Group Development
The sale of T‑Mobile Netherlands was consummated on March 31, 2022. The company’s contributions are included in the figures for customer development up to March 31, 2022 and in the development of operations for the first quarter of 2022.
For further information on the transaction closing, please refer to the section “Group organization, strategy, and management.”
Customer development
thousands |
|
|
|
|
|
|
|---|---|---|---|---|---|---|
|
|
Mar. 31, 2022 |
Dec. 31, 2021 |
Change |
Mar. 31, 2021 |
Change |
T‑Mobile Netherlands |
Mobile customers |
6,949 |
6,939 |
0.1 |
6,798 |
2.2 |
Fixed-network lines |
754 |
739 |
2.0 |
693 |
8.8 |
|
Broadband customers |
744 |
728 |
2.2 |
680 |
9.4 |
In the Netherlands, the number of mobile customers increased slightly. The number of fixed-network lines in the Netherlands contributed to the positive development of operational business and continued to profit from the relaxation of coronavirus-related measures, as well as from successful advertising.
Development of operations
millions of € |
|
|
|
|
|
|
||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
Q1 2022 |
Q1 2021 |
Change |
Change % |
FY 2021 |
||||
Total revenue |
|
825 |
782 |
43 |
5.5 |
3,165 |
||||
Of which: T‑Mobile Netherlands |
|
536 |
513 |
23 |
4.5 |
2,071 |
||||
Of which: GD Towersa |
|
284 |
282 |
2 |
0.7 |
1,112 |
||||
Service revenue |
|
411 |
390 |
21 |
5.4 |
1,621 |
||||
Profit (loss) from operations (EBIT) |
|
1,194 |
166 |
1,028 |
n.a. |
1,084 |
||||
Depreciation, amortization and impairment losses |
|
(97) |
(210) |
113 |
53.8 |
(706) |
||||
EBITDA |
|
1,291 |
376 |
915 |
n.a. |
1,790 |
||||
Special factors affecting EBITDA |
|
869 |
(16) |
885 |
n.a. |
173 |
||||
EBITDA (adjusted for special factors) |
|
422 |
392 |
30 |
7.7 |
1,618 |
||||
Of which: T‑Mobile Netherlands |
|
201 |
171 |
30 |
17.5 |
757 |
||||
Of which: GD Towersa |
|
229 |
224 |
5 |
2.2 |
894 |
||||
EBITDA AL |
|
1,224 |
301 |
923 |
n.a. |
1,479 |
||||
Special factors affecting EBITDA AL |
|
869 |
(16) |
885 |
n.a. |
173 |
||||
EBITDA AL (adjusted for special factors) |
|
356 |
316 |
40 |
12.7 |
1,307 |
||||
Of which: T‑Mobile Netherlands |
|
190 |
151 |
39 |
25.8 |
668 |
||||
Of which: GD Towersa |
|
173 |
169 |
4 |
2.4 |
669 |
||||
EBITDA AL margin (adjusted for special factors) |
% |
43.2 |
40.4 |
|
|
41.3 |
||||
Cash capex |
|
(99) |
(115) |
16 |
13.9 |
(572) |
||||
|
||||||||||
Total revenue, service revenue
Total revenue in our Group Development operating segment increased in the first quarter of 2022 by 5.5 % year-on-year to EUR 825 million. In organic terms, revenue changed in the prior-year period due to the sale of the Dutch cell tower business as of June 1, 2021 and increased 5.6 % year-on-year. This revenue increase resulted from the operational and structural growth of our two business units T‑Mobile Netherlands and GD Towers, which includes DFMG and the Austrian cell tower business. In the Netherlands, both mobile and fixed-network business contributed to the increase in revenue thanks to rising customer numbers. GD Towers also recorded an increase in revenue, driven by growth in the number of cell sites at DFMG and the Austrian cell tower business. Service revenue rose by 5.4 % year-on-year to EUR 411 million, thanks primarily to the operational growth of the T‑Mobile Netherlands business unit.
Adjusted EBITDA AL, EBITDA AL
Adjusted EBITDA AL increased by 12.7 % to EUR 356 million. This growth was attributable to the aforementioned positive revenue trend and efficient cost management at T‑Mobile Netherlands. The GD Towers business posted consistent growth on the back of rising volumes and was further strengthened by the Austrian cell tower business. An operational increase in adjusted EBITDA AL was also achieved through revenue growth and cost transformation. In organic terms, adjusted EBITDA AL grew by 19.2 %. EBITDA AL was positively influenced by net special factors of EUR 869 million, which mainly related to the gain on deconsolidation due to the sale of the T‑Mobile Netherlands business unit. EBITDA AL increased by EUR 923 million compared with the prior-year period to EUR 1.2 billion.
EBIT
EBIT increased by EUR 1.0 billion year-on-year to EUR 1.2 billion, mainly as a result of the development described under EBITDA AL. Depreciation, amortization and impairment losses were down year-on-year, primarily due to lower depreciation and amortization in connection with the fact that T‑Mobile Netherlands has been held for sale since September 6, 2021, and, accordingly, the related depreciation and amortization has been suspended.
Cash capex
Cash capex stood at EUR 99 million and thus below the prior-year level. The decline is attributable to the lower planned build-out investments compared with the prior-year period, which are set to rise substantially in subsequent quarters. We continue to focus our investments on the accelerated 5G build-out and the build-out of mobile infrastructure in Germany.