Group Headquarters & Group Services
Development of operations
millions of € |
|
|
|
|
|
|
|
|
|---|---|---|---|---|---|---|---|---|
|
H1 |
H1 |
Change |
Q1 |
Q2 |
Q2 |
Change |
FY |
Revenue |
1,107 |
1,130 |
(2.0) |
546 |
561 |
552 |
1.6 |
2,305 |
Service revenue |
476 |
482 |
(1.3) |
236 |
240 |
240 |
0.0 |
1,024 |
EBITDA |
(320) |
(253) |
(26.5) |
(138) |
(182) |
(107) |
(70.0) |
(522) |
Special factors affecting EBITDA |
(133) |
(80) |
(66.1) |
(37) |
(96) |
(38) |
n.a. |
(199) |
EBITDA (adjusted for special factors) |
(187) |
(173) |
(8.2) |
(101) |
(86) |
(69) |
(24.3) |
(323) |
EBITDA AL |
(459) |
(397) |
(15.7) |
(205) |
(254) |
(179) |
(41.7) |
(808) |
Special factors affecting EBITDA AL |
(133) |
(80) |
(66.1) |
(37) |
(96) |
(38) |
n.a. |
(199) |
EBITDA AL (adjusted for special factors) |
(326) |
(317) |
(2.9) |
(168) |
(158) |
(141) |
(11.8) |
(609) |
Depreciation, amortization and impairment losses |
(605) |
(670) |
9.8 |
(301) |
(304) |
(317) |
4.1 |
(1,352) |
Profit (loss) from operations (EBIT) |
(924) |
(923) |
(0.2) |
(439) |
(485) |
(424) |
(14.6) |
(1,874) |
Cash capex |
(395) |
(493) |
19.9 |
(199) |
(196) |
(234) |
16.3 |
(969) |
Cash capex (before spectrum investment) |
(395) |
(493) |
19.9 |
(199) |
(196) |
(234) |
16.3 |
(969) |
Revenue, service revenue
Revenue in our Group Headquarters & Group Services segment decreased in the reporting period by 2.0 %, mainly as a result of lower intragroup revenue from land and buildings due to the ongoing optimization of space. Service revenue was slightly below the prior-year level.
Adjusted EBITDA AL, EBITDA AL
Adjusted EBITDA AL in the Group Headquarters & Group Services segment declined by EUR 9 million in the reporting period to EUR ‑326 million. This development was mainly attributable to a decrease in revenues from land and buildings due to the ongoing optimization of space, which was partially offset by lower operating expenses at our Group Services. Overall, special factors negatively affecting EBITDA AL – in particular relating to staff-related measures – totaled EUR 133 million in the reporting period and EUR 80 million in the prior-year period.
Profit/loss from operations (EBIT)
At EUR ‑924 million, EBIT remained on a par with the prior-year period, largely a result of two contrasting effects: the negative development of EBITDA AL on the one hand, and the decline in depreciation and amortization losses on the other. The latter was driven mainly by lower capitalization in connection with declines in the licensing of the Group-wide ERP system, as well as by fewer commissions of IT projects.
Cash capex (before spectrum investment), cash capex
Cash capex decreased by EUR 98 million year-on-year, primarily due to lower capital expenditure in the Technology and Innovation Board of Management department on account of fewer commissions of IT projects.