Group Headquarters & Group Services
Development of operations
millions of € |
|
|
|
|
|
|---|---|---|---|---|---|
|
Q1 2021 |
Q1 2020 |
Change |
Change % |
FY 2020 |
Total revenue |
625 |
634 |
(9) |
(1.4) |
2,556 |
Profit (loss) from operations (EBIT) |
(357) |
(365) |
8 |
2.2 |
(1,655) |
Depreciation, amortization and impairment losses |
(330) |
(295) |
(35) |
(11.9) |
(1,304) |
EBITDA |
(27) |
(69) |
42 |
60.9 |
(350) |
Special factors affecting EBITDA |
(26) |
(58) |
32 |
55.2 |
(277) |
EBITDA (adjusted for special factors) |
(2) |
(11) |
9 |
81.8 |
(73) |
EBITDA AL |
(110) |
(161) |
51 |
31.7 |
(707) |
Special factors affecting EBITDA AL |
(26) |
(58) |
32 |
55.2 |
(277) |
EBITDA AL (adjusted for special factors) |
(84) |
(103) |
19 |
18.4 |
(429) |
Cash capex |
(250) |
(230) |
(20) |
(8.7) |
(990) |
Total revenue
Total revenue in our Group Headquarters & Group Services segment in the first quarter of 2021 decreased by 1.4 % year-on-year, mainly as a result of lower revenue from land and buildings due to the ongoing optimization of space.
Adjusted EBITDA AL, EBITDA AL
Adjusted EBITDA AL in the Group Headquarters & Group Services segment improved by EUR 19 million year-on-year in the reporting period to EUR ‑84 million. This development was primarily due to lower operating expenses at our Group Services. By contrast, lower income from real estate sales and lower revenue from land and buildings had a negative impact on adjusted EBITDA AL.
Overall, EBITDA AL was negatively impacted in the reporting period by special factors amounting to EUR 26 million, especially for staff-related measures. This contrasts with special factors of EUR 58 million in the prior-year period, also in particular for staff-related measures.
EBIT
The slight year-on-year improvement in EBIT of EUR 8 million to EUR ‑357 million was largely a result of two contrasting effects: the positive development of EBITDA AL on the one hand, and the increase in depreciation, amortization and impairment losses on the other. The latter is mainly attributable to the increased volume of output in connection with the introduction of agile processes and shorter project runtimes at Deutsche Telekom IT. An impairment loss was also recognized in the first quarter of 2021 in the amount of EUR 14 million on software used by the Systems Solutions operating segment. This impairment loss was a consequence of the ad hoc impairment testing carried out in the Systems Solutions cash-generating unit in the third quarter of the prior year. 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
Cash capex increased by EUR 20 million year-on-year, primarily owing to increased investment in technology and innovation, mainly for development activities, as well as increased cash capex for vehicles.