Group Headquarters & Group Services
Development of operations
millions of € |
|
|
|
|
|
|---|---|---|---|---|---|
|
Q1 2024 |
Q1 2023 |
Change |
Change % |
FY 2023 |
Revenue |
546 |
578 |
(32) |
(5.5) |
2,305 |
Service revenue |
236 |
242 |
(6) |
(2.5) |
1,024 |
EBITDA |
(138) |
(146) |
8 |
5.5 |
(522) |
Special factors affecting EBITDA |
(37) |
(42) |
5 |
11.9 |
(199) |
EBITDA (adjusted for special factors) |
(101) |
(104) |
3 |
2.9 |
(323) |
EBITDA AL |
(205) |
(218) |
13 |
6.0 |
(808) |
Special factors affecting EBITDA AL |
(37) |
(42) |
5 |
11.9 |
(199) |
EBITDA AL (adjusted for special factors) |
(168) |
(176) |
8 |
4.5 |
(609) |
Depreciation, amortization and impairment losses |
(301) |
(354) |
53 |
15.0 |
(1,352) |
Profit (loss) from operations (EBIT) |
(439) |
(499) |
60 |
12.0 |
(1,874) |
Cash capex |
(199) |
(259) |
60 |
23.2 |
(969) |
Cash capex (before spectrum investment) |
(199) |
(259) |
60 |
23.2 |
(969) |
Revenue, service revenue
Revenue in our Group Headquarters & Group Services segment decreased in the reporting period by 5.5 %, mainly as a result of lower intragroup revenue from land and buildings due to the ongoing optimization of space. Service revenue was slightly below the prior-year level.
Adjusted EBITDA AL, EBITDA AL
Adjusted EBITDA AL in the Group Headquarters & Group Services segment improved by EUR 8 million in the reporting period to EUR ‑168 million. This development was mainly attributable to lower operating expenses at our Group Services, which were partially offset by lower revenues from land and buildings due to the ongoing optimization of space.
Profit/loss from operations (EBIT)
EBIT improved by EUR 60 million year-on-year to EUR ‑439 million, mainly on the back of lower depreciation, amortization and impairment losses, largely due to lower capitalization in connection with declines in the licensing of the Group-wide ERP system. The improvement in EBITDA AL also had a positive effect.
Cash capex (before spectrum investment), cash capex
Cash capex decreased by EUR 60 million year-on-year, primarily due to lower capital expenditure in the Technology and Innovation Board of Management department on account of fewer commissions of IT projects.