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Results of operations of the Group

The GD Towers entity has been recognized in the interim consolidated financial statements as a discontinued operation since the third quarter of 2022. According to the management approach, however, we continue to include the contributions by GD Towers in the Group Development operating segment in the management-relevant financial performance indicators explained here. For the reconciliation to the consolidated income statement, please refer to the relevant table in the section “Group organization, strategy, and management.”

millions of €

 

 

 

 

 

 

 

 

 

 

 

 

Q1-Q3 2022

Q1-Q3 2021

Change
%

Q1 2022

Q2 2022

Q3 2022

Q3 2021

Change
%

FY
2021

Net revenue

 

84,613

79,164

6.9

27,746

27,888

28,979

26,641

8.8

107,811

Service revenue

 

68,227

61,448

11.0

22,021

22,622

23,584

20,971

12.5

83,130

EBITDA AL (adjusted for special factors)

 

30,244

28,323

6.8

9,873

9,891

10,481

9,661

8.5

37,330

EBITDA AL

 

27,085

26,313

2.9

11,087

7,453

8,546

8,723

(2.0)

33,893

Depreciation, amortization and impairment losses

 

(21,357)

(20,625)

(3.5)

(6,765)

(7,570)

(7,021)

(7,002)

(0.3)

(27,482)

Profit (loss) from operations (EBIT)

 

12,085

10,672

13.2

6,327

2,356

3,401

3,466

(1.9)

13,057

Profit (loss) from financial activities

 

(2,574)

(3,661)

29.7

(890)

(634)

(1,051)

(1,491)

29.5

(5,139)

Profit (loss) before income taxes

 

9,510

7,011

35.6

5,438

1,723

2,350

1,974

19.0

7,918

Net profit (loss)

 

6,987

3,705

88.6

3,949

1,460

1,578

889

77.5

4,176

Net profit (loss)
(adjusted for special factors)

 

7,094

4,627

53.3

2,238

2,445

2,411

1,313

83.6

5,862

Earnings per share (basic/diluted)

1.41

0.78

80.8

0.79

0.29

0.32

0.19

68.4

0.87

Adjusted earnings per share (basic/undiluted)

1.43

0.97

47.4

0.45

0.49

0.48

0.27

77.8

1.22

In order to increase the informative value of the prior-year comparatives based on changes to the Company’s structure or exchange rate effects, we also describe selected figures in organic terms, by adjusting the figures for the prior-year period for changes in the composition of the Group, exchange rate effects, and other effects. Due to changes in the composition of the Group, the figures for the prior-year period presented on an organic basis decreased in the Europe operating segment, mainly in connection with the sale of the Romanian fixed-network business as of September 30, 2021, and in the Group Development operating segment, in connection with the sale of T‑Mobile Netherlands as of March 31, 2022. By contrast, the organic figures for the prior-year period in the United States operating segment increased in connection with the acquisition of Shentel as of July 1, 2021. The currency translation effects were primarily the result of the translation of U.S. dollars to euros.

Net revenue, service revenue

In the first three quarters of 2022, we generated net revenue of EUR 84.6 billion, which was up 6.9 % or EUR 5.4 billion year-on-year. In organic terms, revenue increased by EUR 0.5 billion or 0.6 %, including positive net exchange rate effects of EUR 6.2 billion, with the changes in the composition of the Group having the main net reducing effect of EUR 1.3 billion. Service revenue in the Group increased by EUR 6.8 billion or 11.0 % year-on-year to EUR 68.2 billion. In organic terms, service revenue increased by EUR 2.6 billion or 4.0 %.

Contribution of the segments to net revenue (according to the management approach)

millions of €

 

 

 

 

 

 

 

 

 

 

Q1-Q3 2022

Q1-Q3 2021

Change
%

Q1
2022

Q2
2022

Q3
2022

Q3
2021

Change
%

FY
2021

Germany

18,145

17,763

2.2

5,963

6,038

6,144

5,974

2.8

24,050

United States

55,636

49,516

12.4

17,880

18,440

19,316

16,664

15.9

67,791

Europe

8,259

8,403

(1.7)

2,682

2,729

2,848

2,880

(1.1)

11,294

Systems Solutions

2,796

2,803

(0.2)

927

942

927

910

1.9

3,759

Group Development

1,409

2,349

(40.0)

825

291

293

787

(62.8)

3,165

Group Headquarters & Group Services

1,802

1,913

(5.8)

604

616

582

617

(5.7)

2,515

Intersegment revenue

(3,434)

(3,584)

4.2

(1,134)

(1,169)

(1,132)

(1,190)

4.9

(4,763)

Net revenue

84,613

79,164

6.9

27,746

27,888

28,979

26,641

8.8

107,811

Our United States operating segment in particular contributed to the positive revenue trend with an increase of 12.4 %, mainly due to exchange rate effects. In organic terms, revenue declined by 0.5 % year-on-year due to lower terminal equipment revenue, partially offset by higher service revenue. Revenue in our home market of Germany was up on the prior-year level, increasing by 2.2 %. This was mainly driven by growth in service revenues, in both the fixed-network core business and in mobile communications. In our Europe operating segment, revenue decreased by 1.7 % year-on-year, mainly due to the sale of the Romanian fixed-network business. In organic terms, however, revenue increased by 4.5 %, primarily attributable to the strong performance of the mobile business, especially the increase in higher-margin mobile service revenues, increases in roaming and visitor revenues, and volume-driven increases in revenues from terminal equipment sales. Fixed-network service revenue also developed better compared with the prior-year period. Revenue in our Systems Solutions operating segment was down 0.2 % year-on-year; in organic terms, it was down 0.4 %. This decrease was mainly driven by the expected decline in traditional IT infrastructure business, due in part to deliberate business decisions such as the reduction in end-user services. The positive trends, especially in the Digital Solutions, Advisory, and Road Charging portfolio units, did not fully offset this decrease. Revenue in our Group Development operating segment declined by 40.0 % compared with the prior-year period, mainly due to the sale of T‑Mobile Netherlands. In organic terms, it increased by 6.3 %, thanks to the operational and structural growth of the GD Towers business unit.

For further information on revenue development in our segments, please refer to the section “Development of business in the operating segments.”

For information on the extension of the definition of service revenue, please refer to the section “Group organization, strategy, and management.”

Contribution of the segments to net revenuea

%

Contribution of the segments to net revenue (pie chart)
a For further information on net revenue, please refer to the section “Segment reporting” in the interim consolidated financial statements.

Breakdown of revenue by region

%

Breakdown of revenue by region (pie chart)

At 65.7 %, our United States operating segment again provided by far the largest contribution to net revenue of the Group, up 3.2 percentage points above the level in the prior-year period. The proportion of net revenue generated internationally also increased from 76.9 % to 77.9 %.

Adjusted EBITDA AL, EBITDA AL

Adjusted EBITDA AL increased year-on-year by EUR 1.9 billion or 6.8 % to EUR 30.2 billion in the first three quarters of 2022. In organic terms, adjusted EBITDA AL increased by EUR 0.2 billion or 0.7 %, including positive net exchange rate effects of EUR 2.2 billion, and with changes in the composition of the Group having a net reducing effect of EUR 0.5 billion. Adjusted core EBITDA AL, i.e., adjusted EBITDA AL excluding revenue from terminal equipment leases in the United States, thereby presenting operational development undistorted by the strategic withdrawal from the terminal equipment lease business, increased by EUR 3.1 billion or 11.7 % to EUR 29.1 billion.

Contribution of the segments to adjusted Group EBITDA AL (according to the management approach)

millions of €

 

 

 

 

 

 

 

 

 

 

Q1-Q3 2022

Q1-Q3 2021

Change
%

Q1
2022

Q2
2022

Q3
2022

Q3
2021

Change
%

FY
2021

Germany

7,358

7,128

3.2

2,393

2,429

2,535

2,462

3.0

9,536

United States

19,198

17,215

11.5

6,172

6,337

6,690

5,771

15.9

22,697

Europe

3,007

3,046

(1.3)

976

986

1,046

1,105

(5.3)

4,007

Systems Solutions

230

202

13.9

68

79

83

74

12.2

271

Group Development

740

975

(24.1)

356

164

221

340

(35.0)

1,307

Group Headquarters & Group Services

(274)

(191)

(43.5)

(85)

(100)

(89)

(86)

(3.5)

(440)

Reconciliation

(16)

(50)

68.0

(7)

(3)

(5)

(5)

0.0

(47)

EBITDA AL (adjusted for special factors)

30,244

28,323

6.8

9,873

9,891

10,481

9,661

8.5

37,330

The Germany, United States, and Systems Solutions operating segments made a positive contribution to the development of adjusted EBITDA AL. In our United States operating segment, adjusted EBITDA AL increased by 11.5 %, essentially due to exchange rate effects. In organic terms, adjusted EBITDA AL declined by 1.2 % year-on-year. Adjusted core EBITDA AL increased by EUR 3.1 billion or 20.9 % to EUR 18.1 billion. Our Germany operating segment contributed to the increase thanks to high-value revenue growth and improved cost efficiency with 3.2 % higher adjusted EBITDA AL. In our Systems Solutions operating segment, adjusted EBITDA AL increased by 13.9 % or, in organic terms, by 10.2 %. Efficiency effects from our transformation program and increased revenue in our growth areas exceeded the decline in earnings in the traditional IT infrastructure business. Adjusted EBITDA AL in our Europe operating segment decreased by 1.3 %. In organic terms, however, adjusted EBITDA AL grew by 3.9 %, again making a significant positive contribution to earnings, with a positive net margin more than sufficient to offset the higher indirect costs. Adjusted EBITDA AL in our Group Development operating segment declined by 24.1 % year-on-year due to the sale of T‑Mobile Netherlands as of March 31, 2022. In organic terms, it increased by 21.1 %, since the GD Towers business posted consistent growth on the back of a rising number of cell tower sites and was further strengthened by the development of the Austrian cell tower business.

EBITDA AL increased by EUR 0.8 billion or 2.9 % year-on-year to EUR 27.1 billion, with special factors changing from EUR ‑2.0 billion to EUR ‑3.2 billion. Expenses incurred in connection with staff restructuring totaled EUR 0.9 billion, up EUR 0.5 billion against the prior-year level. Net expenses of EUR 1.6 billion were recorded as special factors under effects of deconsolidations, disposals and acquisitions. EUR 4.0 billion of this related to expenses in connection with integration costs incurred as a result of the business combination of T‑Mobile US and Sprint. These expenses included in particular discounts on terminal equipment for former Sprint customers whose devices can no longer be used in the T‑Mobile US mobile network, and expenses arising in connection with the decommissioning of the Sprint mobile network. The latter primarily comprise additional depreciation, amortization and impairment losses from reductions in the useful lives of leased network technology for cell sites in the United States. In connection with the agreement concluded to sell the wireline business, T‑Mobile US recorded expenses totaling EUR 0.7 billion in the third quarter of 2022 on account of payment obligations entered into. Separate from the agreed sale of the wireline business, a gain of EUR 0.1 billion from the consummated sale of IP addresses of the fiber-optic-based wireline network in the United States was recognized in the third quarter of 2022. Income of EUR 1.7 billion resulted from the deconsolidation of GlasfaserPlus, EUR 0.9 billion from the sale of T‑Mobile Netherlands, and another EUR 0.1 billion from the deconsolidation of DIV II. In the prior-year period, net expenses of EUR 1.5 billion were recorded as special factors under effects of deconsolidations, disposals and acquisitions. These expenses also related to the business combination with Sprint and were partially offset by income from the sale of the Dutch cell tower business. The impairment losses recognized as special factors amounted to EUR 0.3 billion and mainly related to right-of-use assets used in connection with the former Sprint’s fiber-optic-based wireline network. Other special factors affecting EBITDA AL amounted to EUR ‑0.3 billion and include net expenses of EUR 0.4 billion in connection with the proceedings pending in consequence of the cyberattack on T‑Mobile US, as well as payments on account from insurance companies of EUR 0.1 billion in connection with damage sustained in the catastrophic flooding in North Rhine-Westphalia and Rhineland-Palatinate in July 2021.

For further information on the development of (adjusted) EBITDA AL in our segments, please refer to the section “Development of business in the operating segments.”

Profit/loss from operations (EBIT)

Group EBIT increased to EUR 12.1 billion, up EUR 1.4 billion or 13.2 % against the level of the prior-year period. This increase is due in particular to the effects described under adjusted EBITDA AL and EBITDA AL. At EUR 21.4 billion, depreciation, amortization and impairment losses were EUR 0.7 billion higher than in the prior-year period, with depreciation and amortization decreasing slightly by EUR 0.1 billion. In the Group Development operating segment, depreciation and amortization were down on the prior-year level in connection with the fact that T‑Mobile Netherlands had been held for sale until it was sold and accordingly the related depreciation and amortization had been suspended, and in connection with its subsequent sale. In addition, depreciation and amortization were suspended for the GD Towers entity, which has been held for sale since July 13, 2022. Depreciation on property, plant and equipment in the United States operating segment declined due to the ongoing strategic withdrawal from the terminal equipment lease business. By contrast, in the United States operating segment, a reduction in the useful life of leased network technology for cell sites following the business combination of T‑Mobile US and Sprint increased depreciation of the corresponding right-of-use assets by EUR 1.4 billion. Impairment losses increased year-on-year by EUR 0.8 billion to EUR 0.9 billion. The impairment losses recorded in the reporting period mainly related to the former Sprint’s fiber-optic-based wireline assets and were in part attributable to the sale of the business agreed in September 2022.

For information on the agreement with DigitalBridge and Brookfield on GD Towers, and the presentation of GD Towers according to the management approach, including reconciliation table, please refer to the section “Group organization, strategy, and management.”

Profit before income taxes

Profit before income taxes increased by EUR 2.5 billion to EUR 9.5 billion. Loss from financial activities decreased year-on-year from EUR 3.7 billion to EUR 2.6 billion, with other financial income/expense improving from EUR ‑0.2 billion to EUR 1.3 billion. This was attributable in particular to positive measurement effects from a forward transaction to hedge the price of acquiring T‑Mobile US shares in the future and positive measurement effects from the amortization and subsequent measurement of the stock options received from SoftBank in June 2020 to buy shares in T‑Mobile US. Measurement effects from currency hedges and less pronounced negative measurement effects from derivatives of T‑Mobile US embedded in bonds compared with the prior-year period also contributed to this. The interest component from the measurement of provisions and liabilities increased by EUR 0.5 billion. However, finance costs also increased from EUR 3.5 billion to EUR 3.9 billion.

Net profit, adjusted net profit

Net profit increased year-on-year by EUR 3.3 billion to EUR 7.0 billion. Tax expense increased by EUR 0.1 billion to EUR 1.8 billion. Profit attributable to non-controlling interests decreased by EUR 0.9 billion to EUR 0.7 billion, with the decrease being primarily attributable to our United States operating segment. Excluding special factors, which had a negative overall effect of EUR 0.1 billion on net profit, adjusted net profit in the first three quarters of 2022 amounted to EUR 7.1 billion, up EUR 2.5 billion against the prior-year period.

For further information on tax expense, please refer to the section “Income taxes” in the interim consolidated financial statements.

Earnings per share, adjusted earnings per share

Earnings per share is calculated as net profit divided by the weighted average number of ordinary shares outstanding, which totaled 4,972 million as of September 30, 2022. This resulted in earnings per share of EUR 1.41, compared with EUR 0.78 in the prior-year period. Earnings per share adjusted for special factors affecting net profit amounted to EUR 1.43 compared with EUR 0.97 in the prior-year period.

Employees

Headcount development

 

 

 

 

 

 

Sept. 30, 2022

Dec. 31, 2021

Change

Change
%

FTEs in the Group

207,930

216,528

(8,598)

(4.0)

Of which: civil servants
(in Germany, with an active service relationship)

8,567

9,653

(1,086)

(11.3)

Germany

60,023

61,768

(1,745)

(2.8)

United States

66,864

71,094

(4,230)

(5.9)

Europe

34,328

35,319

(991)

(2.8)

Systems Solutions

26,838

26,175

663

2.5

Group Development

829

2,674

(1,845)

(69.0)

Of which: GD Towers

757

775

(18)

(2.3)

Group Headquarters & Group Services

19,048

19,498

(450)

(2.3)

As of September 30, 2022, the Group’s headcount was down by 4.0 % compared with the end of 2021. In our Germany operating segment, the number of employees declined by 2.8 % against year-end 2021, largely due to the take-up of socially responsible instruments as part of staff restructuring activities, such as dedicated retirement and phased retirement. The total number of full-time equivalent employees in the United States operating segment decreased by 5.9 % from September 30, 2022 compared to December 31, 2021 – primarily due to intentional headcount rationalization to manage costs. In our Europe operating segment, the headcount was down by 2.8 % compared with the end of the prior year, in particular in Greece, Poland, Slovakia, and Croatia. The headcount in our Systems Solutions operating segment was up 2.5 % against the end of 2021. The effect on headcount of our efficiency enhancement measures was more than offset by increased staff requirements in our growth areas. In the Group Development operating segment, the sharp year-on-year decrease in headcount of 69.0 % was mainly due to the sale of T‑Mobile Netherlands as of March 31, 2022. The headcount in the Group Headquarters & Group Services segment was down 2.3 % compared with the end of 2021, mainly due to the ongoing staff restructuring at Vivento and in the Technology and Innovation unit.

Reconciliations of financial performance indicators from the IFRS consolidated financial statements

A reconciliation of net revenue disclosed in the interim consolidated financial statements, including its breakdown into revenue categories, to the service revenue financial performance indicator can be found in the following table:

billions of €

 

 

 

 

 

 

 

 

 

 

Q1-Q3 2022

Q1-Q3 2021

Change
%

Q1
2022

Q2
2022

Q3
2022

Q3
2021

Change
%

FY
2021

Net revenue

84.5

79.0

6.9

27.7

27.8

28.9

26.6

8.8

107.6

Revenue from the sale of goods and merchandise

(14.4)

(13.8)

(4.6)

(5.0)

(4.6)

(4.8)

(4.5)

(6.0)

(19.6)

Revenue from the use of entity assets by others

(1.8)

(3.0)

41.1

(0.7)

(0.6)

(0.5)

(0.8)

36.8

(3.8)

Revenue from the rendering of services

68.3

62.2

9.7

22.0

22.6

23.6

21.2

11.2

84.2

+/- Reconciliation to service revenue as financial performance indicator

 

 

 

 

 

 

 

 

 

Adjustment of revenue from the rendering of servicesa

(0.8)

(1.6)

47.9

(0.3)

(0.3)

(0.3)

(0.6)

44.4

(2.2)

Adjustment of revenue from the sale of goods and merchandiseb

0.2

0.2

12.9

0.1

0.1

0.1

0.1

26.0

0.3

Adjustment of revenue from the use of entity assets by othersc

0.6

0.7

(13.4)

0.2

0.2

0.2

0.2

(15.2)

0.9

Service revenue

68.2

61.4

11.0

22.0

22.6

23.6

21.0

12.5

83.1

As a result of the agreement concluded on July 13, 2022, the GD Towers entity is recognized in the interim consolidated financial statements as a discontinued operation. As of the third quarter of 2022, the prior-year comparatives were adjusted retrospectively.

a

The definition of “service revenue” does not include, in particular: revenues from valued-added services, revenues from application and contract services, and other non-recurring/variable revenues.

b

Relates to revenues from the sale of hardware in connection with the ICT business.

c

Primarily relates to revenues from wholesale business (e.g., in connection with unbundled local loops (ULL) and co-location spaces).

A reconciliation of the definition of EBITDA to the “after leases” indicator (EBITDA AL) can be found in the following table:

millions of €

 

 

 

 

 

 

 

 

 

 

Q1-Q3 2022

Q1-Q3 2021

Change
%

Q1
2022

Q2
2022

Q3
2022

Q3
2021

Change
%

FY
2021

EBITDA

33,441

31,298

6.8

13,092

9,927

10,422

10,468

(0.4)

40,539

Depreciation of right-of-use assetsa

(5,260)

(4,154)

(26.6)

(1,654)

(2,116)

(1,490)

(1,470)

(1.4)

(5,547)

Interest expenses on recognized lease liabilitiesa

(1,096)

(830)

(32.0)

(351)

(358)

(386)

(274)

(40.9)

(1,099)

EBITDA AL

27,085

26,313

2.9

11,087

7,453

8,546

8,723

(2.0)

33,893

Special factors affecting EBITDA AL

(3,159)

(2,010)

(57.2)

1,214

(2,438)

(1,935)

(938)

n.a.

(3,437)

EBITDA AL (adjusted for special factors)

30,244

28,323

6.8

9,873

9,891

10,481

9,661

8.5

37,330

a

Excluding finance leases at T‑Mobile US.

The following table presents the reconciliation of net profit to net profit adjusted for special factors:

millions of €

 

 

 

 

 

 

 

 

 

 

Q1-Q3 2022

Q1-Q3 2021

Change
%

Q1
2022

Q2
2022

Q3
2022

Q3
2021

Change
%

FY
2021

Net profit (loss)

6,987

3,705

88.6

3,949

1,460

1,578

889

77.5

4,176

Special factors affecting EBITDA AL

(3,159)

(2,010)

(57.2)

1,214

(2,438)

(1,935)

(938)

n.a.

(3,437)

Staff-related measures

(936)

(439)

n.a.

(183)

(386)

(367)

0

n.a.

(717)

Non-staff-related restructuring

(68)

(14)

n.a.

(9)

(37)

(22)

(4)

n.a.

(22)

Effects of deconsolidations, disposals and acquisitions

(1,610)

(1,460)

(10.3)

1,333

(1,433)

(1,510)

(868)

(74.0)

(2,542)

Impairment losses

(272)

0

n.a.

(4)

(197)

(71)

0

n.a.

0

Other

(274)

(97)

n.a.

77

(385)

34

(66)

n.a.

(156)

Special factors affecting net profit

3,051

1,087

n.a.

496

1,453

1,102

514

n.a.

1,751

Impairment losses

(790)

(170)

n.a.

(30)

(310)

(450)

(38)

n.a.

(258)

Profit (loss) from financial activities

27

(10)

n.a.

21

3

3

0

n.a.

(139)

Income taxes

1,415

624

n.a.

4

778

633

259

n.a.

1,064

Non-controlling interests

2,400

644

n.a.

502

982

916

293

n.a.

1,084

Special factors

(108)

(923)

88.3

1,710

(985)

(833)

(423)

(96.9)

(1,686)

Net profit (loss)
(adjusted for special factors)

7,094

4,627

53.3

2,238

2,445

2,411

1,313

83.6

5,862

The following table presents a reconciliation of EBITDA AL, EBIT, and net profit to the respective figures adjusted for special factors:

millions of €

 

 

 

 

 

 

 

EBITDA AL
Q1-Q3 2022

EBIT
Q1-Q3 2022

EBITDA AL
Q1-Q3 2021

EBIT
Q1-Q3 2021

EBITDA AL
FY
2021

EBIT
FY
2021

EBITDA AL/EBIT

27,085

12,085

26,313

10,672

33,893

13,057

Germany

1,276

1,276

(395)

(395)

(595)

(596)

Staff-related measures

(381)

(381)

(315)

(315)

(478)

(478)

Non-staff-related restructuring

(4)

(4)

(9)

(9)

(12)

(12)

Effects of deconsolidations, disposals and acquisitions

1,619

1,619

(2)

(2)

(3)

(3)

Impairment losses

0

0

0

0

0

(1)

Other

42

42

(70)

(70)

(102)

(102)

United States

(5,327)

(6,017)

(1,555)

(1,613)

(2,637)

(2,692)

Staff-related measures

(318)

(318)

(15)

(15)

(16)

(16)

Non-staff-related restructuring

0

0

0

0

0

0

Effects of deconsolidations, disposals and acquisitions

(4,379)

(4,514)

(1,540)

(1,540)

(2,621)

(2,618)

Impairment losses

(271)

(827)

0

(58)

0

(58)

Other

(359)

(359)

0

0

0

0

Europe

8

8

55

55

11

11

Staff-related measures

(51)

(51)

101

101

83

83

Non-staff-related restructuring

0

0

(1)

(1)

(1)

(1)

Effects of deconsolidations, disposals and acquisitions

5

5

(38)

(38)

(39)

(39)

Impairment losses

0

0

0

0

0

0

Other

54

54

(8)

(8)

(32)

(32)

Systems Solutions

(106)

(156)

(163)

(233)

(206)

(384)

Staff-related measures

(74)

(74)

(104)

(104)

(141)

(141)

Non-staff-related restructuring

0

0

(2)

(2)

(3)

(3)

Effects of deconsolidations, disposals and acquisitions

(2)

(2)

(39)

(39)

(39)

(39)

Impairment losses

0

(49)

0

(71)

0

(178)

Other

(30)

(30)

(18)

(18)

(24)

(24)

Group Development

1,007

1,007

161

161

173

173

Staff-related measures

(3)

(3)

(7)

(7)

(8)

(8)

Non-staff-related restructuring

0

0

0

0

0

0

Effects of deconsolidations, disposals and acquisitions

1,011

1,011

170

170

184

184

Impairment losses

0

0

0

0

0

0

Other

(1)

(1)

(2)

(2)

(3)

(3)

Group Headquarters & Group Services

(17)

(46)

(113)

(127)

(182)

(203)

Staff-related measures

(108)

(108)

(99)

(99)

(157)

(157)

Non-staff-related restructuring

(64)

(64)

(2)

(2)

(7)

(7)

Effects of deconsolidations, disposals and acquisitions

136

136

(12)

(12)

(23)

(23)

Impairment losses

(1)

(30)

0

(14)

0

(21)

Other

19

19

0

0

5

5

Group

(3,159)

(3,927)

(2,010)

(2,152)

(3,437)

(3,692)

Staff-related measures

(936)

(936)

(439)

(439)

(717)

(717)

Non-staff-related restructuring

(68)

(68)

(14)

(14)

(22)

(22)

Effects of deconsolidations, disposals and acquisitions

(1,610)

(1,744)

(1,460)

(1,460)

(2,542)

(2,538)

Impairment losses

(272)

(905)

0

(142)

0

(258)

Other

(274)

(274)

(97)

(97)

(156)

(156)

EBITDA AL/EBIT (adjusted for special factors)

30,244

16,012

28,323

12,824

37,330

16,749

Profit (loss) from financial activities (adjusted for special factors)

 

(2,579)

 

(3,623)

 

(4,998)

Profit (loss) before income taxes (adjusted for special factors)

 

13,433

 

9,202

 

11,752

Income taxes (adjusted for special factors)

 

(3,233)

 

(2,352)

 

(2,879)

Profit (loss) (adjusted for special factors)

 

10,200

 

6,850

 

8,873

Profit (loss) (adjusted for special factors) attributable to

 

 

 

 

 

 

Owners of the parent (net profit (loss)) (adjusted for special factors)

 

7,094

 

4,627

 

5,862

Non-controlling interests (adjusted for special factors)

 

3,106

 

2,223

 

3,011

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
IP – Internet Protocol
Non-proprietary transport protocol in Layer 3 of the OSI reference model for inter-network communications.
Glossary
Roaming
Refers to the use of a communication device or just a subscriber identity in a visited network rather than one’s home network. This requires the operators of both networks to have reached a roaming agreement and switched the necessary signaling and data connections between their networks. Roaming comes into play, for example, when cell phones and smartphones are used across national boundaries.
Glossary