Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | ||||
Net revenue |
16,238 |
15,125 |
7.4 |
32,140 |
30,103 |
6.8 |
61,666 | |||
Domestic |
6,817 |
7,184 |
(5.1) |
13,760 |
14,438 |
(4.7) |
28,885 | |||
International |
9,421 |
7,941 |
18.6 |
18,380 |
15,665 |
17.3 |
32,781 | |||
EBIT (profit from operations) |
2,012 |
1,868 |
7.7 |
2,256 |
4,166 |
(45.8) |
7,040 | |||
Special factors affecting EBITa |
(246) |
(294) |
16.3 |
(1,919) |
(25) |
n.a. |
(1,780) | |||
Adjusted EBITa |
2,258 |
2,162 |
4.4 |
4,175 |
4,191 |
(0.4) |
8,820 | |||
Adjusted EBIT margina |
(%) |
13.9 |
14.3 |
13.0 |
13.9 |
14.3 | ||||
Profit (loss) from financial activities |
(1,015) |
(976) |
(4.0) |
(1,757) |
(1,653) |
(6.3) |
(3,588) | |||
Profit before income taxes |
997 |
892 |
11.8 |
499 |
2,513 |
(80.1) |
3,452 | |||
Depreciation, amortization and impairment losses |
(3,015) |
(2,698) |
(11.7) |
(7,713) |
(5,355) |
(44.0) |
(10,975) | |||
EBITDAb |
5,027 |
4,566 |
10.1 |
9,969 |
9,521 |
4.7 |
18,015 | |||
Special factors affecting EBITDAa,b |
(231) |
(284) |
18.7 |
(101) |
(15) |
n.a. |
(1,444) | |||
Adjusted EBITDAa,b |
5,258 |
4,850 |
8.4 |
10,070 |
9,536 |
5.6 |
19,459 | |||
Adjusted EBITDA margina,b |
(%) |
32.4 |
32.1 |
31.3 |
31.7 |
31.6 | ||||
Net profit (loss) |
521 |
394 |
32.2 |
(603) |
1,318 |
n.a. |
1,483 | |||
Special factorsa |
(235) |
(239) |
1.7 |
(2,014) |
(65) |
n.a. |
(1,943) | |||
Adjusted net profit (loss)a |
756 |
633 |
19.4 |
1,411 |
1,383 |
2.0 |
3,426 | |||
Earnings per share/ADSc, basic/diluted (€) |
0.12 |
0.09 |
33.3 |
(0.14) |
0.30 |
n.a. |
0.34 | |||
Cash capexd |
(2,211) |
(1,837) |
(20.4) |
(4,822) |
(3,629) |
(32.9) |
(8,707) | |||
Net cash from operating activities |
3,512 |
3,682 |
(4.6) |
6,478 |
7,013 |
(7.6) |
15,368 | |||
Free cash flow (before dividend payments)e |
1,404 |
1,963 |
(28.5) |
1,820 |
3,592 |
(49.3) |
7,033 | |||
Equity ratiof |
(%) |
- |
- |
31.2 |
33.6 |
32.3 | ||||
Net debte |
- |
- |
44,966 |
40,559 |
10.9 |
38,158 | ||||
June 30, 2009 |
Mar. 31, 2009 |
Change
June 30, 2009/
Mar. 31, 2009
% |
Dec. 31, 2008 |
Change
June 30, 2009/
Dec. 31, 2008
% |
June 30, 2008 |
Change
June 30, 2009/
June 30, 2008
% | |
Deutsche Telekom Group |
261,373 |
260,798 |
0.2 |
227,747 |
14.8 |
235,794 |
10.8 |
Non-civil servants |
229,990 |
228,928 |
0.5 |
195,634 |
17.6 |
202,151 |
13.8 |
Civil servants (Germany) |
31,383 |
31,870 |
(1.5) |
32,113 |
(2.3) |
33,643 |
(6.7) |
June 30, 2009 |
Mar. 31, 2009 |
Change
June 30, 2009/
Mar. 31, 2009
% |
Dec. 31, 2008 |
Change
June 30, 2009/
Dec. 31, 2008
% |
June 30, 2008 |
Change
June 30, 2009/
June 30, 2008
% | ||
Fixed-network linesg,h |
(millions) |
39.6 |
40.3 |
(1.7) |
41.1 |
(3.6) |
42.8 |
(7.5) |
Broadband linesi,h |
(millions) |
17.2 |
17.0 |
1.2 |
16.7 |
3.0 |
16.0 |
7.5 |
Mobile customersj |
(millions) |
149.8 |
148.4 |
0.9 |
147.6 |
1.5 |
141.8 |
5.6 |
|
b |
Deutsche Telekom defines EBITDA as profit/loss from operations before depreciation, amortization and impairment losses. |
|
c |
One ADS (American Depositary Share) corresponds to one ordinary share of Deutsche Telekom AG. |
|
d |
Investments in property, plant and equipment, and intangible assets (excluding goodwill) as shown in the cash flow statement. |
|
e |
For detailed information and calculations, please refer to “Reconciliation of pro forma figures,” page 66 et seq. |
|
f |
Based on shareholders’ equity excluding amounts earmarked for dividend payments, which are treated as current liabilities. |
|
g |
Lines in operation. Telephone lines excluding internal use and public telecommunications, including wholesale services. Approximately 160,000 business customers have been included in the Broadband/Fixed Network operating segment since January 1, 2009. The presentation of the number of lines has been adjusted to reflect the business model of the Broadband/Fixed Network operating segment. For the purposes of equal treatment,
internal use by the Systems Solutions segment is no longer included in the presentation of the number of lines. Prior-year figures have been adjusted accordingly. |
|
h |
From February 2009, the fixed-network business of OTE Greece and Romtelecom (Romania) is included in the Broadband/Fixed-Network operating segment. Prior-year figures have been adjusted on a pro forma basis. |
|
i |
Broadband lines in operation, including Germany and Southern and Eastern Europe. |
|
j |
Number of customers of the fully consolidated mobile communications companies of the Mobile Communications Europe (including Virgin Mobile) and Mobile Communications USA segments. From February 2009, the mobile communications business of COSMOTE (entity of the OTE group) in Greece, Romania, Bulgaria and Albania is included in the Mobile Communications Europe operating segment. Prior-year figures have been adjusted on
a pro forma basis. |
|
Net revenue of the Group increased by 6.8 percent year-on-year in the first half of 2009 to EUR 32.1 billion. |
|
Domestic net revenue amounted to EUR 13.8 billion, less than in the first half of 2008. International net revenue increased year-on-year from EUR 15.7 billion to EUR 18.4 billion and the proportion of net revenue generated outside Germany increased from 52.0 percent to 57.2 percent. |
|
Group EBITDA in the first half of 2009 amounted to EUR 10.0 billion compared with EUR 9.5 billion in the prior-year period. Group EBITDA adjusted for special factors1 increased year-on-year from EUR 9.5 billion to EUR 10.1 billion. |
|
Net loss amounted to EUR 0.6 billion in the first half of 2009, compared with a net profit of EUR 1.3 billion in the first half |
|
of 2008. |
|
Net profit adjusted for special factors1 amounted to EUR 1.4 billion, slightly higher than in the first half of 2008. |
|
Free cash flow2 before dividend payments was at EUR 1.8 billion compared with EUR 3.6 billion in the first half of 2008. |
|
Net debt3 increased by EUR 6.8 billion compared with the end of 2008 to EUR 45.0 billion. Net debt increased by |
|
EUR 4.3 billion due to the first-time full consolidation of OTE. |
|
1 |
For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, special factors affecting profit/loss after income taxes and adjusted net profit, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
2 |
For the calculation of free cash flow, please refer to “Reconciliation of pro forma figures,” page 66. |
|
3 |
For detailed information and calculations, please refer to “Reconciliation of pro forma figures,” page 67. |
June 30, 2009 |
June 30, 2008 |
Dec. 31, 2008 | |||
Xetra closing prices |
(€) |
||||
Exchange price at the balance sheet date |
8.40 |
10.40 |
10.75 | ||
High (in the first six months) |
11.39 |
15.55 |
11.87 | ||
Low (in the first six months) |
7.93 |
10.02 |
9.00 | ||
Weighting of the T-Share in major stock indexes |
|||||
DAX 30 |
(%) |
5.9 |
5.1 |
7.2 | |
Dow Jones Europe STOXX Telecommunications© |
(%) |
9.1 |
8.9 |
10.8 | |
Market capitalization |
(billions of €) |
36.5 |
45.4 |
46.9 | |
Shares issued |
(millions) |
4,361.32 |
4,361.32 |
4,361.32 | |
|
On April 29, 2009, the Supervisory Board of Deutsche Telekom AG approved the more regional and integrated structure of the Company for the initiated restructuring of its business in Germany, the continuation of the course established in the fall of 2006 with integrated sales and customer service in Germany. Subject to approval by the shareholders and financial authorities, the new structure will be achieved in two stages: |
§ |
T-Mobile International AG was merged into Deutsche Telekom AG effective July 6, 2009. T-Mobile Deutschland GmbH has thus become a direct subsidiary of Deutsche Telekom AG. |
§ |
T-Home and T-Mobile Deutschland GmbH are then to be merged to form a single company which will be a wholly-owned subsidiary of Deutsche Telekom AG. |
|
An extraordinary shareholders’ meeting will be called in late fall of this year in order to gain the approval of shareholders, after which the new structure will be quickly implemented. The three service companies (Deutsche Telekom Kundenservice GmbH, Deutsche Telekom Technischer Service GmbH, and Deutsche Telekom Netzproduktion GmbH) and Telekom Shop Vertriebsgesellschaft mbH will then become wholly-owned subsidiaries
of the new company for German operations. |
|
Deutsche Telekom again issued a benchmark bond through its financing arm Deutsche Telekom International Finance B.V. in the second quarter of 2009 – a U.S. dollar bond for USD 1.5 billion on June 22, 2009. The five-year tranche has a coupon of 4.875 percent, the ten-year tranche a coupon of 6 percent. |
|
In addition, several medium-term notes were issued in the second quarter of 2009. On April 9, 2009, Deutsche Telekom issued a 13-year medium-term note in the amount of GBP 700 million (pounds sterling) with a coupon of 6.5 percent through Deutsche Telekom International Finance B.V. On April 22, 2009, Deutsche Telekom AG also issued a five-year medium-term note in the amount of CHF 400 million
(Swiss Franc) with a coupon of 3.75 percent. Furthermore, euro medium-term notes with a total volume of EUR 600 million and terms of five to eight years were issued through Deutsche Telekom International Finance B.V. |
|
On April 23, 2009, Fitch Ratings lowered Deutsche Telekom’s long-term rating by one notch from A- to BBB+. The outlook changed from negative to stable. The short-term rating was confirmed at F-2. |
|
In the Group’s domestic companies, socially responsible measures were used to reduce staff numbers further in the first half of 2009, essentially by means of voluntary redundancies, partial and early retirement, and employment opportunities for civil servants and employees offered by Vivento, especially in the public sector. 1,900 staff have already been recruited as part of the 3,500 or so planned new hires,
of which 740 are professionals and 1,160 junior staff. |
|
In the fourth round of negotiations Telekom Shop Vertriebsgesellschaft (TSG) and the service trade union ver.di reached an accord on a collective agreement for the 5,000 or so employees of TSG on June 9, 2009. After a three-month salary freeze, salaries for all employees subject to collective agreements will increase by 2.5 percent from August 2009 and by another 1.8 percent from May 2010. For May to
July 2009, the percentage increases will be realized through a one-time payment calculated from each individual’s annual target salary. The new collective agreement has a term of 24 months. Junior sales assistants will receive an additional 1 percent raise from August 2009, i.e., 3.5 percent overall. From May 2010, they will also receive approximately 1 percent on top of the 1.8 percent raise. The specific provision for junior sales assistants sends out a clear signal for TSG employees
in the entry-level wage group, which now accounts for almost one third of the sales force. |
|
In a readers’ survey by Europe’s largest trade journal, connect, Deutsche Telekom came out on top in seven categories: mobile network operator, triple play, DSL and telephone, mobile data flat rate, mobile portals, mobile discount and prepaid cards. T-Mobile, for instance, was rated the best network for the tenth time in a row. Deutsche Telekom’s IPTV service came out winner in comparative tests by
Computer Bild magazine and Stiftung Warentest, the German consumer testing organization, for example. A survey by the Internet portal www.pcwelt.de of around 1,600 users found that T-Home has the best customer service of all DSL providers. The criteria included telephone hotline quality, e-mail support, fault clearance service, and cost. T-Home was awarded a score of 2.2, the best mark received by any provider, for its customer service (1 being the highest mark possible). |
|
The COSMOTE group has signed an agreement in Bucharest for the takeover of Telemobil S.A (Zapp). The enterprise value, and therefore the value of the Zapp shares, is estimated at around EUR 61 million. COSMOTE will also take over the financial and other liabilities of Zapp, estimated at EUR 146 million and mainly relating to the roll-out of the 3G and CDMA networks. Zapp is the oldest mobile communications
provider in the Romanian market. The 3G network currently covers 23 cities in Romania. Zapp generated revenue of EUR 61 million in 2008 with over 374,000 contract customers. The takeover is subject to approval from the relevant Romanian authorities. |
|
The Family calling plan launched on the German market in May 2009 is the first to integrate mobile communications and fixed network. It is ideally tailored to families as a target group and offers a good value flat rate. Family members with up to four cell phones and a fixed-network line can make unlimited calls to each other. |
|
In Croatia, T-Mobile and T-Com jointly launched the Full Internet Tariff product in May 2009, which integrates fixed-network DSL and access to the mobile Internet through HotSpots, giving customers unlimited access to the Internet. |
|
Having acquired a UMTS license in December 2008, T-Mobile Macedonia began to offer its customers 3G applications in June 2009. In the first phase, larger cities have access to the 3G network. |
|
T-Mobile Austria was the first Austrian mobile communications operator to test the next-generation mobile network (NGMN) in a showcase using Long-Term Evolution (LTE), in cooperation with Huawei. |
|
In June 2009, T-Mobile exclusively launched the successor model of the thriving Apple iPhone 3G – the iPhone 3G S – in Germany, the Netherlands and Austria. The iPhone 3G S is expected to go on sale in other countries, including countries in which COSMOTE mobile communications companies operate, in the third quarter of 2009. |
|
Since the beginning of June 2009 the T-Mobile Jukebox has given music lovers in Germany and Austria access to around two million songs. The removal of all copy protection means T-Mobile customers can now download the songs without worrying about digital rights management. T-Mobile reached agreements to this effect with virtually all major record companies and key independent labels. |
|
With CompanyConnect 10M, Deutsche Telekom is providing its business customers throughout Germany with a professional Internet link over existing copper lines that features symmetrical transmission rates of up to 10 Mbit/s. This is around five times faster that the fastest previous CompanyConnect connection using copper lines. CompanyConnect 10M is ideal for business customers in regions that are not served by fiber
networks, for example. |
|
The service package, which was launched in April 2009, has been well received by customers. For a low monthly flat rate customers receive the latest terminal equipment and a comprehensive service package, including software updates, remote maintenance and installation support. Deutsche Kundenservice GmbH (DTKS), the Telekom shops and the Telekom online shop have recorded more than 20,000 bookings per week. |
|
Deutsche Telekom greatly expands content range. |
|
Videoload has been offering VideoloadFree since the beginning of June 2009, a free service that is financed by automated, dynamically integrated advertising. |
|
The market leader Softwareload has been available to customers in Switzerland and Austria since April 2009. |
|
The Internet portal wer-kennt-wen.de, one of the largest social networking sites on the German-speaking Internet, began offering its more than six million community members music to download in cooperation with Musicload in June 2009. |
|
MAN AG signed a seven-year agreement with T-Systems in June 2009 to transfer IT services from MAN IT Services GmbH to T-Systems from July 1, 2009. T-Systems will be responsible for central services, such as networks and computing centers. T-Systems will operate the MAN group’s computing centers and the corporate network. The wide area network connects 400 sites in 23 countries. Deutsche Telekom’s corporate
customer subsidiary has been engaged to consolidate the IT infrastructure. To this end, T-Systems is transferring all services into two separate high-security computing centers in Munich, which will from now on provide the MAN group with all IT services, as required. T-Systems’ Dynamic Services will adjust bandwidths, computing power and data storage capacity to MAN’s business development. |
|
Brenntag, one of the world’s leading chemical distribution enterprises, has commissioned T-Systems to develop its international network. To expand its footprint, Brenntag will use information and communication technology services from the Deutsche Telekom subsidiary in Singapore, Thailand, India, Australia, Taiwan, Malaysia, Indonesia, Vietnam and the Philippines for the next three years. The IT-based corporate
network will manage Brenntag’s communication activities in the Asia-Pacific region. Under the new agreement, Brenntag Asia Pacific is also procuring SAP services dynamically and on demand. T‑Systems will also operate Brenntag’s software systems, in line with its core business. |
|
T-Systems is boosting its business in Spain and Portugal with its acquisition of the Spanish IT service provider Metrolico from Lico Corporation. Deutsche Telekom’s systems arm is planning to reach third place among the ICT service providers on the Iberian peninsula by 2010. The acquisition is a milestone along that path. Metrolico has an excellent position in the Iberian market in the fields of infrastructure
management, maintenance and technical support. A major focus of Metrolico’s business activities lies in the Spanish financial sector. |
|
Improve competitiveness in Germany and in Southern and Eastern Europe |
|
Grow abroad with mobile communications |
|
Mobilize the Internet |
|
Roll out network-centric ICT |
Q1
2009
millions of € |
Q2
2009
millions of € |
Q2
2008
millions of € |
Change
% |
H1
2009
millions of € |
H1
2008
millions of € |
Change
% |
FY
2008
millions
of € | |
Net revenue |
15,902 |
16,238 |
15,125 |
7.4 |
32,140 |
30,103 |
6.8 |
61,666 |
Mobile Communications Europea,b |
5,077 |
5,500 |
5,187 |
6.0 |
10,577 |
10,179 |
3.9 |
20,663 |
Mobile Communications USAa |
4,137 |
3,918 |
3,498 |
12.0 |
8,055 |
6,959 |
15.7 |
14,957 |
Broadband/Fixed Networka,b, c |
5,882 |
6,063 |
5,561 |
9.0 |
11,945 |
11,238 |
6.3 |
22,501 |
Systems Solutionsa,c |
2,106 |
2,179 |
2,251 |
(3.2) |
4,285 |
4,451 |
(3.7) |
9,343 |
Group Headquarters &
Shared Servicesa,b |
878 |
877 |
915 |
(4.2) |
1,755 |
1,799 |
(2.4) |
3,573 |
Intersegment revenued |
(2,178) |
(2,299) |
(2,287) |
(0.5) |
(4,477) |
(4,523) |
1.0 |
(9,371) |
|
a |
Total revenue (including revenue between operating segments). |
|
b |
Including first-time full consolidation of OTE from the beginning of February 2009 in the Mobile Communications Europe, Broadband/Fixed Network and Group Headquarters & Shared Services operating segments. For detailed information, please refer to the interim consolidated financial statements. |
|
c |
As of January 1, 2009, approximately 160,000 business customers in Germany were transferred from the Systems Solutions operating segment (until December 31, 2008 called the Business Customers operating segment) to the Broadband/Fixed Network operating segment. Prior-year figures have been adjusted accordingly. |
|
d |
Elimination of revenue between operating segments. |
H1
2009
millions of € |
Proportion of net revenue of the Group
% |
H1
2008
millions of € |
Proportion of net revenue of the Group
% |
Change
millions
of € |
Change
% |
FY
2008
millions
of € | |
Net revenue |
32,140 |
100.0 |
30,103 |
100.0 |
2,037 |
6.8 |
61,666 |
Mobile Communications Europea |
10,201 |
31.8 |
9,850 |
32.7 |
351 |
3.6 |
19,978 |
Mobile Communications USA |
8,047 |
25.0 |
6,953 |
23.1 |
1,094 |
15.7 |
14,942 |
Broadband/Fixed Networka,b |
10,618 |
33.0 |
9,954 |
33.1 |
664 |
6.7 |
19,779 |
Systems Solutionsb |
2,998 |
9.3 |
3,042 |
10.1 |
(44) |
(1.4) |
6,368 |
Group Headquarters & Shared Servicesa |
276 |
0.9 |
304 |
1.0 |
(28) |
(9.2) |
599 |
|
a |
Including first-time full consolidation of OTE from the beginning of February 2009 in the Mobile Communications Europe, Broadband/Fixed Network and Group Headquarters & Shared Services operating segments. For detailed information, please refer to the interim consolidated financial statements. |
|
b |
As of January 1, 2009, approximately 160,000 business customers in Germany were transferred from the Systems Solutions operating segment (until December 31, 2008 called the Business Customers operating segment) to the Broadband/Fixed Network operating segment. Prior-year figures have been adjusted accordingly. |
Q1
2009
millions
of € |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Net revenue |
15,902 |
16,238 |
15,125 |
7.4 |
32,140 |
30,103 |
6.8 |
61,666 |
Domestic |
6,943 |
6,817 |
7,184 |
(5.1) |
13,760 |
14,438 |
(4.7) |
28,885 |
International |
8,959 |
9,421 |
7,941 |
18.6 |
18,380 |
15,665 |
17.3 |
32,781 |
Proportion generated
internationally (%) |
56.3 |
58.0 |
52.5 |
57.2 |
52.0 |
53.2 | ||
Europe (excluding Germany) |
4,684 |
5,363 |
4,318 |
24.2 |
10,047 |
8,462 |
18.7 |
17,324 |
North America |
4,148 |
3,928 |
3,497 |
12.3 |
8,076 |
6,957 |
16.1 |
14,931 |
Other |
127 |
130 |
126 |
3.2 |
257 |
246 |
4.5 |
526 |
Q1
2009
millions
of € |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
EBITa in the Group |
244 |
2,012 |
1,868 |
7.7 |
2,256 |
4,166 |
(45.8) |
7,040 |
Mobile Communications Europeb |
(1,166) |
917 |
861 |
6.5 |
(249) |
1,620 |
n.a. |
3,188 |
Mobile Communications USA |
530 |
654 |
584 |
12.0 |
1,184 |
1,086 |
9.0 |
2,299 |
Broadband/Fixed Networkb,c |
1,170 |
760 |
819 |
(7.2) |
1,930 |
1,708 |
13.0 |
2,759 |
Systems Solutionsc |
11 |
27 |
(65) |
n.a. |
38 |
418 |
(90.9) |
81 |
Group Headquarters &
Shared Servicesb |
(269) |
(280) |
(305) |
8.2 |
(549) |
(582) |
5.7 |
(1,198) |
Reconciliation |
(32) |
(66) |
(26) |
n.a. |
(98) |
(84) |
(16.7) |
(89) |
|
EBIT is profit/loss from operations as shown in the income statement. |
|
b |
Including first-time full consolidation of OTE from February 2009 in the Mobile Communications Europe, Broadband/Fixed Network and Group Headquarters & Shared Services operating segments. For detailed information, please refer to the interim consolidated financial statements. |
|
c |
As of January 1, 2009, approximately 160,000 business customers in Germany were transferred from the Systems Solutions operating segment (until December 31, 2008 called the Business Customers operating segment) to the Broadband/Fixed Network operating segment. Prior-year figures have been adjusted accordingly. |
Q1
2009
millions of € |
Q2
2009
millions of € |
Q2
2008
millions of € |
Change
% |
H1
2009
millions of € |
H1
2008
millions of € |
Change
% |
FY
2008
millions
of € | |
Adjusted EBITDAa,b in the Group |
4,812 |
5,258 |
4,850 |
8.4 |
10,070 |
9,536 |
5.6 |
19,459 |
Mobile Communications Europeb |
1,551 |
1,909 |
1,813 |
5.3 |
3,460 |
3,511 |
(1.5) |
7,160 |
Mobile Communications USA |
1,061 |
1,176 |
1,030 |
14.2 |
2,237 |
1,996 |
12.1 |
4,240 |
Broadband/Fixed Networkb, c |
2,010 |
2,056 |
1,892 |
8.7 |
4,066 |
3,784 |
7.5 |
7,385 |
Systems Solutionsc |
211 |
231 |
188 |
22.9 |
442 |
392 |
12.8 |
826 |
Group Headquarters &
Shared Servicesb |
20 |
(37) |
(40) |
7.5 |
(17) |
(65) |
73.8 |
(31) |
Reconciliation |
(41) |
(77) |
(33) |
n.a. |
(118) |
(82) |
(43.9) |
(121) |
|
a |
Deutsche Telekom defines EBITDA as profit/loss from operations before depreciation, amortization and impairment losses. For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, and the adjusted EBITDA margin, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
b |
Including first-time full consolidation of OTE from February 2009 in the Mobile Communications Europe, Broadband/Fixed Network and Group Headquarters & Shared Services operating segments. For detailed information, please refer to the interim consolidated financial statements. |
|
c |
As of January 1, 2009, approximately 160,000 business customers in Germany were transferred from the Systems Solutions operating segment (until December 31, 2008 called the Business Customers operating segment) to the Broadband/Fixed Network operating segment. Prior-year figures have been adjusted accordingly. |
Q1
2009
millions
of €a |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Cash generated from operations |
3,596 |
4,215 |
4,375 |
(3.7) |
7,811 |
8,143 |
(4.1) |
17,625 |
Interest received (paid) |
(630) |
(703) |
(693) |
(1.4) |
(1,333) |
(1,130) |
(18.0) |
(2,257) |
Net cash from operating activities |
2,966 |
3,512 |
3,682 |
(4.6) |
6,478 |
7,013 |
(7.6) |
15,368 |
Cash outflows for investments in in-tangible assets (excluding goodwill) and property, plant and equipment |
(2,611) |
(2,211) |
(1,837) |
(20.4) |
(4,822) |
(3,629) |
(32.9) |
(8,707) |
Free cash flow before proceeds from disposal of intangible assets (excluding goodwill) and property, plant and equipment |
355 |
1,301 |
1,845 |
(29.5) |
1,656 |
3,384 |
(51.1) |
6,661 |
Proceeds from disposal of intangi-ble assets (excluding goodwill) and property, plant and equipment |
61 |
103 |
118 |
(12.7) |
164 |
208 |
(21.2) |
372 |
Free cash flow before dividend paymentsb |
416 |
1,404 |
1,963 |
(28.5) |
1,820 |
3,592 |
(49.3) |
7,033 |
|
a |
Figures for the first quarter of 2009 have been adjusted. For explanations, please refer to “Selected explanatory notes/Accounting policies.” |
|
b |
For detailed information and calculations, please refer to “Reconciliation of pro forma figures,” page 66. |
June 30,
2009
millions of € |
Mar. 31,
2009
millions of € |
Change
June 30, 2009/
Mar. 31, 2009
% |
Dec. 31,
2008
millions of € |
Change
June 30, 2009/
Dec. 31, 2008
% |
June 30,
2008
millions of € |
Change
June 30, 2009/
June 30, 2008
% | |
Bonds |
43,157 |
39,659 |
8.8 |
34,302 |
25.8 |
32,249 |
33.8 |
Liabilities to banks |
4,806 |
4,670 |
2.9 |
4,222 |
13.8 |
7,415 |
(35.2) |
Liabilities to non-banks from promissory notes |
1,029 |
1,036 |
(0.7) |
887 |
16.0 |
738 |
39.4 |
Derivative financial liabilities |
752 |
755 |
(0.4) |
1,053 |
(28.6) |
1,339 |
(43.8) |
Lease liabilities |
1,965 |
1,987 |
(1.1) |
2,009 |
(2.2) |
2,056 |
(4.4) |
Other financial liabilities |
1,075 |
1,030 |
4.4 |
974 |
10.4 |
452 |
n.a. |
Gross debt |
52,784 |
49,137 |
7.4 |
43,447 |
21.5 |
44,249 |
19.3 |
Cash and cash equivalents |
5,836 |
4,113 |
41.9 |
3,026 |
92.9 |
1,954 |
n.a. |
Available-for-sale/held-for-trading
financial assets |
562 |
436 |
28.9 |
101 |
n.a. |
104 |
n.a. |
Derivative financial assets |
937 |
1,211 |
(22.6) |
1,598 |
(41.4) |
292 |
n.a. |
Other financial assets |
483 |
544 |
(11.2) |
564 |
(14.4) |
1,340 |
(64.0) |
Net debta |
44,966 |
42,833 |
5.0 |
38,158 |
17.8 |
40,559 |
10.9 |
|
a |
For detailed information and calculations, please refer to “Reconciliation of pro forma figures,” page 67. |
|
Mobile Communications Europe and Mobile Communications USA. |
June 30, 2009
millions |
Mar. 31,
2009
millions |
Change
June 30, 2009/
Mar. 31, 2009
% |
Dec. 31,
2008
millions |
Change
June 30, 2009/
Dec. 31, 2008
% |
June 30,
2008
millions |
Change
June 30, 2009/
June 30, 2008
% | |
Mobile Communications Europea |
116.3 |
115.3 |
0.9 |
114.9 |
1.2 |
110.3 |
5.4 |
T-Mobile Deutschlandb |
39.1 |
39.0 |
0.3 |
39.1 |
0.0 |
38.4 |
1.8 |
T-Mobile UKc |
16.6 |
16.7 |
(0.6) |
16.8 |
(1.2) |
16.8 |
(1.2) |
PTC (Poland) |
13.4 |
13.3 |
0.8 |
13.3 |
0.8 |
12.8 |
4.7 |
T-Mobile Netherlands (NL)d |
5.4 |
5.2 |
3.8 |
5.3 |
1.9 |
5.3 |
1.9 |
T-Mobile Austria (A) |
3.4 |
3.4 |
0.0 |
3.4 |
0.0 |
3.3 |
3.0 |
T-Mobile CZ (Czech Republic) |
5.4 |
5.4 |
0.0 |
5.4 |
0.0 |
5.3 |
1.9 |
T-Mobile Hungary |
5.3 |
5.3 |
0.0 |
5.4 |
(1.9) |
5.1 |
3.9 |
T-Mobile Croatia |
2.9 |
2.8 |
3.6 |
2.7 |
7.4 |
2.5 |
16.0 |
T-Mobile Slovensko (Slovakia) |
2.3 |
2.3 |
0.0 |
2.3 |
0.0 |
2.3 |
0.0 |
Othere |
1.9 |
1.9 |
0.0 |
1.9 |
0.0 |
1.7 |
11.8 |
COSMOTE Greece |
8.8 |
8.4 |
4.8 |
7.9 |
11.4 |
6.9 |
27.5 |
COSMOTE Romania |
6.3 |
6.1 |
3.3 |
5.9 |
6.8 |
4.6 |
37.0 |
COSMOTE Bulgaria |
4.0 |
4.0 |
0.0 |
4.1 |
(2.4) |
3.9 |
2.6 |
COSMOTE Albania |
1.5 |
1.4 |
7.1 |
1.4 |
7.1 |
1.3 |
15.4 |
Mobile Communications USAa |
33.5 |
33.2 |
0.9 |
32.8 |
2.1 |
31.5 |
6.3 |
Mobile customers (total)a |
149.8 |
148.4 |
0.9 |
147.6 |
1.5 |
141.8 |
5.6 |
|
a |
One mobile communications card corresponds to one customer. The total was calculated on the basis of precise figures and rounded to millions. Percentages are calculated on the basis of figures shown. Organic customer growth is reported for better comparability: Customers of COSMOTE (entity of the OTE group) were also included in the historic customer base. |
|
b |
Due to various rulings on the expiry of prepaid credit and the limited validity of prepaid cards, T-Mobile Deutschland changed its terms of contract and therefore its deactivation policy in the first quarter of 2007 in favor of its prepay customers. These customers can now use their prepaid credit longer than before. As a result of the change in the terms of contract, prepaid contracts no longer end automatically, but
run for an unlimited duration and can be terminated by the customer at any time and by T-Mobile with one month’s notice. T-Mobile Deutschland reserves the right to make use of this right of termination and to deactivate cards in the system. |
|
c |
Including Virgin Mobile. |
|
d |
The consolidation of Online (formerly Orange Nederland Breedband B.V.) in the second quarter of 2008 has no effect on the number of customers of the T-Mobile Netherlands group, as only mobile communications customers are shown. |
|
e |
“Other” includes T-Mobile Macedonia and T-Mobile Crna Gora (Montenegro). |
Q1
2009
millions
of € |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |||
Total revenuea |
5,077 |
5,500 |
5,187 |
6.0 |
10,577 |
10,179 |
3.9 |
20,663 | ||
Of which: T-Mobile Deutschland |
1,874 |
1,879 |
1,953 |
(3.8) |
3,753 |
3,837 |
(2.2) |
7,770 | ||
Of which: T-Mobile UK |
836 |
886 |
1,016 |
(12.8) |
1,722 |
2,074 |
(17.0) |
4,051 | ||
Of which: PTC |
416 |
440 |
580 |
(24.1) |
856 |
1,104 |
(22.5) |
2,260 | ||
Of which: T-Mobile NL |
444 |
465 |
447 |
4.0 |
909 |
863 |
5.3 |
1,806 | ||
Of which: T-Mobile A |
267 |
255 |
270 |
(5.6) |
522 |
544 |
(4.0) |
1,085 | ||
Of which: T-Mobile CZ |
275 |
310 |
332 |
(6.6) |
585 |
643 |
(9.0) |
1,329 | ||
Of which: T-Mobile Hungary |
218 |
235 |
282 |
(16.7) |
453 |
540 |
(16.1) |
1,117 | ||
Of which: T-Mobile Croatia |
134 |
139 |
148 |
(6.1) |
273 |
277 |
(1.4) |
616 | ||
Of which: T-Mobile Slovensko |
140 |
141 |
141 |
0.0 |
281 |
269 |
4.5 |
571 | ||
Of which: Otherb |
55 |
61 |
64 |
(4.7) |
116 |
117 |
(0.9) |
248 | ||
Of which: COSMOTE Greecec |
286 |
506 |
- |
n.a. |
792 |
- |
n.a. |
- | ||
Of which: COSMOTE Romaniac |
77 |
96 |
- |
n.a. |
173 |
- |
n.a. |
- | ||
Of which: COSMOTE Bulgariac |
81 |
104 |
- |
n.a. |
185 |
- |
n.a. |
- | ||
Of which: COSMOTE Albania |
26 |
36 |
- |
n.a. |
62 |
- |
n.a. |
- | ||
EBIT (profit (loss) from operations)d |
(1,166) |
917 |
861 |
6.5 |
(249) |
1,620 |
n.a. |
3,188 | ||
EBIT margin |
(%) |
(23.0) |
16.7 |
16.6 |
(2.4) |
15.9 |
15.4 | |||
Depreciation, amortization and impairment lossesd |
(2,711) |
(992) |
(941) |
(5.4) |
(3,703) |
(1,881) |
(96.9) |
(3,875) | ||
EBITDAe |
1,545 |
1,909 |
1,802 |
5.9 |
3,454 |
3,501 |
(1.3) |
7,063 | ||
Special factors affecting EBITDAe |
(6) |
0 |
(11) |
n.a. |
(6) |
(10) |
40.0 |
(97) | ||
Adjusted EBITDAa,e |
1,551 |
1,909 |
1,813 |
5.3 |
3,460 |
3,511 |
(1.5) |
7,160 | ||
Of which: T-Mobile Deutschland |
685 |
720 |
773 |
(6.9) |
1,405 |
1,465 |
(4.1) |
3,028 | ||
Of which: T-Mobile UK |
113 |
153 |
196 |
(21.9) |
266 |
426 |
(37.6) |
888 | ||
Of which: PTC |
110 |
170 |
214 |
(20.6) |
280 |
398 |
(29.6) |
785 | ||
Of which: T-Mobile NL |
64 |
103 |
114 |
(9.6) |
167 |
176 |
(5.1) |
352 | ||
Of which: T-Mobile A |
53 |
70 |
65 |
7.7 |
123 |
141 |
(12.8) |
285 | ||
Of which: T-Mobile CZ |
127 |
181 |
158 |
14.6 |
308 |
316 |
(2.5) |
634 | ||
Of which: T-Mobile Hungary |
95 |
104 |
133 |
(21.8) |
199 |
245 |
(18.8) |
481 | ||
Of which: T-Mobile Croatia |
57 |
64 |
64 |
0.0 |
121 |
117 |
3.4 |
271 | ||
Of which: T-Mobile Slovensko |
68 |
69 |
68 |
1.5 |
137 |
129 |
6.2 |
230 | ||
Of which: Otherb |
26 |
30 |
31 |
(3.2) |
56 |
55 |
1.8 |
114 | ||
Of which: COSMOTE Greecec |
99 |
178 |
- |
n.a. |
277 |
- |
n.a. |
- | ||
Of which: COSMOTE Romaniac |
13 |
14 |
- |
n.a. |
27 |
- |
n.a. |
- | ||
Of which: COSMOTE Bulgariac |
27 |
47 |
- |
n.a. |
74 |
- |
n.a. |
- | ||
Of which: COSMOTE Albania |
16 |
21 |
- |
n.a. |
37 |
- |
n.a. |
- | ||
Adjusted EBITDA margine |
(%) |
30.5 |
34.7 |
35.0 |
32.7 |
34.5 |
34.7 | |||
Cash capexf |
(642) |
(395) |
(318) |
(24.2) |
(1,037) |
(789) |
(31.4) |
(1,897) | ||
Number of employeesg |
35,481 |
38,658 |
28,968 |
33.5 |
37,070 |
29,138 |
27.2 |
29,237 | ||
|
a |
The amounts stated for the national companies generally correspond to their respective unconsolidated financial statements without taking into consideration consolidation effects at operating segment level. In the presentation of the COSMOTE countries, the internal relationships between COSMOTE and the respective Germanos sales company in the country were eliminated. |
|
b |
“Other” includes revenues and EBITDA generated by T-Mobile Macedonia and T-Mobile Crna Gora (Montenegro). |
|
c |
Including the relevant Germanos (sales) companies in the Greek, Romanian, and Bulgarian markets. |
|
d |
Including an impairment loss of EUR 1.8 billion recognized on the goodwill of the cash generating unit T-Mobile UK in the first quarter of 2009. |
|
e |
Deutsche Telekom defines EBITDA as profit/loss from operations before depreciation, amortization and impairment losses. For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, and the adjusted EBITDA margin, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
f |
Investments in property, plant and equipment, and intangible assets (excluding goodwill) as shown in the cash flow statement. |
|
g |
Average number of employees. |
Q1
2009
millions of € |
Q2
2009
millions of € |
Q2
2008
millions of € |
Change
% |
H1
2009
millions of € |
H1
2008
millions of € |
Change
% |
FY
2008
millions
of € | |||
Total revenue |
4,137 |
3,918 |
3,498 |
12.0 |
8,055 |
6,959 |
15.7 |
14,957 | ||
EBIT (profit from operations) |
530 |
654 |
584 |
12.0 |
1,184 |
1,086 |
9.0 |
2,299 | ||
EBIT margin |
(%) |
12.8 |
16.7 |
16.7 |
14.7 |
15.6 |
15.4 | |||
Depreciation, amortization and impairment losses |
(531) |
(522) |
(430) |
(21.4) |
(1,053) |
(890) |
(18.3) |
(1,884) | ||
EBITDAa |
1,061 |
1,176 |
1,014 |
16.0 |
2,237 |
1,976 |
13.2 |
4,183 | ||
Special factors affecting EBITDAa |
- |
- |
(16) |
n.a. |
- |
(20) |
n.a. |
(57) | ||
Adjusted EBITDAa |
1,061 |
1,176 |
1,030 |
14.2 |
2,237 |
1,996 |
12.1 |
4,240 | ||
Adjusted EBITDA margina |
(%) |
25.6 |
30.0 |
29.4 |
27.8 |
28.7 |
28.3 | |||
Cash capexb |
(865) |
(785) |
(661) |
(18.8) |
(1,650) |
(1,141) |
(44.6) |
(2,540) | ||
Number of employeesc |
37,720 |
37,863 |
35,834 |
5.7 |
37,791 |
35,143 |
7.5 |
36,076 | ||
|
Including first-time consolidation of SunCom from February 22, 2008. |
|
a |
Deutsche Telekom defines EBITDA as profit/loss from operations excluding depreciation, amortization and impairment losses. For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, and the adjusted EBITDA margin, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
b |
Investments in property, plant and equipment, and intangible assets (excluding goodwill) as shown in the cash flow statement. |
|
c |
Average number of employees. |
Q1
2009
millions
of € |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | ||||
Total revenue |
9,206 |
9,413 |
8,678 |
8.5 |
18,619 |
17,123 |
8.7 |
35,586 | |||
EBIT (profit (loss) from operations)a |
(635) |
1,570 |
1,446 |
8.6 |
935 |
2,706 |
(65.4) |
5,487 | |||
EBIT margin |
(%) |
(6.9) |
16.7 |
16.7 |
5.0 |
15.8 |
15.4 | ||||
Depreciation, amortization and impairment lossesa |
(3,242) |
(1,514) |
(1,371) |
(10.4) |
(4,756) |
(2,771) |
(71.6) |
(5,759) | |||
EBITDAb |
2,607 |
3,084 |
2,817 |
9.5 |
5,691 |
5,477 |
3.9 |
11,246 | |||
Special factors affecting EBITDAb |
(6) |
0 |
(27) |
n.a. |
(6) |
(30) |
80.0 |
(154) | |||
Adjusted EBITDAb |
2,613 |
3,084 |
2,844 |
8.4 |
5,697 |
5,507 |
3.5 |
11,400 | |||
Adjusted EBITDA marginb |
(%) |
28.4 |
32.8 |
32.8 |
30.6 |
32.2 |
32.0 | ||||
Cash capexc |
(1,508) |
(1,180) |
(979) |
(20.5) |
(2,688) |
(1,930) |
(39.3) |
(4,437) | |||
Number of employeesd |
73,201 |
76,521 |
64,802 |
18.1 |
74,861 |
64,281 |
16.5 |
65,313 | |||
|
a |
Including an impairment loss of EUR 1.8 billion recognized on the goodwill of the cash generating unit T-Mobile UK in the first quarter of 2009. |
|
b |
Deutsche Telekom defines EBITDA as profit/loss from operations excluding depreciation, amortization and impairment losses. For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, and the adjusted EBITDA margin, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
c |
Investments in property, plant and equipment, and intangible assets (excluding goodwill) as shown in the cash flow statement. |
|
d |
Average number of employees. |
|
Broadband/Fixed Network. |
June 30,
2009
millions |
Mar. 31,
2009
millions |
Change
June 30, 2009/
Mar. 31, 2009
% |
Dec. 31,
2008
millions |
Change
June 30, 2009/
Dec. 31, 2008
% |
June 30,
2008
millions |
Change
June 30, 2009/
June 30, 2008
% | |
Broadband |
|||||||
Lines (total)a,c |
17.2 |
17.0 |
1.2 |
16.7 |
3.0 |
16.0 |
7.5 |
Of which: retail |
14.5 |
14.2 |
2.1 |
13.6 |
6.6 |
12.4 |
16.9 |
Domestica |
13.6 |
13.5 |
0.7 |
13.3 |
2.3 |
13.1 |
3.8 |
Of which: retail |
11.2 |
11.0 |
1.8 |
10.6 |
5.7 |
9.9 |
13.1 |
Internationala,c,d |
3.6 |
3.5 |
2.9 |
3.3 |
9.1 |
2.9 |
24.1 |
Of which: Magyar Telekom |
0.9 |
0.9 |
0.0 |
0.9 |
0.0 |
0.8 |
12.5 |
Of which: T-Hrvatski Telekom |
0.5 |
0.5 |
0.0 |
0.5 |
0.0 |
0.4 |
25.0 |
Of which: Slovak Telekom |
0.4 |
0.4 |
0.0 |
0.3 |
33.3 |
0.3 |
33.3 |
Of which: OTE Greecec |
1.0 |
1.0 |
0.0 |
1.0 |
0.0 |
0.9 |
11.1 |
Of which: Romtelecomc |
0.7 |
0.7 |
0.0 |
0.7 |
0.0 |
0.5 |
40.0 |
Fixed Network |
|||||||
Lines (total)a,b,c |
39.6 |
40.3 |
(1.7) |
41.1 |
(3.6) |
42.8 |
(7.5) |
Domestica,b |
27.2 |
27.7 |
(1.8) |
28.3 |
(3.9) |
29.5 |
(7.8) |
Internationala,c,d |
12.4 |
12.6 |
(1.6) |
12.8 |
(3.1) |
13.2 |
(6.1) |
Of which: Magyar Telekom |
2.5 |
2.5 |
0.0 |
2.6 |
(3.8) |
2.7 |
(7.4) |
Of which: T-Hrvatski Telekom |
1.5 |
1.5 |
0.0 |
1.6 |
(6.3) |
1.6 |
(6.3) |
Of which: Slovak Telekom |
1.1 |
1.1 |
0.0 |
1.1 |
0.0 |
1.1 |
0.0 |
Of which: OTE Greecec |
4.4 |
4.5 |
(2.2) |
4.6 |
(4.3) |
4.8 |
(8.3) |
Of which: Romtelecomc |
2.9 |
3.0 |
(3.3) |
3.0 |
(3.3) |
3.0 |
(3.3) |
Wholesale/resale |
|||||||
Resale/IP-BSAc,d,e |
2.2 |
2.5 |
(12.0) |
2.8 |
(21.4) |
3.5 |
(37.1) |
Of which: domestic |
2.0 |
2.2 |
(9.1) |
2.5 |
(20.0) |
3.2 |
(37.5) |
ULLsc,d,f |
9.6 |
9.4 |
2.1 |
9.0 |
6.7 |
8.0 |
20.0 |
Of which: domestic |
8.7 |
8.6 |
1.2 |
8.3 |
4.8 |
7.5 |
16.0 |
IP-BSA SAc,d,g |
0.5 |
0.3 |
66.7 |
0.2 |
n.a. |
- |
n.a. |
Of which: domestic |
0.4 |
0.3 |
33.3 |
0.2 |
n.a. |
- |
n.a. |
|
Totals were calculated on the basis of precise figures and rounded to millions. Percentages are calculated on the basis of figures shown. |
|
a |
Lines in operation excluding internal use and public telecommunications, including wholesale services. |
|
b |
As of January 1, 2009, approximately 160,000 business customers in Germany were transferred from the Systems Solutions operating segment to the Broadband/Fixed Network operating segment. The presentation of the number of lines has been adjusted to reflect the business model of the Broadband/Fixed Network operating segment. For the purposes of equal treatment, internal use by the Systems Solutions segment is no longer
included in the presentation of the number of lines. Prior-year figures have been adjusted accordingly. |
|
c |
From February 2009, the fixed-network business of OTE Greece and Romtelecom (Romania) is included in the Broadband/Fixed-Network operating segment. Prior-year figures have been adjusted on a pro forma basis. |
|
d |
International comprises Southern and Eastern Europe with T-Hrvatski Telekom, Slovak Telekom, and Magyar Telekom including the subsidiaries Makedonski Telekom AD and Crnogorski Telekom, as well as the fixed-network business of OTE Greece and Romtelecom that was consolidated from February 2009. |
|
e |
Definition of resale/bundled IP-BSA: Sale of broadband lines based on DSL technology to alternative providers outside the Deutsche Telekom Group including bundled IP-Bitstream Access. In the case of IP-BSA, Deutsche Telekom leases DSL lines to the competitor and transports the datastream carried over the lines via its concentrator network to the associated broadband point of presence where the datastream is handed over
to the competitor. |
|
f |
Unbundled local loop (ULL) lines in Germany and abroad: Wholesale service that can be leased by other telecommunications operators without upstream technical equipment in order to offer their own customers a telephone or DSL line. |
|
g |
Definition of IP-BSA Stand Alone (IP-BSA SA): A wholesale product not bundled with a Deutsche Telekom PSTN line, allowing competitors to offer an all-IP product range. |
Q1
2009
millions
of € |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | ||||
Total revenue |
5,882 |
6,063 |
5,561 |
9.0 |
11,945 |
11,238 |
6.3 |
22,501 | |||
Domestic |
4,836 |
4,745 |
4,998 |
(5.1) |
9,581 |
10,124 |
(5.4) |
20,226 | |||
Of which:
network communications |
1,512 |
1,440 |
1,709 |
(15.7) |
2,952 |
3,511 |
(15.9) |
6,737 | |||
Of which: IP/Internet |
1,445 |
1,482 |
1,370 |
8.2 |
2,927 |
2,702 |
8.3 |
5,531 | |||
Of which:
other fixed-network services |
319 |
302 |
338 |
(10.7) |
621 |
679 |
(8.5) |
1,391 | |||
Of which: wholesale services |
1,264 |
1,235 |
1,300 |
(5.0) |
2,499 |
2,654 |
(5.8) |
5,355 | |||
International |
1,063 |
1,343 |
575 |
n.a. |
2,406 |
1,139 |
n.a. |
2,329 | |||
EBIT (profit from operations) |
1,170 |
760 |
819 |
(7.2) |
1,930 |
1,708 |
13.0 |
2,759 | |||
EBIT margin |
(%) |
19.9 |
12.5 |
14.7 |
16.2 |
15.2 |
12.3 | ||||
Depreciation, amortization and impairment losses |
(1,005) |
(1,115) |
(890) |
(25.3) |
(2,120) |
(1,797) |
(18.0) |
(3,636) | |||
EBITDAa |
2,175 |
1,875 |
1,709 |
9.7 |
4,050 |
3,505 |
15.5 |
6,395 | |||
Special factors affecting EBITDAa |
165 |
(181) |
(183) |
1.1 |
(16) |
(279) |
94.3 |
(990) | |||
Adjusted EBITDAa |
2,010 |
2,056 |
1,892 |
8.7 |
4,066 |
3,784 |
7.5 |
7,385 | |||
Domestic |
1,612 |
1,584 |
1,645 |
(3.7) |
3,196 |
3,298 |
(3.1) |
6,417 | |||
International |
400 |
470 |
248 |
89.5 |
870 |
487 |
78.6 |
970 | |||
Adjusted EBITDA margina |
(%) |
34.2 |
33.9 |
34.0 |
34.0 |
33.7 |
32.8 | ||||
Domestic |
(%) |
33.3 |
33.4 |
32.9 |
33.4 |
32.6 |
31.7 | ||||
International |
(%) |
37.6 |
35.0 |
43.1 |
36.2 |
42.8 |
41.6 | ||||
Cash capexb |
(899) |
(796) |
(584) |
(36.3) |
(1,695) |
(1,211) |
(40.0) |
(3,150) | |||
Number of employeesc |
112,613 |
119,488 |
101,339 |
17.9 |
116,051 |
102,696 |
13.0 |
100,671 | |||
Domestic |
80,923 |
79,932 |
85,754 |
(6.8) |
80,428 |
86,995 |
(7.5) |
85,192 | |||
International |
31,690 |
39,556 |
15,585 |
n.a. |
35,623 |
15,701 |
n.a. |
15,479 | |||
|
a |
Deutsche Telekom defines EBITDA as profit/loss from operations excluding depreciation, amortization and impairment losses. For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, and the adjusted EBITDA margin, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
b |
Investments in property, plant and equipment, and intangible assets (excluding goodwill) as shown in the cash flow statement. |
|
c |
Average number of employees. |
|
Systems Solutions. |
June 30, 2009 |
Mar. 31, 2009 |
Change
June 30, 2009/
Mar. 31, 2009
% |
Dec. 31, 2008 |
Change
June 30, 2009/
Dec. 31, 2008
% |
June 30, 2008 |
Change
June 30, 2009/
June 30, 2008
% | ||
Computing & Desktop Services |
||||||||
Number of servers managed
and serviced (units) |
54,626 |
53,536 |
2.0 |
56,734 |
(3.7) |
41,618 |
31.3 | |
Number of workstations managed and serviced (millions) |
1.51 |
1.50 |
0.7 |
1.51 |
0.0 |
1.48 |
2.0 | |
Systems Integrationa |
||||||||
Hours billedb |
(millions) |
4.8 |
2.6 |
n.a. |
10.7 |
n.a. |
5.6 |
(14.3) |
Utilization ratec |
(%) |
80.7 |
80.6 |
0.1p |
80.9 |
(0.2)p |
80.3 |
0.4p |
|
Percentages calculated on the basis of figures shown. |
|
a |
Domestic: excluding changes in the composition of the Group. |
|
b |
Cumulative figures at the balance sheet date. |
|
c |
Ratio of average number of hours billed to maximum possible hours billed per period. |
Q1
2009
millions
of € |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | ||||
Total revenue |
2,106 |
2,179 |
2,251 |
(3.2) |
4,285 |
4,451 |
(3.7) |
9,343 | |||
Computing & Desktop Services |
900 |
933 |
886 |
5.3 |
1,833 |
1,784 |
2.7 |
3,877 | |||
Systems Integration |
400 |
404 |
447 |
(9.6) |
804 |
870 |
(7.6) |
1,741 | |||
Telecommunications |
806 |
842 |
918 |
(8.3) |
1,648 |
1,797 |
(8.3) |
3,725 | |||
EBITa (profit (loss) from operations) |
11 |
27 |
(65) |
n.a. |
38 |
418 |
(90.9) |
81 | |||
Special factors affecting EBITa |
(23) |
(31) |
(58) |
46.6 |
(54) |
409 |
n.a. |
12 | |||
Adjusted EBITa |
34 |
58 |
(7) |
n.a. |
92 |
9 |
n.a. |
69 | |||
Adjusted EBIT margina |
(%) |
1.6 |
2.7 |
(0.3) |
2.1 |
0.2 |
0.7 | ||||
Depreciation, amortization and impairment losses |
(177) |
(173) |
(195) |
11.3 |
(350) |
(383) |
8.6 |
(781) | |||
EBITDAb |
188 |
200 |
130 |
53.8 |
388 |
801 |
(51.6) |
862 | |||
Special factors affecting EBITDAb |
(23) |
(31) |
(58) |
46.6 |
(54) |
409 |
n.a. |
36 | |||
Adjusted EBITDAb |
211 |
231 |
188 |
22.9 |
442 |
392 |
12.8 |
826 | |||
Adjusted EBITDA marginb |
(%) |
10.0 |
10.6 |
8.4 |
10.3 |
8.8 |
8.8 | ||||
Cash capexc |
(161) |
(171) |
(187) |
8.6 |
(332) |
(321) |
(3.4) |
(823) | |||
Number of employeesd |
44,449 |
44,863 |
45,745 |
(1.9) |
44,656 |
46,149 |
(3.2) |
46,095 | |||
|
a |
EBIT is profit/loss from operations as shown in the consolidated income statement. For a detailed explanation of the special factors affecting EBIT, adjusted EBIT, and the adjusted EBIT margin, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
b |
Deutsche Telekom defines EBITDA as profit/loss from operations excluding depreciation, amortization and impairment losses. For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, and the adjusted EBITDA margin, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
c |
Investments in property, plant and equipment, and intangible assets (excluding goodwill) as shown in the cash flow statement. |
|
d |
Average number of employees. |
|
Group Headquarters & Shared Services. |
Q1
2009
millions
of € |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |||||
Total revenue |
878 |
877 |
915 |
(4.2) |
1,755 |
1,799 |
(2.4) |
3,573 |
||||
EBIT (loss from operations) |
(269) |
(280) |
(305) |
8.2 |
(549) |
(582) |
5.7 |
(1,198) |
||||
EBIT margin |
(%) |
(30.6) |
(31.9) |
(33.3) |
(31.3) |
(32.4) |
(33.5) |
|||||
Depreciation, amortization and impairment losses |
(283) |
(224) |
(250) |
10.4 |
(507) |
(427) |
(18.7) |
(831) |
||||
EBITDAa |
14 |
(56) |
(55) |
(1.8) |
(42) |
(155) |
72.9 |
(367) |
||||
Special factors affecting EBITDAa |
(6) |
(19) |
(15) |
(26.7) |
(25) |
(90) |
72.2 |
(336) |
||||
Adjusted EBITDAa |
20 |
(37) |
(40) |
7.5 |
(17) |
(65) |
73.8 |
(31) |
||||
Adjusted EBITDA margina |
(%) |
2.3 |
(4.2) |
(4.4) |
(1.0) |
(3.6) |
(0.9) |
|||||
Cash capexb |
(108) |
(122) |
(100) |
(22.0) |
(230) |
(203) |
(13.3) |
(435) |
||||
Number of employeesc |
19,062 |
19,508 |
24,297 |
(19.7) |
19,285 |
24,017 |
(19.7) |
22,808 |
||||
Of which: at Viventod |
8,400 |
8,700 |
8,200 |
6.1 |
8,700 |
8,200 |
6.1 |
8,200 |
||||
|
a |
Deutsche Telekom defines EBITDA as profit/loss from operations excluding depreciation, amortization and impairment losses. For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, and the adjusted EBITDA margin, please refer to “Reconciliation of pro forma figures,” page 63 et seq. |
|
b |
Investments in property, plant and equipment, and intangible assets (excluding goodwill) as shown in the cash flow statement. |
|
c |
Average number of employees. |
|
d |
Number of employees at the balance sheet date, including Vivento’s own staff and management; figures rounded. |
|
Although the decline in global economic activity slowed noticeably in the last few months, there is no sign of a significant economic revival as yet. Negative effects on Deutsche Telekom’s sales figures, revenue and results still cannot be ruled out. In the fixed network, increased price sensitivity and a greater willingness to switch providers may have a negative impact on the achievement of the Company’s
operating targets. On top of this, the number of small and medium-sized business customers could fall as a result of insolvencies and investment scale-backs. The risks for Deutsche Telekom in mobile communications include difficulties in attracting new high-value customers and an increased willingness among customers to switch providers (downgrading, churn). Risks also arise from a change in consumer behavior (e.g. keeping to minute budgets, purchasing less expensive terminal equipment or delaying purchases).
Budgets are generally falling in the market for systems solutions, which may lead to the postponement of capital expenditure projects and/or further shrinking margins in the project business. |
|
With the exception of investments in Southern and Eastern Europe, the financial market crisis is not giving rise to any significant direct risks for Deutsche Telekom at the moment because investments are currently only very short term and involve a diversified group of counterparties. Risky investments by subsidiaries in Southern and Eastern Europe exist on account of transfer restrictions or shareholder resolutions.
Investments – mostly deposited with various Greek banks – were taken over as part of the consolidation of OTE, with some already shifted to prime-rated government bonds and to the Group’s core banks of good financial standing. The situation on the international financial markets has eased up, at least temporarily, since the end of last year. The first half of 2009 was marked by substantial new issuances. By the end of June 2009, Deutsche Telekom had raised debt capital of just under EUR 5
billion in various markets. |
|
On October 31, 2006, satellite operator Eutelsat S.A. filed an action against Deutsche Telekom and T-Systems Business Services GmbH for damages of EUR 142 million due to an alleged breach of contract with the Paris Commercial Court, which dismissed the action. Eutelsat unsuccessfully appealed this decision, but Eutelsat did not file any further appeals by the deadline of April 10, 2009. Hence the matter is
closed before the ordinary jurisdiction. |
|
On July 10, 2009, the Hellenic Republic irrevocably notified Deutsche Telekom of its intent to exercise the first of two put options granted to the Hellenic Republic by Deutsche Telekom under the terms of the Hellenic Republic stock purchase agreement. Pursuant to the terms of the first put option, Deutsche Telekom will acquire 24,507,519 shares of Hellenic Telecommunications Organization S.A. (OTE), the first put shares,
on July 31, 2009. As a result of the exercise of the first put option, Deutsche Telekom now beneficially owns 147,045,118 shares of OTE, representing 30 percent plus one share of the outstanding capital of OTE. |
|
The board of directors of OTE is currently comprised of ten members, five nominees of DTAG and five nominees of the Hellenic Republic, following the resignation of Dr. Martin Walter, one of Deutsche Telekom’s nominees to the board of directors of OTE. Kevin Copp became the Group Chief Financial Officer of OTE effective August 1, 2009 and will remain a board member. |
|
The merger of Deutsche Telekom AG, the absorbing company, and T-Mobile International AG was put forward for entry in the commercial register at the respective headquarters of the companies on July 1, 2009. The merger became effective upon entry in the commercial register on July 6, 2009. All assets, liabilities, rights, and obligations of T-Mobile International AG have been transferred to Deutsche Telekom AG.
T-Mobile International AG ceased to exist when the merger was entered in the Commercial Register. |
|
The Supervisory Board of Deutsche Telekom AG approved the pooling of Southern and Eastern European business within a dedicated Board of Management department in February 2009. Mr. Guido Kerkhoff was appointed to the Board of Management effective March 1, 2009 and took over this newly created department. Another key point was the establishment of the Chief Operating Officer’s (COO) department which brings together
the functions of products and innovation, IT and technology as well as procurement. This department has been headed by Mr. Hamid Akhavan since July 1, 2009. |
|
Since July 1, 2009 the operating segments have been organized according to the realigned management structure approved by the Supervisory Board on April 29, 2009. Compared with the previous organization, the new structure increases regional market responsibility in the combined fixed-network and mobile communications business and supports functional integration of operations. Four functional and three regional decision-making
boards below Board of Management level form an essential interface between the regional and functional areas of responsibility of the Board of Management members. The realignment also results in a change of the future structure of the operating segments from July 1, 2009. In future, Deutsche Telekom will report on the operating segments Germany, USA, Europe, Southern and Eastern Europe, Systems Solutions, and on Group Headquarters & Shared Services. The Interim Group Report as of September 30, 2009 will reflect
this new segment structure for the first time. |
|
Against this background in particular, Deutsche Telekom continues to believe that regulation of the VDSL infrastructure is not necessary. The Federal Network Agency had, however, already decided two years ago that competitors must receive regulated access to cable ducts and dark fiber. It became apparent that this decision |
|
made commercial negotiations considerably more difficult, as competitors assumed that the Federal Network Agency would regulate the negotiated prices anyway. For this reason, Deutsche Telekom is now taking a proactive approach and submitting its proposal to the Agency. Competitors can thus themselves invest in expanding the broadband network using Deutsche Telekom's infrastructure. For access to the multi-functional
cabinets, the Deutsche Telekom Group intends to install additional housings for other providers next to its own distribution cabinets. |
|
LIGA total! will start on August 7, 2009 with live broadcasts of all games in the top two German soccer leagues. LIGA total! adds another high-quality channel to the program portfolio of Deutsche Telekom’s IPTV platform, Entertain. By making thorough use of the possibilities offered by IPTV and employing broadcasting technology in HD quality, LIGA total! sets new standards in sports broadcasting. Fans can
also follow all matches live on UMTS-enabled T-Mobile cell phones. Constantin Sport Medien AG is responsible for the editorial production of LIGA total!. |
|
The Croatian telecommunications provider T-Hrvatski Telekom (T-HT) is undergoing a strategic and organizational realignment. The Supervisory Board approved the Board of Management’s proposal to consolidate and merge T-Com and T-Mobile into a single business unit. T-HT, in which Deutsche Telekom holds a 51-percent stake, intends to maintain a leading role in the Croatian telecommunications market. The proposed
reorganization is to be completed by January 2010. The aim of the new structure is to be able to offer customers increasingly integrated solutions in the areas of sales, customer service, and product innovation as well as to strengthen marketing, sales, customer services, and operational processes. The move also allows the company to manage its fixed-network and mobile communications business more efficiently. In a first step to integrate the business operations of T-Com and T-Mobile, in the coming months T-HT
will realign the sales, marketing and customer service processes according to customer segments (consumers and business customers) and restructure the management teams. |
|
Deutsche Telekom AG has made a private placement in the amount of EUR 350 million with a 12-year term via its financing subsidiary, Deutsche Telekom International Finance B.V. |
|
T-Mobile is launching the Android-based T-Mobile G2 Touch in August 2009, initially in four European markets – Germany, the United Kingdom, the Netherlands and Austria. The T-Mobile G2 Touch is the follow-up model of the successful T-Mobile G1. Some Google services are preinstalled, additional applications are available for download from the Android marketplace. |
|
Mobile Communications USA has launched the new T-Mobile myTouch 3G handset, the follow-up to the T-Mobile G1. The T-Mobile myTouch 3G boasts an array of new features such as a touch-screen display with virtual keyboard and builds on its popular predecessor. |
|
At the beginning of July 2009, Deutsche Telekom concluded an agreement on wholesale VDSL with Vodafone and 1&1. Under the agreements, both parties may offer customers their own VDSL retail services. The wholesale service is also available to all other market participants. The price includes an integrated ‘success factor,’ i.e., the wholesale price drops depending on how many customers competitors and
Deutsche Telekom collectively gain. The agreed monthly entry price is EUR 25.36 for a 48-month contract term and EUR 26.28 for a 12-month contract term. These agreements show that market-based solutions are possible even without regulatory intervention. An agreement was concluded with EWE in mid-July 2009 on the further joint roll-out of the broadband network. |
|
From July 2009, more than 600 games will be available to download onto mobile handsets. This offering includes both chargeable full versions and many free or demo games. The range of mobile games will continue to grow and develop to keep up with the launch of new cell phone models and games. |
|
Komatsu has commissioned T-Systems to build an information and management system in South Africa so that it can view the whole picture instead of just individual divisions. The project will span Komatsu’s 39 locations in South Africa, Botswana, and Namibia, and is one of the largest of its kind in Southern Africa. |
|
4 |
Outlook – in particular the following forecasts for the development of revenue and profit - contains forward-looking statements that reflect management’s current views with respect to future events. Words such as “assume,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could,” “plan,”
“project,” “should,” “want” and similar expressions identify forward-looking statements. These forward-looking statements include statements on the expected development of net revenue, earnings, and personnel figures for 2009 and 2010. Such statements are subject to risks and uncertainties, such as an economic downturn in Europe or North America, changes in exchange and interest rates, the outcome of disputes in which Deutsche Telekom is involved, and competitive and regulatory
developments. Some uncertainties or other imponderabilities that might influence Deutsche Telekom’s ability to achieve its objectives, are described in the “Risk and opportunities management” section in the management report and in the “Forward Looking Statements” and “Risk Factors” sections in the Annual Report on Form 20-F and the disclaimer at the end of the Annual Report as well as in the chapter “Risks and opportunities” of this Interim Group Report.
Should these or other uncertainties and imponderabilities materialize or the assumptions underlying any of these statements prove incorrect, the actual results may be materially different from those expressed or implied by such statements. We do not guarantee that our forward-looking statements will prove correct. The forward-looking statements presented here are based on the current structure of the Group, without regard to significant acquisitions, dispositions or business combinations Deutsche Telekom may
choose to undertake. These statements are made with respect to conditions as of the date of this document’s publication. Without prejudice to existing obligations under capital market law, we do not intend or assume any obligation to update forward-looking statements. |
June 30, 2009
millions of € |
Dec. 31, 2008a
millions of € |
Change
millions of € |
Change
% |
June 30, 2008a
millions of € | |
Assets |
|||||
Current assets |
20,096 |
15,431 |
4,665 |
30.2 |
15,542 |
Cash and cash equivalents |
5,836 |
3,026 |
2,810 |
92.9 |
1,954 |
Trade and other receivables |
8,195 |
7,393 |
802 |
10.8 |
7,262 |
Current recoverable income taxes |
148 |
273 |
(125) |
(45.8) |
170 |
Other financial assets |
1,937 |
1,692 |
245 |
14.5 |
2,396 |
Inventories |
1,517 |
1,294 |
223 |
17.2 |
1,233 |
Non-current assets and disposal groups held for sale |
344 |
434 |
(90) |
(20.7) |
640 |
Other assets |
2,119 |
1,319 |
800 |
60.7 |
1,887 |
Non-current assets |
112,806 |
107,709 |
5,097 |
4.7 |
104,584 |
Intangible assets |
56,796 |
53,927 |
2,869 |
5.3 |
53,576 |
Property, plant and equipment |
47,671 |
41,559 |
6,112 |
14.7 |
41,005 |
Investments accounted for using the equity method |
150 |
3,557 |
(3,407) |
(95.8) |
2,632 |
Other financial assets |
1,707 |
1,863 |
(156) |
(8.4) |
711 |
Deferred tax assets |
5,866 |
6,234 |
(368) |
(5.9) |
6,172 |
Other assets |
616 |
569 |
47 |
8.3 |
488 |
Total assets |
132,902 |
123,140 |
9,762 |
7.9 |
120,126 |
Liabilities and shareholders’ equity |
|||||
Current liabilities |
28,819 |
24,242 |
4,577 |
18.9 |
24,107 |
Financial liabilities |
14,047 |
9,584 |
4,463 |
46.6 |
10,544 |
Trade and other payables |
7,033 |
7,073 |
(40) |
(0.6) |
5,942 |
Income tax liabilities |
448 |
585 |
(137) |
(23.4) |
483 |
Other provisions |
2,791 |
3,437 |
(646) |
(18.8) |
2,992 |
Liabilities directly associated with non-current assets and disposal groups held for sale |
0 |
95 |
(95) |
- |
334 |
Other liabilities |
4,500 |
3,468 |
1,032 |
29.8 |
3,812 |
Non-current liabilities |
62,616 |
55,786 |
6,830 |
12.2 |
53,914 |
Financial liabilities |
42,819 |
37,010 |
5,809 |
15.7 |
35,957 |
Provisions for pensions and other employee benefits |
5,879 |
5,157 |
722 |
14.0 |
5,257 |
Other provisions |
2,776 |
3,304 |
(528) |
(16.0) |
3,414 |
Deferred tax liabilities |
7,551 |
7,108 |
443 |
6.2 |
6,412 |
Other liabilities |
3,591 |
3,207 |
384 |
12.0 |
2,874 |
Liabilities |
91,435 |
80,028 |
11,407 |
14.3 |
78,021 |
Shareholders’ equity |
41,467 |
43,112 |
(1,645) |
(3.8) |
42,105 |
Issued capital |
11,165 |
11,165 |
0 |
0.0 |
11,165 |
Capital reserves |
51,527 |
51,526 |
1 |
0.0 |
51,525 |
Retained earnings including carryforwards |
(20,620) |
(18,761) |
(1,859) |
(9.9) |
(18,966) |
Total other comprehensive income |
(5,454) |
(5,411) |
(43) |
(0.8) |
(6,043) |
Net profit (loss) |
(603) |
1,483 |
(2,086) |
n.a. |
1,318 |
Treasury shares |
(5) |
(5) |
0 |
0.0 |
(5) |
Issued capital and reserves attributable to owners of the parent |
36,010 |
39,997 |
(3,987) |
(10.0) |
38,994 |
Non-controlling interests |
5,457 |
3,115 |
2,342 |
75.2 |
3,111 |
Total liabilities and shareholders’ equity |
132,902 |
123,140 |
9,762 |
7.9 |
120,126 |
|
a |
Comparative periods adjusted. Changes in the presentation of derivatives. For explanations, please refer to “Selected explanatory notes/Accounting policies.” |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Net revenue |
16,238 |
15,125 |
7.4 |
32,140 |
30,103 |
6.8 |
61,666 |
Cost of sales |
(8,746) |
(8,342) |
(4.8) |
(17,652) |
(16,664) |
(5.9) |
(34,592) |
Gross profit |
7,492 |
6,783 |
10.5 |
14,488 |
13,439 |
7.8 |
27,074 |
Selling expenses |
(4,059) |
(3,810) |
(6.5) |
(8,055) |
(7,519) |
(7.1) |
(15,952) |
General and administrative expenses |
(1,469) |
(1,230) |
(19.4) |
(2,605) |
(2,333) |
(11.7) |
(4,821) |
Other operating income |
253 |
258 |
(1.9) |
640 |
1,013 |
(36.8) |
1,971 |
Other operating expenses |
(205) |
(133) |
(54.1) |
(2,212) |
(434) |
n.a. |
(1,232) |
Profit from operations |
2,012 |
1,868 |
7.7 |
2,256 |
4,166 |
(45.8) |
7,040 |
Finance costs |
(635) |
(770) |
17.5 |
(1,267) |
(1,342) |
5.6 |
(2,487) |
Interest income |
91 |
87 |
4.6 |
191 |
158 |
20.9 |
408 |
Interest expense |
(726) |
(857) |
15.3 |
(1,458) |
(1,500) |
2.8 |
(2,895) |
Share of profit (loss) of associates and joint ventures accounted for using the equity method |
9 |
5 |
80.0 |
14 |
16 |
(12.5) |
(388) |
Other financial income (expense) |
(389) |
(211) |
(84.4) |
(504) |
(327) |
(54.1) |
(713) |
Profit (loss) from financial activities |
(1,015) |
(976) |
(4.0) |
(1,757) |
(1,653) |
(6.3) |
(3,588) |
Profit before income taxes |
997 |
892 |
11.8 |
499 |
2,513 |
(80.1) |
3,452 |
Income taxes |
(401) |
(344) |
(16.6) |
(827) |
(906) |
8.7 |
(1,428) |
Profit (loss) |
596 |
548 |
8.8 |
(328) |
1,607 |
n.a. |
2,024 |
Profit (loss) attributable to |
596 |
548 |
8.8 |
(328) |
1,607 |
n.a. |
2,024 |
Owners of the parent (net profit (loss)) |
521 |
394 |
32.2 |
(603) |
1,318 |
n.a. |
1,483 |
Non-controlling interests |
75 |
154 |
(51.3) |
275 |
289 |
(4.8) |
541 |
Q2
2009
|
Q2
2008
|
Change
% |
H1
2009
|
H1
2008
|
Change
% |
FY
2008
| ||
Earnings per share/ADS |
||||||||
Basic |
(€) |
0.12 |
0.09 |
33.3 |
(0.14) |
0.30 |
n.a. |
0.34 |
Diluted |
(€) |
0.12 |
0.09 |
33.3 |
(0.14) |
0.30 |
n.a. |
0.34 |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Profit (loss) |
596 |
548 |
8.8 |
(328) |
1,607 |
n.a. |
2,024 |
Actuarial gains and losses on defined benefit plans and other employee benefits |
0 |
0 |
- |
0 |
0 |
- |
227 |
Revaluation due to business combinations |
0 |
(1) |
n.a. |
(33) |
(1) |
n.a. |
0 |
Exchange differences on translating foreign operations |
(120) |
745 |
n.a. |
52 |
(963) |
n.a. |
(352) |
Available-for-sale financial assets |
|||||||
Change in other comprehensive income
(not recognized in income statement) |
(3) |
0 |
n.a. |
(6) |
1 |
n.a. |
1 |
Recognition of other comprehensive income
in income statement |
0 |
0 |
- |
0 |
0 |
- |
0 |
Fair value measurement of hedging instruments |
|||||||
Change in other comprehensive income
(not recognized in income statement) |
108 |
157 |
(31.2) |
33 |
77 |
(57,1) |
60 |
Recognition of other comprehensive income
in income statement |
(87) |
0 |
n.a. |
(26) |
(9) |
n.a. |
(101) |
Other income and expense recognized directly in equity |
0 |
0 |
- |
11 |
0 |
n.a. |
(8) |
Income taxes relating to components of other comprehensive income |
3 |
(50) |
n.a. |
6 |
(22) |
n.a. |
(53) |
Other comprehensive income |
(99) |
851 |
n.a. |
37 |
(917) |
n.a. |
(226) |
Total comprehensive income |
497 |
1,399 |
(64.5) |
(291) |
690 |
n.a. |
1,798 |
Total comprehensive income attributable to |
497 |
1,399 |
(64.5) |
(291) |
690 |
n.a. |
1,798 |
Owners of the parent |
320 |
1,132 |
(71.7) |
(602) |
249 |
n.a. |
1,251 |
Non-controlling interests |
177 |
267 |
(33.7) |
311 |
441 |
(29,5) |
547 |
Issued capital and reserves attributable to owners of the parent | ||||||||
Equity contributed |
Consolidated shareholders’ equity generated |
Total other comprehensive income | ||||||
Issued capital |
Capital reserves |
Retained earnings incl. carry-forwards |
Net profit
(loss) |
Translation of foreign operations |
Revalua-tion surplus |
Available-for-sale financial assets |
Cash flow hedges | |
millions
of € |
millions
of € |
millions
of € |
millions
of € |
millions
of € |
millions
of € |
millions
of € |
millions
of € | |
Balance at January 1, 2008 |
11,165 |
51,524 |
(16,218) |
571 |
(5,999) |
308 |
2 |
1,126 |
Unappropriated profit (loss) carried forward |
571 |
(571) |
||||||
Dividends |
(3,386) |
|||||||
Proceeds from the exercise of stock options |
1 |
|||||||
Total comprehensive income |
1,318 |
(1,115) |
(1) |
1 |
68 | |||
Transfer to retained earnings |
67 |
(67) |
||||||
Balance at June 30, 2008 |
11,165 |
51,525 |
(18,966) |
1,318 |
(7,114) |
240 |
3 |
1,194 |
Balance at January 1, 2009 |
11,165 |
51,526 |
(18,761) |
1,483 |
(6,356) |
202 |
3 |
1,085 |
Changes in the composition of the Group |
||||||||
Unappropriated profit (loss) carried forward |
1,483 |
(1,483) |
||||||
Dividends |
(3,386) |
|||||||
Proceeds from the exercise of stock options |
1 |
|||||||
Total comprehensive income |
(603) |
18 |
(33) |
(8) |
7 | |||
Transfer to retained earnings |
44 |
(44) |
||||||
Balance at June 30, 2009 |
11,165 |
51,527 |
(20,620) |
(603) |
(6,338) |
125 |
(5) |
1,092 |
Total |
Non-controlling interests |
Total shareholders’ equity | |||||
Total other comprehensive income |
Treasury shares | ||||||
Other comprehensive income |
Deferred taxes | ||||||
millions
of € |
millions
of € |
millions
of € |
millions
of € |
millions
of € |
millions
of € | ||
Balance at January 1, 2008 |
0 |
(344) |
(5) |
42,130 |
3,115 |
45,245 | |
Unappropriated profit (loss) carried forward |
0 |
0 | |||||
Dividends |
(3,386) |
(445) |
(3,831) | ||||
Proceeds from the exercise of stock options |
1 |
1 | |||||
Total comprehensive income |
0 |
(22) |
249 |
441 |
690 | ||
Transfer to retained earnings |
0 |
0 | |||||
Balance at June 30, 2008 |
0 |
(366) |
(5) |
38,994 |
3,111 |
42,105 | |
Balance at January 1, 2009 |
(11) |
(334) |
(5) |
39,997 |
3,115 |
43,112 | |
Changes in the composition of the Group |
0 |
2,872 |
2,872 | ||||
Unappropriated profit (loss) carried forward |
0 |
0 | |||||
Dividends |
(3,386) |
(841) |
(4,227) | ||||
Proceeds from the exercise of stock options |
1 |
0 |
1 | ||||
Total comprehensive income |
11 |
6 |
(602) |
311 |
(291) | ||
Transfer to retained earnings |
0 |
0 | |||||
Balance at June 30, 2009 |
0 |
(328) |
(5) |
36,010 |
5,457 |
41,467 | |
Q2
2009
millions of € |
Q2
2008
millions of € |
H1
2009
millions of € |
H1
2008
millions of € |
FY
2008
millions of € | |
Profit (loss) |
596 |
548 |
(328) |
1,607 |
2,024 |
Depreciation, amortization and impairment losses |
3,015 |
2,698 |
7,713 |
5,355 |
10,975 |
Income tax expense (benefit) |
401 |
344 |
827 |
906 |
1,428 |
Interest income and interest expenses |
635 |
770 |
1,267 |
1,342 |
2,487 |
Other financial (income) expense |
389 |
211 |
504 |
327 |
713 |
Share of (profit) loss of associates and joint ventures accounted for using
the equity method |
(9) |
(5) |
(14) |
(16) |
388 |
Profit on the disposal of fully consolidated subsidiaries |
(6) |
2 |
(23) |
(499) |
(455) |
Other non-cash transactions |
(17) |
(62) |
(100) |
(72) |
(147) |
(Gain) loss from the disposal of intangible assets and property, plant and equipment |
15 |
20 |
33 |
27 |
70 |
Change in assets carried as working capital |
306 |
81 |
14 |
(131) |
286 |
Change in provisions |
(814) |
(172) |
(1,191) |
(356) |
493 |
Change in other liabilities carried as working capital |
(169) |
53 |
(641) |
(118) |
(130) |
Income taxes received (paid) |
(211) |
(116) |
(499) |
(268) |
(520) |
Dividends received |
7 |
3 |
7 |
39 |
13 |
Net payments from entering into or canceling interest rate swapsa |
77 |
- |
242 |
- |
- |
Cash generated from operations |
4,215 |
4,375 |
7,811 |
8,143 |
17,625 |
Interest paid |
(975) |
(1,066) |
(1,976) |
(1,746) |
(3,431) |
Interest received |
272 |
373 |
643 |
616 |
1,174 |
Net cash from operating activities |
3,512 |
3,682 |
6,478 |
7,013 |
15,368 |
Cash outflows for investments in |
|||||
Intangible assets |
(385) |
(347) |
(668) |
(568) |
(1,799) |
Property, plant and equipment |
(1,826) |
(1,490) |
(4,154) |
(3,061) |
(6,908) |
Non-current financial assets |
(16) |
(2,661) |
(96) |
(2,683) |
(3,261) |
Investments in fully consolidated subsidiaries and business units |
(68) |
0 |
(68) |
(1,028) |
(1,030) |
Proceeds from disposal of |
|||||
Intangible assets |
0 |
23 |
2 |
26 |
34 |
Property, plant and equipment |
103 |
95 |
162 |
182 |
338 |
Non-current financial assets |
68 |
33 |
86 |
132 |
102 |
Investments in fully consolidated subsidiaries and business units |
92 |
8 |
120 |
743 |
778 |
Net change in short-term investments and marketable securities and receivables |
3 |
136 |
(387) |
(164) |
611 |
Net change in cash and cash equivalents due to inclusion of OTE |
0 |
- |
1,558 |
- |
- |
Other |
0 |
(11) |
(93) |
(16) |
(249) |
Net cash used in investing activities |
(2,029) |
(4,214) |
(3,538) |
(6,437) |
(11,384) |
Proceeds from issue of current financial liabilities |
2,634 |
20,480 |
2,944 |
28,212 |
39,281 |
Repayment of current financial liabilities |
(1,316) |
(18,994) |
(4,051) |
(29,461) |
(44,657) |
Proceeds from issue of non-current financial liabilities |
2,744 |
2,474 |
4,980 |
4,220 |
6,477 |
Repayment of non-current financial liabilities |
(18) |
(24) |
(113) |
(56) |
(96) |
Dividend payments |
(3,814) |
(3,702) |
(3,886) |
(3,702) |
(3,963) |
Proceeds from the exercise of stock options |
- |
0 |
- |
2 |
3 |
Repayment of lease liabilities |
(33) |
(41) |
(64) |
(77) |
(142) |
Net cash from (used in) financing activities |
197 |
193 |
(190) |
(862) |
(3,097) |
Effect of exchange rate changes on cash and cash equivalents |
43 |
22 |
60 |
40 |
(61) |
Net increase (decrease) in cash and cash equivalents |
1,723 |
(317) |
2,810 |
(246) |
826 |
Cash and cash equivalents, at the beginning of the period |
4,113 |
2,271 |
3,026 |
2,200 |
2,200 |
Cash and cash equivalents, at end of the period |
5,836 |
1,954 |
5,836 |
1,954 |
3,026 |
|
a |
Disclosure was adjusted in the first half of 2009. For explanations, please refer to “Selected explanatory notes/Accounting policies.” |
|
Accounting policies. |
|
All changes in shareholders’ equity resulting from transactions with owners are presented separately from those changes in shareholders’ equity not resulting from transactions with owners (non-owner changes). |
|
Income and expenses are presented separately from transactions with owners in two components of the financial statements (consolidated income statement and consolidated statement of comprehensive income). |
|
The components of other comprehensive income are presented in the consolidated statement of comprehensive income. |
|
Total other comprehensive income is presented in the consolidated statement of changes in equity. |
|
Business combinations. |
Interest
% |
billions of € | |
Purchase price for acquired shares |
25.0 |
3.1 |
Shares acquired from Marfin Investment Group |
20.0 |
2.6 |
Shares acquired from the market |
2.0 |
0.1 |
Shares acquired from the Hellenic Republic |
3.0 |
0.4 |
Put option I |
5.0 |
0.7 |
Put option II |
10.0 |
0.7 |
Dividend received from pre-acquisition profits |
(0.1) | |
Purchase price |
40.0 |
4.4 |
Fair value at acquisition date
millions of € |
Carrying amounts immediately prior to the business combination
millions of € | |
Assets |
16,674 |
14,567 |
Current assets |
3,455 |
3,455 |
Cash and cash equivalents |
1,580 |
1,580 |
Non-current assets and disposal groups held for sale |
159 |
159 |
Other assets |
1,716 |
1,716 |
Non-current assets |
13,219 |
11,112 |
Intangible assets |
5,346 |
4,751 |
Of which: goodwill |
2,482 |
3,835 |
Property, plant and equipment |
7,091 |
5,611 |
Other assets |
782 |
750 |
Liabilities |
9,854 |
9,441 |
Current liabilities |
3,012 |
3,012 |
Financial liabilities |
637 |
637 |
Trade and other payables |
901 |
901 |
Liabilities directly associated with non-current assets and disposal groups held for sale |
21 |
21 |
Other liabilities |
1,453 |
1,453 |
Non-current liabilities |
6,842 |
6,429 |
Financial liabilities |
5,133 |
5,411 |
Other liabilities |
1,709 |
1,018 |
|
Changes in the composition of the Group. |
|
In the past year, Deutsche Telekom acquired interests in various companies that were not yet, or were only partially, included in the consolidated financial statements for the first half of 2008. This primarily relates to SunCom, which was included in the consolidated financial statements for the first time as of February 22, 2008. Furthermore, DeTeImmobilien was deconsolidated effective September 30, 2008. The
equity interest in CAP Customer Advantage Program GmbH was sold as of January 30, 2009. In addition, OTE was fully consolidated for the first time on February 6, 2009 upon implementation of the shareholders’ agreement. |
Mobile Communi-cations
Europe
millions
of € |
Mobile Communi-cations
USA
millions
of € |
Broadband/
Fixed Network
millions
of € |
Systems Solutions
millions
of € |
Group Head-quarters & Shared Services
millions
of € |
Total
millions
of € | |
Net revenue |
1,126 |
102 |
1,264 |
(6) |
3 |
2,489 |
Cost of sales |
(681) |
(42) |
(761) |
(1) |
(26) |
(1,511) |
Gross profit (loss) |
445 |
60 |
503 |
(7) |
(23) |
978 |
Selling expenses |
(308) |
(39) |
(211) |
2 |
2 |
(554) |
General and administrative expenses |
(64) |
(4) |
(145) |
2 |
39 |
(172) |
Other operating income |
10 |
0 |
7 |
(1) |
18 |
34 |
Other operating expenses |
(2) |
0 |
(4) |
0 |
(11) |
(17) |
Profit (loss) from operations |
81 |
17 |
150 |
(4) |
25 |
269 |
Finance costs |
(33) |
0 |
(80) |
0 |
(30) |
(143) |
Share of profit (loss) of associates and joint ventures accounted for using the equity method |
0 |
0 |
0 |
0 |
0 |
0 |
Other financial income (expense) |
0 |
0 |
(1) |
0 |
15 |
14 |
Profit (loss) from financial activities |
(33) |
0 |
(81) |
0 |
(15) |
(129) |
Profit (loss) before income taxes |
48 |
17 |
69 |
(4) |
10 |
140 |
Income taxes |
(20) |
(6) |
(62) |
1 |
(3) |
(90) |
Profit (loss) |
28 |
11 |
7 |
(3) |
7 |
50 |
|
Selected notes to the consolidated income statement. |
Q2
2009
millions of € |
Q2
2008
millions of € |
Change
% |
H1
2009
millions of € |
H1
2008
millions of € |
Change
% |
FY
2008
millions
of € | |
Net revenue |
16,238 |
15,125 |
7.4 |
32,140 |
30,103 |
6.8 |
61,666 |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Cost of sales |
(8,746) |
(8,342) |
(4.8) |
(17,652) |
(16,664) |
(5.9) |
(34,592) |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Selling expenses |
(4,059) |
(3,810) |
(6.5) |
(8,055) |
(7,519) |
(7.1) |
(15,952) |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
General and administrative expenses |
(1,469) |
(1,230) |
(19.4) |
(2,605) |
(2,333) |
(11.7) |
(4,821) |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Other operating income |
253 |
258 |
(1.9) |
640 |
1,013 |
(36.8) |
1,971 |
Other operating expenses |
(205) |
(133) |
(54.1) |
(2,212) |
(434) |
n.a. |
(1,232) |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Profit (loss) from financial activities |
(1,015) |
(976) |
(4.0) |
(1,757) |
(1,653) |
(6.3) |
(3,588) |
Finance costs |
(635) |
(770) |
17.5 |
(1,267) |
(1,342) |
5.6 |
(2,487) |
Interest income |
91 |
87 |
4.6 |
191 |
158 |
20.9 |
408 |
Interest expense |
(726) |
(857) |
15.3 |
(1,458) |
(1,500) |
2.8 |
(2,895) |
Share of (profit) loss of associates and joint ventures accounted for using the equity method |
9 |
5 |
80.0 |
14 |
16 |
(12.5) |
(388) |
Other financial income (expense) |
(389) |
(211) |
(84.4) |
(504) |
(327) |
(54.1) |
(713) |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Income taxes |
(401) |
(344) |
(16.6) |
(827) |
(906) |
8.7 |
(1,428) |
|
Other disclosures. |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Personnel costs |
(3,643) |
(3,457) |
(5.4) |
(6,953) |
(6,777) |
(2.6) |
(14,078) |
Average number of employees |
260,380 |
236,183 |
10.2 |
254,853 |
237,143 |
7.5 |
234,887 |
June 30, 2009
|
Dec. 31, 2008
|
Change
|
Change
% |
June 30, 2008
| |
Number of employees at balance sheet date |
261,373 |
227,747 |
33,626 |
14.8 |
235,794 |
Germany |
130,452 |
131,713 |
(1,261) |
(1.0) |
142,358 |
International |
130,921 |
96,034 |
34,887 |
36.3 |
93,436 |
Non-civil servants |
229,990 |
195,634 |
34,356 |
17.6 |
202,151 |
Civil servants (Germany) |
31,383 |
32,113 |
(730) |
(2.3) |
33,643 |
Trainees and student interns at balance sheet date |
8,640 |
11,668 |
(3,028) |
(26.0) |
9,164 |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Amortization and impairment of intangible assets |
(884) |
(773) |
(14.4) |
(3,475) |
(1,549) |
n.a. |
(3,397) |
Of which: UMTS licenses |
(214) |
(217) |
1.4 |
(423) |
(438) |
3.4 |
(868) |
Of which: U.S. mobile communications licenses |
- |
(7) |
n.a. |
- |
(21) |
n.a. |
(21) |
Of which: goodwill |
(3) |
- |
n.a. |
(1,806) |
- |
n.a. |
(289) |
Depreciation and impairment of property, plant and equipment |
(2,131) |
(1,925) |
(10.7) |
(4,238) |
(3,806) |
(11.4) |
(7,578) |
Total depreciation, amortization and impairment losses |
(3,015) |
(2,698) |
(11.7) |
(7,713) |
(5,355) |
(44.0) |
(10,975) |
|
Selected notes to the consolidated balance sheet. |
June 30, 2009
millions of € |
Dec. 31, 2008
millions of € |
Change
millions of € |
Change
% |
June 30, 2008
millions of € | |
Intangible assets |
56,796 |
53,927 |
2,869 |
5.3 |
53,576 |
Of which: UMTS licenses |
10,208 |
10,005 |
203 |
2.0 |
11,148 |
Of which: U.S. mobile communications licenses |
17,452 |
17,666 |
(214) |
(1.2) |
15,546 |
Of which: goodwill |
21,233 |
20,626 |
607 |
2.9 |
21,434 |
Property, plant and equipment |
47,671 |
41,559 |
6,112 |
14.7 |
41,005 |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
Change
% |
H1
2009
millions
of € |
H1
2008
millions
of € |
Change
% |
FY
2008
millions
of € | |
Additions to assets |
2,258 |
1,749 |
29.1 |
6,686 |
4,314 |
55.0 |
10,117 |
Intangible assets |
394 |
195 |
n.a. |
3,091 |
1,439 |
n.a. |
2,740 |
Property, plant and equipment |
1,864 |
1,554 |
19.9 |
3,595 |
2,875 |
25.0 |
7,377 |
June 30, 2009
millions of € |
Due
≤1 year
millions of € |
Due
>1 year
≤3 years
millions of € |
Due
>3 years
≤5 years
millions of € |
Due
>5 years
millions of € | |
Bonds and other securitized liabilities |
43,157 |
8,131 |
8,746 |
5,515 |
20,765 |
Liabilities to banks |
4,806 |
811 |
823 |
1,577 |
1,595 |
Lease liabilities |
1,965 |
128 |
216 |
231 |
1,390 |
Liabilities to non-banks from promissory notes |
1,029 |
- |
- |
88 |
941 |
Other interest-bearing liabilities |
608 |
297 |
143 |
35 |
133 |
Other non-interest-bearing liabilities |
4,495 |
4,391 |
95 |
7 |
2 |
Derivative financial liabilities |
806 |
289 |
155 |
222 |
140 |
Financial liabilities |
56,866 |
14,047 |
10,178 |
7,675 |
24,966 |
First half of 2009 |
First half of 2008 | |||||
Before tax amount
millions
of € |
Tax (expense) benefit
millions
of € |
Net of tax amount
millions
of € |
Before tax amount
millions
of € |
Tax (expense) benefit
millions
of € |
Net of tax amount
millions
of € | |
Revaluation due to business combinations |
(33) |
0 |
(33) |
0 |
0 |
0 |
Exchange differences on translation of foreign subsidiaries |
52 |
0 |
52 |
(963) |
0 |
(963) |
Available-for-sale financial assets |
(6) |
4 |
(2) |
1 |
0 |
1 |
Of which: recognized in income statement |
0 |
0 |
0 |
0 |
0 |
0 |
Fair value measurement of hedging instruments |
7 |
2 |
9 |
68 |
(23) |
45 |
Of which: recognized in income statement |
(26) |
9 |
(17) |
(9) |
1 |
(8) |
Other income and expense recognized directly in equity |
11 |
0 |
11 |
(1) |
1 |
0 |
Other comprehensive income |
31 |
6 |
37 |
(895) |
(22) |
(917) |
Profit (loss) |
(328) |
1,607 | ||||
Total comprehensive income |
(291) |
690 | ||||
|
Contingencies. |
|
Executive bodies. |
|
Significant events after the balance sheet date (June 30, 2009). |
|
For significant events after the balance sheet date, please refer to the “Outlook” section. |
|
Selected notes to the consolidated cash flow statement. |
|
Segment reporting. |
Q2 2009
Q2 2008 |
Net revenue
millions
of € |
Inter-segment revenue
millions
of € |
Total revenue
millions
of € |
EBIT (profit (loss) from operations)
millions
of € |
Deprecia-tion and amortization
millions
of € |
Impair-ment losses
millions
of € |
Segment
assets
millions
of € |
Investments accounted for using the equity method
millions
of € |
Mobile Communications Europe |
5,307 |
193 |
5,500 |
917 |
(990) |
(2) |
34,900 |
12 |
5,015 |
172 |
5,187 |
861 |
(941) |
0 |
33,941 |
1 | |
Mobile Communications USA |
3,914 |
4 |
3,918 |
654 |
(522) |
0 |
34,118 |
17 |
3,496 |
2 |
3,498 |
584 |
(423) |
(7) |
29,670 |
12 | |
Broadband/Fixed Networka |
5,383 |
680 |
6,063 |
760 |
(1,103) |
(12) |
32,142 |
71 |
4,922 |
639 |
5,561 |
819 |
(888) |
(2) |
26,969 |
82 | |
Systems Solutionsa |
1,502 |
677 |
2,179 |
27 |
(173) |
0 |
6,873 |
50 |
1,538 |
713 |
2,251 |
(65) |
(188) |
(7) |
6,968 |
17 | |
Group Headquarters & Shared Services |
132 |
745 |
877 |
(280) |
(198) |
(26) |
13,236 |
0 |
154 |
761 |
915 |
(305) |
(175) |
(75) |
11,930 |
2,520 | |
Total |
16,238 |
2,299 |
18,537 |
2,078 |
(2,986) |
(40) |
121,269 |
150 |
15,125 |
2,287 |
17,412 |
1,894 |
(2,615) |
(91) |
109,478 |
2,632 | |
Reconciliation |
- |
(2,299) |
(2,299) |
(66) |
12 |
(1) |
(3,834) |
0 |
- |
(2,287) |
(2,287) |
(26) |
10 |
(2) |
(3,263) |
0 | |
Group |
16,238 |
- |
16,238 |
2,012 |
(2,974) |
(41) |
117,435 |
150 |
15,125 |
- |
15,125 |
1,868 |
(2,605) |
(93) |
106,215 |
2,632 | |
|
a |
As of January 1, 2009, approximately 160,000 business customers in Germany were transferred from the Systems Solutions operating segment (until December 31, 2008 called the Business Customers operating segment) to the Broadband/Fixed Network operating segment. Prior-year figures have been adjusted accordingly. |
H1 2009
H1 2008 |
Net revenue
millions
of € |
Inter-segment revenue
millions
of € |
Total revenue
millions
of € |
EBIT (profit (loss) from operations)
millions
of € |
Deprecia-tion and amortization
millions
of € |
Impair-ment losses
millions
of € |
Segment
assets
millions
of € |
Investments accounted for using the equity method
millions
of € |
Mobile Communications Europe |
10,201 |
376 |
10,577 |
(249) |
(1,898) |
(1,805) |
34,900 |
12 |
9,850 |
329 |
10,179 |
1,620 |
(1,881) |
0 |
33,941 |
1 | |
Mobile Communications USA |
8,047 |
8 |
8,055 |
1,184 |
(1,053) |
0 |
34,118 |
17 |
6,953 |
6 |
6,959 |
1,086 |
(869) |
(21) |
29,670 |
12 | |
Broadband/Fixed Networka |
10,618 |
1,327 |
11,945 |
1,930 |
(2,101) |
(19) |
32,142 |
71 |
9,954 |
1,284 |
11,238 |
1,708 |
(1,793) |
(4) |
26,969 |
82 | |
Systems Solutionsa |
2,998 |
1,287 |
4,285 |
38 |
(350) |
0 |
6,873 |
50 |
3,042 |
1,409 |
4,451 |
418 |
(375) |
(8) |
6,968 |
17 | |
Group Headquarters & Shared Services |
276 |
1,479 |
1,755 |
(549) |
(378) |
(129) |
13,236 |
0 |
304 |
1,495 |
1,799 |
(582) |
(347) |
(80) |
11,930 |
2,520 | |
Total |
32,140 |
4,477 |
36,617 |
2,354 |
(5,780) |
(1,953) |
121,269 |
150 |
30,103 |
4,523 |
34,626 |
4,250 |
(5,265) |
(113) |
109,478 |
2,632 | |
Reconciliation |
- |
(4,477) |
(4,477) |
(98) |
20 |
0 |
(3,834) |
0 |
- |
(4,523) |
(4,523) |
(84) |
24 |
(1) |
(3,263) |
0 | |
Group |
32,140 |
- |
32,140 |
2,256 |
(5,760) |
(1,953) |
117,435 |
150 |
30,103 |
- |
30,103 |
4,166 |
(5,241) |
(114) |
106,215 |
2,632 | |
|
a |
As of January 1, 2009, approximately 160,000 business customers in Germany were transferred from the Systems Solutions operating segment (until December 31, 2008 called the Business Customers operating segment) to the Broadband/Fixed Network operating segment. Prior-year figures have been adjusted accordingly. |
FY
2008 |
Net revenue
millions
of € |
Inter-segment revenue
millions
of € |
Total revenue
millions
of € |
EBIT (profit (loss) from opera-tions)
millions
of € |
Deprecia-tion and amortization
millions
of € |
Impair-ment losses
millions
of € |
Segment
assets
millions
of € |
Investments accounted for using the equity method
millions
of € |
Mobile Communications Europe |
19,978 |
685 |
20,663 |
3,188 |
(3,626) |
(249) |
30,441 |
3 |
Mobile Communications USA |
14,942 |
15 |
14,957 |
2,299 |
(1,863) |
(21) |
34,302 |
14 |
Broadband/Fixed Networka |
19,779 |
2,722 |
22,501 |
2,759 |
(3,568) |
(68) |
26,836 |
83 |
Systems Solutionsa |
6,368 |
2,975 |
9,343 |
81 |
(765) |
(16) |
6,863 |
46 |
Group Headquarters & Shared Services |
599 |
2,974 |
3,573 |
(1,198) |
(704) |
(127) |
11,676 |
3,411 |
Total |
61,666 |
9,371 |
71,037 |
7,129 |
(10,526) |
(481) |
110,118 |
3,557 |
Reconciliation |
- |
(9,371) |
(9,371) |
(89) |
31 |
1 |
(3,451) |
0 |
Group |
61,666 |
- |
61,666 |
7,040 |
(10,495) |
(480) |
106,667 |
3,557 |
|
a |
As of January 1, 2009, approximately 160,000 business customers in Germany were transferred from the Systems Solutions operating segment (until December 31, 2008 called the Business Customers operating segment) to the Broadband/Fixed Network operating segment. Prior-year figures have been adjusted accordingly. |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
H1
2009
millions
of € |
H1
2008
millions
of € |
FY
2008
millions
of € | |
Total profit (loss) of reportable segments |
2,078 |
1,894 |
2,354 |
4,250 |
7,129 |
Reconciliation to the Group |
(66) |
(26) |
(98) |
(84) |
(89) |
Profit (loss) from operations (EBIT) of the Group |
2,012 |
1,868 |
2,256 |
4,166 |
7,040 |
Profit (loss) from financial activities |
(1,015) |
(976) |
(1,757) |
(1,653) |
(3,588) |
Profit before taxes |
997 |
892 |
499 |
2,513 |
3 452 |
Income taxes |
(401) |
(344) |
(827) |
(906) |
(1,428) |
Profit (loss) |
596 |
548 |
(328) |
1,607 |
2,024 |
| ||
Bonn, August 6, 2009
|
|
|
Deutsche Telekom AG
Board of Management |
|
|
René Obermann
|
Hamid Akhavan
|
Dr. Manfred Balz.
|
Reinhard Clemens
|
Niek Jan van Damme
|
Timotheus Höttges
|
Guido Kerkhoff
|
Thomas Sattelberger
|
|
(Prof. Dr. Wollmert)
Wirtschaftsprüfer |
(Forst)
Wirtschaftsprüfer |
(Prof. Dr. Kämpfer)
Wirtschaftsprüfer |
(Tandetzki)
Wirtschaftsprüfer |
H1
2009
millions of € |
Special factors
in H1
2009
millions of € |
H1
2009
without
special factors
millions of € | ||
Net revenue |
32,140 |
- |
32,140 | |
Cost of sales |
(17,652) |
(61)a |
(17,591) | |
Gross profit (loss) |
14,488 |
(61) |
14,549 | |
Selling expenses |
(8,055) |
(3)b |
(8,052) | |
General and administrative expenses |
(2,605) |
(46)c |
(2,559) | |
Other operating income |
640 |
29d |
611 | |
Other operating expenses |
(2,212) |
(1,838)e |
(374) | |
Profit (loss) from operations (EBIT) |
2,256 |
(1,919) |
4,175 | |
Profit (loss) from financial activities |
(1,757) |
(137)f |
(1,620) | |
Profit (loss) before income taxes |
499 |
(2,056) |
2,555 | |
Income taxes |
(827) |
80g |
(907) | |
Profit (loss) |
(328) |
(1,976) |
1,648 | |
Profit (loss) attributable to |
(328) |
(1,976) |
1,648 | |
Owners of the parent
(net profit (loss)) |
(603) |
(2,014) |
1,411 | |
Non-controlling interests |
275 |
38 |
237 | |
Profit (loss) from operations (EBIT) |
2 256 |
(1,919) |
4,175 | |
Depreciation, amortization and impairment losses |
(7,713) |
(1,818) |
(5,895) | |
EBITDA |
9,969 |
(101) |
10,070 | |
EBITDA margin |
(%) |
31.0 |
- |
31.3 |
Personnel costs |
(6,953) |
(34)h |
(6,919) | |
Personnel cost ratio |
(%) |
21.6 |
- |
21.5 |
|
a |
Mainly expenses for staff-related measures at Hellenic Telecommunications Organization S.A. (OTE) and in Germany in the Broadband/Fixed Network operating segment, as well as non staff-related restructuring in the Systems Solutions operating segment. This is offset by proceeds from the involvement of the Hellenic Republic in an early retirement program of OTE in the Broadband/Fixed Network operating segment. |
|
b |
Mainly expenses for staff-related measures at OTE and other staff-related measures in the Broadband/Fixed Network operating segment, as well as expenses for non staff-related restructuring. This is offset by proceeds from the involvement of the Hellenic Republic in an early retirement program of OTE in the Broadband/Fixed Network operating segment. |
|
c |
Mainly expenses for staff-related measures and non staff-related restructuring. This is offset by proceeds from the involvement of the Hellenic Republic in an early retirement program of OTE in the Broadband/Fixed Network operating segment. |
|
d |
Mainly gains on the disposal of CAP Customer Advantage Program GmbH in the Broadband/Fixed Network operating segment and T-Systems Traffic GmbH in the Systems Solutions operating segment. |
|
e |
Mainly impairment loss recognized on the goodwill of the cash generating unit T-Mobile UK in the Mobile Communications Europe operating segment. |
|
f |
Mainly expenses for interest added back to provisions for staff-related measures. |
|
g |
Tax effects from special factors on profit before income taxes. |
|
h |
Mainly expenses for staff-related measures at OTE, other staff-related measures in the Broadband/Fixed Network operating segment, and for staff-related measures in the Systems Solutions operating segment. This is offset by proceeds from the involvement of the Hellenic Republic in an early retirement program of OTE in the Broadband/Fixed Network operating segment. |
H1
2008
millions of € |
Special factors
in H1
2008
millions of € |
H1
2008
without
special factors
millions of € |
FY
2008
without
special factors
millions of € | |||
Net revenue |
30,103 |
30,103 |
61,666 | |||
Cost of sales |
(16,664) |
(253)a |
(16,411) |
(33,655) | ||
Gross profit (loss) |
13,439 |
(253) |
13,692 |
28,011 | ||
Selling expenses |
(7,519) |
(109)b |
(7,410) |
(15,467) | ||
General and administrative expenses |
(2,333) |
(60)b |
(2,273) |
(4,597) | ||
Other operating income |
1,013 |
484c |
529 |
1,461 | ||
Other operating expenses |
(434) |
(87)d |
(347) |
(588) | ||
Profit (loss) from operations (EBIT) |
4,166 |
(25) |
4,191 |
8,820 | ||
Profit (loss) from financial activities |
(1,653) |
(64)e |
(1,589) |
(2,936) | ||
Profit (loss) before income taxes |
2,513 |
(89) |
2,602 |
5,884 | ||
Income taxes |
(906) |
22f |
(928) |
(1,889) | ||
Profit (loss) |
1,607 |
(67) |
1,674 |
3,995 | ||
Profit (loss) attributable to |
1,607 |
(67) |
1,674 |
3,995 | ||
Owners of the parent
(net profit (loss)) |
1,318 |
(65) |
1,383 |
3,426 | ||
Non-controlling interests |
289 |
(2) |
291 |
569 | ||
Profit (loss) from operations (EBIT) |
4,166 |
(25) |
4,191 |
8,820 | ||
Depreciation, amortization and impairment losses |
(5,355) |
(10) |
(5,345) |
(10,639) | ||
EBITDA |
9,521 |
(15) |
9,536 |
19,459 | ||
EBITDA margin |
(%) |
31.6 |
31.7 |
31.6 | ||
Personnel costs |
(6,777) |
(226)g |
(6,551) |
(13,024) | ||
Personnel cost ratio |
(%) |
22.5 |
21.8 |
21.1 | ||
|
a |
Mainly expenses for staff-related measures in the Broadband/Fixed Network operating segment and non-staff-related restructuring expenses in the Systems Solutions operating segment. |
|
b |
Expenses for staff-related measures, non-staff-related restructuring and other expenses. |
|
c |
Mainly gains on the disposal of T-Systems Media&Broadcast in the Systems Solutions operating segment. |
|
d |
Mainly costs from the sale of Vivento business units in the Group Headquarters & Shared Services operating segment and expenses for staff-related measures. |
|
e |
Mainly expenses for interest added back to provisions for staff-related measures. |
|
f |
Tax effects from special factors on profit before income taxes. |
|
g |
In particular expenses for voluntary redundancy and severance payments. |
Q2
2009
millions
of € |
Q2
2008
millions
of € |
H1
2009
millions
of € |
H1
2008
millions
of € |
FY
2008
millions
of € | ||
Cash generated from operations |
4,215 |
4,375 |
7,811 |
8,143 |
17,625 | |
Interest received (paid) |
(703) |
(693) |
(1,333) |
(1,130) |
(2,257) | |
Net cash from operating activities |
3,512 |
3,682 |
6,478 |
7,013 |
15,368 | |
Cash outflows for investments in intangible assets (excluding goodwill) and property, plant and equipment |
(2,211) |
(1,837) |
(4,822) |
(3,629) |
(8,707) | |
Free cash flow before proceeds from disposal of intangible assets (excluding goodwill) and property, plant and equipment |
1,301 |
1,845 |
1,656 |
3,384 |
6,661 | |
Proceeds from disposal of intangible assets (excluding goodwill) and property, plant and equipment |
103 |
118 |
164 |
208 |
372 | |
Free cash flow before dividend payments |
1,404 |
1,963 |
1,820 |
3,592 |
7,033 | |
June 30, 2009
millions of € |
Dec. 31, 2008
millions of € |
June 30, 2008
millions of € | |
Bonds |
43,157 |
34,302 |
32,249 |
Liabilities to banks |
4,806 |
4,222 |
7,415 |
Liabilities to non-banks from promissory notes |
1,029 |
887 |
738 |
Derivative financial liabilities |
752 |
1,053 |
1,339 |
Lease liabilities |
1,965 |
2,009 |
2,056 |
Other financial liabilities |
1,075 |
974 |
452 |
Gross debt |
52,784 |
43,447 |
44,249 |
Cash and cash equivalents |
5,836 |
3,026 |
1,954 |
Available-for-sale/held-for-trading financial assets |
562 |
101 |
104 |
Derivative financial assets |
937 |
1,598 |
292 |
Other financial assets |
483 |
564 |
1,340 |
Net debt |
44,966 |
38,158 |
40,559 |
Datea |
|
November 5, 2009 |
Report on the first three quarters of 2009, Deutsche Telekom |
|
a |
Date not yet finalized |
|
ADSL (Asymmetrical Digital Subscriber Line) – Technology used to transmit data at fast rates via standard copper wire pairs in the local loop within a radius of approximately three kilometers. |
|
ADSL2+ – Successor product to ADSL for a higher data rate. |
|
VDSL (Very high bit rate Digital Subscriber Line) – New technology used to transmit exceptionally high data rates via a fiber-optic network. |
DEUTSCHE TELEKOM AG | |
By: |
/s/ Raphael Kübler |
Name: |
Raphael Kübler |
Title: |
Senior Vice President Controlling and Accounting |