,561	(2,778)	(540)
Share of profit (loss) of associates	(27)	12	15
	2,534	(2,766)	(524)

The share of profit/loss of associates and joint ventures included in the consolidated financial statements using the equity method improved by EUR 5.3 billion compared with the prior year to EUR 2.5 billion.

This was primarily attributable to reversals of impairment losses recognized in the reporting period of EUR 2.1 billion and EUR 0.3 billion, respectively, on the carrying amounts of the investments in the GD tower companies and in GlasfaserPlus. These reversals of impairment losses were, at the GD tower companies, due to lower discount rates and improved planning, and at GlasfaserPlus, almost entirely due to lower discount rates. Level 3 input parameters were used to determine the pro rata recoverable amounts – as fair value less costs of disposal – of EUR 5.7 billion for the GD tower companies and of EUR 0.7 billion for GlasfaserPlus (after deduction of net debt). Discount rates of 6.38 % for the GD tower companies and 5.14 % for GlasfaserPlus were used.

In the prior year, impairment losses of EUR 2.6 billion and EUR 0.1 billion, respectively, were recognized on the carrying amounts of the investments in the GD tower companies and in GlasfaserPlus. These impairment losses were due entirely to higher discount rates due to macroeconomic developments in 2023. By contrast, the business outlook for the GD tower companies improved slightly. The recoverable amounts were EUR 3.4 billion for the GD tower companies and EUR 0.3 billion for GlasfaserPlus. Discount rates of 7.18 % for the GD tower companies and 5.70 % for GlasfaserPlus were used.

For further information, please refer to Note 10 “Investments accounted for using the equity method.”