Systems Solutions
Order entry
millions of € |
|
|
|
|
|---|---|---|---|---|
|
Q1 2024 |
FY 2023 |
Q1 2023 |
Change |
Order entry |
823 |
3,628 |
754 |
9.2 |
Development of business
The first quarter of 2024 continued to be dominated by the focusing of our systems solutions business on growth and future viability.
Order entry in our Systems Solutions operating segment was up by 9.2 % year-on-year in the first quarter of 2024. This development is attributable to increased order entry in the Digital portfolio area.
Development of operations
millions of € |
|
|
|
|
|
|
|---|---|---|---|---|---|---|
|
|
Q1 2024 |
Q1 2023 |
Change |
Change % |
FY 2023 |
Revenue |
|
993 |
946 |
47 |
5.0 |
3,896 |
Of which: external revenue |
|
843 |
792 |
51 |
6.4 |
3,258 |
Service revenue |
|
973 |
921 |
52 |
5.6 |
3,796 |
EBITDA |
|
77 |
72 |
5 |
6.9 |
272 |
Special factors affecting EBITDA |
|
(23) |
(26) |
3 |
11.5 |
(144) |
EBITDA (adjusted for special factors) |
|
100 |
99 |
1 |
1.0 |
416 |
EBITDA AL |
|
54 |
49 |
5 |
10.2 |
177 |
Special factors affecting EBITDA AL |
|
(23) |
(26) |
3 |
11.5 |
(144) |
EBITDA AL (adjusted for special factors) |
|
77 |
75 |
2 |
2.7 |
321 |
EBITDA AL margin (adjusted for special factors) |
% |
7.8 |
7.9 |
|
|
8.2 |
Depreciation, amortization and impairment losses |
|
(59) |
(61) |
2 |
3.3 |
(344) |
Profit (loss) from operations (EBIT) |
|
18 |
11 |
7 |
63.6 |
(71) |
Special factors affecting EBIT |
|
(30) |
(35) |
5 |
14.3 |
(270) |
EBIT (adjusted for special factors) |
|
48 |
46 |
2 |
4.3 |
198 |
EBIT margin (adjusted for special factors) |
% |
4.8 |
4.9 |
|
|
5.1 |
Cash capex |
|
(63) |
(60) |
(3) |
(5.0) |
(210) |
Cash capex (before spectrum investment) |
|
(63) |
(60) |
(3) |
(5.0) |
(210) |
Revenue, service revenue
Revenue in our Systems Solutions operating segment in the first quarter of 2024 amounted to EUR 1.0 billion, up 5.0 % year-on-year, mainly due to growth in the Cloud (+9.1 %) and Road Charging (+7.2 %) portfolio areas. External revenue increased by 6.4 %, also driven by the Cloud and Road Charging portfolio areas. Service revenue also developed positively, increasing by 5.6 %.
Adjusted EBITDA AL, EBITDA AL
In the first quarter of 2024, adjusted EBITDA AL at our Systems Solutions operating segment increased by 2.7 % year-on-year to EUR 77 million. The increase in adjusted EBITDA AL is primarily attributable to revenue growth in the Cloud area. EBITDA AL increased by EUR 5 million compared with the prior-year period to EUR 54 million. The expense arising from special factors decreased by EUR 3 million year-on-year to EUR 23 million, mainly as a result of lower restructuring costs.
Profit/loss from operations (EBIT), adjusted EBIT
Adjusted EBIT in our Systems Solutions operating segment improved by EUR 2 million year-on-year in the first quarter of 2024, coming in at EUR 48 million, due to the reasons described under adjusted EBITDA AL and as a result of declines in depreciation and amortization. EBIT increased by EUR 7 million year-on-year to EUR 18 million. The expense arising from special factors was EUR 30 million, a decrease of EUR 5 million year-on-year.
Cash capex (before spectrum investment), cash capex
Cash capex in the Systems Solutions operating segment stood at EUR 63 million in the first quarter of 2024, up EUR 3 million against the prior-year period. This trend mainly resulted from higher capital expenditure in the Cloud portfolio area.