Group Headquarters & Group Services
Development of operations
millions of € |
|
|
|
|
|
|
|
|
|
||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Q1-Q3 2023 |
Q1-Q3 2022 |
Change |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q3 2022 |
Change |
FY 2022 |
||
Revenue |
1,718 |
1,802 |
(4.7) |
578 |
552 |
588 |
582 |
1.0 |
2,407 |
||
Service revenuea |
756 |
772 |
(2.1) |
242 |
240 |
274 |
258 |
6.2 |
1,026 |
||
EBITDA |
(297) |
(58) |
n.a. |
(146) |
(107) |
(44) |
(30) |
(46.7) |
(361) |
||
Special factors affecting EBITDA |
(92) |
(17) |
n.a. |
(42) |
(38) |
(12) |
(18) |
33.3 |
(234) |
||
EBITDA (adjusted for special factors) |
(205) |
(41) |
n.a. |
(104) |
(69) |
(32) |
(12) |
n.a. |
(128) |
||
EBITDA AL |
(514) |
(291) |
(76.6) |
(218) |
(179) |
(117) |
(107) |
(9.3) |
(672) |
||
Special factors affecting EBITDA AL |
(92) |
(17) |
n.a. |
(42) |
(38) |
(12) |
(18) |
33.3 |
(234) |
||
EBITDA AL (adjusted for special factors) |
(422) |
(274) |
(54.0) |
(176) |
(141) |
(105) |
(89) |
(18.0) |
(437) |
||
Depreciation, amortization and impairment losses |
(995) |
(1,105) |
10.0 |
(354) |
(317) |
(325) |
(367) |
11.4 |
(1,476) |
||
Profit (loss) from operations (EBIT) |
(1,293) |
(1,163) |
(11.2) |
(499) |
(424) |
(370) |
(397) |
6.8 |
(1,837) |
||
Cash capex |
(721) |
(731) |
1.4 |
(259) |
(234) |
(228) |
(258) |
11.6 |
(973) |
||
Cash capex (before spectrum investment) |
(721) |
(731) |
1.4 |
(259) |
(234) |
(228) |
(258) |
11.6 |
(973) |
||
|
|||||||||||
Revenue, service revenue
Revenue in our Group Headquarters & Group Services segment decreased in the reporting period by 4.7 %, 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 3.0 % compared with the prior-year period.
Adjusted EBITDA AL, EBITDA AL
Adjusted EBITDA AL in the Group Headquarters & Group Services segment declined by EUR 148 million in the reporting period to EUR ‑422 million, primarily due to higher intragroup reimbursements and lower revenue from land and buildings due to the ongoing optimized use of space. Overall, EBITDA AL was negatively impacted in the reporting period by special factors amounting to EUR 92 million, especially for staff-related measures. In the prior-year period, EBITDA AL had been reduced by negative net special factors of EUR 17 million, with expenses for staff-related measures being offset by the positive effect from the reduction in other provisions, in particular in connection with a measurement effect arising from the obligation to make additional capital contributions for defined benefit obligations vis-à-vis former employees and with the termination of legal proceedings.
Profit/loss from operations (EBIT)
The year-on-year decrease of EUR 130 million in EBIT to EUR ‑1,293 million was largely 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 decreased by EUR 10 million year-on-year, primarily owing to lower capital expenditure in the Technology and Innovation Board of Management department.