Notes to the consolidated statement of cash flows

Net cash from operating activities

At EUR 19.9 billion, net cash from operating activities was EUR 1.0 billion higher than in the prior-year period. The ongoing strong development of the operating business was offset in part by an increase in tax payments of EUR 0.2 billion and an increase in net interest payments of EUR 0.1 billion, among other effects.

Net cash used in/from investing activities

At EUR 8.6 billion, cash outflows for investments in intangible assets and property, plant and equipment were EUR 0.9 billion lower than in the prior-year period. In the reporting period, cash outflows of EUR 0.2 billion in total were recorded for the acquisition of mobile spectrum licenses in the United States operating segment. In the prior year, this item had included cash outflows for the acquisition of mobile spectrum licenses of EUR 0.1 billion in the United States operating segment and of EUR 0.2 billion in the Europe operating segment. Excluding investments in mobile spectrum licenses, cash outflows for investments in intangible assets and property, plant and equipment were down EUR 0.8 billion year-on-year. Cash outflows in the United States operating segment decreased by EUR 1.0 billion, in particular due to higher cash outflows for investments in prior years for the accelerated build-out of the 5G network. In the Germany operating segment, by contrast, cash outflows increased by EUR 0.3 billion.

Net cash used in/from financing activities

Non-cash transactions

In the reporting period, Deutsche Telekom leased assets with a carrying amount of EUR 1.8 billion, mainly network equipment, cell sites, and land and buildings. These assets are recognized in the statement of financial position under right-of-use assets and the related liabilities under lease liabilities. Future repayments of the liabilities will be recognized in net cash used in/from financing activities. The corresponding additions of right-of-use assets were down EUR 2.3 billion against the prior-year period, mainly due to the leaseback of passive network infrastructure in Germany and Austria under the sale-and-leaseback agreement in connection with the sale of the GD tower companies in the first quarter of 2023 and due to the accelerated build-out of the 5G network in the prior years in the United States operating segment.

Consideration for the acquisition of broadcasting rights is paid by Deutsche Telekom in accordance with the terms of the contract on the date of its conclusion or spread over the term of the contract. Financial liabilities of EUR 0.2 billion were recognized in the reporting period for future consideration for acquired broadcasting rights (prior-year period: EUR 0.1 billion). The payment of the consideration will be recognized in net cash used in/from financing activities.

In connection with the acquisition of Ka’ena in the United States, which was consummated on May 1, 2024, T‑Mobile US settled part of the upfront payment in the form of around 3 million ordinary shares in T‑Mobile US with a total value of around USD 0.5 billion (EUR 0.5 billion), determined on the basis of the closing share price on April 30, 2024. In addition, an other non-current financial liability of USD 0.2 billion (EUR 0.2 billion) was recognized as of the acquisition date for the fair value of the contingent and other consideration payable on August 1, 2026.

For further information on the acquisition of Ka’ena, please refer to the section “Changes in the composition of the Group and other transactions.”