Group Headquarters & Group Services
Development of operations
millions of € |
|
|
|
|
|
|
|
|
|
H1 2025 |
H1 2024 |
Change |
Q1 2025 |
Q2 2025 |
Q2 2024 |
Change |
FY 2024 |
|---|---|---|---|---|---|---|---|---|
Revenue |
1,100 |
1,107 |
(0.7) |
549 |
551 |
561 |
(1.7) |
2,226 |
Service revenue |
486 |
476 |
2.2 |
243 |
244 |
240 |
1.6 |
972 |
EBITDA |
(262) |
(320) |
18.2 |
(115) |
(147) |
(182) |
19.2 |
(816) |
Special factors affecting EBITDA |
(57) |
(133) |
57.3 |
(8) |
(49) |
(96) |
49.3 |
(301) |
EBITDA (adjusted for special factors) |
(205) |
(187) |
(9.7) |
(106) |
(98) |
(86) |
(14.7) |
(515) |
EBITDA AL |
(380) |
(459) |
17.3 |
(174) |
(206) |
(254) |
19.0 |
(1,103) |
Special factors affecting EBITDA AL |
(57) |
(133) |
57.3 |
(8) |
(49) |
(96) |
49.3 |
(301) |
EBITDA AL (adjusted for special factors) |
(323) |
(326) |
1.0 |
(166) |
(157) |
(158) |
0.6 |
(801) |
Depreciation, amortization and impairment losses |
(578) |
(605) |
4.4 |
(287) |
(290) |
(304) |
4.3 |
(1,242) |
Profit (loss) from operations (EBIT) |
(839) |
(924) |
9.2 |
(402) |
(437) |
(485) |
9.9 |
(2,058) |
Cash capex |
(427) |
(395) |
(8.1) |
(210) |
(217) |
(196) |
(11.0) |
(833) |
Cash capex (before spectrum investment) |
(427) |
(395) |
(8.1) |
(210) |
(217) |
(196) |
(11.0) |
(833) |
Revenue, service revenue
Revenue in our Group Headquarters & Group Services segment decreased by 0.7 % in the first half of 2025, mainly as a result of lower intragroup revenue from land and buildings due to the ongoing optimization of space. This was offset by increased service revenue owing to a higher cost basis for intragroup settlements and additional issues at Deutsche Telekom IT.
Adjusted EBITDA AL, EBITDA AL
In the first half of 2025, adjusted EBITDA AL of EUR ‑323 million was slightly up against the level of the prior-year period. The main positive effect came from lower operating expenses in our Group Services. By contrast, intragroup revenue from land and buildings declined due to the ongoing optimization of space. Overall, special factors negatively affecting EBITDA AL – in particular due to staff-related measures – totaled EUR 57 million in the reporting period and EUR 133 million in the prior-year period.
Profit/loss from operations (EBIT)
The year-on-year improvement in EBIT by EUR 85 million to EUR ‑839 million was largely due to the positive development of EBITDA. Furthermore, depreciation, amortization and impairment losses decreased, mainly in the area of land and buildings as a result of the ongoing optimization of our real estate portfolio, and due to a lower capitalization rate for own capitalized costs in connection with IT projects.
Cash capex (before spectrum investment), cash capex
Cash capex increased by EUR 32 million year-on-year, primarily due to higher cash capex for vehicles.