Systems Solutions
Order entry
millions of € |
|
|
|
|
|
|
Q1-Q3 2024 |
H1 2024 |
FY 2023 |
Q1-Q3 2023 |
Change |
|---|---|---|---|---|---|
Order entry |
2,650 |
1,780 |
3,628 |
2,241 |
18.2 |
Development of business
In the first nine months of 2024, our systems solutions business continued to focus on growth and future viability.
Order entry in our Systems Solutions operating segment was up by 18.2 % year-on-year in the first nine months of 2024. This development is mainly attributable to increased order entry in the Cloud and Digital portfolio areas.
Development of operations
millions of € |
|
|
|
|
|
|
|
|
|
|
|
|
Q1-Q3 |
Q1-Q3 |
Change |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q3 2023 |
Change |
FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue |
|
2,966 |
2,865 |
3.5 |
993 |
981 |
991 |
960 |
3.3 |
3,896 |
Of which: external revenue |
|
2,506 |
2,390 |
4.9 |
843 |
831 |
832 |
802 |
3.8 |
3,258 |
Service revenue |
|
2,878 |
2,792 |
3.1 |
973 |
947 |
958 |
937 |
2.3 |
3,796 |
EBITDA |
|
253 |
229 |
10.4 |
77 |
78 |
98 |
75 |
31.8 |
272 |
Special factors affecting EBITDA |
|
(82) |
(86) |
4.6 |
(23) |
(32) |
(27) |
(35) |
24.0 |
(144) |
EBITDA (adjusted for special factors) |
|
335 |
315 |
6.3 |
100 |
110 |
125 |
109 |
14.1 |
416 |
EBITDA AL |
|
185 |
159 |
16.0 |
54 |
55 |
76 |
51 |
48.0 |
177 |
Special factors affecting EBITDA AL |
|
(82) |
(86) |
4.6 |
(23) |
(32) |
(27) |
(35) |
24.0 |
(144) |
EBITDA AL (adjusted for special factors) |
|
267 |
245 |
8.8 |
77 |
87 |
102 |
86 |
18.9 |
321 |
EBITDA AL margin (adjusted for special factors) |
% |
9.0 |
8.6 |
|
7.8 |
8.9 |
10.3 |
9.0 |
|
8.3 |
Depreciation, amortization and impairment losses |
|
(177) |
(209) |
15.3 |
(59) |
(59) |
(59) |
(91) |
34.9 |
(344) |
Profit (loss) from operations (EBIT) |
|
76 |
20 |
n.a. |
18 |
19 |
39 |
(16) |
n.a. |
(71) |
Special factors affecting EBIT |
|
(97) |
(132) |
26.6 |
(30) |
(37) |
(30) |
(70) |
56.6 |
(270) |
EBIT (adjusted for special factors) |
|
173 |
152 |
13.7 |
48 |
55 |
70 |
54 |
29.1 |
198 |
EBIT margin (adjusted for special factors) |
% |
5.8 |
5.3 |
|
4.8 |
5.6 |
7.0 |
5.6 |
|
5.1 |
Cash capex |
|
(170) |
(166) |
(2.3) |
(63) |
(61) |
(47) |
(46) |
(1.2) |
(210) |
Cash capex (before spectrum investment) |
|
(170) |
(166) |
(2.3) |
(63) |
(61) |
(47) |
(46) |
(1.2) |
(210) |
Revenue, service revenue
Revenue in our Systems Solutions operating segment was up by 3.5 % year-on-year in the first nine months of 2024 to EUR 3.0 billion, mainly due to growth in the Cloud, Digital, and Road Charging portfolio areas. External revenue increased by 4.9 %, also driven by the Cloud, Digital, and Road Charging portfolio areas. Service revenue also developed positively, increasing by 3.1 %.
Adjusted EBITDA AL, EBITDA AL
In the first nine months of 2024, adjusted EBITDA AL at our Systems Solutions operating segment increased by 8.8 % year-on-year to EUR 267 million. The increase in adjusted EBITDA AL is mainly attributable to revenue growth in the Cloud and Digital areas. EBITDA AL increased by EUR 26 million compared with the prior-year period to EUR 185 million. The expense arising from special factors decreased by EUR 4 million year-on-year to EUR 82 million, mainly as a result of lower restructuring costs.
Profit/loss from operations (EBIT), adjusted EBIT
Adjusted EBIT in our Systems Solutions operating segment grew by EUR 21 million year-on-year in the first nine months of 2024, coming in at EUR 173 million, due to the reasons described under adjusted EBITDA AL. EBIT increased significantly year-on-year to EUR 76 million. This increase was due to both an operational improvement and to lower depreciation, amortization and impairment losses. The expense arising from special factors was EUR 97 million, a decrease of EUR 35 million year-on-year, mainly as a result of lower impairment losses.
Cash capex (before spectrum investment), cash capex
Cash capex in the Systems Solutions operating segment stood at EUR 170 million in the first nine months of 2024, up EUR 4 million against the prior-year period. This trend mainly resulted from higher cash capex in the Cloud portfolio area.