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Group Development

The sale of T‑Mobile Netherlands was consummated on March 31, 2022. The company’s contributions are included in the figures for customer development up to March 31, 2022 and in the development of operations for the first quarter of 2022.

For further information on the transaction closing, please refer to the section “Group organization, strategy, and management.”

Customer development

thousands

 

 

 

 

 

 

 

 

Mar. 31, 2022

Dec. 31, 2021

Change
Mar. 31, 2022/
Dec. 31, 2021
%

Mar. 31, 2021

Change
Mar. 31, 2022/
Mar. 31, 2021 
%

T‑Mobile Netherlands

Mobile customers

6,949

6,939

0.1

6,798

2.2

Fixed-network lines

754

739

2.0

693

8.8

Broadband customers

744

728

2.2

680

9.4

In the Netherlands, the number of mobile customers increased slightly. The number of fixed-network lines in the Netherlands contributed to the positive development of operational business and continued to profit from the relaxation of coronavirus-related measures, as well as from successful advertising.

Development of operations

millions of €

 

 

 

 

 

 

 

 

Q1 2022

Q1 2021

Change

Change %

FY 2021

Total revenue

 

825

782

43

5.5

3,165

Of which: T‑Mobile Netherlands

 

536

513

23

4.5

2,071

Of which: GD Towersa

 

284

282

2

0.7

1,112

Service revenue

 

411

390

21

5.4

1,621

Profit (loss) from operations (EBIT)

 

1,194

166

1,028

n.a.

1,084

Depreciation, amortization and impairment losses

 

(97)

(210)

113

53.8

(706)

EBITDA

 

1,291

376

915

n.a.

1,790

Special factors affecting EBITDA

 

869

(16)

885

n.a.

173

EBITDA (adjusted for special factors)

 

422

392

30

7.7

1,618

Of which: T‑Mobile Netherlands

 

201

171

30

17.5

757

Of which: GD Towersa

 

229

224

5

2.2

894

EBITDA AL

 

1,224

301

923

n.a.

1,479

Special factors affecting EBITDA AL

 

869

(16)

885

n.a.

173

EBITDA AL (adjusted for special factors)

 

356

316

40

12.7

1,307

Of which: T‑Mobile Netherlands

 

190

151

39

25.8

668

Of which: GD Towersa

 

173

169

4

2.4

669

EBITDA AL margin (adjusted for special factors)

%

43.2

40.4

 

 

41.3

Cash capex

 

(99)

(115)

16

13.9

(572)

The contributions of T-Mobile Netherlands and GD Towers are shown excluding consolidation effects at operating segment level.

a

As of June 1, 2021, the Dutch cell tower business was sold to DIV and subsequently contributed into Cellnex Netherlands.

Total revenue, service revenue

Total revenue in our Group Development operating segment increased in the first quarter of 2022 by 5.5 % year-on-year to EUR 825 million. In organic terms, revenue changed in the prior-year period due to the sale of the Dutch cell tower business as of June 1, 2021 and increased 5.6 % year-on-year. This revenue increase resulted from the operational and structural growth of our two business units T‑Mobile Netherlands and GD Towers, which includes DFMG and the Austrian cell tower business. In the Netherlands, both mobile and fixed-network business contributed to the increase in revenue thanks to rising customer numbers. GD Towers also recorded an increase in revenue, driven by growth in the number of cell sites at DFMG and the Austrian cell tower business. Service revenue rose by 5.4 % year-on-year to EUR 411 million, thanks primarily to the operational growth of the T‑Mobile Netherlands business unit.

Adjusted EBITDA AL, EBITDA AL

Adjusted EBITDA AL increased by 12.7 % to EUR 356 million. This growth was attributable to the aforementioned positive revenue trend and efficient cost management at T‑Mobile Netherlands. The GD Towers business posted consistent growth on the back of rising volumes and was further strengthened by the Austrian cell tower business. An operational increase in adjusted EBITDA AL was also achieved through revenue growth and cost transformation. In organic terms, adjusted EBITDA AL grew by 19.2 %. EBITDA AL was positively influenced by net special factors of EUR 869 million, which mainly related to the gain on deconsolidation due to the sale of the T‑Mobile Netherlands business unit. EBITDA AL increased by EUR 923 million compared with the prior-year period to EUR 1.2 billion.

EBIT

EBIT increased by EUR 1.0 billion year-on-year to EUR 1.2 billion, mainly as a result of the development described under EBITDA AL. Depreciation, amortization and impairment losses were down year-on-year, primarily due to lower depreciation and amortization in connection with the fact that T‑Mobile Netherlands has been held for sale since September 6, 2021, and, accordingly, the related depreciation and amortization has been suspended.

Cash capex

Cash capex stood at EUR 99 million and thus below the prior-year level. The decline is attributable to the lower planned build-out investments compared with the prior-year period, which are set to rise substantially in subsequent quarters. We continue to focus our investments on the accelerated 5G build-out and the build-out of mobile infrastructure in Germany.

5G
New communications standard (launched from 2020), which offers data rates in the gigabit range, converges fixed-network and mobile communications, and supports the Internet of Things.
Glossary
AL – After Leases
Since the start of the 2019 financial year, we have taken the effects of the first-time application of IFRS 16 “Leases” into account when determining our financial performance indicators. “EBITDA after leases” (EBITDA AL) is calculated by adjusting EBITDA for depreciation of the right-of-use assets and for interest expenses on recognized lease liabilities. When determining “free cash flow after leases” (free cash flow AL), free cash flow is adjusted for the repayment of lease liabilities.
Glossary
Fixed-network lines
Lines in operation excluding internal use and public telecommunications, including IP-based lines. The totals reported in the combined management report were calculated on the basis of precise figures and rounded to millions or thousands. Percentages were calculated on the basis of the figures shown.
Glossary
Mobile customers
In the combined management report, one mobile communications card corresponds to one customer. The totals were calculated on the basis of precise figures and rounded to millions or thousands. Percentages were calculated on the basis of the figures shown (see also SIM card).
Glossary