Group Headquarters & Group Services
Development of operations
millions of € |
|
|
|
|
|
|
|
|
||
|---|---|---|---|---|---|---|---|---|---|---|
|
H1 2023 |
H1 2022 |
Change |
Q1 2023 |
Q2 2023 |
Q2 2022 |
Change |
FY 2022 |
||
Revenue |
1,130 |
1,220 |
(7.4) |
578 |
552 |
616 |
(10.4) |
2,407 |
||
Service revenuea |
482 |
514 |
(6.2) |
242 |
240 |
257 |
(6.6) |
1,026 |
||
EBITDA |
(253) |
(28) |
n.a. |
(146) |
(107) |
(37) |
n.a. |
(361) |
||
Special factors affecting EBITDA |
(80) |
2 |
n.a. |
(42) |
(38) |
(14) |
n.a. |
(234) |
||
EBITDA (adjusted for special factors) |
(173) |
(30) |
n.a. |
(104) |
(69) |
(23) |
n.a. |
(128) |
||
EBITDA AL |
(397) |
(184) |
n.a. |
(218) |
(179) |
(112) |
(59.8) |
(672) |
||
Special factors affecting EBITDA AL |
(80) |
1 |
n.a. |
(42) |
(38) |
(12) |
n.a. |
(234) |
||
EBITDA AL |
(317) |
(185) |
(71.4) |
(176) |
(141) |
(100) |
(41.0) |
(437) |
||
Depreciation, amortization and impairment losses |
(670) |
(738) |
9.2 |
(354) |
(317) |
(359) |
11.7 |
(1,476) |
||
Profit (loss) from operations (EBIT) |
(923) |
(766) |
(20.5) |
(499) |
(424) |
(397) |
(6.8) |
(1,837) |
||
Cash capex |
(493) |
(473) |
(4.2) |
(259) |
(234) |
(238) |
1.7 |
(973) |
||
Cash capex |
(493) |
(473) |
(4.2) |
(259) |
(234) |
(238) |
1.7 |
(973) |
||
|
||||||||||
Revenue, service revenue
Revenue in our Group Headquarters & Group Services segment in the first half of 2023 decreased by 7.4 % year-on-year, mainly as a result of lower intragroup revenues from land and buildings due to the ongoing optimized use of space as well as to lower intragroup service revenues at Deutsche Telekom IT on account of a reduced revenue-relevant cost basis. By contrast, the reassignment of units in connection with the bundling of finance functions that were still assigned to the Germany operating segment in the first quarter of 2022 had an increasing effect on revenue. Against this background, organic revenue decreased by 5.7 % compared with the prior-year period.
Adjusted EBITDA AL, EBITDA AL
Adjusted EBITDA AL in the Group Headquarters & Group Services segment declined by EUR 132 million in the reporting period to EUR ‑317 million, primarily due to higher intragroup reimbursements and lower revenue from land and buildings, as well as expected seasonal fluctuations. Overall, EBITDA AL was negatively impacted in the reporting period by special factors amounting to EUR 80 million, especially for staff-related measures. In the prior-year period, EBITDA AL had benefited from positive net special factors of EUR 1 million, with the positive effect from the reduction of other provisions, including in connection with the termination of legal proceedings, offsetting expenses for staff-related measures.
Profit/loss from operations (EBIT)
The year-on-year decrease of EUR 157 million in EBIT to EUR ‑923 million was mainly due to the decline in EBITDA AL. Depreciation, amortization and impairment losses were down by contrast, largely due to lower capitalization in connection with declines both in the licensing of the Group-wide ERP system and in land and buildings due to the ongoing optimization of our real estate portfolio.
Cash capex (before spectrum investment), cash capex
Cash capex increased by EUR 20 million year-on-year, primarily owing to higher capital expenditure in the Technology and Innovation Board of Management department.