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 |
Dec. 31, 2021 |
Change |
June 30, 2021 |
Change |
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) |
||||
|
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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.