Group Headquarters & Group Services
Development of operations
millions of € |
|
|
|
|
|
|
|
|
|
|---|---|---|---|---|---|---|---|---|---|
|
Q1-Q3 2022 |
Q1-Q3 2021 |
Change |
Q1 2022 |
Q2 2022 |
Q3 2022 |
Q3 2021 |
Change |
FY 2021 |
Total revenue |
1,802 |
1,913 |
(5.8) |
604 |
616 |
582 |
617 |
(5.7) |
2,515 |
Service revenue |
730 |
747 |
(2.3) |
245 |
242 |
243 |
246 |
(1.2) |
984 |
Profit (loss) from operations (EBIT) |
(1,163) |
(1,127) |
(3.2) |
(369) |
(397) |
(397) |
(392) |
(1.3) |
(1,764) |
Depreciation, amortization and impairment losses |
(1,105) |
(1,066) |
(3.7) |
(379) |
(359) |
(367) |
(354) |
(3.7) |
(1,463) |
EBITDA |
(58) |
(62) |
6.5 |
10 |
(37) |
(30) |
(38) |
21.1 |
(300) |
Special factors affecting EBITDA |
(17) |
(113) |
85.0 |
16 |
(14) |
(18) |
(32) |
43.8 |
(182) |
EBITDA (adjusted for special factors) |
(41) |
51 |
n.a. |
(6) |
(23) |
(12) |
(6) |
(100.0) |
(118) |
EBITDA AL |
(291) |
(304) |
4.3 |
(72) |
(112) |
(107) |
(119) |
10.1 |
(622) |
Special factors affecting EBITDA AL |
(17) |
(113) |
85.0 |
13 |
(12) |
(18) |
(32) |
43.8 |
(182) |
EBITDA AL (adjusted for special factors) |
(274) |
(191) |
(43.5) |
(85) |
(100) |
(89) |
(86) |
(3.5) |
(440) |
Cash capex |
(731) |
(702) |
(4.1) |
(235) |
(238) |
(258) |
(230) |
(12.2) |
(1,007) |
Total revenue, service revenue
Total revenue in our Group Headquarters & Group Services segment decreased in the reporting period by 5.8 %, 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 from the licensing of the One.ERP system. The relocation of units previously assigned to the Germany operating segment in connection with the bundling of financial functions had an offsetting effect. Against this background, organic revenue decreased by 7.7 % compared with the prior-year period.
Adjusted EBITDA AL, EBITDA AL
Adjusted EBITDA AL in the Group Headquarters & Group Services segment declined by EUR 83 million year-on-year in the reporting period to EUR ‑274 million, largely as a result of lower revenue from land and buildings and at Deutsche Telekom IT.
Overall, negative net special factors of EUR 17 million affected EBITDA AL in the reporting period. Expenses in connection with staff-related measures were offset by the positive effect from the reduction in other provisions. This was due in particular to a measurement effect in connection with the obligation to make additional capital contributions for defined benefit obligations vis-à-vis former employees as a result of the increase in interest rates, and from the termination of legal proceedings. In the prior-year period, EBITDA AL had been negatively impacted by special factors amounting to EUR 113 million, especially for staff-related measures. Against this background, EBITDA AL increased by EUR 13.0 million to EUR -291 million.
Profit/loss from operations (EBIT)
The year-on-year decline in EBIT of EUR 36 million to EUR ‑1,163 million was largely a result of two offsetting effects: the increase in depreciation, amortization and impairment losses on the one hand, and the positive development of EBITDA AL on the other. The increase in depreciation, amortization and impairment losses is mainly attributable to shorter project runtimes at Deutsche Telekom IT. By contrast, depreciation, amortization and impairment losses from land and buildings decreased as a result of our continued optimization of the real estate portfolio.
Cash capex
Cash capex grew by EUR 29 million year-on-year. Higher investments in the Technology and Innovation unit were offset by lower cash capex for vehicles.