Logo

Topic filter

Show results

Results

  • No filters selected
  • No results

Group Development

The sale of T‑Mobile Netherlands was consummated on March 31, 2022. As such, T‑Mobile Netherlands has not been part of the Group since April 1, 2022. The contributions for the first quarter are still included in operational development due to the cumulative view.

For further information on the transaction closing, please refer to the section “Group organization, strategy, and management.”

Customer development

thousands

 

 

 

 

 

 

 

 

 

 

June 30, 2022

Mar. 31, 2022

Change
June 30, 2022/
Mar. 31, 2022 
%

Dec. 31, 2021

Change
June 30, 2022/
Dec. 31, 2021 
%

June 30, 2021

Change
June 30, 2022/
June 30, 2021 
%

T‑Mobile Netherlands

Mobile customers

0

6,949

(100.0)

6,939

(100.0)

6,853

(100.0)

Fixed-network lines

0

754

(100.0)

739

(100.0)

707

(100.0)

Broadband customers

0

744

(100.0)

728

(100.0)

695

(100.0)

Development of operations

millions of €

 

 

 

 

 

 

 

 

 

 

 

H1 2022

H1 2021

Change
%

Q1 2022

Q2 2022

Q2 2021

Change
%

FY 2021

Total revenue

 

1,115

1,563

(28.7)

825

291

780

(62.7)

3,165

Of which: T‑Mobile Netherlands

 

536

1,019

(47.4)

536

0

506

(100.0)

2,071

Of which: GD Towersa

 

570

565

0.9

284

285

283

0.7

1,112

Service revenue

 

411

789

(47.9)

411

0

399

(100.0)

1,621

Profit (loss) from operations (EBIT)

 

1,357

547

n.a.

1,194

162

381

(57.5)

1,084

Depreciation, amortization and impairment losses

 

(193)

(429)

55.0

(97)

(97)

(219)

55.7

(706)

EBITDA

 

1,550

976

58.8

1,291

259

600

(56.8)

1,790

Special factors affecting EBITDA

 

906

182

n.a.

869

38

198

(80.8)

173

EBITDA (adjusted for special factors)

 

644

794

(18.9)

422

222

403

(44.9)

1,618

Of which: T‑Mobile Netherlands

 

201

355

(43.4)

201

0

184

(100.0)

757

Of which: GD Towersa

 

461

451

2.2

229

232

226

2.7

894

EBITDA AL

 

1,425

816

74.6

1,224

201

516

(61.0)

1,479

Special factors affecting EBITDA AL

 

906

182

n.a.

869

38

198

(80.8)

173

EBITDA AL (adjusted for special factors)

 

519

634

(18.1)

356

164

318

(48.4)

1,307

Of which: T‑Mobile Netherlands

 

190

306

(37.9)

190

0

155

(100.0)

668

Of which: GD Towersa

 

347

339

2.4

173

174

170

2.4

669

EBITDA AL margin (adjusted for special factors)

%

46.5

40.6

 

43.2

56.4

40.8

 

41.3

Cash capex

 

(158)

(250)

36.8

(99)

(59)

(134)

56.0

(572)

The contributions of T-Mobile Netherlands and GD Towers are shown excluding consolidation effects at operating segment level.

a

As of June 1, 2021, the Dutch cell tower business was sold to DIV and subsequently contributed into Cellnex Netherlands.

Total revenue, service revenue

Total revenue in our Group Development operating segment decreased in the first half of 2022 by 28.7 % year-on-year to EUR 1.1 billion. 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 the sale of T‑Mobile Netherlands as of March 31, 2022, and increased 5.8 % year-on-year. This revenue increase resulted from the operational and structural growth of our business unit GD Towers, which includes the German and Austrian cell tower business. The positive trend is down to an increase in the number of sites we have in Germany and was further strengthened by the Austrian cell tower business. Service revenue decreased substantially due to the sale of T‑Mobile Netherlands. The GD Towers business did not generate any service revenues.

Adjusted EBITDA AL, EBITDA AL

Adjusted EBITDA AL decreased by 18.1 % to EUR 519 million. Here too, the decline was mainly attributable to the sale of T‑Mobile Netherlands. In organic terms, adjusted EBITDA AL grew by 15.0 %. 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. EBITDA AL was positively influenced by net special factors of EUR 906 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 609 million compared with the prior-year period to EUR 1.4 billion.

Profit/loss from operations (EBIT)

EBIT increased by EUR 0.8 billion year-on-year to EUR 1.4 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 158 million and thus well below the prior-year level. The reduction is mainly due to the sale of T‑Mobile Netherlands and lower build-out investments made by GD Towers compared with the prior-year period.

AL – After Leases
Since the start of the 2019 financial year, we have taken the effects of the first-time application of IFRS 16 “Leases” into account when determining our financial performance indicators. “EBITDA after leases” (EBITDA AL) is calculated by adjusting EBITDA for depreciation of the right-of-use assets and for interest expenses on recognized lease liabilities. When determining “free cash flow after leases” (free cash flow AL), free cash flow is adjusted for the repayment of lease liabilities.
Glossary