UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of April 2005

 

DEUTSCHE TELEKOM AG

(Translation of registrant’s name into English)

 

Friedrich-Ebert-Allee 140
53113 Bonn
Germany

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or
Form 40-F.

 

Form 20-F  ý   Form 40-F  o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation
S-T Rule 101 (b)(1):  
o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation
S-T Rule 101 (b)(7):  
o

 

Indicate by check mark whether the registrant by furnishing the information contained in this form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes  o   No  ý

 

This report is deemed submitted and not filed pursuant to the rules and regulations of the Securities and Exchange Commission.

 

 


 

CAUTIONARY NOTE REGARDING NON-GAAP FINANCIAL MEASURES

This report contains a number of “non-GAAP financial measures” or financial measures with non-GAAP components, including EBIT, EBIT margin, adjusted EBT, adjusted EBIT, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income/loss, capex, free cash flow, cash contribution, gross debt, net debt, ARPU, SAC, CCPU and CPGA.  In addition, certain of the information contained herein includes presentations in which most or all line items have been adjusted for “special influences,” and all such special influences and line items so adjusted constitute non-GAAP financial measures.   Significant subjective judgment is involved in the designation of any particular influence on our financial performance as a “special influence,” and some of such influences may recur from period-to-period.  In general, wherever the term “adjusted” appears in this report, it designates a non-GAAP financial measure.

These non-GAAP financial measures should not be viewed as a substitute for financial measures prepared in accordance with generally accepted accounting principles (“GAAP”).  Our non-GAAP financial measures may not be comparable to non-GAAP measures used by other companies.  Our management team often uses non-GAAP measures in the management of our business, and believes that they may be helpful to some investors in better understanding trends in our business and performance.  A Glossary defining many of the non-GAAP measures used in this report is placed at the end of the Back-up Materials accompanying this report.

In addition, this report contains tables in which non-GAAP financial measures are presented together with GAAP financial measures.  Some of those tables are headed “German GAAP” or “IFRS.”  You are cautioned not to assume that the non-GAAP financial measures included in such tables have been prepared in accordance with GAAP.  The inclusion of a non-GAAP measure in such a table merely signifies that it has been derived from underlying figures that have been prepared in accordance with GAAP.

 



 

CAUTIONARY NOTE REGARDING HISTORICAL FINANCIAL INFORMATION PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS

This report contains financial information that has been prepared in accordance with International Financial Reporting Standards, or “IFRS.”

The accounting policies applied assume that, with the exception of IAS 39 “Financial Instruments: Recognition and Measurement” and IFRIC 3 “Emission Rights” all existing standards and interpretations currently in issue from the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC) will be fully endorsed by the EU. The accounting policy for financial instruments takes account of the proposed EU revisions to IAS 39 and complies with the amended IAS 39. IFRIC 3 however is not relevant for Deutsche Telekom.

All IFRS published until the date of this report have been endorsed by the EU except for the following standards and interpretations:

• IAS 19—Amendment (December 2004) “Actuarial Gains and Losses, Group Plans and Disclosures”.

• IAS 39 “Financial Instruments: Recognition and Measurement” has only been partially endorsed.

• IAS 39—Amendment (December 2004) “Transition and Initial Recognition of Financial Assets and Financial Liabilities”.

• IFRS 6 “Exploration for and Evaluation of Mineral Resources”.

• IFRIC Amendment to SIC-12: “Scope of SIC-12 Consolidation—Special Purpose Entities”.

• IFRIC 2 “Members’ Shares in Co-operative Entities and Similar Instruments”.

• IFRIC 3 “Emission Rights”.

• IFRIC 4 “Determining Whether an Arrangement contains a Lease”.

• IFRIC 5 “Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds”.

 

Subject to EU endorsement of outstanding standards and no further changes from the IASB, this information is expected to form the basis for comparatives when reporting financial results for 2005 and for subsequent reporting periods. We cannot assure you, however, that no material changes will take place in IFRS between the date hereof and the first date on which we are required by applicable law to publish financial statements under IFRS.

 



 

Deutsche Telekom

IFRS and New Structure.

April 2005.

 

Investor Relations

 



 

Disclaimer 1.

 

This presentation contains forward-looking statements that reflect the current views of Deutsche Telekom management with respect to future events. The words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “project” and “should “ and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on current plans, estimates, and projections, and therefore you should not place too much reliance on them. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond Deutsche Telekom’s control, including, without limitation, those factors set forth in “Forward-Looking Statements” and “Risk Factors” contained in Deutsche Telekom’s annual report on Form 20-F. If these or other risks and uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, Deutsche Telekom’s actual results may be materially different from those expressed or implied by such statements. Deutsche Telekom does not intend or assume any obligation to update these forward-looking statements.

 

This presentation contains a number of non-GAAP figures, such as EBITDA and EBITDA adj. for special influences, EBITDA margin, OIBDA, adj., capex, adj. net income, free Cash-Flow, and gross and net debt. These non-GAAP figures should not be viewed as a substitute for our GAAP figures. Our non-GAAP measures may not be comparable to non-GAAP measures used by other companies. To interpret the non-GAAP measures, please refer to the Backup materials accompanying this presentation and the “Reconciliation to pro forma figures” posted on Deutsche Telekom’s investor relations website under www.deutschetelekom.com.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

 

2



 

Disclaimer 2.

 

The Committee of European Securities Regulators recommends that selected IFRS financial information be disclosed in the reporting on the 2004 financial year. In line with this recommendation, we are presenting here the preliminary consolidated balance sheets, consolidated income statements and net debt under IFRS as well as the preliminary reconciliation of shareholders’ equity, net income and net debt from German GAAP (HGB) to IFRS for the 2003 and 2004 financial years. The disclosure of net debt is not based on any IFRS guidance. This measure is disclosed voluntarily. In accordance with IFRS 1, the assets and liabilities carried in the preliminary consolidated balance sheets and consolidated income statements under IFRS that are presented here are measured in line with the relevant IFRS standards, compliance with which is mandatory as of December 31, 2005, the date on which the consolidated financial statements under IFRS are prepared for the first time, to the extent that these statements were published up until December 31, 2004. Deutsche Telekom has applied IFRIC 4 since January 1, 2003. The resulting differences between the IFRS carrying amounts and the carrying amounts of the assets and liabilities in the consolidated balance sheet under German GAAP for the period ended December 31, 2002 are recognized directly in equity at the time of the transition to IFRS.

 

There can be no guarantee that the final consolidated balance sheets, consolidated income statements and net debt under IFRS will not deviate from the preliminary consolidated balance sheets, consolidated income statements and net debt presented here, because the IASB may make further pronouncements before the final consolidated financial statements as of December 31, 2005 are prepared. Moreover, the EU Commission has yet to endorse individual pronouncements by the IASB that have already been taken into account in the financial information presented below. We would also like to point out that the statements presented here are not a full set of consolidated financial statements under IFRS as defined by IAS 1. In this respect, there are no first-time consolidated financial statements under IFRS within the meaning of IFRS 1. Deutsche Telekom will prepare its first set of consolidated IFRS financial statements as defined by IFRS 1 for the period ended December 31, 2005. IFRS will replace German GAAP in Deutsche Telekom’s external reporting from the first quarter of 2005.

 

It should also be noted that the figures provided for the business units are preliminary and could be subject to change.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

3



 

IFRS and New Structure.

Background to the reporting changes.

 

                       DT is required to move to IFRS accounting from 2005 onwards.

 

                       Change of group structure following strategic realignment towards three strategic business units rather than four divisions.

 

                       Q1 2005 will be the first interim report under IFRS and the new group structure.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

 

4



 

IFRS and New Structure.

Adifferent philosophy behind German GAAP and IFRS.

 

German GAAP

 

IFRS

 

 

 

Protection of debt holders

 

Protection of equity holders

 

 

 

Prudence principle

 

Matching principle over prudence Principle

 

 

 

Historical Cost Accounting

 

(Partial) Fair Value Accounting

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

5



 

IFRS.

Revenue recognition.

 

                       Activation fees

Revenue from activation fees is – different to German GAAP – spread over the average duration of customer relationship.

 

                       Construction contracts (percentage-of-completion method)

Under German GAAP revenue recognition is not allowed before completion of the contract. IFRS requires revenue recognition according to the stage of completion.

 

                       Multiple element arrangements

German GAAP allows revenue recognition with partial delivery. Under certain circumstances IFRS allows revenue recognition only after full delivery.

 

                       Leasing of equipment

Certain products on a rented basis are classified under IFRS as leasing. The expected contract revenue is discounted to a net present value and split in financing part and revenue part. The financing part is presented as interest income. The revenue part is presented as revenue.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

6



 

IFRS.

Revenue recognition.

 

Impact on Equity
€ billion (IFRS)

 

31.12.2004

 

31.12.2003

 

01.01.2003

 

 

 

 

 

 

 

 

 

Revenue recognition

 

-1.2

 

-1.1

 

-1.1

 

 

 

 

 

 

 

 

 

Impact of revenue recognition on P&L
€ billion (IFRS)

 

FY 2004

 

FY 2003

 

 

 

 

 

 

 

 

 

 

 

On revenue

 

-0.5

 

-0.3

 

 

 

 

 

 

 

 

 

 

 

On EBITDA

 

-0.1

 

0.0

 

 

 

 

 

 

 

 

 

 

 

On net income

 

-0.1

 

0.0

 

 

 

 

Investor Relations
FRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

7



 

IFRS.

Goodwill and mobile licenses (1).

 

Goodwill:

 

                       No amortization of goodwill under IFRS (similar to US GAAP) (impairment-only approach).

 

                       Annual impairment test.

 

                       In contrast to US GAAP one-step impairment test.

                        Same approach to evaluate whether impairment is necessary, but different approach to quantify amount of impairment charge.

 

                       Transition from German GAAP to IFRS:

                        German GAAP goodwill as of 01.01.2003 as base (no retrospective application of IFRS 3).

                        Impairment test on 01.01.2003 under IFRS (as required by IFRS 1).

                        No further adjustments of Goodwill as required by IFRS 1 necessary at the date of transition.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

8



 

IFRS.

Goodwill and mobile licenses (2).

 

UMTS Licenses:

 

                       German GAAP: amortization starting at date of acquisition.

 

                       IFRS (similar to US GAAP): amortization with start of network operation.

 

                       Under IFRS no recognition of borrowing costs (similar to German GAAP, different to US GAAP).

 

Impact UMTS Licenses:

 

                       Reversal of amortization charged under German GAAP.

 

                       Start of amortization with start of network operation.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

9



 

IFRS.

Goodwill and mobile licenses (3).

 

FCC Licenses (mobile licenses USA):

 

                       German GAAP: amortization.

 

                       IFRS (similar to US GAAP): “impairment-only approach” due to indefinite useful life.

 

Impact FCC Licenses:

 

                       Reversal of amortization and impairments charged under German GAAP.

 

                       Impairment test as of 1.1.2003: Reversal of impairment from strategic review 2002. Instead impairment of goodwill.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

10



 

IFRS.

Goodwill and mobile licenses (4).

 

Impact on Equity
€ billion (IFRS)

 

31.12.2004

 

31.12.2003

 

01.01.2003

 

 

 

 

 

 

 

 

 

Goodwill

 

-3.1

 

-3.5

 

-6.0

 

 

 

 

 

 

 

 

 

Mobile licenses

 

+9.8

 

+13.1

 

+14.0

 

 

 

 

 

 

 

 

 

Impact on P&L
€ billion (IFRS)

 

FY 2004

 

FY 2003

 

 

 

 

 

 

 

 

 

 

 

Goodwill amortization

 

+0.1

 

+1.6

 

 

 

 

 

 

 

 

 

 

 

Mobile licenses amortization

 

-3.1

 

+1.1

 

 

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

11



 

IFRS.

Provisions.

 

Pension provisions:

 

                       No additional minimum liability under IFRS.

 

                       Different treatment of actuarial gains and losses under IFRS: recognition in shareholders’ equity at the date of transition
(IFRS 1).

 

                       Interest costs presented in financial result, not in operating result.

 

                       Reduction of shareholders’ equity in the IFRS opening balance sheet and increase in the other reporting dates presented; net profit increases in the two periods presented.

 

Other provisions:

 

                       Recognition of restructuring provisions is subject to stricter criteria under IFRS.

 

                       Furthermore, provisions for future internal expenses that have been recognized under German GAAP should not be recognized under IFRS.

 

                       Increase of shareholders’ equity; net profit under IFRS remains largely unaffected.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

12



 

IFRS.

 

Impact on Equity
€ billion (IFRS)

 

31.12.2004

 

31.12.2003

 

01.01.2003

 

 

 

 

 

 

 

 

 

Provisions

 

+1.6

 

+1.5

 

+1.1

 

 

 

 

 

 

 

 

 

Impact of provisions on P&L
€ billion (IFRS)

 

FY 2004

 

FY 2003

 

 

 

 

 

 

 

 

 

 

 

EBITDA (adj.)

 

0.0

 

+0.4

 

 

 

 

 

 

 

 

 

 

 

Net income (adj.)

 

-0.4

 

+0.1

 

 

 

 

 

 

 

 

 

 

 

Net Income (unadj.)

 

+0.1

 

+0.4

 

 

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

13



 

IFRS.

Internally generated software and borrowing costs.

 

Software:

 

                       Recognizing internally generated software, which is not permissible under German GAAP, increases shareholders’ equity under IFRS in all of the periods presented. In the periods following the recognition, net profit under IFRS remains largely unaffected.

 

Borrowing costs:

 

                       Deutsche Telekom does not make use of the option under IFRS to recognize borrowing costs. Under German GAAP, borrowing costs accounted for during the construction period were recognized. Not recognizing borrowing costs reduces shareholders’ equity under IFRS in all periods. The lower amortization than under German GAAP increases net profit.

 

Impact on P&L
€ billion (IFRS)

 

FY 2004

 

FY 2003

 

 

 

 

 

 

 

Internally generated software (EBITDA-impact)

 

+0.3

 

+0.2

 

 

 

 

 

 

 

Internally generated software (net profit-impact)

 

0.0

 

0.0

 

 

 

 

 

 

 

Borrowing costs (net profit-impact)

 

+0.1

 

+0.2

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

 

14



 

IFRS.

Deferred Taxes.

 

                       Differences between IFRS and German GAAP relate in particular to Deutsche Telekom’s “contribution goodwill”, tax loss carryforwards and general recognition and measurement differences between IFRS and German GAAP:

 

                        Deferred tax asset: “contribution goodwill” recognized in tax accounts but not recognized under IFRS.

 

                        Deferred tax asset: future expected tax reductions from the deduction of tax loss carryforwards.

 

                        Deferred tax liabilities: in particular realization of hidden reserves for US mobile licenses; furthermore, net effect of all other temporary differences.

 

Deferred Taxes in balance sheet
€ billion (IFRS)

 

31.12.2004

 

31.12.2003

 

01.01.2003

 

 

 

 

 

 

 

 

 

Deferred tax assets

 

8.3

 

9.3

 

10.2

 

 

 

 

 

 

 

 

 

Deferred tax liabilities

 

9.7

 

10.6

 

10.7

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

15



 

IFRS.

ABS.

 

                       As part of asset-backed securities (ABS) transactions, mostly financial assets are sold to a special-purpose entity (SPE). The SPE refinances itself on the capital market.

 

                       Under IFRS, SPEs must generally be consolidated by the economic beneficiary. In total, there are three SPEs arising from ABS transactions that have to be consolidated by Deutsche Telekom. The capital market liabilities recognized by the SPEs increase Deutsche Telekom’s net debt.

 

Impact on net debt
€ billion (IFRS)

 

31.12.2004

 

31.12.2003

 

01.01.2003

 

 

 

 

 

 

 

 

 

ABS

 

+1.6

 

+1.2

 

+1.2

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

16



 

IFRS.

Leasing.

 

                       A considerably larger number of leases tends to be classified as finance leases under IFRS. While in an operating lease it is the lessor that recognizes the asset, it is the lessee that recognizes the asset in a finance lease.

 

                       Deutsche Telekom has entered into sale and leaseback transactions in connection with its real estate portfolio. Under German GAAP, these transactions were usually treated as a sale of real estate that was subsequently leased back, whereas under IFRS the buildings must be classified as finance leases and the land as operating leases.

 

                       Under IFRS, this results in the recognition of interest expense and a depreciation charge for the buildings and the recognition of rental expense for the land; the disposal gain must be spread over the term of the lease.

 

                       Under German GAAP, gains or losses from the sale of real estate are recorded, as rental expense.

 

                       This reduces shareholders’ equity, net profit and increases net debt under IFRS in all of the periods presented.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

 

17



 

IFRS.

Leasing.

 

Impact on net debt
€ billion (IFRS)

 

31.12.2004

 

31.12.2003

 

01.01.2003

 

 

 

 

 

 

 

 

 

Leasing

 

+2.5

 

+2.4

 

+1.8

 

 

Impact on P&L
€ billion (IFRS)

 

FY 2004

 

FY 2003

 

 

 

 

 

 

 

Leasing (EBITDA-impact)

 

+0.1

 

0.0

 

 

 

 

 

 

 

Leasing (net profit-impact)

 

-0.1

 

-0.3

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

18



 

IFRS.

Measurement of investments not fully consolidated and not accounted for in the consolidated financial statements under the equity method.

 

                       Investments not fully consolidated and not accounted for in the consolidated financial statements under the equity method must be measured at fair value according to IAS 39. As a rule, the resulting unrealized gains and losses are recognized directly in equity.

 

                       According to German GAAP, these assets are measured at amortized cost or, if appropriate, at the lower fair value. As a result of the different accounting policies used under IFRS and German GAAP, the IFRS shareholders’ equity increases in all of the periods presented. Net profit under IFRS remains unaffected.

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

19



 

IFRS.

In a nutshell.

 

€ billion

 

IFRS 2004

 

German GAAP
2004

 

IFRS 2003

 

German GAAP
2003

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

57.4

 

57.9

 

55.5

 

55.8

 

 

 

 

 

 

 

 

 

 

 

Adj. EBITDA

 

19.6

 

19.4

 

18.6

 

18.3

 

 

 

 

 

 

 

 

 

 

 

Adj. net income

 

3.7

 

2.2

 

2.3

 

0.2

 

 

 

 

 

 

 

 

 

 

 

Net income

 

1.6

 

4.6

 

1.9

 

1.3

 

 

 

 

 

 

 

 

 

 

 

Shareholders’ Equity

 

45.9

 

37.9

 

43.8

 

33.8

 

 

 

 

 

 

 

 

 

 

 

Net debt

 

39.6

 

35.2

 

50.7

 

46.6

 

 

 

 

 

 

 

 

 

 

 

Free Cash Flow

 

10.3

 

10.2

 

8.7

 

8.3

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

20



 

IFRS.

Impact on adj. EBITDA.

 

€ billion

 

FY 2004
Excl. special
effects

 

FY 2003
Excl. Special
effects

 

 

 

 

 

 

 

EBITDA (German GAAP)

 

19.4

 

18.3

 

 

 

 

 

 

 

Leasing (Regrouping in depreciation and net interest expense)

 

0.1

 

0.0

 

 

 

 

 

 

 

Interest pension provisions/PBeaKK (Regrouping into net interest expense)

 

0.2

 

0.3

 

 

 

 

 

 

 

Valuation pension provisions (AML)

 

0.1

 

0.2

 

 

 

 

 

 

 

Other taxes (under German GAAP not part of EBITDA)

 

-0.2

 

-0.2

 

 

 

 

 

 

 

Internally generated software

 

0.3

 

0.2

 

 

 

 

 

 

 

Reversal/usage of provisions for contingent losses/other accruals

 

-0.2

 

0.0

 

 

 

 

 

 

 

Reversal/usage of provisions for restructuring

 

-0.1

 

-0.1

 

 

 

 

 

 

 

ABS

 

0.1

 

0.0

 

 

 

 

 

 

 

Revenue recognition

 

-0.1

 

0.0

 

 

 

 

 

 

 

Other IFRS adjustments

 

0.0

 

-0.1

 

 

 

 

 

 

 

EBITDA (IFRS)

 

19.6

 

18.6

 

 

 

 

 

 

 

Delta IFRS – German GAAP

 

0.2

 

0.3

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

21



 

IFRS.

Net income reconciliation 2004 and 2003.

 

 

 

Full year 2004

 

Full year 2003

 

€ billion

 

Incl. SE

 

Excl. SE

 

Incl. SE

 

Excl. SE

 

 

 

 

 

 

 

 

 

 

 

Net income under German GAAP

 

4.6

 

2.2

 

1.3

 

0.2

 

 

 

 

 

 

 

 

 

 

 

Income applicable to minority shareholders

 

0.3

 

0.4

 

0.4

 

0.4

 

 

 

 

 

 

 

 

 

 

 

Income after taxes under German GAAP

 

4.9

 

2.6

 

1.6

 

0.6

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

0.1

 

2.6

 

1.6

 

2.6

 

 

 

 

 

 

 

 

 

 

 

Reversal of scheduled amortization

 

2.6

 

2.6

 

2.6

 

2.6

 

 

 

 

 

 

 

 

 

 

 

Non-scheduled write-downs

 

-2.5

 

0.0

 

-1.0

 

0.0

 

 

 

 

 

 

 

 

 

 

 

Mobile licenses

 

-3.1

 

0.6

 

1.1

 

1.1

 

 

 

 

 

 

 

 

 

 

 

FCC Reversal German GAAP amortization

 

0.5

 

0.5

 

0.5

 

0.5

 

 

 

 

 

 

 

 

 

 

 

FCC IFRS Amortization (non-scheduled)

 

-1.3

 

0.0

 

0.0

 

0.0

 

 

 

 

 

 

 

 

 

 

 

FCC Reversal German GAAP write-ups

 

-2.4

 

0.0

 

0.0

 

0.0

 

 

 

 

 

 

 

 

 

 

 

UMTS-Amortization (scheduled)

 

0.1

 

0.1

 

0.6

 

0.6

 

 

 

 

 

 

 

 

 

 

 

Software

 

0.0

 

0.0

 

0.0

 

0.0

 

 

 

 

 

 

 

 

 

 

 

Borrowing costs

 

0.1

 

0.1

 

0.2

 

0.2

 

 

 

 

 

 

 

 

 

 

 

Measurement of investments not fully consolidated and not accounted for in the consolidated financial statements under the equity method

 

0.0

 

0.0

 

0.0

 

0.0

 

 

 

 

 

 

 

 

 

 

 

Leasing

 

-0.1

 

-0.1

 

-0.3

 

-0.3

 

 

 

 

 

 

 

 

 

 

 

Provisions

 

0.1

 

-0.4

 

0.4

 

0.1

 

 

 

 

 

 

 

 

 

 

 

Pension provisions

 

0.1

 

0.1

 

0.4

 

0.2

 

 

 

 

 

 

 

 

 

 

 

Other provisions

 

0.0

 

-0.5

 

0.0

 

0.0

 

 

 

 

 

 

 

 

 

 

 

Revenue recognition

 

-0.1

 

-0.1

 

0.0

 

0.0

 

 

 

 

 

 

 

 

 

 

 

Other IFRS adjustments

 

0.0

 

-0.1

 

-0.2

 

-0.4

 

 

 

 

 

 

 

 

 

 

 

Deferred taxes

 

0.1

 

-1.0

 

-2.0

 

-1.2

 

 

 

 

 

 

 

 

 

 

 

Income after taxes under IFRS

 

2.0

 

4.1

 

2.4

 

2.7

 

 

 

 

 

 

 

 

 

 

 

Minorities

 

-0.4

 

-0.5

 

-0.5

 

-0.5

 

 

 

 

 

 

 

 

 

 

 

Net income under IFRS

 

1.6

 

3.7

 

1.9

 

2.3

 

 

Investor Relations
IFRS & New Structure

Preliminary and unaudited figures

 

April 2005

 

22


 IFRS.

Reconciliation of Cash Flow.

 

€ million

 

FY 2004

 

FY 2003

 

 

 

 

 

 

 

Net cash provided by operating activities (German GAAP)

 

16,307

 

14,316

 

 

 

 

 

 

 

Net cash provided by operating activities (IFRS)

 

16,721

 

15,053

 

 

 

 

 

 

 

Net cash used for investing activities (German GAAP)

 

-4,318

 

-2,073

 

 

 

 

 

 

 

Net cash used for investing activities (IFRS)

 

-4,502

 

-2,249

 

 

 

 

 

 

 

Net cash provided by (used for) financing activities (German GAAP)

 

-12,652

 

-5,226

 

 

 

 

 

 

 

Net cash provided by (used for) financing activities (IFRS)

 

-12,882

 

-5,797

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents (German GAAP)

 

-663

 

6,974

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents (IFRS)

 

-663

 

6,974

 

 

 

 

 

 

 

Free Cash Flow (German GAAP)

 

10,180

 

8,285

 

 

 

 

 

 

 

Free Cash Flow (IFRS)

 

10,311

 

8,691

 

 

 

 

Investor Relations

 

 

IFRS & New Structure

Preliminary and unaudited Figures

 

April 2005

 

 

23



 

IFRS.

Reconciliation of equity.

 

€ billion

 

31.12.2004

 

31.12.2003

 

01.01.2003

 

 

 

 

 

 

 

 

 

Shareholders equity under German GAAP

 

37.9

 

33.8

 

35.4

 

 

 

 

 

 

 

 

 

Goodwill

 

-3.1

 

-3.5

 

-6.0

 

 

 

 

 

 

 

 

 

Mobile licenses

 

+9.8

 

+13.1

 

+14.0

 

 

 

 

 

 

 

 

 

Provisions

 

+1.6

 

+1.5

 

+1.1

 

 

 

 

 

 

 

 

 

Revenue recognition

 

-1.2

 

-1.1

 

-1.1

 

 

 

 

 

 

 

 

 

Deferred tax assets

 

+6.4

 

+7.4

 

+9.1

 

 

 

 

 

 

 

 

 

Deferred tax liabilities

 

-6.6

 

-7.8

 

-7.9

 

 

 

 

 

 

 

 

 

Other

 

+1,1

 

+0,4

 

+0.6

 

 

 

 

 

 

 

 

 

Shareholders’ equity under IFRS

 

45.9

 

43.8

 

45.2

 

 

 

 

Investor Relations

 

 

IFRS & New Structure

Preliminary and unaudited Figures

 

April 2005

 

24



 

IFRS.

Net debt.

 

€ billion

 

31.12.2004

 

31.12.2003

 

01.01.2003

 

 

 

 

 

 

 

 

 

Net debt under German GAAP

 

35.2

 

46.6

 

61.1

 

 

 

 

 

 

 

 

 

ABS

 

+1.6

 

+1.2

 

+1.2

 

 

 

 

 

 

 

 

 

Leasing

 

+2.5

 

+2.4

 

+1.8

 

 

 

 

 

 

 

 

 

Other

 

+0.3

 

+0.5

 

+0.2

 

 

 

 

 

 

 

 

 

Net debt under IFRS

 

39.6

 

50.7

 

64.3

 

 

 

 

Investor Relations

 

 

IFRS & New Structure

Preliminary and unaudited Figures

 

April 2005

 

25



 

New structure.

In a nutshell.

 

 

 

 

Investor Relations

 

 

IFRS & New Structure

Preliminary and unaudited Figures

 

April 2005

 

26



 

New structure.

The Strategic Business Unit Broadband/Fixed network .

 

FY 2004
€ million

 

T-Com
[German
GAAP Old]

 

Changes
IFRS and
Mobile CEE

 

Impact
Changes
SMEs, ICSS,
NWS, GNF
and consolid.

 

T-Com New
IFRS

 

T-Online
IFRS

 

Broadband/
Fixed
Network

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

 

27,814

 

-1,561

 

-652

 

25,601

 

2,012

 

27,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

10,240

 

-702

 

-34

 

9,504

 

463

 

9,953

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA-Margin

 

36.8

%

n.m.

 

n.m.

 

37.1

%

23.0

%

36.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adj. EBITDA

 

10,466

 

-704

 

-39

 

9,723

 

464

 

10,173

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adj. EBITDA-Margin

 

37.6

%

n.m.

 

n.m.

 

38.0

%

23.1

%

37.7

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

5,525

 

51

 

-34

 

5,542

 

479

 

6,024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capex

 

2,330

 

-302

 

-30

 

1,998

 

121

 

2,119

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of employees

 

125,395

 

-3,192

 

-9,875

 

112,329

 

2,963

 

115,292

 

 

 

 

Investor Relations

 

 

IFRS & New Structure

Preliminary and unaudited Figures

 

April 2005

 

27



 

New structure.

The Strategic Business Unit Mobile.

 

FY 2004
€ million

 

Mobile
[German
GAAP Old]

 

Changes
Mobile CEE

 

Changes
IFRS

 

Mobile
Communications

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

 

24,995

 

1,582

 

-50

 

26,527

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

10,596

 

676

 

-2,809

 

8,463

 

 

 

 

 

 

 

 

 

 

 

EBITDA-Margin

 

42.4

%

42.7

%

 

 

31.9

%

 

 

 

 

 

 

 

 

 

 

Adj. EBITDA

 

7,668

 

676

 

51

 

8,395

 

 

 

 

 

 

 

 

 

 

 

Adj. EBITDA-Margin

 

30.7

%

42.7

%

 

 

31.6

%

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

4,636

 

368

 

-3,423

 

1,581

 

 

 

 

 

 

 

 

 

 

 

Capex

 

2,411

 

299

 

184

 

2,894

 

 

 

 

 

 

 

 

 

 

 

Number of employees

 

44,226

 

3,192

 

0

 

47,418

 

 

 

 

Investor Relations

 

 

IFRS & New Structure

Preliminary and unaudited Figures

 

April 2005

 

28



 

New structure.

The Strategic Business Unit Business Customers.

 

FY 2004
€ million

 

T-Systems
[German
GAAP Old]

 

Changes
IFRS

 

Impact
Changes
SMEs,
NetPro, GNF,
NWS, Billing
S&C and
consolid.

 

Business
Customers

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

 

10,537

 

-168

 

2,588

 

12,957

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

1,357

 

-48

 

208

 

1,517

 

 

 

 

 

 

 

 

 

 

 

EBITDA-Margin

 

12.9

%

n.m.

 

n.m.

 

11.7

%

 

 

 

 

 

 

 

 

 

 

Adj. EBITDA

 

1,473

 

-48

 

213

 

1,638

 

 

 

 

 

 

 

 

 

 

 

Adj. EBITDA-Margin

 

14.0

%

n.m.

 

n.m.

 

12.6

%

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

-211

 

222

 

170

 

181

 

 

 

 

 

 

 

 

 

 

 

Capex

 

720

 

99

 

49

 

868

 

 

 

 

 

 

 

 

 

 

 

Number of employees

 

39,880

 

0

 

12,098

 

51,978

 

 

 

 

Investor Relations

 

 

IFRS & New Structure

Preliminary and unaudited Figures

 

April 2005

 

29



 

 

Historic Numbers under IFRS.

 

New Group Structure.

 

 



 

Content.

 

Introduction

 

 

 

 

 

 

About this report

 

 

 

 

 

 

Conversion to IFRS at Deutsche Telekom

 

 

 

 

 

 

Deutsche Telekom’s strategic realignment

 

 

 

 

 

Reconciliation profit and Loss statements

 

 

 

 

 

 

Reconciliation of group and business units - for each reporting periods

 

 

 

 

 

 

Step 1: IFRS conversion for the group and four divisions - all reporting periods

 

 

 

 

 

 

Step 2: Realignment for the group and three business unit - all reporting periods

 

 

 

 

 

Reconciliation group balance sheet

 

 

 

 

 

 

Balance sheet structure

 

 

 

 

 

 

Cosolidated balance sheet under IFRS

 

 

 

 

 

 

Reconciliation Shareholder’s equity

 

 

 

 

 

 

Reconciliation Net debt

 

 

 

 

 

Reconciliation Cash flow statement

 

 

 

 

 

Disclaimer and contact details

 

 

 

 

3



 

About this report.

 

Deutsche Telekom will present its financial figures in accordance with IFRS (International Financial Reporting Standards) for the first time and under a new structure in its report on the first quarter of 2005. The new structure with the strategic business units Broadband/Fixed Network, Business Customers and Mobile Communications will supercede the previous segment reporting structure with T-Com, T-Mobile, T-Systems and T-Online.

 

These changes have significant effects on the presentation of Deutsche Telekom’s financial figures. This report is intended to give readers the opportunity to familiarize themselves with the effects of these changes on the financial figures Deutsche Telekom has already published.

 

The financial figures are presented in the following two steps.

 

                    The financial figures according to German GAAP for the 2003 and 2004 financial years that have already been published and announced are presented again in accordance with IFRS (International Financial Reporting Standards). The main deviations from German GAAP arising from the new accounting rules under IFRS are explained in the separate footnote booklet.

 

                    The strategic realignment towards the three strategic business units Broadband/Fixed Network, Mobile Communications and Business Customers resulted in changes and transfers within the Group between the individual business units. These include the following effects, which are presented once again in this simplified illustration:

 

1.                   Small and medium-sized enterprises (SMEs) business will be transferred from the previous business unit T-Com to the new business unit Business Customers. NetPro, as the developer of the service platforms for SMEs, will in future be assigned to the Business Services business unit.

 

2.                   Eastern European mobile communications companies will be assigned to the Mobile Communications business unit.

 

3.                   The strategic business unit Broadband/Fixed Network consists of T-Online International AG together with the remaining parts of the T-Com division.

 

4.                   The technical platforms Global Network Factory, International Carrier Services and Solutions (ICSS) and Network Services will be transferred from the business unit T-Systems into the new business unit Broadband/Fixed Network as a result of plants to bundle the entire national and international whole-sale business at T-Com.

 

5.                   The transfer of Billing & Collection, which is responsible for customer billing, from Group Headquarters & Shared Services to the Business Customers business unit means that essential components of the Business Customers product portfolio are coordinated from within this business unit.

 

                    In presenting the reassignments in this report, Deutsche Telekom carried out a so-called change identification, which means that the figures shown for the reassigned units do not represent, for example, the revenue contribution of these units, but rather the effect of the reassignment of these units on the revenue of the business unit. This therefore generally leads to differences in the individual income statement items between the old and new units.

 

                    As with the figures shown under IFRS, the figures for these business units are preliminary figures only. Deutsche Telekom will report according to the new segment structure for the first time in the report on the first quarter of 2005.

 

Unaudited and preliminary figures

4



 

Step 1: IFRS

 

Step 2: New structure

 

 

 

 

 

Unaudited and preliminary figures

5



 

Conversion to IFRS at Deutsche Telekom.

 

According to Article 4 of Regulation (EC) 1606/2002 of the European Parliament and of the Council of July 19, 2002 concerning the application of international accounting standards (Official Journal EC No. L 243 P. 1), Deutsche Telekom is required to prepare consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS) for the 2005 financial year and thereafter; the opening IFRS consolidated balance sheet will be prepared for the period beginning January 1, 2003 (date of transition to IFRS in accordance with IFRS 1).

 

The Committee of European Securities Regulators recommends that selected IFRS financial information be disclosed in the reporting on the 2004 financial year. Deutsche Telekom therefore reported in detail on the conversion of its accounting to IFRS from the 2005 financial year and the effects of the conversion on selected financial information for the 2003 and 2004 financial years in its Group management report on the 2004 financial year. In this report, we are presenting the preliminary consolidated balance sheets, consolidated income statements, consolidated cash flow statements, and net debt under IFRS fort the 2003 and 2004 financial years. The disclosure of net debt is not based on any IFRS guidance. This measure is disclosed voluntarily.

 

The following financial information was prepared in compliance with IFRS published before December 31, 2004 that either must be adopted or can be adopted voluntarily in the first set of consolidated financial statements under IFRS for the period ended December 31, 2005.

 

There can be no guarantee that the IASB (International Accounting Standards Board) will not make further pronouncements before the final consolidated financial statements as of December 31, 2005 are prepared and that the standards used to prepare this financial information will not differ from those used to prepare the consolidated financial statements for the period ended December 31, 2005.

 

Moreover, the EU Commission has yet to recognize individual pronouncements by the IASB. This being the case, it is appropriate

to point out that the figures presented in this report are preliminary and subject to change.

 

We would also like to point out that the statements presented below are not a full set of consolidated financial statements under IFRS as defined by IAS 1. Deutsche Telekom will prepare its first set of consolidated IFRS financial statements as defined by IFRS 1 for the period ended December 31, 2005. IFRS will replace German GAAP in Deutsche Telekom’s external reporting from the first quarter of 2005.

 

Whereas the protection of creditors and the principle of prudence were the priority under German GAAP, IFRS is oriented towards the shareholder value approach. This is particularly evident in the differing treatment of goodwill, which is no longer amortized under IFRS, but regularly tested for impairment in accordance with the fair value principle. The difference between the philosophies is also clear in the treatment of accruals: Whereas German GAAP – in accordance with the principle of prudence – allows the recognition of a relatively high level of accruals, IFRS prescribes far narrower preconditions for the recognition of provisions.

 

Unaudited and preliminary figures

6



 

The principle differences in the accounting policies between German GAAP and IFRS that affect the Deutsche Telekom Group are explained below:

 

Deferred revenue.

 

                    The main difference between German GAAP and IFRS is the way up-front fees are recognized. Under German GAAP, the up-front fees are recognized as revenue on the date on which the line is activated. Under IFRS, on the other hand, the up-front fees and the incremental costs are accrued over the average duration of the customer relationship. This reduces shareholders’ equity in all of the periods presented. The net profit remains largely unaffected. In addition, differences in the treatment of long-term construction contracts, leases and multiple-element arrangements have an impact on revenue. In total, the differing revenue recognition leads to a revenue decrease of EUR 0.3 billion in 2003 and EUR 0.5 billion in 2004.

 

Goodwill and mobile communications licenses.

 

                    In contrast to German GAAP, under IFRS U.S. mobile communications licenses are not amortized on account of their indefinite useful life but instead are reviewed for impairment once a year (“impairment-only approach”). For this reason, the amortization and impairment of the U.S. mobile communications licenses charged in accordance with German GAAP as of January 1, 2003 were reversed. This increased the carrying amount of the U.S. mobile communications licenses at January 1, 2003 by EUR 9.9 billion.

 

                    Goodwill is not amortized under IFRS, in contrast to German GAAP, due to its indefinite useful life. Instead, goodwill is tested for impairment once annually and, if a triggering event exists, during the year.

 

                    The impairment test performed in accordance with IFRS resulted in an impairment of the T-Mobile USA of EUR 5.0 billion as of January 1, 2003 and of EUR 0.8 billion as of December 31, 2003 which was recognized through a reduction in the goodwill carrying amount. As part of the winding up of the U.S. mobile communications joint venture with Cingular Wireless in 2004 and the ensuing transfer of mobile communications licenses, these assets were written down by EUR 1.3 billion.

 

                    The impairment test of the unit T-Mobile UK, which is part of the T-Mobile division, resulted in an impairment under IFRS of EUR 0.6 billion as of January 1, 2003 and EUR 2.2 billion as of December 31, 2004.

 

                    The impairment test of the unit T-Mobile Netherlands, which is part of the T-Mobile division, resulted in an impairment under IFRS as of January 1, 2003 which was recognized through a reduction of EUR 0.1 billion in the goodwill carrying amount.

 

                    The impairment test of the unit MATÁV, which is part of the T-Com division, resulted in impairment under IFRS of EUR 0.3 billion as of January 1, 2003 and of EUR 0.2 billion as of December 31, 2003; the impairment test of the Slovak Telecom unit, which is part of the T-Com division, resulted in impairment under IFRS of EUR 0.2 billion as of December 31, 2004. These impairments were recognized through a goodwill write-down.

 

Unaudited and preliminary figures

7



 

                    UMTS licenses are amortized as before due to their defined economic life. Under IFRS, however, they may only be amortized from the time the UMTS network is put into operation, rather than from the time of their acquisition. The amortization and write-downs charged as of January 1, 2003 have therefore been reversed. This reversal led to an increase of EUR 4.1 billion in the carrying amounts of the UMTS licenses as of January 1, 2003. The UMTS licenses were put into operation in 2004; as a result, the UMTS licenses were amortized under IFRS for the first time in the 2004 financial year by EUR 0.5 billion.

 

                    The total effects from goodwill and mobile communications licenses result, in comparison with German GAAP, in a positive effect on shareholders’ equity of EUR 8.0 billion as of January 1, 2003, EUR 9.6 billion as of December 31, 2003 and EUR 6.7 billion as of December 31, 2004.

 

Software.

 

                    Recognizing internally generated software, which is not permissible under German GAAP, increases shareholders’ equity under IFRS in all of the periods presented. In the periods following the recognition, the net profit under IFRS remains largely unaffected.

 

Borrowing costs.

 

                    The fact that Deutsche Telekom does not make use of the option under IFRS to recognize borrowing costs results in adjustments. Under German GAAP, borrowing costs accounted for during the construction period were recognized. Not recognizing borrowing costs reduces shareholders’ equity under IFRS in all periods. The lower amortization than under German GAAP increases the net profit in future periods.

 

Measurement of investments in companies not fully consolidated and not accounted for in the consolidated financial statements under the equity method

 

                    Investments in companies not fully consolidated and not accounted for in the consolidated financial statements under the equity method must be measured at fair value according to IFRS. As a rule, the resulting unrealized gains and losses are recognized directly in shareholders’ equity. According to German GAAP, these assets are valued at purchase cost or, if appropriate, at the lower fair value. As a result of the different accounting policies used under IFRS and German GAAP, the IFRS shareholders’ equity increases in all of the periods presented.

 

Unaudited and preliminary figures

8



 

Leasing.

 

                    A considerably larger number of leases tend to be classified as finance leases under IFRS than under German GAAP. While in an operating lease it is the lessor that recognizes the asset, it is the lessee that recognizes the asset in a finance lease.

 

                    Deutsche Telekom has entered into sale and leaseback transactions in connection with its real estate portfolio. Under German GAAP, these transactions were usually treated as a sale of the real estate that was subsequently leased back, whereas under IFRS the buildings must be classified as finance leases and the land as operating leases. Under IFRS, this results in the recognition of interest expense and a depreciation charge for the buildings and the recognition of rental expense for the land; the disposal gain must be spread over the term of the lease. Under German GAAP, gains or losses from the sale of real estate are recorded directly, as is rental expense.

 

                    This reduces shareholders’ equity and the net profit under IFRS in all of the periods presented.

 

Provisions.

 

                    Provisions must be recognized for pension obligations under both German GAAP and IFRS. Under German commercial law, Deutsche Telekom’s pension obligations were calculated in accordance with the provisions of SFAS 87. Differences between the carrying amounts under IFRS and SFAS 87 arise in particular from the different treatment of actuarial gains and losses and the fact that the additional minimum liability is not recognized under IFRS. This reduces shareholders’ equity in the opening consolidated balance sheet under IFRS and increases it at the two other reporting dates presented. The net profit increases in both periods presented.

 

                    In the other provisions, it is primarily the restructuring provisions that increase shareholders’ equity in all of the periods presented because the recognition of restructuring provisions under IFRS is subject to more detailed and stricter criteria than under German GAAP. Furthermore, provisions for future expenses that may be recognized under German GAAP are not carried under IFRS.

 

Other IFRS adjustments.

 

                    Other IFRS adjustments relate, for example, to the different accounting principles regarding asset-backed securities (ABS) transactions, derivatives and the value of property, plant, and equipment. All in all this increased shareholders’ equity in all of the periods presented. The net profit remains largely unaffected.

 

Deferred taxes.

 

                    The differences in the definition of deferred taxes under IFRS and German GAAP relate in particular to Deutsche Telekom AG’s “contribution goodwill”, tax loss carryforwards, and general recognition and measurement differences between IFRS and German GAAP.

 

                    As a result of the privatization of Deutsche Telekom AG, goodwill was recognized in the tax accounts (“contribution goodwill”), yet no goodwill is to be capitalized in Deutsche Telekom AG’s consolidated balance sheets under IFRS. Deutsche Telekom recognizes deferred taxes on this temporary difference in accordance with IAS 12.

 

Unaudited and preliminary figures

9



 

                    Furthermore, under IFRS – in contrast to German GAAP – deferred tax assets are recognized on future expected tax reductions from the deduction of tax loss carryforwards.

 

                    The recognition of deferred taxes of EUR 9.1 billion as of January 1, 2003 leads to an increase in shareholders’ equity under IFRS; the item income tax expense in the income statement increases as a result of the amortization of deferred tax assets in all of the periods presented.

 

                    The deferred taxes recognized on measurement differences primarily relate to deferred tax liabilities on measurement differences between IFRS and German GAAP in connection with the realized hidden reserves for U.S. mobile communications licenses. The recognition of these deferred tax liabilities reduces shareholders’ equity under IFRS as of January 1, 2003 by EUR 7.9 billion. Since these licenses are not amortized, the deferred tax liabilities are initially not released. The impairment recognized under IFRS in 2004 and the reversal of the write-up of these licenses under German GAAP resulted in the corresponding release of the deferred tax liabilities and, consequently, in a decrease in income taxes.

 

Net debt.

 

                    In addition to the shareholders’ equity and net profit, the amount and the composition of the Group’s net debt also changes as a result of the conversion of the accounting to IFRS. The main issues for the Deutsche Telekom Group that change net debt at the dates under review are explained below:

 

Lease liabilities.

 

                    In the case of a finance lease, the assets are measured at the lower of the fair value of the leased property and the present value of the minimum lease payments in the lessee’s balance sheet. At the same time, a lease liability is recognized. As a result, Deutsche Telekom’s net debt as of December 31, 2004 increases by around EUR 2.5 billion and as of December 31, 2003 by around EUR 2.4 billion.

 

Liabilities arising from ABS transactions.

 

                    As part of asset-backed securities (ABS) transactions, mostly financial assets are sold to a special-purpose entity (SPE). The SPE refinances itself on the capital market. Under IFRS, SPEs must generally be consolidated by the economic beneficiary. In total, there are three SPEs arising from ABS transactions that have to be consolidated by Deutsche Telekom. The capital market liabilities recognized by the SPEs increase Deutsche Telekom’s net debt as of December 31, 2004 by around EUR 1.6 billion and as of December 31, 2003 by around EUR 1.2 billion.

 

Other IFRS differences.

 

               The other differences primarily consist of the more extensive incorporation of derivatives as well as the cash collaterals included in other financial assets with regard to ABS transactions. The other differences increase net debt as of December 31, 2004 by EUR 0.3 billion and as of December 31, 2003 by around EUR 0.5 billion.

 

Unaudited and preliminary figures

10



 

Deutsche Telekom’s strategic realignment.

 

The telecommunications industry is characterized by technology changes and a dynamic competitive environment. Deutsche Telekom is implementing a paradigm change – from a technology corporation to become a customer-centric services provider – to put its business on a long-term sustainable footing.

 

In terms of customer perception, the technology itself is becoming less and less important. Customers are above all interested in the benefits of an application. Deutsche Telekom has set itself the goal of becoming the leading services company in its industry to be the fastest growing European telecommunications company. The focus has been on three strategic business units since the beginning of 2005:

 

                    Broadband/Fixed Network covered by T-Com and T-Online for the consumer segment

 

                    Mobile Communications by T-Mobile

 

                    Business Customers by T-Systems Business Services for medium-sized and large businesses and T-Systems Enterprise Services for multinational corporations.

 

The new Group structure allows Deutsche Telekom to focus clearly on the key growth areas in its industry, and thus to lay the foundations for profitable growth. At the same time, the individual strategic business units are increasingly gearing their activities to the customer segments defined by Deutsche Telekom. This is the course Deutsche Telekom has set to achieve comprehensive customer centricity, which it has made the yardstick throughout the Group internationally.

 

The goal is to generate added value for its customers and to cultivate profitable growth for the company:

 

Broadband.

 

                    In the past four years, Deutsche Telekom has developed broadband communication into a mass market in Germany. In the future, Deutsche Telekom will be able to offer its customers an even broader portfolio of information, communication and entertainment services for the home. The selection ranges from personalized Internet services to movies and TV programs via broadband access.

 

Mobile Communications.

 

                    Deutsche Telekom has set a similar trend in mobile communications. Up to now, this market has featured different technologies and networks – GSM, UMTS and WLAN. For customers, the underlying technology is basically of no relevance whatsoever. All they want is to use top-quality mobile services at a reasonable price. T-Mobile will therefore focus its activities to an even greater extent on providing excellent services that are straightforward and easy to use, but nonetheless create considerable added value for the customer.

 

Business Customers.

 

                    The new structure enables T-Systems, the Group unit responsible for business customers, to take a coordinated approach to marketing, and thus refine its customer support. In the extremely complex business customer segment, the company ensures customer proximity with the principle of one-stop shopping: one contact person, regardless of whether the customer requires information technology or telecommunications services. With its service portfolio, T-Systems can provide the full spectrum of ICT products and services on an integrated basis under the “business flexibility” performance promise. Our business customers are therefore able to tap added value as a result of being able to shape their business activities more flexibly and efficiently.

 

Unaudited and preliminary figures

11



 

FY 2003. Reconciliation Group and business units.

 

 

 

Adjusted

 

Special influences

 

Unadjusted

 

Group

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

55,838

 

(335

)

1

 

55,503

 

 

 

 

 

 

 

 

 

55,838

 

(335

)

1

 

55,503

 

Cost of sales

 

(31,233

)

1,886

 

 

 

(29,347

)

(169

)

147

 

15

 

(22

)

(31,402

)

2,033

 

 

 

(29,369

)

Gross profit from sales

 

24,605

 

1,551

 

 

 

26,156

 

(169

)

147

 

 

 

(22

)

24,436

 

1,698

 

 

 

26,134

 

Selling costs

 

(13,420

)

678

 

 

 

(12,742

)

(85

)

80

 

16

 

(5

)

(13,505

)

758

 

 

 

(12,747

)

General administrative costs

 

(4,635

)

120

 

 

 

(4,515

)

(341

)

260

 

17

 

(81

)

(4,976

)

380

 

 

 

(4,596

)

Other operating income

 

3,402

 

(1,551

)

 

 

1,851

 

1,156

 

(648

)

18

 

508

 

4,558

 

(2,199

)

 

 

2,359

 

Other operating expenses

 

(4,710

)

3,202

 

 

 

(1,508)

 

(374

)

(883

)

19

 

(1,257

)

(5,084

)

2,319

 

 

 

(2,765

)

Operating results

 

5,242

 

4,000

 

2

 

9,242

 

187

 

(1,044

)

 

 

(857

)

5,429

 

2,956

 

2

 

8,385

 

Financial income (expense), net

 

(4,120

)

(758

)

3

 

(4,878

)

89

 

542

 

20

 

631

 

(4,031

)

(216

)

3

 

(4,247

)

of which interest expenses

 

(3,776

)

(104

)

 

 

(3,880

)

0

 

0

 

 

 

0

 

(3,776

)

(104

)

 

 

(3,880

)

Income (loss) before income taxes

 

1,122

 

3,242

 

4

 

4,364

 

276

 

(502

)

21

 

(226

)

1,398

 

2,740

 

4

 

4,138

 

Income taxes

 

(530

)

(1,104

)

5

 

(1,634

)

755

 

(865

)

22

 

(110

)

225

 

(1,969

)

5

 

(1,744

)

Income (loss) after taxes

 

592

 

2,138

 

6

 

2,730

 

1,031

 

(1,367

)

 

 

(336

)

1,623

 

771

 

6

 

2,394

 

Income (losses) applicable to minority shareholders

 

(370

)

(87

)

7

 

(457

)

0

 

0

 

23

 

0

 

(370

)

(87

)

7

 

(457

)

Net income (loss)

 

222

 

2,051

 

8

 

2,273

 

1,031

 

(1,367

)

24

 

(336

)

1,253

 

684

 

8

 

1,937

 

EBIT

 

5,404

 

3,838

 

9

 

9,242

 

187

 

(1,044

)

25

 

(857

)

5,591

 

2,794

 

9

 

8,385

 

EBIT margin

 

9.7

%

7.0

%pts

 

 

16.7

%

 

 

 

 

 

 

 

 

10.0

%

5.1

%pts

 

 

15.1

%

EBITDA

 

18,288

 

284

 

10

 

18,572

 

187

 

(70

)

26

 

117

 

18,475

 

214

 

10

 

18,689

 

EBITDA margin

 

32.8

%

0.7

%pts

 

 

33.5

%

 

 

 

 

 

 

 

 

33.1

%

0.6

%pts 

 

 

33.7

%

Depreciation and amortization

 

(12,884

)

3,554

 

11

 

(9,330

)

0

 

(974

)

27

 

(974

)

(12,884

)

2,580

 

11

 

(10,304

)

Capex

 

6,234

 

1,268

 

12

 

7,502

 

 

 

 

 

 

 

 

 

6,234

 

1,268

 

12

 

7,502

 

Free cash flow before dividend

 

8,285

 

406

 

13

 

8,691

 

 

 

 

 

 

 

 

 

8,285

 

406

 

13

 

8,691

 

Net debt (billions of €)

 

46.6

 

4.1

 

14

 

50.7

 

 

 

 

 

 

 

 

 

46.6

 

4.1

 

14

 

50.7

 

 

GHS

 

GHS
Ger. GAAP

 

Delta
IFRS

 

FN

 

GHS
IFRS old

 

-
Billing &
collection

 

GHS
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

4,268

 

(2

)

77

 

4,266

 

995

 

3,271

 

Net revenue

 

304

 

2

 

78

 

306

 

71

 

235

 

EBITDA

 

(276

)

163

 

79

 

(113

)

283

 

(396

)

EBITDA margin

 

(6.5

)%

3.8

%pts

 

 

(2.6

)%pts

28.4

%

(12.1

)%

Special factors affecting EBITDA

 

40

 

67

 

81

 

107

 

0

 

107

 

Adj. EBITDA

 

(316

)

96

 

82

 

(220

)

283

 

(503

)

Adj. EBITDA margin

 

(7.4

)%

2.2

%pts

 

 

(5.2

)%

28.4

%

(15.4

)%

Depreciation and amortization

 

(881

)

61

 

84

 

(820

)

(49

)

(771

)

Financial income (expense), net

 

(2,877

)

(452

)

85

 

(3,329

)

(1

)

3,328

 

Income (loss) before income taxes

 

(4,071

)

(191

)

86

 

(4,262

)

233

 

(4,495

)

Capex

 

416

 

479

 

87

 

895

 

33

 

862

 

Number of employees (average)

 

25,203

 

0

 

 

 

25,203

 

1,294

 

23,909

 

 

 

 

 

 

 

 

 

 

 

to T-Systems

 

 

 

 

Consolidation

 

Consolidation
Ger. GAAP

 

Delta
IFRS

 

FN

 

Consolidation
IFRS old

 

Delta
new
structure

 

Consolidation
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

(12,879

)

(286

)

 

 

(13,165

)

(33

)

(13,198

)

Net revenue

 

0

 

0

 

 

 

0

 

0

 

0

 

EBITDA

 

(176

)

90

 

 

 

(86

)

69

 

(17

)

Special factors affecting EBITDA

 

(28

)

(11

)

 

 

24

 

22

 

0

 

Adj. EBITDA

 

(148

)

86

 

 

 

(62

)

62

 

(17

)

Depreciation and amortization

 

291

 

(242

)

 

 

49

 

(1

)

48

 

Financial income (expense), net

 

311

 

(235

)

 

 

76

 

0

 

76

 

Income (loss) before income taxes

 

425

 

(386

)

 

 

39

 

68

 

107

 

Capex

 

(64

)

25

 

 

 

(39

)

(70

)

(109

)

 

Unaudited and preliminary figures

12



 

Business unit
Broadband/Fixed Network

 

T-Online

 

T-Online
Ger. GAAP

 

Delta
IFRS

 

FN

 

T-Online
IFRS

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,851

 

0

 

37

 

1,851

 

Net revenue

 

1,662

 

1

 

38

 

1,663

 

EBITDA

 

335

 

4

 

39

 

339

 

EBITDA margin

 

18.1

%

0.2

%pts

 

 

18.3

%

Special factors affecting EBITDA

 

25

 

(1

)

40

 

24

 

Adj. EBITDA

 

310

 

5

 

41

 

315

 

Adj. EBITDA margin

 

16.7

%

0.3

%pts

 

 

17.0

%

Depreciation and amortization

 

(430

)

348

 

42

 

(82

)

Financial income (expense), net

 

200

 

(54

)

43

 

146

 

Income (loss) before income taxes

 

104

 

299

 

44

 

403

 

Capex

 

81

 

9

 

45

 

90

 

Number of employees (average)

 

2,637

 

0

 

 

 

2,637

 

 

 

 

 

 

 

 

 

to T-Com

 

 

T-Com

 

T-Com
Ger. GAAP
old

 

-
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Com
IFRS old

 

+
Global
Network
factory, ICSS
and NWS

 

-
NetPro
small/
medium
enterprises

 

Consolidation

 

T-Com
IFRS new

 

+
T-Online
IFRS

 

Consolidation

 

Broadband/
Fixed
Network
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

29,206

 

1,187

 

(135

)

28

 

27,884

 

1,884

 

2,730

 

168

 

27,206

 

1,851

 

(762

)

28,295

 

of which domestic

 

25,351

 

0

 

(126

)

 

 

25,225

 

 

 

 

 

n.a.

 

24,599

 

1,682

 

(762

)

25,519

 

of which international

 

3,855

 

1,187

 

(9

)

 

 

2,659

 

 

 

 

 

n.a.

 

2,607

 

169

 

0

 

2,776

 

Net revenue

 

25,116

 

 

 

(1,420

)

29

 

23,696

 

793

 

2,955

 

0

 

21,534

 

1,663

 

0

 

23,197

 

EBITDA

 

10,164

 

598

 

253

 

30

 

9,819

 

187

 

(73

)

1

 

10,080

 

339

 

(51

)

10,368

 

of which domestic

 

8,541

 

0

 

310

 

 

 

8,851

 

 

 

 

 

n.a.

 

9,111

 

385

 

(51

)

9,445

 

of which international

 

1,623

 

598

 

(57

)

 

 

968

 

 

 

 

 

n.a.

 

969

 

(46

)

0

 

923

 

EBITDA margin

 

34.8

%

50.4

%

 

 

 

 

35.2

%

9.9

%

(2.7

)%

 

 

37.1

%

18.3

%

 

 

36.6

%

Special factors affecting EBITDA

 

(192

)

0

 

135

 

31

 

(57

)

0

 

17

 

34

 

(40

)

24

 

(24

)

(40

)

Adj. EBITDA

 

10,356

 

598

 

118

 

32

 

9,876

 

187

 

(90

)

(33

)

10,120

 

315

 

(27

)

10,408

 

of which domestic

 

8,667

 

0

 

175

 

 

 

8,842

 

 

 

 

 

n.a.

 

9,085

 

361

 

(27

)

9,419

 

of which international

 

1,689

 

598

 

(57

)

 

 

1,034

 

 

 

 

 

n.a.

 

1,035

 

(46

)

0

 

989

 

Adj. EBITDA margin

 

35.5

%

50.4

%

 

 

 

 

35.4

%

9.9

%

(3.3

)%

 

 

37.2

%

17.0

%

 

 

36.8

%

Depreciation and amortization

 

(5,169

)

(295

)

213

 

33

 

(4,661

)

(65

)

(64

)

(3

)

(4,665

)

(82

)

0

 

(4,747

)

Financial income (expense), net

 

(284

)

(286

)

(155

)

34

 

(153

)

(7

)

78

 

77

 

(161

)

146

 

0

 

(15

)

Income (loss) before income taxes

 

4,690

 

17

 

332

 

35

 

5,005

 

115

 

(59

)

75

 

5,254

 

403

 

(51

)

5,606

 

Capex

 

2,129

 

229

 

(30

)

36

 

1,870

 

17

 

51

 

3

 

1,839

 

90

 

65

 

1,994

 

of which domestic

 

1,516

 

0

 

(33

)

 

 

1,483

 

 

 

 

 

n.a.

 

1,452

 

71

 

65

 

1,588

 

of which international

 

613

 

229

 

3

 

 

 

387

 

 

 

 

 

n.a.

 

387

 

19

 

0

 

406

 

Number of employees (average)

 

139,548

 

3,132

 

0

 

 

 

136,416

 

880

 

11,868

 

0

 

125,428

 

2,637

 

0

 

128,064

 

of which domestic

 

106,571

 

0

 

0

 

 

 

106,571

 

880

 

11,868

 

0

 

95,583

 

1,937

 

0

 

97,520

 

 

 

 

 

to T-Mobile

 

 

 

 

 

 

 

from T-Systems

 

to T-Systems

 

 

 

 

 

from T-Online

 

 

 

 

 

 

Unaudited and preliminary figures

13



 

Business unit
Mobile Communications

 

T-MObile

 

T-Mobile
Ger. GAAP

 

+
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Mobile
IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

22,778

 

1,475

 

(55

)

46

 

24,198

 

Net revenue

 

21,572

 

1,287

 

(55

)

47

 

22,804

 

EBITDA

 

7,016

 

603

 

(417

)

48

 

7,202

 

EBITDA margin

 

30.8

%

40.9

%

 

 

 

 

29.8

%

Special factors affecting EBITDA

 

345

 

0

 

(345

)

49

 

0

 

Adj. EBITDA

 

6,671

 

603

 

(72

)

50

 

7,202

 

Adj. EBITDA margin

 

29.3

%

40.9

%

 

 

 

 

29.8

%

Depreciation and amortization

 

(5,196

)

(292

)

1,720

 

51

 

(3,768

)

Financial income (expense), net

 

(895

)

(18

)

448

 

52

 

(465

)

Income (loss) before income taxes

 

831

 

293

 

1,845

 

53

 

2,969

 

Capex

 

3,012

 

222

 

586

 

54

 

3,820

 

Number of employees (average)

 

41,767

 

3,132

 

0

 

 

 

44,899

 

 

 

 

 

from T-Com

 

 

 

 

 

 

 

 

Business unit
Business
Customers

 

T-Systems

 

T-Systems
Ger. GAAP
old

 

Delta
IFRS

 

FN

 

T-Systems
IFRS old

 

-
Global
Network
factory, ICSS
and NWS

 

+
Billing &
collection

 

+
NetPro
small/
medium
enterprises

 

Consolidation

 

Business
Customers
IFRS new

 

Enterprise
Services

 

Business
Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

10,614

 

(145

)

67

 

10,469

 

1,604

 

1,007

 

4,463

 

(1,398

)

12,937

 

8,235

 

4,702

 

Net revenue

 

7,184

 

(150

)

68

 

7,034

 

793

 

71

 

2,955

 

0

 

9,267

 

4,696

 

4,571

 

EBITDA

 

1,412

 

116

 

69

 

1,528

 

232

 

283

 

(27

)

(20

)

1,532

 

1,383

 

149

 

EBITDA margin

 

13.3

%

1.3

%pts

 

 

14.6

%

14.5

%

28.1

%

(0.6

)%

 

 

11.8

%

16.8

%

3.2

%

Special factors affecting EBITDA

 

(3

)

70

 

70

 

67

 

0

 

0

 

(17

)

0

 

50

 

(39

)

89

 

Adj. EBITDA

 

1,415

 

46

 

71

 

1,461

 

232

 

283

 

(10

)

(20

)

1,482

 

1,422

 

60

 

Adj. EBITDA margin

 

13.3

%

0.6

%pts

 

 

14.0

%

14.5

%

28.1

%

(0.2

)%

 

 

11.5

%

17.3

%

1.3

%

Depreciation and amortization

 

(1,499

)

477

 

72

 

(1,022

)

(65

)

(49

)

(64

)

4

 

(1,066

)

(796

)

(272

)

EBIT

 

(87

)

593

 

73

 

506

 

167

 

234

 

(91

)

(15

)

466

 

589

 

(123

)

Financial income (expense), net

 

(486

)

(36

)

74

 

(522

)

(7

)

0

 

1

 

0

 

(515

)

(374

)

5

 

Income (loss) before income taxes

 

(581

)

565

 

75

 

(15

)

161

 

233

 

(91

)

(16

)

(49

)

215

 

(118

)

Capex

 

660

 

206

 

76

 

866

 

17

 

33

 

50

 

2

 

934

 

768

 

166

 

Number of employees (average)

 

42,108

 

0

 

 

 

42,108

 

880

 

1,294

 

11,868

 

0

 

54,390

 

36,554

 

17,836

 

 

 

 

 

 

 

 

 

 

 

to T-Com

 

from GHS

 

from T-Com

 

 

 

 

 

 

 

 

 

 

All figures in millions of €,

calculated and rounded on the basis of precise figures

 

 

Unaudited and preliminary figures

14



 

Q1 2004. Reconciliation Group and business units.

 

 

 

Adjusted

 

Special influences

 

Unadjusted

 

Group

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

13,986

 

(96

)

1

 

13,890

 

 

 

 

 

 

 

 

 

13,986

 

(96

)

1

 

13,890

 

Cost of sales

 

(7,570

)

351

 

 

 

(7,219

)

0

 

0

 

15

 

0

 

(7,570

)

351

 

 

 

(7,219

)

Gross profit from sales

 

6,416

 

255

 

 

 

6,671

 

0

 

0

 

 

 

0

 

6,416

 

255

 

 

 

6,671

 

Selling costs

 

(3,295

)

88

 

 

 

(3,207

)

0

 

0

 

16

 

0

 

(3,295

)

88

 

 

 

(3,207

)

General administrative costs

 

(1,105

)

71

 

 

 

(1,034

)

0

 

0

 

17

 

0

 

(1,105

)

71

 

 

 

(1,034

)

Other operating income

 

731

 

(370

)

 

 

361

 

0

 

0

 

18

 

0

 

731

 

(370

)

 

 

361

 

Other operating expenses

 

(1,222

)

916

 

 

 

(306

)

(69

)

0

 

19

 

(69

)

(1,291

)

916

 

 

 

(375

)

Operating results

 

1,525

 

960

 

2

 

2,485

 

(69

)

0

 

 

 

(69

)

1,456

 

960

 

2

 

2,416

 

Financial income (expense), net

 

(1,110

)

(114

)

3

 

(1,224

)

0

 

0

 

20

 

0

 

(1,110

)

(114

)

3

 

(1,224

)

of which interest expenses

 

(973

)

36

 

 

 

(937

)

0

 

0

 

 

 

0

 

(973

)

36

 

 

 

(937

)

Income (loss) before income taxes

 

415

 

846

 

4

 

1,261

 

(69

)

0

 

21

 

(69

)

346

 

846

 

4

 

1,192

 

Income taxes

 

(91

)

(349

)

5

 

(440

)

11

 

(1

)

22

 

10

 

(80

)

(350

)

5

 

(430

)

Income (loss) after taxes

 

324

 

497

 

6

 

821

 

(58

)

(1

)

 

 

(59

)

266

 

496

 

6

 

762

 

Income (losses) applicable to minority shareholders

 

(97

)

(33

)

7

 

(130

)

0

 

0

 

23

 

0

 

(97

)

(33

)

7

 

(130

)

Net income (loss)

 

227

 

464

 

8

 

691

 

(58

)

(1

)

24

 

(59

)

169

 

463

 

8

 

632

 

EBIT

 

1,569

 

916

 

9

 

2,485

 

(69

)

0

 

25

 

(69

)

1,500

 

916

 

9

 

2,416

 

EBIT margin

 

11.2

%

6.7

%pts

 

 

17.9

%

 

 

 

 

 

 

 

 

10.7

%

6.7

%pts

 

 

17.4

%

EBITDA

 

4,585

 

90

 

10

 

4,675

 

(69

)

0

 

26

 

(69

)

4,516

 

90

 

10

 

4,606

 

EBITDA margin

 

32.8

%

0.9

%pts

 

 

33.7

%

 

 

 

 

 

 

 

 

32.3

%

0.9

%pts

 

 

33.2

%

Depreciation and amortization

 

(3,016

)

826

 

11

 

(2,190

)

0

 

0

 

27

 

0

 

(3,016

)

826

 

11

 

(2,190

)

Capex

 

1,019

 

(109

)

12

 

910

 

 

 

 

 

 

 

 

 

1,019

 

(109

)

12

 

910

 

Free cash flow before dividend

 

2,900

 

51

 

13

 

2,951

 

 

 

 

 

 

 

 

 

2,900

 

51

 

13

 

2,951

 

Net debt (billions of €)

 

44.6

 

4.3

 

14

 

48.9

 

 

 

 

 

 

 

 

 

44.6

 

4.3

 

14

 

48.9

 

 

GHS

 

GHS
Ger. GAAP

 

Delta
IFRS

 

FN

 

GHS
IFRS old

 

-
Billing &
collection

 

GHS
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,090

 

(5

)

77

 

1,085

 

219

 

866

 

Net revenue

 

80

 

0

 

78

 

80

 

18

 

62

 

EBITDA

 

(163

)

98

 

79

 

(65

)

55

 

(120

)

of which Vivento

 

(250

)

42

 

80

 

(208

)

0

 

(208

)

EBITDA margin

 

(15.0

)%

9.0

%pts

 

 

(6.0

)%

25.1

%

(13.9

)%

Special factors affecting EBITDA

 

(33

)

0

 

81

 

(33

)

0

 

(33

)

Adj. EBITDA

 

(130

)

98

 

82

 

(32

)

55

 

(87

)

of which Vivento

 

(217

)

42

 

83

 

(175

)

0

 

(175

)

Adj. EBITDA margin

 

(11.9

)%

9.0

%pts

 

 

(2.9

)%

25.1

%

(10.0

)%

Depreciation and amortization

 

(212

)

0

 

84

 

(212

)

(8

)

(204

)

Financial income (expense), net

 

(768

)

(44

)

85

 

(812

)

0

 

(812

)

Income (loss) before income taxes

 

(1,156

)

67

 

86

 

(1,089

)

47

 

(1,136

)

Capex

 

57

 

4

 

87

 

61

 

3

 

58

 

Number of employees (average)

 

36,239

 

0

 

 

 

36,239

 

1,320

 

34,919

 

 

 

 

 

 

 

 

 

 

 

to T-Systems

 

 

 

 

Consolidation

 

Consolidation
Ger. GAAP

 

Delta
IFRS

 

FN

 

Consolidation
IFRS old

 

Delta
new
structure

 

Consolidation
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

(2,991

)

(61

)

 

 

(3,052

)

(212

)

(3,264

)

Net revenue

 

0

 

0

 

 

 

0

 

0

 

0

 

EBITDA

 

(23

)

(26

)

 

 

(49

)

(1

)

(50

)

Special factors affecting EBITDA

 

0

 

0

 

 

 

0

 

(3

)

(3

)

Adj. EBITDA

 

(23

)

(26

)

 

 

(49

)

2

 

(47

)

Depreciation and amortization

 

63

 

(52

)

 

 

11

 

2

 

13

 

Financial income (expense), net

 

61

 

(293

)

 

 

(232

)

(1

)

(233

)

Income (loss) before income taxes

 

100

 

(370

)

 

 

(270

)

0

 

(270

)

Capex

 

(13

)

(36

)

 

 

(49

)

1

 

(48

)

 

Unaudited and preliminary figures

15


 

Business unit
Broadband/Fixed Network

 

T-Online

 

T-Online
Ger. GAAP

 

Delta
IFRS

 

FN

 

T-Online
IFRS

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

493

 

(4

)

37

 

489

 

Net revenue(1)

 

453

 

(5

)

38

 

448

 

EBITDA

 

119

 

(1

)

39

 

118

 

EBITDA margin

 

24.1

%

0.0

%pts

 

 

24.1

%

Special factors affecting EBITDA

 

0

 

0

 

40

 

0

 

Adj. EBITDA

 

119

 

(1

)

41

 

118

 

Adj. EBITDA margin

 

24.1

%

0.0

%pts

 

 

24.1

%

Depreciation and amortization

 

(109

)

87

 

42

 

(22

)

Financial income (expense), net

 

27

 

3

 

43

 

30

 

Income (loss) before income taxes

 

37

 

89

 

44

 

126

 

Capex

 

12

 

1

 

45

 

13

 

Number of employees (average)

 

2,918

 

0

 

 

 

2,918

 

 

 

 

 

 

 

 

 

to T-Com

 

 

T-Com

 

T-Com
Ger. GAAP
old

 

-
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Com IFRS old

 

+
Global
Network
factory, ICSS
and NWS

 

-
NetPro
small/
medium
enterprises

 

Consolidation

 

T-Com
IFRS new

 

+
T-Online
IFRS

 

Consolidation

 

Broadband/
Fixed
Network
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

6,975

 

286

 

(57

)

28

 

6,632

 

418

 

563

 

112

 

6,599

 

489

 

(147

)

6,941

 

of which domestic

 

6,059

 

0

 

(54

)

 

 

6,005

 

 

 

 

 

n.a.

 

5,982

 

439

 

(147

)

6,274

 

of which international

 

916

 

286

 

(3

)

 

 

627

 

 

 

 

 

n.a.

 

617

 

50

 

0

 

667

 

Net revenue

 

6,053

 

 

 

(368

)

29

 

5,685

 

196

 

676

 

0

 

5,205

 

448

 

0

 

5,653

 

EBITDA

 

2,605

 

149

 

(6

)

30

 

2,450

 

4

 

8

 

11

 

2,457

 

118

 

(16

)

2,559

 

of which domestic

 

2,181

 

0

 

3

 

 

 

2,184

 

 

 

 

 

n.a.

 

2,191

 

121

 

(16

)

2,296

 

of which international

 

424

 

149

 

(9

)

 

 

266

 

 

 

 

 

n.a.

 

266

 

(3

)

0

 

263

 

EBITDA margin

 

37.3

%

52.1

%

 

 

 

 

36.9

%

1.0

%

1.4

%

 

 

37.2

%

24.1

%

 

 

36.9

%

Special factors affecting EBITDA

 

(36

)

0

 

0

 

31

 

(36

)

0

 

4

 

7

 

(33

)

0

 

0

 

(33

)

Adj. EBITDA

 

2,641

 

149

 

(6

)

32

 

2,486

 

4

 

4

 

4

 

2,490

 

118

 

(16

)

2,592

 

of which domestic

 

2,217

 

0

 

3

 

 

 

2,220

 

 

 

 

 

n.a.

 

2,224

 

121

 

(16

)

2,329

 

of which international

 

424

 

149

 

(9

)

 

 

266

 

 

 

 

 

n.a.

 

266

 

(3

)

0

 

263

 

Adj. EBITDA margin

 

37.9

%

52.1

%

 

 

 

 

37.5

%

1.0

%

0.7

%

 

 

37.7

%

24.1

%

 

 

37.3

%

Depreciation and amortization

 

(1,184

)

(50

)

78

 

33

 

(1,056

)

(17

)

(16

)

(1

)

(1,058

)

(22

)

(2

)

(1,082

)

Financial income (expense), net

 

(15

)

(278

)

(38

)

34

 

225

 

1

 

(11

)

(7

)

230

 

30

 

1

 

261

 

Income (loss) before income taxes

 

1,399

 

(179

)

41

 

35

 

1,619

 

(12

)

(19

)

3

 

1,629

 

126

 

(17

)

1,738

 

Capex

 

384

 

38

 

(1

)

36

 

345

 

4

 

6

 

2

 

345

 

13

 

0

 

358

 

of which domestic

 

292

 

0

 

(1

)

 

 

291

 

 

 

 

 

n.a.

 

291

 

7

 

0

 

298

 

of which international

 

92

 

38

 

0

 

 

 

54

 

 

 

 

 

n.a.

 

54

 

6

 

0

 

60

 

Number of employees (average)

 

125,700

 

3,185

 

0

 

 

 

122,515

 

628

 

11,313

 

0

 

111,830

 

2,918

 

0

 

114,748

 

of which domestic

 

94,506

 

0

 

0

 

 

 

94,506

 

628

 

11,313

 

0

 

83,821

 

2,107

 

0

 

85,928

 

 

 

 

 

to T-Mobile

 

 

 

 

 

 

 

from T-Systems

 

to T-Systems

 

 

 

 

 

from T-Online

 

 

 

 

 

 

Unaudited and preliminary Figures

16



 

Business unit
Mobile Communications

 

T-Mobile

 

T-Mobile
Ger. GAAP

 

+
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Mobile
IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

5,944

 

347

 

(19

)

46

 

6,272

 

Net revenue

 

5,678

 

306

 

(18

)

47

 

5,966

 

EBITDA

 

1,677

 

148

 

1

 

48

 

1,826

 

EBITDA margin

 

28.2

%

42.7

%

 

 

 

 

29.1

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

49

 

0

 

Adj. EBITDA

 

1,677

 

148

 

1

 

50

 

1,826

 

Adj. EBITDA margin

 

28.2

%

42.7

%

 

 

 

 

29.1

%

Depreciation and amortization

 

(1,234

)

(50

)

599

 

51

 

(685

)

Financial income (expense), net

 

(265

)

(5

)

(4

)

52

 

(274

)

Income (loss) before income taxes

 

156

 

93

 

618

 

53

 

867

 

Capex

 

452

 

42

 

(91

)

54

 

403

 

Number of employees (average)

 

43,152

 

3,185

 

0

 

 

 

46,337

 

 

 

 

 

from T-Com

 

 

 

 

 

 

 

 

Business unit
Business
Customers

 

T-Systems

 

T-Systems
Ger. GAAP
old

 

Delta
IFRS

 

FN

 

T-Systems
IFRS old

 

-
Global
Network
factory, ICSS
and NWS

 

+
Billing &
collection

 

+
NetPro
small/
medium
enterprises

 

Consolidation

 

Business
Customers
IFRS new

 

Enterprise
Services

 

Business
Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

2,475

 

(11

)

67

 

2,464

 

384

 

222

 

1,044

 

(271

)

3,075

 

1,907

 

1,168

 

Net revenue

 

1,722

 

(11

)

68

 

1,711

 

196

 

18

 

676

 

(1

)

2,209

 

1,147

 

1,062

 

EBITDA

 

301

 

25

 

69

 

326

 

16

 

56

 

19

 

5

 

390

 

319

 

71

 

EBITDA margin

 

12.2

%

1.1

%pts

 

 

13.2

%

4.2

%

25.3

%

1.8

%

 

 

12.7

%

16.7

%

6.1

%

Special factors affecting EBITDA

 

0

 

0

 

70

 

0

 

0

 

0

 

(3

)

0

 

(3

)

0

 

(3

)

Adj. EBITDA

 

301

 

25

 

71

 

326

 

16

 

56

 

22

 

5

 

393

 

319

 

74

 

Adj. EBITDA margin

 

12.2

%

1.1

%pts

 

 

13.2

%

4.2

%

25.3

%

2.1

%

 

 

12.8

%

16.7

%

6.3

%

Depreciation and amortization

 

(340

)

114

 

72

 

(226

)

(17

)

(8

)

(16

)

2

 

(232

)

(174

)

(58

)

EBIT

 

(39

)

139

 

73

 

100

 

(1

)

48

 

3

 

7

 

159

 

146

 

13

 

Financial income (expense), net

 

(150

)

(11

)

74

 

(161

)

0

 

0

 

(4

)

(1

)

(166

)

(131

)

(3

)

Income (loss) before income taxes

 

(190

)

129

 

75

 

(61

)

(1

)

48

 

(1

)

6

 

(7

)

14

 

9

 

Capex

 

127

 

10

 

76

 

137

 

4

 

2

 

6

 

(2

)

139

 

114

 

25

 

Number of employees (average)

 

40,352

 

0

 

 

 

40,352

 

628

 

1,320

 

11,313

 

0

 

52,357

 

35,110

 

17,247

 

 

 

 

 

 

 

 

 

 

 

to T-Com

 

from GHS

 

from T-Com

 

 

 

 

 

 

 

 

 

 

All figures in millions of €,
calculated and rounded on the basis of precise figures

 

 

Unaudited and preliminary Figures

17



 

 

Q2 2004. Reconciliation Group and business units.

 

 

 

Adjusted

 

Special influences

 

Unadjusted

 

Group

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

14,412

 

(35

)

1

 

14,377

 

 

 

 

 

 

 

 

 

14,412

 

(35

)

1

 

14,377

 

Cost of sales

 

(7,766

)

148

 

 

 

(7,618

)

0

 

(1,353

)

15

 

(1,353

)

(7,766

)

(1,205

)

 

 

(8,971

)

Gross profit from sales

 

6,646

 

113

 

 

 

6,759

 

0

 

(1,353

)

 

 

(1,353

)

6,646

 

(1,240

)

 

 

5,406

 

Selling costs

 

(3,274

)

202

 

 

 

(3,072

)

0

 

0

 

16

 

0

 

(3,274

)

202

 

 

 

(3,072

)

General administrative costs

 

(1,129

)

(19

)

 

 

(1,148

)

0

 

0

 

17

 

0

 

(1,129

)

(19

)

 

 

(1,148

)

Other operating income

 

780

 

(382

)

 

 

398

 

1,978

 

(1,903

)

18

 

75

 

2,758

 

(2,285

)

 

 

473

 

Other operating expenses

 

(1,308

)

933

 

 

 

(375

)

(606

)

606

 

19

 

0

 

(1,914

)

1,539

 

 

 

(375

)

Operating results

 

1,715

 

847

 

2

 

2,562

 

1,372

 

(2,650

)

 

 

(1,278

)

3,087

 

(1,803

)

2

 

1,284

 

Financial income (expense), net

 

(681

)

(107

)

3

 

(788

)

0

 

92

 

20

 

92

 

(681

)

(15

)

3

 

(696

)

of which interest expenses

 

(795

)

(124

)

 

 

(919

)

0

 

0

 

 

 

0

 

(795

)

(124

)

 

 

(919

)

Income (loss) before income taxes

 

1,034

 

740

 

4

 

1,774

 

1,372

 

(2,558

)

21

 

(1,186

)

2,406

 

(1,818

)

4

 

588

 

Income taxes

 

(213

)

(217

)

5

 

(430

)

(445

)

986

 

22

 

541

 

(658

)

769

 

5

 

111

 

Income (loss) after taxes

 

821

 

523

 

6

 

1,344

 

927

 

(1,572

)

 

 

(645

)

1,748

 

(1,049

)

6

 

699

 

Income (losses) applicable to minority shareholders

 

(93

)

(29

)

7

 

(122

)

0

 

0

 

23

 

0

 

(93

)

(29

)

7

 

(122

)

Net income (loss)

 

728

 

494

 

8

 

1,222

 

927

 

(1,572

)

24

 

(645

)

1,655

 

(1,078

)

8

 

577

 

EBIT

 

1,768

 

794

 

9

 

2,562

 

1,372

 

(2,650

)

25

 

(1,278

)

3,140

 

(1,856

)

9

 

1,284

 

EBIT margin

 

12.3

%

5.5

%pts

 

 

17.8

%

 

 

 

 

 

 

 

 

21.8

%

(12.9

)%pts

 

 

8.9

%

EBITDA

 

4,783

 

140

 

10

 

4,923

 

1,372

 

(1,297

)

26

 

75

 

6,155

 

(1,157

)

10

 

4,998

 

EBITDA margin

 

33.2

%

1.0

%pts

 

 

34.2

%

 

 

 

 

 

 

 

 

42.7

%

(7.9

)%pts

 

 

34.8

%

Depreciation and amortization

 

(3,015

)

654

 

11

 

(2,361

)

0

 

(1,353

)

27

 

(1,353

)

(3,015

)

(699

)

11

 

(3,714

)

Capex

 

1,517

 

163

 

12

 

1,680

 

 

 

 

 

 

 

 

 

1,517

 

163

 

12

 

1,680

 

Free cash flow before dividend

 

1,294

 

31

 

13

 

1,325

 

 

 

 

 

 

 

 

 

1,294

 

31

 

13

 

1,325

 

Net debt (billions of  €)

 

43.3

 

4.0

 

14

 

47.3

 

 

 

 

 

 

 

 

 

43.3

 

4.0

 

14

 

47.3

 

 

GHS

 

GHS
Ger. GAAP

 

Delta
IFRS

 

FN

 

GHS
IFRS old

 

-
Billing &
collection

 

GHS
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,154

 

(4

)

77

 

1,150

 

268

 

882

 

Net revenue

 

84

 

0

 

78

 

84

 

15

 

69

 

EBITDA

 

(81

)

30

 

79

 

(51

)

71

 

(122

)

of which Vivento

 

(261

)

32

 

80

 

(229

)

0

 

(229

)

EBITDA margin

 

(7.0

)%

2.6

%pts

 

 

(4.4

)%

26.5

%

(13.8

)%

Special factors affecting EBITDA

 

135

 

(92

)

81

 

43

 

0

 

43

 

Adj. EBITDA

 

(216

)

122

 

82

 

(94

)

71

 

(165

)

of which Vivento

 

(304

)

32

 

83

 

(272

)

0

 

(272

)

Adj. EBITDA margin

 

(18.7

)%

10.5

%pts

 

 

(8.2

)%

26.5

%

(18.7

)%

Depreciation and amortization

 

(173

)

(33

)

84

 

(206

)

(10

)

(196

)

Financial income (expense), net

 

(574

)

(78

)

85

 

(652

)

(1

)

(651

)

Income (loss) before income taxes

 

(839

)

(70

)

86

 

(909

)

60

 

(969

)

Capex

 

131

 

19

 

87

 

150

 

5

 

145

 

Number of employees (average)

 

34,976

 

0

 

 

 

34,976

 

2,189

 

32,787

 

 

 

 

 

 

 

 

 

 

 

to T-Systems

 

 

 

 

Consolidation

 

Consolidation
Ger. GAAP

 

Delta
IFRS

 

FN

 

Consolidation
IFRS old

 

Delta
new
structure

 

Consolidation
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

(2,986

)

(95

)

 

 

(3,081

)

(154

)

(3,235

)

Net revenue

 

0

 

0

 

 

 

0

 

0

 

0

 

EBITDA

 

(12

)

(25

)

 

 

(37

)

(5

)

(42

)

Special factors affecting EBITDA

 

0

 

0

 

 

 

0

 

0

 

0

 

Adj. EBITDA

 

(12

)

(25

)

 

 

(37

)

(5

)

(42

)

Depreciation and amortization

 

93

 

(81

)

 

 

12

 

1

 

13

 

Financial income (expense), net

 

(93

)

148

 

 

 

55

 

(2

)

53

 

Income (loss) before income taxes

 

(13

)

43

 

 

 

30

 

(6

)

24

 

Capex

 

9

 

47

 

 

 

56

 

(2

)

54

 

 

Unaudited and preliminary Figures

18



 

Business unit
Broadband/Fixed Network

 

T-Online

 

T-Online
Ger. GAAP

 

Delta
IFRS

 

FN

 

T-Online
IFRS

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

500

 

(1

)

37

 

499

 

Net revenue(1)

 

456

 

(1

)

38

 

455

 

EBITDA

 

128

 

1

 

39

 

129

 

EBITDA margin

 

25.6

%

0.3

%pts

 

 

25.9

%

Special factors affecting EBITDA

 

0

 

0

 

40

 

0

 

Adj. EBITDA

 

128

 

1

 

41

 

129

 

Adj. EBITDA margin

 

25.6

%

0.3

%pts

 

 

25.9

%

Depreciation and amortization

 

(111

)

87

 

42

 

(24

)

Financial income (expense), net

 

28

 

4

 

43

 

32

 

Income (loss) before income taxes

 

45

 

92

 

44

 

137

 

Capex

 

18

 

0

 

45

 

18

 

Number of employees (average)

 

2,945

 

0

 

 

 

2,945

 

 

 

 

 

 

 

 

 

to T-Com

 

 

T   Com

 

T-Com
Ger. GAAP
old

 

-
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Com
IFRS old

 

+
Global
Network
factory, ICSS
and NWS

 

-
NetPro
small/
medium
enterprises

 

Consoli-dation

 

T-

Com
IFRS new

 

+
T-Online
IFRS

 

Consoli-

dation

 

Broadband/
Fixed
Network
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

6,882

 

329

 

(9

)

28

 

6,544

 

396

 

602

 

132

 

6,470

 

499

 

(160

)

6,809

 

of which domestic

 

5,906

 

0

 

(12

)

 

 

5,894

 

 

 

 

 

n.a.

 

5,825

 

443

 

(159

)

6,109

 

of which international

 

976

 

329

 

3

 

 

 

650

 

 

 

 

 

n.a.

 

645

 

56

 

(1

)

700

 

Net revenue

 

6,054

 

 

 

(384

)

29

 

5,670

 

192

 

708

 

0

 

5,154

 

455

 

0

 

5,609

 

EBITDA

 

2,592

 

187

 

23

 

30

 

2,428

 

4

 

14

 

22

 

2,440

 

129

 

8

 

2,577

 

of which domestic

 

2,156

 

0

 

18

 

 

 

2,174

 

 

 

 

 

n.a.

 

2,186

 

130

 

8

 

2,324

 

of which international

 

436

 

187

 

5

 

 

 

254

 

 

 

 

 

n.a.

 

254

 

(1

)

0

 

253

 

EBITDA margin

 

37.7

%

56.8

%

 

 

 

 

37.1

%

5.6

%

2.3

%

 

 

37.7

%

25.9

%

 

 

37.8

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

31

 

0

 

0

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

2,592

 

187

 

23

 

32

 

2,428

 

22

 

14

 

4

 

2,440

 

129

 

8

 

2,577

 

of which domestic

 

2,156

 

0

 

18

 

 

 

2,174

 

 

 

 

 

n.a.

 

2,186

 

130

 

8

 

2,324

 

of which international

 

436

 

187

 

5

 

 

 

254

 

 

 

 

 

n.a.

 

254

 

(1

)

0

 

253

 

Adj. EBITDA margin

 

37.7

%

56.8

%

 

 

 

 

37.1

%

5.6

%

2.3

%

 

 

37.7

%

25.9

%

 

 

37.8

%

Depreciation and amortization

 

(1,204

)

(51

)

59

 

33

 

(1,094

)

(18

)

(16

)

0

 

(1,096

)

(24

)

(2

)

(1,122

)

Financial income (expense), net

 

28

 

1

 

(41

)

34

 

(14

)

(2

)

16

 

21

 

(11

)

32

 

(1

)

20

 

Income (loss) before income taxes

 

1,405

 

136

 

51

 

35

 

1,320

 

2

 

14

 

25

 

1,333

 

137

 

5

 

1,475

 

Capex

 

521

 

50

 

(12

)

36

 

459

 

3

 

16

 

1

 

447

 

18

 

0

 

465

 

of which domestic

 

380

 

0

 

(12

)

 

 

368

 

 

 

 

 

n.a.

 

356

 

13

 

(1

)

368

 

of which international

 

141

 

50

 

0

 

 

 

91

 

 

 

 

 

n.a.

 

91

 

5

 

1

 

97

 

Number of employees (average)

 

125,782

 

3,192

 

0

 

 

 

122,590

 

631

 

11,306

 

0

 

111,915

 

2,945

 

0

 

114,860

 

of which domestic

 

94,943

 

0

 

0

 

 

 

94,943

 

631

 

11,306

 

0

 

84,269

 

2,121

 

0

 

86,390

 

 

 

 

 

to T-Mobile

 

 

 

 

 

 

 

from T-Systems

 

to T-Systems

 

 

 

 

 

from

T-Online

 

 

 

 

 

 

Unaudited and preliminary Figures

19



 

Business unit
Mobile Communications

 

T Mobile

 

T-Mobile
Ger. GAAP

 

+
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Mobile
IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

6,237

 

398

 

14

 

46

 

6,649

 

Net revenue

 

6,005

 

354

 

13

 

47

 

6,372

 

EBITDA

 

3,210

 

179

 

(1,187

)

48

 

2,202

 

EBITDA margin

 

51.5

%

45.0

%

 

 

 

 

33.1

%

Special factors affecting EBITDA

 

1,280

 

0

 

(1,205

)

49

 

75

 

Adj. EBITDA

 

1,930

 

179

 

18

 

50

 

2,127

 

Adj. EBITDA margin

 

30.9

%

45.0

%

 

 

 

 

32.0

%

Depreciation and amortization

 

(1,270

)

(52

)

(844

)

51

 

(2,166

)

Financial income (expense), net

 

(65

)

(4

)

(25

)

52

 

(94

)

Income (loss) before income taxes

 

1,846

 

123

 

(2,027

)

53

 

(58

)

Capex

 

644

 

54

 

95

 

54

 

793

 

Number of employees (average)

 

44,215

 

3,192

 

0

 

 

 

47,407

 

 

 

 

 

from T-Com

 

 

 

 

 

 

 

 

Business unit
Business
Customers

 

T Systems

 

T-Systems
Ger. GAAP
old

 

Delta
IFRS

 

FN

 

T-Systems
IFRS old

 

-
Global
Network
factory, ICSS
and NWS

 

+
Billing &
collection

 

+
NetPro
small/
medium
enterprises

 

Consolidation

 

Business
Customers
IFRS new

 

Enterprise
Services

 

Business
Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

2,625

 

(9

)

67

 

2,616

 

387

 

272

 

1,097

 

(326

)

3,272

 

2,102

 

1,170

 

Net revenue

 

1,813

 

(17

)

68

 

1,796

 

192

 

15

 

708

 

0

 

2,327

 

1,239

 

1,088

 

EBITDA

 

318

 

9

 

69

 

327

 

27

 

70

 

17

 

(4

)

383

 

328

 

56

 

EBITDA margin

 

12.1

%

0.4

% pts

 

 

12.5

%

7.0

%

25.7

%

1.6

%

 

 

11.7

%

15.6

%

4.8

%

Special factors affecting EBITDA

 

(43

)

0

 

70

 

(43

)

0

 

0

 

0

 

0

 

(43

)

0

 

(43

)

Adj. EBITDA

 

361

 

9

 

71

 

370

 

27

 

70

 

17

 

(4

)

426

 

328

 

99

 

Adj. EBITDA margin

 

13.8

%

0.4

% pts

 

 

14.1

%

7.0

%

25.7

%

1.5

%

 

 

13.0

%

15.6

%

8.5

%

Depreciation and amortization

 

(350

)

114

 

72

 

(236

)

(18

)

(10

)

(16

)

1

 

(243

)

(184

)

(60

)

EBIT

 

(32

)

123

 

73

 

91

 

10

 

60

 

1

 

(2

)

140

 

144

 

(4

)

Financial income (expense), net

 

(5

)

(18

)

74

 

(23

)

(4

)

(1

)

(5

)

1

 

(24

)

8

 

(4

)

Income (loss) before income taxes

 

(38

)

106

 

75

 

68

 

5

 

60

 

(4

)

(3

)

116

 

155

 

(8

)

Capex

 

194

 

10

 

76

 

204

 

3

 

6

 

19

 

(4

)

222

 

171

 

51

 

Number of employees (average)

 

39,867

 

0

 

 

 

39,867

 

631

 

2,189

 

11,306

 

0

 

52,729

 

35,520

 

17,210

 

 

 

 

 

 

 

 

 

 

 

to T-Com

 

from GHS

 

from T-Com

 

 

 

 

 

 

 

 

 

 

All figures in millions of ,
calculated and rounded on the basis of precise figures

 

 

Unaudited and preliminary Figures

20



 

Q3 2004. Reconciliation Group and business units.

 

 

 

Adjusted

 

Special influences

 

Unadjusted

 

Group

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Net revenue

 

14,524

 

(171

)

1

 

14,353

 

 

 

 

 

 

 

 

 

14,524

 

(171

)

1

 

14,353

 

Cost of sales

 

(7,849

)

335

 

 

 

(7,514

)

0

 

(1

)

15

 

(1

)

(7,849

)

334

 

 

 

(7,515

)

Gross profit from sales

 

6,675

 

164

 

 

 

6,839

 

0

 

(1

)

 

 

(1

)

6,675

 

163

 

 

 

6,838

 

Selling costs

 

(3,014

)

(17

)

 

 

(3,031

)

0

 

(1

)

16

 

(1

)

(3,014

)

(18

)

 

 

(3,032

)

General administrative costs

 

(1,060

)

58

 

 

 

(1,002

)

0

 

(14

)

17

 

(14

)

(1,060

)

44

 

 

 

(1,016

)

Other operating income

 

719

 

(323

)

 

 

396

 

650

 

(641

)

18

 

9

 

1,369

 

(964

)

 

 

405

 

Other operating expenses

 

(1,094

)

763

 

 

 

(331

)

(109

)

(2,412

)

19

 

(2,521

)

(1,203

)

(1,649

)

 

 

(2,852

)

Operating results

 

2,226

 

645

 

2

 

2,871

 

541

 

(3,069

)

 

 

(2,528

)

2,767

 

(2,424

)

2

 

343

 

Financial income (expense), net

 

(793

)

(231

)

3

 

(1,024

)

0

 

0

 

20

 

0

 

(793

)

(231

)

3

 

(1,024

)

of which interest expenses

 

(836

)

(28

)

 

 

(864

)

0

 

0

 

 

 

0

 

(836

)

(28

)

 

 

(864

)

Income (loss) before income taxes

 

1,433

 

414

 

4

 

1,847

 

541

 

(3,069

)

21

 

(2,528

)

1,974

 

(2,655

)

4

 

(681

)

Income taxes

 

(340

)

(220

)

5

 

(560

)

(143

)

160

 

22

 

17

 

(483

)

(60

)

5

 

(543

)

Income (loss) after taxes

 

1,093

 

194

 

6

 

1,287

 

398

 

(2,909

)

 

 

(2,511

)

1,491

 

(2,715

)

6

 

(1,224

)

Income (losses) applicable to minority shareholders

 

(104

)

(31

)

7

 

(135

)

0

 

0

 

23

 

0

 

(104

)

(31

)

7

 

(135

)

Net income (loss)

 

989

 

163

 

8

 

1,152

 

398

 

(2,909

)

24

 

(2,511

)

1,387

 

(2,746

)

8

 

(1,359

)

EBIT

 

2,273

 

598

 

9

 

2,871

 

541

 

(3,069

)

25

 

(2,528

)

2,814

 

(2,471

)

9

 

343

 

EBIT margin

 

15.6

%

4.4pts

%

 

 

20.0

%

 

 

 

 

 

 

 

 

19.4

%

(17.0

%pts)

 

 

2.4

%

EBITDA

 

5,264

 

29

 

10

 

5,293

 

541

 

(641

)

26

 

(100

)

5,805

 

(612

)

10

 

5,193

 

EBITDA margin

 

36.2

%

0.7

pts%

 

 

36.9

%

 

 

 

 

 

 

 

 

40.0

%

(3.8

%pts)

 

 

36.2

%

Depreciation and amortization

 

(2,991

)

569

 

11

 

(2,422

)

0

 

(2,428

)

27

 

(2,428

)

(2,991

)

(1,859

)

11

 

(4,850

)

Capex

 

1,275

 

203

 

12

 

1,478

 

 

 

 

 

 

 

 

 

1,275

 

203

 

12

 

1,478

 

Free cash flow before dividend

 

2,391

 

49

 

13

 

2,440

 

 

 

 

 

 

 

 

 

2,391

 

49

 

13

 

2,440

 

Net debt (billions of )

 

40.8

 

3.9

 

14

 

44.7

 

 

 

 

 

 

 

 

 

40.8

 

3.9

 

14

 

44.7

 

 

GHS

 

GHS
Ger. GAAP

 

Delta
IFRS

 

FN

 

GHS
IFRS old

 

-
Billing &
collection

 

GHS
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,164

 

(5

)

77

 

1,159

 

272

 

887

 

Net revenue

 

78

 

0

 

78

 

78

 

21

 

57

 

EBITDA

 

69

 

7

 

79

 

76

 

77

 

(1

)

of which Vivento

 

(152

)

35

 

80

 

(117

)

0

 

(117

)

EBITDA margin

 

5.9

%

0.6

%pts

 

 

6.6

%

28.3

%

(0.1

)%

Special factors affecting EBITDA

 

21

 

0

 

81

 

21

 

0

 

21

 

Adj. EBITDA

 

48

 

7

 

82

 

55

 

77

 

(22

)

of which Vivento

 

(183

)

35

 

83

 

(148

)

0

 

(148

)

Adj. EBITDA margin

 

4.1

%

0.6

%pts

 

 

4.7

%

28.3

%

(2.5

)%

Depreciation and amortization

 

(180

)

(67

)

84

 

(247

)

(10

)

(237

)

Financial income (expense), net

 

(676

)

11

 

85

 

(665

)

1

 

(666

)

Income (loss) before income taxes

 

(799

)

(37

)

86

 

(836

)

68

 

(904

)

Capex

 

124

 

65

 

87

 

189

 

7

 

182

 

Number of employees (average)

 

34,795

 

0

 

 

 

34,795

 

2,687

 

32,108

 

 

 

 

 

 

 

 

 

 

 

to T-Systems

 

 

 

 

Consolidation

 

Consolidation
Ger. GAAP

 

Delta
IFRS

 

FN

 

Consolidation
IFRS old

 

Delta
New
Structure

 

Consolidation
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

(2,953

)

(125

)

 

 

(3,078

)

(148

)

(3,226

)

Net revenue

 

0

 

0

 

 

 

0

 

0

 

0

 

EBITDA

 

(140

)

36

 

 

 

(104

)

4

 

(100

)

Special factors affecting EBITDA

 

(93

)

0

 

 

 

(93

)

0

 

(93

)

Adj. EBITDA

 

(47

)

36

 

 

 

(11

)

4

 

(7

)

Depreciation and amortization

 

83

 

(71

)

 

 

12

 

5

 

17

 

Financial income (expense), net

 

24

 

(38

)

 

 

(14

)

4

 

(10

)

Income (loss) before income taxes

 

(32

)

(74

)

 

 

(106

)

13

 

(93

)

Capex

 

(34

)

24

 

 

 

(10

)

1

 

(9

)

 

Unaudited and preliminary Figures

21



 

Business unit
Broadband/Fixed Network

 

T-Online

 

T-Online
Ger. GAAP

 

Delta
IFRS

 

FN

 

T-Online
IFRS

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

464

 

22

 

37

 

486

 

Net revenue(1)

 

419

 

22

 

38

 

441

 

EBITDA

 

110

 

25

 

39

 

135

 

EBITDA margin

 

23.7

%

4.1

%pts

 

 

27.8

%

Special factors affecting EBITDA

 

(1

)

0

 

40

 

(1

)

Adj. EBITDA

 

111

 

25

 

41

 

136

 

Adj. EBITDA margin

 

23.9

%

4.1

%pts

 

 

28.0

%

Depreciation and amortization

 

(112

)

88

 

42

 

(24

)

Financial income (expense), net

 

26

 

4

 

43

 

30

 

Income (loss) before income taxes

 

24

 

117

 

44

 

141

 

Capex

 

15

 

4

 

45

 

19

 

Number of employees (average)

 

2,981

 

0

 

 

 

2,981

 

 

 

 

 

 

 

 

 

to T-Com

 

 

T-Com

 

T-Com
Ger. GAAP
old

 

-
IFRS
figures,
CEE
Mobile

 

Delta
IFRS

 

FN

 

T-Com
IFRS old

 

+
Global
Network
factory, ICSS
and NWS

 

-
NetPro
small/
medium
enterprises

 

Consoli-dation

 

T-Com
IFRS new

 

+
T-Online
IFRS

 

Consoli-

dation

 

Broadband/
Fixed
Network
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

6,806

 

374

 

(63

)

28

 

6,369

 

322

 

585

 

148

 

6,254

 

486

 

(131

)

6,609

 

of which domestic

 

5,791

 

0

 

(64

)

 

 

5,727

 

 

 

 

 

n.a.

 

5,618

 

434

 

(132

)

5,921

 

of which international

 

1,015

 

374

 

1

 

 

 

642

 

 

 

 

 

n.a.

 

636

 

52

 

0

 

688

 

Net revenue

 

6,007

 

 

 

(483

)

29

 

5,524

 

132

 

664

 

0

 

4,992

 

441

 

0

 

5,433

 

EBITDA

 

2,576

 

189

 

(19

)

30

 

2,368

 

8

 

37

 

3

 

2,342

 

135

 

0

 

2,477

 

of which domestic

 

2,115

 

0

 

4

 

 

 

2,119

 

 

 

 

 

n.a.

 

2,093

 

129

 

0

 

2,222

 

of which international

 

461

 

189

 

(23

)

 

 

249

 

 

 

 

 

n.a.

 

249

 

6

 

0

 

255

 

EBITDA margin

 

37.8

%

50.5

%

 

 

 

 

37.2

%

2.5

%

6.3

%

 

 

37.4

%

27.8

%

 

 

37.5

%

Special factors affecting EBITDA

 

(17

)

0

 

0

 

31

 

(17

)

0

 

0

 

0

 

(17

)

(1

)

0

 

(18

)

Adj. EBITDA

 

2,593

 

189

 

(19

)

32

 

2,385

 

8

 

37

 

3

 

2,359

 

136

 

0

 

2,495

 

of which domestic

 

2,116

 

0

 

4

 

 

 

2,120

 

 

 

 

 

n.a.

 

2,094

 

130

 

0

 

2,224

 

of which international

 

477

 

189

 

(23

)

 

 

265

 

 

 

 

 

n.a.

 

265

 

6

 

0

 

271

 

Adj. EBITDA margin

 

38.1

%

50.5

%

 

 

 

 

37.4

%

2.5

%

6.3

%

 

 

37.7

%

28.0

%

 

 

37.8

%

Depreciation and amortization

 

(1,158

)

(107

)

(101

)

33

 

(1,152

)

(14

)

(14

)

(3

)

(1,155

)

(24

)

(2

)

(1,181

)

Financial income (expense), net

 

45

 

(13

)

(40

)

34

 

18

 

(3

)

12

 

16

 

19

 

30

 

0

 

49

 

Income (loss) before income taxes

 

1,455

 

70

 

(151

)

35

 

1,234

 

(9

)

35

 

16

 

1,206

 

141

 

(2

)

1,345

 

Capex

 

518

 

44

 

14

 

36

 

488

 

0

 

9

 

0

 

479

 

19

 

0

 

498

 

of which domestic

 

384

 

0

 

15

 

 

 

399

 

 

 

 

 

n.a.

 

390

 

14

 

0

 

404

 

of which international

 

134

 

44

 

(1

)

 

 

89

 

 

 

 

 

n.a.

 

89

 

5

 

0

 

94

 

Number of employees (average)

 

125,914

 

3,190

 

0

 

 

 

122,724

 

633

 

9,789

 

0

 

113,568

 

2,981

 

0

 

116,549

 

of which domestic

 

95,583

 

0

 

0

 

 

 

95,583

 

633

 

9,789

 

0

 

86,427

 

2,178

 

0

 

88,605

 

 

 

 

 

to T-Mobile

 

 

 

 

 

 

 

from T-Systems

 

to T-Systems

 

 

 

 

 

from T-Online

 

 

 

 

 

 

Unaudited and preliminary Figures

22



 

Business unit
Mobile Communications

 

T-Mobile

 

T-Mobile
Ger. GAAP

 

+
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Mobile
IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

6,479

 

432

 

3

 

46

 

6,914

 

Net revenue

 

6,273

 

387

 

3

 

47

 

6,663

 

EBITDA

 

2,798

 

199

 

(628

)

48

 

2,369

 

EBITDA margin

 

43.2

%

46.1

%

 

 

 

 

34.3

%

Special factors affecting EBITDA

 

636

 

0

 

(641

)

49

 

(5

)

Adj. EBITDA

 

2,162

 

199

 

13

 

50

 

2,374

 

Adj. EBITDA margin

 

33.4

%

46.1

%

 

 

 

 

34.3

%

Depreciation and amortization

 

(1,282

)

(108

)

(1,825

)

51

 

(3,215

)

Financial income (expense), net

 

(203

)

(8

)

(13

)

52

 

(224

)

Income (loss) before income taxes

 

1,287

 

83

 

(2,440

)

53

 

(1,070

)

Capex

 

471

 

42

 

93

 

54

 

606

 

Number of employees (average)

 

44,920

 

3,190

 

0

 

 

 

48,111

 

 

 

 

 

from T-Com

 

 

 

 

 

 

 

 

Business unit
Business Customers

 

T-Systems

 

T-Systems
Ger. GAAP
old

 

Delta
IFRS

 

FN

 

T-Systems
IFRS old

 

-
Global
Network
factory, ICSS
and NWS

 

+
Billing &
collection

 

+
NetPro
small/
medium
enterprises

 

Consoli-

dation

 

Business
Customers
IFRS new

 

Enterprise
Services

 

Business
Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

2,564

 

(61

)

67

 

2,503

 

309

 

276

 

976

 

(277

)

3,169

 

2,139

 

1,129

 

Net revenue

 

1,747

 

(100

)

68

 

1,647

 

132

 

21

 

664

 

0

 

2,200

 

1,150

 

1,050

 

EBITDA

 

392

 

(43

)

69

 

349

 

14

 

78

 

48

 

(13

)

448

 

369

 

79

 

EBITDA margin

 

15.3

%

(1.3

)%pts

 

 

13.9

%

4.5

%

28.2

%

4.9

%

 

 

14.1

%

18.1

%

7.0

%

Special factors affecting EBITDA

 

(5

)

0

 

70

 

(5

)

0

 

0

 

0

 

0

 

(5

)

0

 

(5

)

Adj. EBITDA

 

397

 

(43

)

71

 

354

 

14

 

78

 

48

 

(13

)

453

 

369

 

84

 

Adj. EBITDA margin

 

15.5

%

(1.4

)%pts

 

 

14.1

%

4.5

%

28.2

%

4.9

%

 

 

14.3

%

18.1

%

7.4

%

Depreciation and amortization

 

(342

)

118

 

72

 

(224

)

(15

)

(10

)

(14

)

(1

)

(234

)

(180

)

(54

)

EBIT

 

50

 

75

 

73

 

125

 

(1

)

67

 

34

 

(13

)

214

 

189

 

25

 

Financial income (expense), net

 

(9

)

(160

)

74

 

(169

)

0

 

0

 

(4

)

0

 

(173

)

(136

)

(1

)

Income (loss) before income taxes

 

39

 

(83

)

75

 

(44

)

0

 

67

 

30

 

(12

)

41

 

53

 

24

 

Capex

 

181

 

5

 

76

 

186

 

0

 

7

 

10

 

(2

)

201

 

159

 

42

 

Number of employees (average)

 

39,750

 

0

 

 

 

39,750

 

633

 

2,687

 

9,789

 

0

 

51,593

 

35,860

 

15,734

 

 

 

 

 

 

 

 

 

 

 

to T-Com

 

from GHS

 

from T-Com

 

 

 

 

 

 

 

 

.

 

All figures in millions of €,
calculated and rounded on the basis of precise figures

 

 

Unaudited and preliminary Figures

23



 

Q4 2004. Reconciliation Group and business units.

 

 

 

Adjusted

 

Special influences

 

Unadjusted

 

Group

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

14,958

 

(218

)

1

 

14,740

 

 

 

 

 

 

 

 

 

14,958

 

(218

)

1

 

14,740

 

Cost of sales

 

(8,140

)

268

 

 

 

(7,872

)

(77

)

95

 

15

 

18

 

(8,217

)

363

 

 

 

(7,854

)

Gross profit from sales

 

6,818

 

50

 

 

 

6,868

 

(77

)

95

 

 

 

18

 

6,741

 

145

 

 

 

6,886

 

Selling costs

 

(3,675

)

172

 

 

 

(3,503

)

(24

)

1

 

16

 

(23

)

(3,699

)

173

 

 

 

(3,526

)

General administrative costs

 

(1,249

)

65

 

 

 

(1,184

)

(137

)

14

 

17

 

(123

)

(1,386

)

79

 

 

 

(1,307

)

Other operating income

 

908

 

(429

)

 

 

479

 

1,170

 

(1,170

)

18

 

0

 

2,078

 

(1,599

)

 

 

479

 

Other operating expenses

 

(1,348

)

968

 

 

 

(380

)

172

 

(106

)

19

 

66

 

(1,176

)

862

 

 

 

(314

)

Operating results

 

1,454

 

826

 

2

 

2,280

 

1,104

 

(1,166

)

 

 

(62

)

2,558

 

(340

)

2

 

2,218

 

Financial income (expense), net

 

(743

)

(194

)

3

 

(937

)

0

 

1,138

 

20

 

1,138

 

(743

)

944

 

3

 

201

 

of which interest expenses

 

(747

)

(33

)

 

 

(779

)

0

 

0

 

 

 

0

 

(747

)

(32

)

 

 

(779

)

Income (loss) before income taxes

 

711

 

632

 

4

 

1,343

 

1,104

 

(28

)

21

 

1,076

 

1,815

 

604

 

4

 

2,419

 

Income taxes

 

(399

)

(258

)

5

 

(657

)

12

 

(21

)

22

 

(9

)

(387

)

(279

)

5

 

(666

)

Income (loss) after taxes

 

312

 

374

 

6

 

686

 

1,116

 

(49

)

 

 

1,067

 

1,428

 

325

 

6

 

1,753

 

Income (losses) applicable to minority shareholders

 

(60

)

(34

)

7

 

(94

)

55

 

0

 

23

 

55

 

(5

)

(34

)

7

 

(39

)

Net income (loss)

 

252

 

340

 

8

 

592

 

1,171

 

(49

)

24

 

1,122

 

1,423

 

291

 

8

 

1,714

 

EBIT

 

1,509

 

771

 

9

 

2,280

 

1,104

 

(1,166

)

25

 

(62

)

2,613

 

(395

)

9

 

2,218

 

EBIT margin

 

10.1

%

5.4

%pts

 

 

15.5

%

 

 

 

 

 

 

 

 

17.5

%

(2.4

)%pts

 

 

15.0

%

EBITDA

 

4,732

 

(6

)

10

 

4,726

 

1,107

 

(1,241

)

26

 

(134

)

5,839

 

(1,247

)

10

 

4,592

 

EBITDA margin

 

31.6

%

0.4

%pts

 

 

32.1

%

 

 

 

 

 

 

 

 

39.0

%

(7.9

)%pts

 

 

31.2

%

Depreciation and amortization

 

(3,225

)

779

 

11

 

(2,446

)

(1

)

73

 

27

 

72

 

(3,226

)

852

 

11

 

(2,374

)

Capex

 

2,125

 

318

 

12

 

2,443

 

 

 

 

 

 

 

 

 

2,125

 

318

 

12

 

2,443

 

Free cash flow before dividend

 

3,595

 

0

 

13

 

3,595

 

 

 

 

 

 

 

 

 

3,595

 

0

 

13

 

3,595

 

Net debt (billions of €)

 

35.2

 

4.4

 

14

 

39.6

 

 

 

 

 

 

 

 

 

35.2

 

4.4

 

14

 

39.6

 

 

GHS

 

GHS
Ger. GAAP

 

Delta
IFRS

 

FN

 

GHS
IFRS old

 

Billing &
collection

 

GHS
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,093

 

(4

)

77

 

1,089

 

198

 

891

 

Net revenue

 

94

 

0

 

78

 

94

 

22

 

72

 

EBITDA

 

(142

)

(192

)

79

 

(334

)

(21

)

(313

)

of which Vivento

 

(123

)

(62

)

80

 

(185

)

0

 

(185

)

EBITDA margin

 

(13.0

)%

(17.7

)%pts

 

 

(30.7

)%

(10.6

)%

(35.1

)%

Special factors affecting EBITDA

 

176

 

(215

)

81

 

(39

)

0

 

(39

)

Adj. EBITDA

 

(318

)

23

 

82

 

(295

)

(21

)

(274

)

of which Vivento

 

(186

)

(13

)

83

 

(199

)

0

 

(199

)

Adj. EBITDA margin

 

(29.1

)%

2.0

%pts

 

 

(27.1

)%

(10.6

)%

(30.8

)%

Depreciation and amortization

 

(281

)

32

 

84

 

(249

)

(10

)

(239

)

Financial income (expense), net

 

(554

)

(5

)

85

 

(559

)

0

 

(559

)

Income (loss) before income taxes

 

(998

)

(144

)

86

 

(1,142

)

(31

)

(1,111

)

Capex

 

178

 

126

 

87

 

304

 

16

 

288

 

Number of employees (average)

 

34,371

 

0

 

 

 

34,371

 

2,698

 

31,673

 

 

 

 

 

 

 

 

 

 

 

to T-Systems

 

 

 

 

Consolidation

 

Consolidation
Ger. GAAP

 

Delta
IFRS

 

FN

 

Consolidation
IFRS old

 

Delta
new
structure

 

Consolidation
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

(3,016

)

(57

)

 

 

(3,073

)

138

 

(2,935

)

Net revenue

 

0

 

0

 

 

 

0

 

0

 

0

 

EBITDA

 

195

 

(15

)

 

 

180

 

24

 

204

 

Special factors affecting EBITDA

 

160

 

(14

)

 

 

146

 

(2

)

146

 

Adj. EBITDA

 

35

 

(1

)

 

 

34

 

26

 

58

 

Depreciation and amortization

 

77

 

(40

)

 

 

37

 

(24

)

13

 

Financial income (expense), net

 

(19

)

(5

)

 

 

(24

)

(2

)

(26

)

Income (loss) before income taxes

 

255

 

(62

)

 

 

193

 

(2

)

191

 

Capex

 

(87

)

35

 

 

 

(52

)

12

 

(40

)

 

Unaudited and preliminary Figures

24



 

Business unit
 Broadband/Fixed Network

 

T-Online

 

T-Online
Ger. GAAP

 

Delta
IFRS

 

FN

 

T-Online
IFRS

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

522

 

16

 

37

 

538

 

Net revenue

 

465

 

15

 

38

 

480

 

EBITDA

 

62

 

19

 

39

 

81

 

EBITDA margin

 

11.9

%

3.2

%pts

 

 

15.1

%

Special factors affecting EBITDA

 

0

 

0

 

40

 

0

 

Adj. EBITDA

 

62

 

19

 

41

 

81

 

Adj. EBITDA margin

 

11.9

%

3.2

%pts

 

 

15.1

%

Depreciation and amortization

 

(120

)

82

 

42

 

(38

)

Financial income (expense), net

 

28

 

4

 

43

 

32

 

Income (loss) before income taxes

 

(33

)

108

 

44

 

75

 

Capex

 

65

 

6

 

45

 

71

 

Number of employees (average)

 

3,007

 

0

 

 

 

3,007

 

 

 

 

 

 

 

 

 

to T-Com

 

 

T-Com

 

T-Com
Ger. GAAP
old

 

-
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Com
IFRS old

 

+
Global
Network
factory, ICSS
and NWS

 

-
NetPro
small/
medium
enterprises

 

Consoli-

dation

 

T-Com
IFRS new

 

+
T-Online
IFRS

 

Consoli-

dation

 

Broadband/
Fixed
Network
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

7,151

 

344

 

(99

)

28

 

6,708

 

316

 

1,047

 

301

 

6,278

 

538

 

(165

)

6,651

 

of which domestic

 

6,165

 

0

 

(98

)

 

 

6,067

 

 

 

 

 

n.a.

 

5,644

 

481

 

167

 

5,958

 

of which international

 

986

 

344

 

(1

)

 

 

641

 

 

 

 

 

n.a.

 

634

 

57

 

2

 

693

 

Net revenue

 

6,311

 

 

 

(483

)

29

 

5,828

 

151

 

745

 

0

 

5,234

 

480

 

0

 

5,714

 

EBITDA

 

2,467

 

154

 

(21

)

30

 

2,292

 

13

 

30

 

(10

)

2,265

 

81

 

(6

)

2,340

 

of which domestic

 

2,210

 

0

 

(12

)

 

 

2,198

 

 

 

 

 

n.a.

 

2,171

 

83

 

(6

)

2,248

 

of which international

 

257

 

154

 

(9

)

 

 

94

 

 

 

 

 

n.a.

 

94

 

(2

)

0

 

92

 

EBITDA margin

 

34.5

%

44.8

%

 

 

 

 

34.2

%

4.1

%

2.9

%

 

 

36.1

%

15.1

%

 

 

35.2

%

Special factors affecting EBITDA

 

(173

)

(2

)

0

 

31

 

(171

)

0

 

2

 

4

 

(169

)

0

 

0

 

(169

)

Adj. EBITDA

 

2,640

 

156

 

(21

)

32

 

2,463

 

13

 

28

 

(14

)

2,434

 

81

 

(6

)

2,509

 

of which domestic

 

2,249

 

0

 

(30

)

 

 

2,219

 

 

 

 

 

n.a.

 

2,208

 

83

 

(6

)

2,285

 

of which international

 

391

 

156

 

9

 

 

 

244

 

 

 

 

 

n.a.

 

226

 

(2

)

0

 

224

 

Adj. EBITDA margin

 

36.9

%

45.3

%

 

 

 

 

36.7

%

4.1

%

2.7

%

 

 

38.8

%

15.1

%

 

 

37.7

%

Depreciation and amortization

 

(1,244

)

(56

)

186

 

33

 

(1,002

)

(16

)

(11

)

0

 

(1,007

)

(38

)

22

 

(1,023

)

Financial income (expense), net

 

53

 

(102

)

(42

)

34

 

113

 

1

 

38

 

40

 

116

 

32

 

1

 

149

 

Income (loss) before income taxes

 

1,266

 

(5

)

132

 

35

 

1,403

 

(2

)

57

 

30

 

1,374

 

75

 

17

 

1,466

 

Capex

 

907

 

183

 

12

 

36

 

736

 

2

 

1

 

(10

)

727

 

71

 

0

 

798

 

of which domestic

 

564

 

0

 

12

 

 

 

576

 

 

 

 

 

n.a.

 

567

 

61

 

0

 

628

 

of which international

 

343

 

183

 

0

 

 

 

160

 

 

 

 

 

n.a.

 

160

 

10

 

0

 

170

 

Number of employees (average)

 

124,184

 

3,198

 

0

 

 

 

120,985

 

634

 

9,617

 

0

 

112,002

 

3,007

 

0

 

115,010

 

of which domestic

 

94,937

 

0

 

0

 

 

 

94,937

 

634

 

9,617

 

0

 

85,954

 

2,192

 

0

 

88,146

 

 

 

 

 

to T-Mobile

 

 

 

 

 

 

 

from T-Systems

 

to T-Systems

 

 

 

 

 

from T-Online

 

 

 

 

 

 

Unaudited and preliminary Figures

25



 

Business unit
Mobile Communications

 

 

 

 

 

+
IFRS

 

 

 

 

 

 

 

 

 

 

 

figures,

 

 

 

 

 

 

 

 

 

T-Mobile

 

CEE

 

Delta

 

 

 

T-Mobile

 

T-Mobile

 

Ger. GAAP

 

mobile

 

IFRS

 

FN

 

IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

6,335

 

405

 

(48

)

46

 

6,692

 

Net revenue

 

6,132

 

366

 

(49

)

47

 

6,449

 

EBITDA

 

2,911

 

150

 

(995

)

48

 

2,066

 

EBITDA margin

 

46.0

%

37.0

%

 

 

 

 

30.9

%

Special factors affecting EBITDA

 

1,012

 

0

 

(1,014

)

49

 

(2

)

Adj. EBITDA

 

1,899

 

150

 

19

 

50

 

2,068

 

Adj. EBITDA margin

 

30.0

%

37.0

%

 

 

 

 

30.9

%

Depreciation and amortization

 

(1,302

)

(69

)

484

 

51

 

(887

)

Financial income (expense), net

 

(241

)

(12

)

916

 

52

 

663

 

Income (loss) before income taxes

 

1,347

 

69

 

426

 

53

 

1,842

 

Capex

 

844

 

161

 

87

 

54

 

1,092

 

Number of employees (average)

 

44,617

 

3,198

 

0

 

 

 

47,815

 

 

 

 

 

from T-Com

 

 

 

 

 

 

 

 

Business unit
Business
Customers

 

 

 

T-Systems Ger. GAAP

old

 

 

 

 

 

 

 

-
Global Network

factory, ICSS

and NWS

 

 

 

+
NetPro small/

medium

enterprises

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

+

 

 

 

 

Business Customers

IFRS new

 

 

 

 

 

 

 

 

Delta IFRS

 

 

 

T-Systems IFRS old

 

 

Billing &

 

 

 

 

 

Enterprise Services

 

Business Services

 

T-Systems

 

 

 

FN

 

 

 

collection

 

 

Consolidation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

2,873

 

(87

)

67

 

2,786

 

305

 

202

 

1,176

 

(418

)

3,441

 

2,200

 

1,242

 

Net revenue

 

1,956

 

(67

)

68

 

1,889

 

151

 

22

 

745

 

0

 

2,505

 

1,408

 

1,097

 

EBITDA

 

346

 

(39

)

69

 

307

 

20

 

(21

)

26

 

3

 

295

 

249

 

46

 

EBITDA margin

 

12.0

%

(1.0

)%pts

 

 

11.0

%

6.7

%

(10.5

)%

2.2

%

 

 

8.6

%

11.3

%

3.7

%

Special factors affecting EBITDA

 

(68

)

0

 

70

 

(68

)

0

 

0

 

(2

)

0

 

70

 

0

 

(70

)

Adj. EBITDA

 

414

 

(39

)

71

 

375

 

20

 

(21

)

28

 

3

 

365

 

249

 

116

 

Adj. EBITDA margin

 

14.4

%

(0.9

)%pts

 

 

13.5

%

6.6

%

(10.5

)%

2.4

%

 

 

10.6

%

11.3

%

9.3

%

Depreciation and amortization

 

(356

)

121

 

72

 

(235

)

(15

)

(9

)

(11

)

2

 

(238

)

(181

)

(58

)

EBIT

 

(10

)

82

 

73

 

72

 

5

 

(30

)

15

 

6

 

57

 

68

 

(11

)

Financial income (expense), net

 

(10

)

(14

)

74

 

(24

)

1

 

3

 

(2

)

(2

)

(26

)

(9

)

(7

)

Income (loss) before income taxes

 

(22

)

70

 

75

 

48

 

6

 

(27

)

13

 

3

 

31

 

51

 

(18

)

Capex

 

218

 

74

 

76

 

292

 

2

 

17

 

13

 

(15

)

307

 

257

 

50

 

Number of employees (average)

 

39,551

 

0

 

 

 

39,551

 

634

 

2,698

 

9,617

 

0

 

51,232

 

35,626

 

15,606

 

 

 

 

 

 

 

 

 

 

 

to T-Com

 

from GHS

 

from T-Com

 

 

 

 

 

 

 

 

 

 

All figures in millions of €,
calculated and rounded on the basis of precise figures

 

 

Unaudited and preliminary Figures

26



 

FY 2004. Reconciliation Group and business units.

 

 

 

Adjusted

 

Special influences

 

Group

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

57 880

 

(520

)

1

 

57.360

 

 

 

 

 

 

 

 

 

Cost of sales

 

(31 325

)

1 102

 

 

 

(30 223

)

(77

)

(1 259

)

15

 

(1 336

)

Gross profit from sales

 

26 555

 

582

 

 

 

27 137

 

(77

)

(1 259

)

 

 

(1 336

)

Selling costs

 

(13 258

)

445

 

 

 

(12 813

)

(24

)

0

 

16

 

(24

)

General administrative costs

 

(4 543

)

175

 

 

 

(4 368

)

(137

)

0

 

17

 

(137

)

Other operating income

 

3 138

 

(1 504

)

 

 

1 634

 

3 798

 

(3 714

)

18

 

84

 

Other operating expenses

 

(4 972

)

3 580

 

 

 

(1 392

)

(612

)

(1 912

)

19

 

(2 524

)

Operating results

 

6 920

 

3 278

 

2

 

10 198

 

2 948

 

(6 885

)

 

 

(3 937

)

Financial income (expense), net

 

(3 327

)

(646

)

3

 

(3 973

)

0

 

1 230

 

20

 

1 230

 

of which interest expenses

 

(3 351

)

(148

)

 

 

(3 499

)

0

 

0

 

 

 

0

 

Income (loss) before income taxes

 

3 593

 

2 632

 

4

 

6 225

 

2 948

 

(5 655

)

21

 

(2 707

)

Income taxes

 

(1 043

)

(1 044

)

5

 

(2 087

)

(565

)

1 124

 

22

 

559

 

Income (loss) after taxes

 

2 550

 

1 588

 

6

 

4 138

 

2 383

 

(4 531

)

 

 

(2 148

)

Income (losses) applicable to minority shareholders

 

(354

)

(127

)

7

 

(481

)

55

 

0

 

23

 

55

 

Net income (loss)

 

2 196

 

1 461

 

8

 

3 657

 

2 438

 

(4 531

)

24

 

(2 093

)

EBIT

 

7 119

 

3 079

 

9

 

10 198

 

2 948

 

(6 885

)

25

 

(3 937

)

EBIT margin

 

12.3

%

5.5

%pts

 

 

17.8

%

 

 

 

 

 

 

 

 

EBITDA

 

19 364

 

253

 

10

 

19 617

 

2 951

 

(3 179

)

26

 

(228

)

EBITDA margin

 

33.5

%

0.7

%pts

 

 

34.2

%

 

 

 

 

 

 

 

 

Depreciation and amortization

 

(12 245

)

2 826

 

11

 

(9 419

)

(3

)

(3 706

)

27

 

(3 709

)

Capex

 

5 936

 

575

 

12

 

6 511

 

 

 

 

 

 

 

 

 

Free cash flow before dividend

 

10 180

 

131

 

13

 

10 311

 

 

 

 

 

 

 

 

 

Net debt (billions of €)

 

35.2

 

4.4

 

14

 

39.6

 

 

 

 

 

 

 

 

 

 

 

 

Unadjusted

 

Group

 

Group Ger. GAAP

 

Delta IFRS

 

FN

 

Group IFRS

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

57 880

 

(520

)

1

 

57 360

 

Cost of sales

 

(31 402

)

(157

)

 

 

(31 559

)

Gross profit from sales

 

26 478

 

(677

)

 

 

25 801

 

Selling costs

 

(13 282

)

445

 

 

 

(12 837

)

General administrative costs

 

(4 680

)

175

 

 

 

(4 505

)

Other operating income

 

6 936

 

(5 218

)

 

 

1 718

 

Other operating expenses

 

(5 584

)

1 668

 

 

 

(3 916

)

Operating results

 

9 868

 

(3 607

)

2

 

6 261

 

Financial income (expense), net

 

(3 327

)

584

 

3

 

(2 743

)

of which interest expenses

 

(3 351

)

(148

)

 

 

(3 499

)

Income (loss) before income taxes

 

6 541

 

(3 023

)

4

 

3 518

 

Income taxes

 

(1 608

)

80

 

5

 

(1 528

)

Income (loss) after taxes

 

4 933

 

(2 943

)

6

 

1 990

 

Income (losses) applicable to minority shareholders

 

(299

)

(127

)

7

 

(426

)

Net income (loss)

 

4 634

 

(3 070

)

8

 

1 564

 

EBIT

 

10 067

 

(3 806

)

9

 

6 261

 

EBIT margin

 

17.4

%

(6.5

)%pts

 

 

10.9

%

EBITDA

 

22 315

 

(2 926

)

10

 

19 389

 

EBITDA margin

 

38.6

%

(4.8

)%pts

 

 

33.8

%

Depreciation and amortization

 

(12 248

)

(880

)

11

 

(13 128

)

Capex

 

5 936

 

575

 

12

 

6 511

 

Free cash flow before dividend

 

10 180

 

131

 

13

 

10 311

 

Net debt (billions of €)

 

35.2

 

4.4

 

14

 

39.6

 

 

 

 

GHS

 

Delta

 

 

 

GHS

 

-
Billing &

 

GHS

 

GHS

 

Ger. GAAP

 

IFRS

 

FN

 

IFRS old

 

collection

 

IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

4 501

 

(18

)

77

 

4 483

 

957

 

3 526

 

Net revenue

 

336

 

0

 

78

 

336

 

76

 

260

 

EBITDA

 

(317

)

(57

)

79

 

(374

)

182

 

(556

)

of which Vivento

 

(786

)

47

 

80

 

(739

)

0

 

(739

)

EBITDA margin

 

(7.0

)%

(1.3

)%pts

 

 

(8.3

)%

19.0

%

(15.8

)%

Special factors affecting EBITDA

 

299

 

(307

)

81

 

(8

)

0

 

(8

)

Adj. EBITDA

 

(616

)

250

 

82

 

(366

)

182

 

(548

)

of which Vivento

 

(890

)

96

 

83

 

(794

)

0

 

(794

)

Adj. EBITDA margin

 

(13.7

)%

5.5

%pts

 

 

(8.2

)%

19.0

%

(15.5

)%

Depreciation and amortization

 

(846

)

(68

)

84

 

(914

)

(38

)

(876

)

Financial income (expense), net

 

(2 572

)

(116

)

85

 

(2 688

)

0

 

(2 688

)

Income (loss) before income taxes

 

(3 792

)

(184

)

86

 

(3 976

)

144

 

(4 120

)

Capex

 

490

 

214

 

87

 

704

 

31

 

673

 

Number of employees (average)

 

35 095

 

0

 

 

 

35 095

 

2 223

 

32 872

 

 

 

 

 

 

 

 

 

 

 

to T-Systems

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta

 

 

 

 

 

Consolidation

 

Delta

 

 

 

Consolidation

 

new

 

Consolidation

 

Consolidation

 

Ger. GAAP

 

IFRS

 

FN

 

IFRS old

 

structure

 

IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

(11,946

)

(338

)

 

 

(12,284

)

(376

)

(12,660

)

Net revenue

 

0

 

0

 

 

 

0

 

0

 

0

 

EBITDA

 

20

 

(30

)

 

 

(10

)

22

 

12

 

Special factors affecting EBITDA

 

67

 

(14

)

 

 

53

 

(5

)

48

 

Adj. EBITDA

 

(47

)

(16

)

 

 

(63

)

27

 

(36

)

Depreciation and amortization

 

316

 

(244

)

 

 

72

 

(16

)

56

 

Financial income (expense), net

 

(27

)

(188

)

 

 

(215

)

(1

)

(216

)

Income (loss) before income taxes

 

310

 

(463

)

 

 

(153

)

5

 

(148

)

Capex

 

(125

)

70

 

 

 

(55

)

12

 

(43

)

 

Unaudited and preliminary Figures

27



 

Business unit
Broadband/Fixed Network

 

T-Online

 

T-Online
Ger. GAAP

 

Delta
IFRS

 

FN

 

T-Online
IFRS

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,979

 

33

 

37

 

2,012

 

Net revenue

 

1,793

 

31

 

38

 

1,824

 

EBITDA

 

419

 

44

 

39

 

463

 

EBITDA margin

 

21.2

%

1.8

%pts

 

 

23.0

%

Special factors affecting EBITDA

 

(1

)

0

 

40

 

(1

)

Adj. EBITDA

 

420

 

44

 

41

 

464

 

Adj. EBITDA margin

 

21.2

%

1.8

%pts

 

 

23.1

%

Depreciation and amortization

 

(452

)

344

 

42

 

(108

)

Financial income (expense), net

 

109

 

15

 

43

 

124

 

Income (loss) before income taxes

 

73

 

406

 

44

 

479

 

Capex

 

110

 

11

 

45

 

121

 

Number of employees (average)

 

2,963

 

0

 

 

 

2,963

 

 

 

 

 

 

 

 

 

to T-Com

 

 

T-Com

 

T-Com
Ger. GAAP
old

 

-
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Com
IFRS old

 

+
Global
Network
factory, ICSS
and NWS

 

-
NetPro
small/
medium
enterprises

 

Consolidation

 

T-Com
IFRS new

 

+
T-Online
IFRS

 

Consolidation

 

Broadband/
Fixed
Network
IFRS new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

27,814

 

1,333

 

(228

)

28

 

26,253

 

1,452

 

2,797

 

693

 

25,601

 

2,012

 

(603

)

27,010

 

of which domestic

 

23,921

 

0

 

(228

)

 

 

23,693

 

 

 

 

 

n.a.

 

23,069

 

1,797

 

(604

)

24,262

 

of which international

 

3,893

 

1,333

 

0

 

 

 

2,560

 

 

 

 

 

n.a.

 

2,532

 

215

 

1

 

2,748

 

Net revenue

 

24,425

 

 

 

(1,718

)

29

 

22,707

 

671

 

2,793

 

0

 

20,585

 

1,824

 

0

 

22,409

 

EBITDA

 

10,240

 

679

 

(23

)

30

 

9,538

 

47

 

89

 

8

 

9,504

 

463

 

(14

)

9,953

 

of which domestic

 

8,662

 

0

 

13

 

 

 

8,675

 

 

 

 

 

n.a.

 

8,641

 

463

 

(14

)

9,090

 

of which international

 

1,578

 

679

 

(36

)

 

 

863

 

 

 

 

 

n.a.

 

863

 

0

 

0

 

863

 

EBITDA margin

 

36.8

%

50.9

%

 

 

 

 

36.3

%

3.2

%

3.2

%

 

 

37.1

%

23.0

%

 

 

36.8

%

Special factors affecting EBITDA

 

(226

)

(2

)

0

 

31

 

(224

)

0

 

6

 

11

 

(219

)

(1

)

0

 

(220

)

Adj. EBITDA

 

10,466

 

681

 

(23

)

32

 

9,762

 

47

 

83

 

(3

)

9,723

 

464

 

(14

)

10,173

 

of which domestic

 

8,738

 

0

 

(5

)

 

 

8,733

 

 

 

 

 

n.a.

 

8,712

 

464

 

(14

)

9,162

 

of which international

 

1,728

 

681

 

(18

)

 

 

1,029

 

 

 

 

 

n.a.

 

1,011

 

0

 

0

 

1,011

 

Adj. EBITDA margin

 

37.6

%

51.1

%

 

 

 

 

37.2

%

3.2

%

3.0

%

 

 

38.0

%

23.1

%

 

 

37.7

%

Depreciation and amortization

 

(4,790

)

(264

)

222

 

33

 

(4,304

)

(65

)

(57

)

(4

)

(4,316

)

(108

)

16

 

(4,408

)

Financial income (expense), net

 

111

 

(392

)

(161

)

34

 

342

 

(3

)

55

 

70

 

354

 

124

 

1

 

479

 

Income (loss) before income taxes

 

5,525

 

23

 

74

 

35

 

5,576

 

(21

)

87

 

74

 

5,542

 

479

 

3

 

6,024

 

Capex

 

2,330

 

315

 

13

 

36

 

2,028

 

8

 

30

 

(8

)

1,998

 

121

 

0

 

2,119

 

of which domestic

 

1,620

 

0

 

14

 

 

 

1,634

 

 

 

 

 

n.a.

 

1,604

 

95

 

(1

)

1,698

 

of which international

 

710

 

315

 

(1

)

 

 

394

 

 

 

 

 

n.a.

 

394

 

26

 

1

 

421

 

Number of employees (average)

 

125,395

 

3,192

 

0

 

 

 

122,203

 

631

 

10,506

 

0

 

112,329

 

2,963

 

0

 

115,292

 

of which domestic

 

94,992

 

0

 

0

 

 

 

94,992

 

631

 

10,506

 

0

 

85,118

 

2,149

 

0

 

87,267

 

 

 

 

 

to T-Mobile

 

 

 

 

 

 

 

from T-Systems

 

to T-Systems

 

 

 

 

 

from T-Online

 

 

 

 

 

 

Unaudited and preliminary Figures

28



 

Business unit
Mobile Communications

 

T-Mobile

 

T-Mobile
Ger. GAAP

 

+
IFRS
figures,
CEE
mobile

 

Delta
IFRS

 

FN

 

T-Mobile
IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

24,995

 

1,582

 

(50

)

46

 

26,527

 

Net revenue

 

24,088

 

1,413

 

(51

)

47

 

25,450

 

EBITDA

 

10,596

 

676

 

(2,809

)

48

 

8,463

 

EBITDA margin

 

42.4

%

42.7

%

 

 

 

 

31.9

%

Special factors affecting EBITDA

 

2,928

 

0

 

(2,860

)

49

 

68

 

Adj. EBITDA

 

7,668

 

676

 

51

 

50

 

8,395

 

Adj. EBITDA margin

 

30.7

%

42.7

%

 

 

 

 

31.6

%

Depreciation and amortization

 

(5,088

)

(279

)

(1,586

)

51

 

(6,953

)

Financial income (expense), net

 

(774

)

(29

)

874

 

52

 

71

 

Income (loss) before income taxes

 

4,636

 

368

 

(3,423

)

53

 

1,581

 

Capex

 

2,411

 

299

 

184

 

54

 

2,894

 

Number of employees (average)

 

44,226

 

3,192

 

0

 

 

 

47,418

 

 

 

 

 

from T-Com

 

 

 

 

 

 

 

 

Business unit
Business Customers

 

T-Systems

 

T-Systems
Ger. GAAP
old

 

Delta
IFRS

 

FN

 

T-Systems
IFRS old

 

-
Global
Network
factory, ICSS
and NWS

 

+
Billing &
collection

 

+
NetPro
small/
medium
enterprises

 

Consoli-
dation

 

Business
Customers
IFRS new

 

Enterprise
Services

 

Business
Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

10,537

 

(168

)

67

 

10,369

 

1,385

 

972

 

4,293

 

(1,292

)

12,957

 

8,248

 

4,709

 

Net revenue

 

7,238

 

(195

)

68

 

7,043

 

671

 

76

 

2,793

 

0

 

9,241

 

4,944

 

4,297

 

EBITDA

 

1,357

 

(48

)

69

 

1,309

 

78

 

183

 

110

 

(7

)

1,517

 

1,265

 

252

 

EBITDA margin

 

12.9

%

(0.3

)%pts

 

 

12.6

%

5.6

%

18.8

%

2.6

%

 

 

11.7

%

15.3

%

5.4

%

Special factors affecting EBITDA

 

(116

)

0

 

70

 

(116

)

0

 

0

 

(5

)

0

 

(121

)

0

 

(121

)

Adj. EBITDA

 

1,473

 

(48

)

71

 

1,425

 

78

 

183

 

115

 

(7

)

1,638

 

1,256

 

373

 

Adj. EBITDA margin

 

14.0

%

(0.2

)%pts

 

 

13.7

%

5.6

%

18.8

%

2.7

%

 

 

12.6

%

15.3

%

7.9

%

Depreciation and amortization

 

(1,388

)

467

 

72

 

(921

)

(65

)

(37

)

(57

)

3

 

(947

)

(718

)

(229

)

EBIT

 

(31

)

419

 

73

 

388

 

13

 

145

 

54

 

(4

)

570

 

547

 

23

 

Financial income (expense), net

 

(174

)

(203

)

74

 

(377

)

(3

)

2

 

(15

)

(1

)

(389

)

(268

)

(15

)

Income (loss) before income taxes

 

(211

)

222

 

75

 

11

 

10

 

148

 

38

 

(6

)

181

 

274

 

7

 

Capex

 

720

 

99

 

76

 

819

 

8

 

31

 

48

 

(22

)

868

 

701

 

167

 

Number of employees (average)

 

39,880

 

0

 

 

 

39,880

 

631

 

2,223

 

10,506

 

0

 

51,978

 

35,529

 

15,606

 

 

 

 

 

 

 

 

 

 

 

to T-Com

 

from GHS

 

from T-Com

 

 

 

 

 

 

 

 

 

 

All figures in millions of €,
calculated and rounded on the basis of precise figures

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Unaudited and preliminary Figures

29



 

Step 1: IFRS. Deutsche Telekom Group.

 

Ger. GAAP
adjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

1

 

55,838

 

13,986

 

14,412

 

14,524

 

14,958

 

57,880

 

Cost of sales

 

 

 

(31,233

)

(7,570

)

(7,766

)

(7,849

)

(8,140

)

(31,325

)

Gross profit from sales

 

 

 

24,605

 

6,416

 

6,646

 

6,675

 

6,818

 

26,555

 

Selling costs

 

 

 

(13,420

)

(3,295

)

(3,274

)

(3,014

)

(3,675

)

(13,258

)

General administrative costs

 

 

 

(4,635

)

(1,105

)

(1,129

)

(1,060

)

(1,249

)

(4,543

)

Other operating income

 

 

 

3,402

 

731

 

780

 

719

 

908

 

3,138

 

Other operating expense

 

 

 

(4,710

)

(1,222

)

(1,308

)

(1,094

)

(1,348

)

(4,972

)

Operating results

 

2

 

5,242

 

1,525

 

1,715

 

2,226

 

1,454

 

6,920

 

Financial income (expense), net

 

3

 

(4,120

)

(1,110

)

(681

)

(793

)

(743

)

(3,327

)

of which interest expenses

 

 

 

(3,776

)

(973

)

(795

)

(836

)

(747

)

(3,351

)

Income (loss) before income taxes

 

4

 

1,122

 

415

 

1,034

 

1,433

 

711

 

3,593

 

Income taxes

 

5

 

(530

)

(91

)

(213

)

(340

)

(399

)

(1,043

)

Income (loss) after taxes

 

6

 

592

 

324

 

821

 

1,093

 

312

 

2,550

 

Income (losses) applicable to minority shareholders

 

7

 

(370

)

(97

)

(93

)

(104

)

(60

)

(354

)

Net income (loss)

 

8

 

222

 

227

 

728

 

989

 

252

 

2,196

 

EBIT

 

9

 

5,404

 

1,569

 

1,768

 

2,273

 

1,509

 

7,119

 

EBIT margin

 

 

 

9.7

%

11.2

%

12.3

%

15.6

%

10.1

%

12.3

%

EBITDA

 

10

 

18,288

 

4,585

 

4,783

 

5,264

 

4,732

 

19,364

 

EBITDA margin

 

 

 

32.8

%

32.8

%

33.2

%

36.2

%

31.6

%

33.5

%

Depreciation and amortization

 

11

 

(12,884

)

(3,016

)

(3,015

)

(2,991

)

(3,225

)

(12,245

)

Capex

 

12

 

6,234

 

1,019

 

1,517

 

1,275

 

2,125

 

5,936

 

Free cash flow before dividend

 

13

 

8,285

 

2,900

 

1,294

 

2,391

 

3,595

 

10,180

 

Net debt (billions of €)

 

14

 

46.6

 

44.6

 

43.3

 

40.8

 

35.2

 

35.2

 

 

Unaudited and preliminary Figures

30



 

Step 1: IFRS. Deutsche Telekom Group.

 

 

Ger. GAAP
unadjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

1

 

55,838

 

13,986

 

14,412

 

14,524

 

14,958

 

57,880

 

Cost of sales

 

 

 

(31,402

)

(7,570

)

(7,766

)

(7,849

)

(8,217

)

(31,402

)

Gross profit from sales

 

 

 

24,436

 

6,416

 

6,646

 

6,675

 

6,741

 

26,478

 

Selling costs

 

 

 

(13,505

)

(3,295

)

(3,274

)

(3,014

)

(3,699

)

(13,282

)

General administrative costs

 

 

 

(4,976

)

(1,105

)

(1,129

)

(1,060

)

(1,386

)

(4,680

)

Other operating income

 

 

 

4,558

 

731

 

2,758

 

1,369

 

2,078

 

6,936

 

Other operating expense

 

 

 

(5,084

)

(1,291

)

(1,914

)

(1,203

)

(1,176

)

(5,584

)

Operating results

 

2

 

5,429

 

1,456

 

3,087

 

2,767

 

2,558

 

9,868

 

Financial income (expense), net

 

3

 

(4,031

)

(1,110

)

(681

)

(793

)

(743

)

(3,327

)

of which interest expenses

 

 

 

(3,776

)

(973

)

(795

)

(836

)

(747

)

(3,351

)

Income (loss) before income taxes

 

4

 

1,398

 

346

 

2,406

 

1,974

 

1,815

 

6,541

 

Income taxes

 

5

 

225

 

(80

)

(658

)

(483

)

(387

)

(1,608

)

Income (loss) after taxes

 

6

 

1,623

 

266

 

1,748

 

1,491

 

1,428

 

4,933

 

Income (losses) applicable to minority shareholders

 

7

 

(370

)

(97

)

(93

)

(104

)

(5

)

(299

)

Net income (loss)

 

8

 

1,253

 

169

 

1,655

 

1,387

 

1,423

 

4,634

 

EBIT

 

9

 

5,591

 

1,500

 

3,140

 

2,814

 

2,613

 

10,067

 

EBIT margin

 

 

 

10.0

%

10.7

%

21.8

%

19.4

%

17.5

%

17.4

%

EBITDA

 

10

 

18,475

 

4,516

 

6,155

 

5,805

 

5,839

 

22,315

 

EBITDA margin

 

 

 

33.1

%

32.3

%

42.7

%

40.0

%

39.0

%

38.6

%

Depreciation and amortization

 

11

 

(12,884

)

(3,016

)

(3,015

)

(2,991

)

(3,226

)

(12,248

)

Capex

 

12

 

6,234

 

1,019

 

1,517

 

1,275

 

2,125

 

5,936

 

Free cash flow before dividend

 

13

 

8,285

 

2,900

 

1,294

 

2,391

 

3,595

 

10,180

 

Net debt (billions of €)

 

14

 

46.6

 

44.6

 

43.3

 

40.8

 

35.2

 

35.2

 

 

Ger. GAAP
Special influences

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

1

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

 

(169

)

0

 

0

 

0

 

(77

)

(77

)

Gross profit from sales

 

 

 

(169

)

0

 

0

 

0

 

(77

)

(77

)

Selling costs

 

 

 

(85

)

0

 

0

 

0

 

(24

)

(24

)

General administrative costs

 

 

 

(341

)

0

 

0

 

0

 

(137

)

(137

)

Other operating income

 

 

 

1,156

 

0

 

1,978

 

650

 

1,170

 

3,798

 

Other operating expense

 

 

 

(374

)

(69

)

(606

)

(109

)

172

 

(612

)

Operating results

 

2

 

187

 

(69

)

1,372

 

541

 

1,104

 

2,948

 

Financial income (expense), net

 

3

 

89

 

0

 

0

 

0

 

0

 

0

 

of which interest expenses

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

Income (loss) before income taxes

 

4

 

276

 

(69

)

1,372

 

541

 

1,104

 

2,948

 

Income taxes

 

5

 

755

 

11

 

(445

)

(143

)

12

 

(565

)

Income (loss) after taxes

 

6

 

1,031

 

(58

)

927

 

398

 

1,116

 

2,383

 

Income (losses) applicable to minority shareholders

 

7

 

0

 

0

 

0

 

0

 

55

 

55

 

Net income (loss)

 

8

 

1,031

 

(58

)

927

 

398

 

1,171

 

2,438

 

EBIT

 

9

 

187

 

(69

)

1,372

 

541

 

1,104

 

2,948

 

EBIT margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

10

 

187

 

(69

)

1,372

 

541

 

1,107

 

2,951

 

EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

11

 

0

 

0

 

0

 

0

 

(1

)

(3

)

Capex

 

12

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cash flow before dividend

 

13

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt (billions of €)

 

14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited and preliminary Figures

31



 

Step 1: IFRS. Deutsche Telekom Group.

 

 

IFRS
adjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

1

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

Cost of sales

 

 

 

(29,347

)

(7,219

)

(7,618

)

(7,514

)

(7,872

)

(30,223

)

Gross profit from sales

 

 

 

26,156

 

6,671

 

6,759

 

6,839

 

6,868

 

27,137

 

Selling costs

 

 

 

(12,742

)

(3,207

)

(3,072

)

(3,031

)

(3,503

)

(12,813

)

General administrative costs

 

 

 

(4,515

)

(1,034

)

(1,148

)

(1,002

)

(1,184

)

(4,368

)

Other operating income

 

 

 

1,851

 

361

 

398

 

396

 

479

 

1,634

 

Other operating expense

 

 

 

(1,508

)

(306

)

(375

)

(331

)

(380

)

(1,392

)

Operating results

 

2

 

9,242

 

2,485

 

2,562

 

2,871

 

2,280

 

10,198

 

Financial income (expense), net

 

3

 

(4,878

)

(1,224

)

(788

)

(1,024

)

(937

)

(3,973

)

of which interest expenses

 

 

 

(3,880

)

(937

)

(919

)

(864

)

(779

)

(3,499

)

Income (loss) before income taxes

 

4

 

4,364

 

1,261

 

1,774

 

1,847

 

1,343

 

6,225

 

Income taxes

 

5

 

(1,634

)

(440

)

(430

)

(560

)

(657

)

(2,087

)

Income (loss) after taxes

 

6

 

2,730

 

821

 

1,344

 

1,287

 

686

 

4,138

 

Income (losses) applicable to minority shareholders

 

7

 

(457

)

(130

)

(122

)

(135

)

(94

)

(481

)

Net income (loss)

 

8

 

2,273

 

691

 

1,222

 

1,152

 

592

 

3,657

 

EBIT

 

9

 

9,242

 

2,485

 

2,562

 

2,871

 

2,280

 

10,198

 

EBIT margin

 

 

 

16.7

%

17.9

%

17.8

%

20.0

%

15.5

%

17.8

%

EBITDA

 

10

 

18,572

 

4,675

 

4,923

 

5,293

 

4,726

 

19,617

 

EBITDA margin

 

 

 

33.5

%

33.7

%

34.2

%

36.9

%

32.1

%

34.2

%

Depreciation and amortization

 

11

 

(9,330

)

(2,190

)

(2,361

)

(2,422

)

(2,446

)

(9,419

)

Capex

 

12

 

7,502

 

910

 

1,680

 

1,478

 

2,443

 

6,511

 

Free cash flow before dividend

 

13

 

8,691

 

2,951

 

1,325

 

2,440

 

3,595

 

10,311

 

Net debt (billions of €)

 

14

 

50.7

 

48.9

 

47.3

 

44.7

 

39.6

 

39.6

 

 

Delta IFRS
adjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

1

 

(335

)

(96

)

(35

)

(171

)

(218

)

(520

)

Cost of sales

 

 

 

1,886

 

351

 

148

 

335

 

268

 

1,102

 

Gross profit from sales

 

 

 

1,551

 

255

 

113

 

164

 

50

 

582

 

Selling costs

 

 

 

678

 

88

 

202

 

(17

)

172

 

445

 

General administrative costs

 

 

 

120

 

71

 

(19

)

58

 

65

 

175

 

Other operating income

 

 

 

(1,551

)

(370

)

(382

)

(323

)

(429

)

(1,504

)

Other operating expense

 

 

 

3,202

 

916

 

933

 

763

 

968

 

3,580

 

Operating results

 

2

 

4,000

 

960

 

847

 

645

 

826

 

3,278

 

Financial income
(expense), net

 

3

 

(758

)

(114

)

(107

)

(231

)

(194

)

(646

)

of which interest
expenses

 

 

 

(104

)

36

 

(124

)

(28

)

(32

)

(148

)

Income (loss) before income taxes

 

4

 

3,242

 

846

 

740

 

414

 

632

 

2,632

 

Income taxes

 

5

 

(1,104

)

(349

)

(217

)

(220

)

(258

)

(1,044

)

Income (loss) after taxes

 

6

 

2,138

 

497

 

523

 

194

 

374

 

1,588

 

Income (losses) applicable to minority shareholders

 

7

 

(87

)

(33

)

(29

)

(31

)

(34

)

(127

)

Net income (loss)

 

8

 

2,051

 

464

 

494

 

163

 

340

 

1,461

 

EBIT

 

9

 

3,838

 

916

 

794

 

598

 

771

 

3,079

 

EBIT margin

 

 

 

7.0

%pts

6.7

%pts

5.5

%pts

4.4

%pts

5.4

%pts

5.5

%pts

EBITDA

 

10

 

284

 

90

 

140

 

29

 

(6

)

253

 

EBITDA margin

 

 

 

0.7

%pts

0.9

%pts

1.0

%pts

0.7

%pts

0.4

%pts

0.7

%pts

Depreciation and amortization

 

11

 

3,554

 

826

 

654

 

569

 

779

 

2,826

 

Capex

 

12

 

1,268

 

(109

)

163

 

203

 

318

 

575

 

Free cash flow before dividend

 

13

 

406

 

51

 

31

 

49

 

0

 

131

 

Net debt (billions of €)

 

14

 

4.1

 

4.3

 

4.0

 

3.9

 

4.4

 

4.4

 

 

Unaudited and preliminary Figures

32



 

Step 1: IFRS. Deutsche Telekom Group.

 

 

IFRS
unadjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

1

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

Cost of sales

 

 

 

(29,369

)

(7,219

)

(8,971

)

(7,515

)

(7,854

)

(31,559

)

Gross profit from sales

 

 

 

26,134

 

6,671

 

5,406

 

6,838

 

6,886

 

25,801

 

Selling costs

 

 

 

(12,747

)

(3,207

)

(3,072

)

(3,032

)

(3,526

)

(12,837

)

General administrative costs

 

 

 

(4,596

)

(1,034

)

(1,148

)

(1,016

)

(1,307

)

(4,505

)

Other operating income

 

 

 

2,359

 

361

 

473

 

405

 

479

 

1,718

 

Other operating expense

 

 

 

(2,765

)

(375

)

(375

)

(2,852

)

(314

)

(3,916

)

Operating results

 

2

 

8,385

 

2,416

 

1,284

 

343

 

2,218

 

6,261

 

Financial income (expense), net

 

3

 

(4,247

)

(1,224

)

(696

)

(1,024

)

201

 

(2,743

)

of which interest expenses

 

 

 

(3,880

)

(937

)

(919

)

(864

)

(779

)

(3,499

)

Income (loss) before income taxes

 

4

 

4,138

 

1,192

 

588

 

(681

)

2,419

 

3,518

 

Income taxes

 

5

 

(1,744

)

(430

)

111

 

(543

)

(666

)

(1,528

)

Income (loss) after taxes

 

6

 

2,394

 

762

 

699

 

(1,224

)

1,753

 

1,990

 

Income (losses) applicable to minority shareholders

 

7

 

(457

)

(130

)

(122

)

(135

)

(39

)

(426

)

Net income (loss)

 

8

 

1,937

 

632

 

577

 

(1,359

)

1,714

 

1,564

 

EBIT

 

9

 

8,385

 

2,416

 

1,284

 

343

 

2,218

 

6,261

 

EBIT margin

 

 

 

15.1

%

17.4

%

8.9

%

2.4

%

15.0

%

10.9

%

EBITDA

 

10

 

18,689

 

4,606

 

4,998

 

5,193

 

4,592

 

19,389

 

EBITDA margin

 

 

 

33.7

%

33.2

%

34.8

%

36.2

%

31.2

%

33.8

%

Depreciation and amortization

 

11

 

(10,304

)

(2,190

)

(3,714

)

(4,850

)

(2,374

)

(13,128

)

Capex

 

12

 

7,502

 

910

 

1,680

 

1,478

 

2,443

 

6,511

 

Free cash flow before dividend

 

13

 

8,691

 

2,951

 

1,325

 

2,440

 

3,595

 

10,311

 

Net debt (billions of €)

 

14

 

50.7

 

48.9

 

47.3

 

44.7

 

39.6

 

39.6

 

 

Delta IFRS
unadjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

1

 

(335

)

(96

)

(35

)

(171

)

(218

)

(520

)

Cost of sales

 

 

 

2,033

 

351

 

(1,205

)

334

 

363

 

(157

)

Gross profit from sales

 

 

 

1,698

 

255

 

(1,240

)

163

 

145

 

(677

)

Selling costs

 

 

 

758

 

88

 

202

 

(18

)

173

 

445

 

General administrative costs

 

 

 

380

 

71

 

(19

)

44

 

79

 

175

 

Other operating income

 

 

 

(2,199

)

(370

)

(2,285

)

(964

)

(1,599

)

(5,218

)

Other operating expense

 

 

 

2,319

 

916

 

1,539

 

(1,649

)

862

 

1,668

 

Operating results

 

2

 

2,956

 

960

 

(1,803

)

(2,424

)

(340

)

(3,607

)

Financial income (expense), net

 

3

 

(216

)

(114

)

(15

)

(231

)

944

 

584

 

of which interest expenses

 

 

 

(104

)

36

 

(124

)

(28

)

(32

)

(148

)

Income (loss) before income taxes

 

4

 

2,740

 

846

 

(1,818

)

(2,655

)

604

 

(3,023

)

Income taxes

 

5

 

(1,969

)

(350

)

769

 

(60

)

(279

)

80

 

Income (loss) after taxes

 

6

 

771

 

496

 

(1,049

)

(2,715

)

325

 

(2,943

)

Income (losses) applicable to minority shareholders

 

7

 

(87

)

(33

)

(29

)

(31

)

(34

)

(127

)

Net income (loss)

 

8

 

684

 

463

 

(1,078

)

(2,746

)

291

 

(3,070

)

EBIT

 

9

 

2,794

 

916

 

(1,856

)

(2,471

)

(395

)

(3,806

)

EBIT margin

 

 

 

5.1

%pts

6.7

%pts

(12.9

)%pts

(17.0

)%pts

(2.4

)%pts

(6.5

)%pts

EBITDA

 

10

 

214

 

90

 

(1,157

)

(612

)

(1,247

)

(2,926

)

EBITDA margin

 

 

 

0.6

%pts

0.9

%pts

(7.9

)%pts

(3.8

)%pts

(7.9

)%pts

(4.8

)%pts

Depreciation and amortization

 

11

 

2,580

 

826

 

(699

)

(1,859

)

852

 

(880

)

Capex

 

12

 

1,268

 

(109

)

163

 

203

 

318

 

575

 

Free cash flow before dividend

 

13

 

406

 

51

 

31

 

49

 

0

 

131

 

Net debt (billions of €)

 

14

 

4.1

 

4.3

 

4.0

 

3.9

 

4.4

 

4.4

 

 

Unaudited and preliminary Figures

33



 

Step 1: IFRS. Deutsche Telekom Group.

 

 

IFRS
Special
influences

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

15

 

(22

)

0

 

(1,353

)

(1

)

18

 

(1,336

)

Gross profit from sales

 

 

 

(22

)

0

 

(1,353

)

(1

)

18

 

(1,336

)

Selling costs

 

16

 

(5

)

0

 

0

 

(1

)

(23

)

(24

)

General administrative costs

 

17

 

(81

)

0

 

0

 

(14

)

(123

)

(137

)

Other operating income

 

18

 

508

 

0

 

75

 

9

 

0

 

84

 

Other operating expense

 

19

 

(1,257

)

(69

)

0

 

(2,521

)

66

 

(2,524

)

Operating results

 

 

 

 (857

)

(69

)

(1,278

)

(2,528

)

(62

)

(3,937

)

Financial income (expense), net

 

20

 

631

 

0

 

92

 

0

 

1,138

 

1,230

 

of which interest expenses

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

Income (loss) before income taxes

 

21

 

(226

)

(69

)

(1,186

)

(2,528

)

1,076

 

(2,707

)

Income taxes

 

22

 

(110

)

10

 

541

 

17

 

(9

)

559

 

Income (loss) after taxes

 

 

 

(336

)

(59

)

(645

)

(2,511

)

1,067

 

(2,148

)

Income (losses) applicable to minority shareholders

 

23

 

0

 

0

 

0

 

0

 

55

 

55

 

Net income (loss)

 

24

 

(336

)

(59

)

(645

)

(2,511

)

1,122

 

(2,093

)

EBIT

 

25

 

(857

)

(69

)

(1,278

)

(2,528

)

(62

)

(3,937

)

EBIT margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

26

 

117

 

(69

)

75

 

(100

)

(134

)

(228

)

EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

27

 

(974

)

0

 

(1,353

)

(2,428

)

72

 

(3,709

)

Capex

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cash flow before dividend

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt (billions of )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS
Special
influences

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

1

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

 

147

 

0

 

(1,353

)

(1

)

95

 

(1,259

)

Gross profit from sales

 

 

 

147

 

0

 

(1,353

)

(1

)

95

 

(1,259

)

Selling costs

 

 

 

80

 

0

 

0

 

(1

)

1

 

0

 

General administrative costs

 

 

 

260

 

0

 

0

 

(14

)

14

 

0

 

Other operating income

 

 

 

(648

)

0

 

(1,903

)

(641

)

(1,170

)

(3,714

)

Other operating expense

 

 

 

(883

)

0

 

606

 

(2,412

)

(106

)

(1,912

)

Operating results

 

2

 

(1,044

)

0

 

(2,650

)

(3,069

)

(1,166

)

(6,885

)

Financial income (expense), net

 

 

 

542

 

0

 

92

 

0

 

1,138

 

1,230

 

of which interest expenses

 

3

 

0

 

0

 

0

 

0

 

0

 

0

 

Income (loss) before income taxes

 

4

 

(502

)

0

 

(2,558

)

(3,069

)

(28

)

(5,655

)

Income taxes

 

5

 

(865

)

(1

)

986

 

160

 

(21

)

1,124

 

Income (loss) after taxes

 

6

 

(1,367

)

(1

(1,572

)

(2,909

)

(49

)

(4,531

)

Income (losses) applicable to minority shareholders

 

7

 

0

 

0

 

0

 

0

 

0

 

0

 

Net income (loss)

 

8

 

(1,367

)

(1

)

(1,572

)

(2,909

)

(49

)

(4,531

)

EBIT

 

9

 

(1,044

)

0

 

(2,650

)

(3,069

)

(1,166

)

(6,885

)

EBIT margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

10

 

(70

)

0

 

(1,297

)

(641

)

(1,241

)

(3,179

)

EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

11

 

(974

)

0

 

(1,353

)

(2,428

)

73

 

(3,706

)

Capex

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cash flow before dividend

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt (billions of )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited and preliminary Figures

34



 

Step 1: IFRS. T-Com.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

28

 

29,206

 

6,975

 

6,882

 

6,806

 

7,151

 

27,814

 

of which domestic

 

 

 

25,351

 

6,059

 

5,906

 

5,791

 

6,165

 

23,921

 

of which international

 

 

 

3,855

 

916

 

976

 

1,015

 

986

 

3,893

 

Net revenue

 

29

 

25,116

 

6,053

 

6,054

 

6,007

 

6,311

 

24,425

 

EBITDA

 

30

 

10,164

 

2,605

 

2,592

 

2,576

 

2,467

 

10,240

 

of which domestic

 

 

 

8,541

 

2,181

 

2,156

 

2,115

 

2,210

 

8,662

 

of which international

 

 

 

1,623

 

424

 

436

 

461

 

257

 

1,578

 

EBITDA margin

 

 

 

34.8

%

37.3

%

37.7

%

37.8

%

34.5

%

36.8

%

Special factors affecting EBITDA

 

31

 

(192

)

(36

)

0

 

(17

)

(173

)

(226

)

Adj. EBITDA

 

32

 

10,356

 

2,641

 

2,592

 

2,593

 

2,640

 

10,466

 

of which domestic

 

 

 

8,667

 

2,217

 

2,156

 

2,116

 

2,249

 

8,738

 

of which international

 

 

 

1,689

 

424

 

436

 

477

 

391

 

1,728

 

Adj. EBITDA margin

 

 

 

35.5

%

37.9

%

37.7

%

38.1

%

36.9

%

37.6

%

Depreciation and amortization

 

33

 

(5,169

)

(1,184

)

(1,204

)

(1,158

)

(1,244

)

(4,790

)

Financial income (expense), net

 

34

 

(284

)

(15

)

28

 

45

 

53

 

111

 

Income (loss) before income taxes

 

35

 

4,690

 

1,399

 

1,405

 

1,455

 

1,266

 

5,525

 

Capex

 

36

 

2,129

 

384

 

521

 

518

 

907

 

2,330

 

of which domestic

 

 

 

1,516

 

292

 

380

 

384

 

564

 

1,620

 

of which international

 

 

 

613

 

92

 

141

 

134

 

343

 

710

 

Number of employees (average)

 

 

 

139,548

 

125,700

 

125,782

 

125,914

 

124,184

 

125,395

 

of which domestic

 

 

 

106,571

 

94,506

 

94,943

 

95,583

 

94,937

 

94,992

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS figures,
CEE mobile

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

 

 

1,187

 

286

 

329

 

374

 

344

 

1,333

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which international

 

 

 

1,187

 

286

 

329

 

374

 

344

 

1,333

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

 

 

598

 

149

 

187

 

189

 

154

 

679

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which international

 

 

 

598

 

149

 

187

 

189

 

154

 

679

 

EBITDA margin

 

 

 

50.4

%

52.1

%

56.8

%

50.5

%

44.8

%

50.9

%

Special factors affecting EBITDA

 

 

 

0

 

0

 

0

 

0

 

(2

)

(2

)

Adj. EBITDA

 

 

 

598

 

149

 

187

 

189

 

156

 

681

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which international

 

 

 

598

 

149

 

187

 

189

 

156

 

681

 

Adj. EBITDA margin

 

 

 

50.4

%

52.1

%

56.8

%

50.5

%

45.3

%

51.1

%

Depreciation and amortization

 

 

 

(295

)

(50

)

(51

)

(107

)

(56

)

(264

)

Financial income (expense), net

 

 

 

(286

)

(278

)

1

 

(13

)

(102

)

(392

)

Income (loss) before income taxes

 

 

 

17

 

(179

)

136

 

70

 

(5

)

23

 

Capex

 

 

 

229

 

38

 

50

 

44

 

183

 

315

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which international

 

 

 

229

 

38

 

50

 

44

 

183

 

315

 

Number of employees (average)

 

 

 

3,132

 

3,185

 

3,192

 

3,190

 

3,198

 

3,192

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 

Unaudited and preliminary Figures

35


Step 1: IFRS. T-Com.

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

28

 

(135

)

(57

)

(9

)

(63

)

(99

)

(228

)

of which domestic

 

 

 

(126

)

(54

)

(12

)

(64

)

(98

)

(228

)

of which international

 

 

 

(9

)

(3

)

3

 

1

 

(1

)

0

 

Net revenue

 

29

 

(1,420

)

(368

)

(384

)

(483

)

(483

)

(1,718

)

EBITDA

 

30

 

253

 

(6

)

23

 

(19

)

(21

)

(23

)

of which domestic

 

 

 

310

 

3

 

18

 

4

 

(12

)

13

 

of which international

 

 

 

(57

)

(9

)

5

 

(23

)

(9

)

(36

)

EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Special factors affecting EBITDA

 

31

 

135

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

32

 

118

 

(6

)

23

 

(19

)

(21

)

(23

)

of which domestic

 

 

 

175

 

3

 

18

 

4

 

(30

)

(5

)

of which international

 

 

 

(57

)

(9

)

5

 

(23

)

9

 

(18

)

Adj. EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

33

 

213

 

78

 

59

 

(101

)

186

 

222

 

Financial income (expense), net

 

34

 

(155

)

(38

)

(41

)

(40

)

(42

)

(161

)

Income (loss) before income taxes

 

35

 

332

 

41

 

51

 

(151

)

132

 

74

 

Capex

 

36

 

(30

)

(1

)

(12

)

14

 

12

 

13

 

of which domestic

 

 

 

(33

)

(1

)

(12

)

15

 

12

 

14

 

of which international

 

 

 

3

 

0

 

0

 

(1

)

0

 

(1

)

Number of employees (average)

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

28

 

27,884

 

6,632

 

6,544

 

6,369

 

6,708

 

26,253

 

of which domestic

 

 

 

25,225

 

6,005

 

5,894

 

5,727

 

6,067

 

23,693

 

of which international

 

 

 

2,659

 

627

 

650

 

642

 

641

 

2,560

 

Net revenue

 

29

 

23,696

 

5,685

 

5,670

 

5,524

 

5,828

 

22,707

 

EBITDA

 

30

 

9,819

 

2,450

 

2,428

 

2,368

 

2,292

 

9,538

 

of which domestic

 

 

 

8,851

 

2,184

 

2,174

 

2,119

 

2,198

 

8,675

 

of which international

 

 

 

968

 

266

 

254

 

249

 

94

 

863

 

EBITDA margin

 

 

 

35.2

%

36.9

%

37.1

%

37.2

%

34.2

%

36.3

%

Special factors affecting EBITDA

 

31

 

(57

)

(36

)

0

 

(17

)

(171

)

(224

)

Adj. EBITDA

 

32

 

9,876

 

2,486

 

2,428

 

2,385

 

2,463

 

9,762

 

of which domestic

 

 

 

8,842

 

2,220

 

2,174

 

2,120

 

2,219

 

8,733

 

of which international

 

 

 

1,034

 

266

 

254

 

265

 

244

 

1,029

 

Adj. EBITDA margin

 

 

 

35.4

%

37.5

%

37.1

%

37.4

%

36.7

%

37.2

%

Depreciation and amortization

 

33

 

(4,661

)

(1,056

)

(1,094

)

(1,152

)

(1,002

)

(4,304

)

Financial income (expense), net

 

34

 

(153

)

225

 

(14

)

18

 

113

 

342

 

Income (loss) before income taxes

 

35

 

5,005

 

1,619

 

1,320

 

1,234

 

1,403

 

5,576

 

Capex

 

36

 

1,870

 

345

 

459

 

488

 

736

 

2,028

 

of which domestic

 

 

 

1,483

 

291

 

368

 

399

 

576

 

1,634

 

of which international

 

 

 

387

 

54

 

91

 

89

 

160

 

394

 

Number of employees (average)

 

 

 

136,416

 

122,515

 

122,590

 

122,724

 

120,985

 

122,203

 

of which domestic

 

 

 

106,571

 

94,506

 

94,943

 

95,583

 

94,937

 

94,992

 

 

Unaudited and preliminary Figures

36



 

Step 1: IFRS. T-Mobile.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

46

 

22,778

 

5,944

 

6,237

 

6,479

 

6,335

 

24,995

 

Net revenue

 

47

 

21,572

 

5,678

 

6,005

 

6,273

 

6,132

 

24,088

 

EBITDA

 

48

 

7,016

 

1,677

 

3,210

 

2,798

 

2,911

 

10,596

 

EBITDA margin

 

 

 

30.8

%

28.2

%

51.5

%

43.2

%

46.0

%

42.4

%

Special factors affecting EBITDA

 

49

 

345

 

0

 

1,280

 

636

 

1,012

 

2,928

 

Adj. EBITDA

 

50

 

6,671

 

1,677

 

1,930

 

2,162

 

1,899

 

7,668

 

Adj. EBITDA margin

 

 

 

29.3

%

28.2

%

30.9

%

33.4

%

30.0

%

30.7

%

Depreciation and amortization

 

51

 

(5,196

)

(1,234

)

(1,270

)

(1,282

)

(1,302

)

(5,088

)

Financial income (expense), net

 

52

 

(895

)

(265

)

(65

)

(203

)

(241

)

(774

)

Income (loss) before income taxes

 

53

 

831

 

156

 

1,846

 

1,287

 

1,347

 

4,636

 

Capex

 

54

 

3,012

 

452

 

644

 

471

 

844

 

2,411

 

Number of employees (average)

 

 

 

41,767

 

43,152

 

44,215

 

44,920

 

44,617

 

44,226

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

46

 

(55

)

(19

)

14

 

3

 

(48

)

(50

)

Net revenue

 

47

 

(55

)

(18

)

13

 

3

 

(49

)

(51

)

EBITDA

 

48

 

(417

)

1

 

(1,187

)

(628

)

(995

)

(2,809

)

Special factors affecting EBITDA

 

49

 

(345

)

0

 

(1,205

)

(641

)

(1,014

)

(2,860

)

Adj. EBITDA

 

50

 

(72

)

1

 

18

 

13

 

19

 

51

 

Depreciation and amortization

 

51

 

1,720

 

599

 

(844

)

(1,825

)

484

 

(1,586

)

Financial income (expense), net

 

52

 

448

 

(4

)

(25

)

(13

)

916

 

874

 

Income (loss) before income taxes

 

53

 

1,845

 

618

 

(2,027

)

(2,440

)

426

 

(3,423

)

Capex

 

54

 

586

 

(91

)

95

 

93

 

87

 

184

 

Number of employees (average)

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta CEE

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

 

 

1,475

 

347

 

398

 

432

 

405

 

1,582

 

Net revenue

 

 

 

1,287

 

306

 

354

 

387

 

366

 

1,413

 

EBITDA

 

 

 

603

 

148

 

179

 

199

 

150

 

676

 

EBITDA margin

 

 

 

40.9

%

42.7

%

45.0

%

46.1

%

37.0

%

42.7

%

Special factors affecting EBITDA

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

 

 

603

 

148

 

179

 

199

 

150

 

676

 

Adj. EBITDA margin

 

 

 

40.9

%

42.7

%

45.0

%

46.1

%

37.0

%

42.7

%

Depreciation and amortization

 

 

 

(292

)

(50

)

(52

)

(108

)

(69

)

(279

)

Financial income (expense), net

 

 

 

(18

)

(5

)

(4

)

(8

)

(12

)

(29

)

Income (loss) before income taxes

 

 

 

293

 

93

 

123

 

83

 

69

 

368

 

Capex

 

 

 

222

 

42

 

54

 

42

 

161

 

299

 

Number of employees (average)

 

 

 

3,132

 

3,185

 

3,192

 

3,190

 

3,198

 

3,192

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

46

 

24,198

 

6,272

 

6,649

 

6,914

 

6,692

 

26,527

 

Net revenue

 

47

 

22,804

 

5,966

 

6,372

 

6,663

 

6,449

 

25,450

 

EBITDA

 

48

 

7,202

 

1,826

 

2,202

 

2,369

 

2,066

 

8,463

 

EBITDA margin

 

 

 

29.8

%

29.1

%

33.1

%

34.3

%

30.9

%

31.9

%

Special factors affecting EBITDA

 

49

 

0

 

0

 

75

 

(5

)

(2

)

68

 

Adj. EBITDA

 

50

 

7,202

 

1,826

 

2,127

 

2,374

 

2,068

 

8,395

 

Adj. EBITDA margin

 

 

 

29.8

%

29.1

%

32.0

%

34.3

%

30.9

%

31.6

%

Depreciation and amortization

 

51

 

(3,768

)

(685

)

(2,166

)

(3,215

)

(887

)

(6,953

)

Financial income (expense), net

 

52

 

(465

)

(274

)

(94

)

(224

)

663

 

71

 

Income (loss) before income taxes

 

53

 

2,969

 

867

 

(58

)

(1,070

)

1,842

 

1,581

 

Capex

 

54

 

3,820

 

403

 

793

 

606

 

1,092

 

2,894

 

Number of employees (average)

 

 

 

44,899

 

46,337

 

47,407

 

48,111

 

47,815

 

47,418

 

 

Unaudited and preliminary Figures

37



 

Step 1: IFRS. T-Mobile Deutschland.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

55

 

8,479

 

2,121

 

2,161

 

2,238

 

2,184

 

8,704

 

EBITDA

 

56

 

3,598

 

773

 

832

 

916

 

942

 

3,463

 

EBITDA margin

 

 

 

42.4

%

36.4

%

38.5

%

40.9

%

43.1

%

39.8

%

Special factors affecting EBITDA

 

 

 

(7

)

0

 

0

 

(5

)

(2

)

(7

)

Adj. EBITDA

 

56

 

3,605

 

773

 

832

 

921

 

944

 

3,470

 

Adj. EBITDA margin

 

 

 

42.5

%

36.4

%

38.5

%

41.2

%

43.2

%

39.9

%

Capex

 

57

 

462

 

57

 

72

 

83

 

159

 

371

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

55

 

0

 

(1

)

18

 

23

 

1

 

41

 

EBITDA

 

56

 

77

 

30

 

48

 

37

 

55

 

170

 

EBITDA margin

 

 

 

0.9

%pts

1.4

%pts

1.9

%pts

1.2

%pts

2.5

%pts

1.8

%pts

Special factors affecting EBITDA

 

 

 

7

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

56

 

70

 

30

 

48

 

37

 

55

 

170

 

Adj. EBITDA margin

 

 

 

0.8

%pts

1.4

%pts

1.9

%pts

1.2

%pts

2.5

%pts

1.8

%pts

Capex

 

57

 

325

 

1

 

24

 

36

 

42

 

103

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

55

 

8,479

 

2,120

 

2,179

 

2,261

 

2,185

 

8,745

 

EBITDA

 

56

 

3,675

 

803

 

880

 

953

 

997

 

3,633

 

EBITDA margin

 

 

 

43.3

%

37.9

%

40.4

%

42.1

%

45.6

%

41.5

%

Special factors affecting EBITDA

 

 

 

0

 

0

 

0

 

(5

)

(2

)

(7

)

Adj. EBITDA

 

56

 

3,675

 

803

 

880

 

958

 

999

 

3,640

 

Adj. EBITDA margin

 

 

 

43.3

%

37.9

%

40.4

%

42.4

%

45.7

%

41.6

%

Capex

 

57

 

787

 

58

 

96

 

119

 

201

 

474

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Step 1: IFRS. T-Mobile UK.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

58

 

4,303

 

1,133

 

1,108

 

1,106

 

997

 

4,344

 

EBITDA

 

58

 

1,060

 

385

 

440

 

384

 

233

 

1,442

 

EBITDA margin

 

 

 

24.6

%

34.0

%

39.7

%

34.7

%

23.4

%

33.2

%

Special factors affecting EBITDA

 

58

 

0

 

0

 

75

 

0

 

0

 

75

 

Adj. EBITDA

 

58

 

1,060

 

385

 

365

 

384

 

233

 

1,367

 

Adj. EBITDA margin

 

 

 

24.6

%

34.0

%

32.9

%

34.7

%

23.4

%

31.5

%

Capex

 

58

 

361

 

66

 

91

 

100

 

104

 

361

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

58

 

9

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

58

 

13

 

(1

)

4

 

6

 

4

 

13

 

EBITDA margin

 

 

 

0.3

%pts

(0.1

)%pts

0.4

%pts

0.5

%pts

0.4

%pts

0.3

%pts

Special factors affecting EBITDA

 

58

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

58

 

13

 

(1

)

4

 

6

 

4

 

13

 

Adj. EBITDA margin

 

 

 

0.3

%pts

(0.1

)%pts

0.4

%pts

0.5

%pts

0.4

%pts

0.3

%pts

Capex

 

58

 

20

 

1

 

(1

)

(3

)

20

 

17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

58

 

4,312

 

1,133

 

1,108

 

1,106

 

997

 

4,344

 

EBITDA

 

58

 

1,073

 

384

 

444

 

390

 

237

 

1,455

 

EBITDA margin

 

 

 

24.9

%

33.9

%

40.1

%

35.3

%

23.8

%

33.5

%

Special factors affecting EBITDA

 

58

 

0

 

0

 

75

 

0

 

0

 

75

 

Adj. EBITDA

 

58

 

1,073

 

384

 

369

 

390

 

237

 

1,380

 

Adj. EBITDA margin

 

 

 

24.9

%

33.9

%

33.3

%

35.3

%

23.8

%

31.8

%

Capex

 

58

 

381

 

67

 

90

 

97

 

124

 

378

 

 

Unaudited and preliminary Figures

38



 

Step 1: IFRS. T-Mobile USA.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

59

 

7,416

 

2,070

 

2,320

 

2,477

 

2,499

 

9,366

 

EBITDA

 

60

 

1,506

 

405

 

1,794

 

1,298

 

631

 

4,128

 

EBITDA margin

 

 

 

20.3

%

19.6

%

77.3

%

52.4

%

25.3

%

44.1

%

Special factors affecting EBITDA

 

61

 

0

 

0

 

1,205

 

641

 

73

 

1,919

 

Adj. EBITDA

 

62

 

1,506

 

405

 

589

 

657

 

558

 

2,209

 

Adj. EBITDA margin

 

 

 

20.3

%

19.6

%

25.4

%

26.5

%

22.3

%

23.6

%

Capex

 

63

 

1,817

 

289

 

419

 

197

 

415

 

1,320

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

59

 

(53

)

(17

)

(3

)

(19

)

(49

)

(88

)

EBITDA

 

60

 

(182

)

(36

)

(1,241

)

(673

)

(122

)

(2,072

)

EBITDA margin

 

 

 

(2.3

)%pts

(1.6

)%pts

(53.5

)%pts

(27.0

)%pts

(4.5

)%pts

(21.9

)%pts

Special factors affecting EBITDA

 

61

 

0

 

0

 

(1,205

)

(641

)

(73

)

(1,919

)

Adj. EBITDA

 

62

 

(182

)

(36

)

(36

)

(32

)

(49

)

(153

)

Adj. EBITDA margin

 

 

 

(2.3

)%pts

(1.6

)%pts

(1.5

)%pts

(1.1

)%pts

(1.6

)%pts

(1.4

)%pts

Capex

 

63

 

195

 

(98

)

63

 

51

 

(3

)

13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

59

 

7,363

 

2,053

 

2,317

 

2,458

 

2,450

 

9,278

 

EBITDA

 

60

 

1,324

 

369

 

553

 

625

 

509

 

2,056

 

EBITDA margin

 

 

 

18.0

%

18.0

%

23.9

%

25.4

%

20.8

%

22.2

%

Special factors affecting EBITDA

 

61

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

62

 

1,324

 

369

 

553

 

625

 

509

 

2,056

 

Adj. EBITDA margin

 

 

 

18.0

%

18.0

%

23.9

%

25.4

%

20.8

%

22.2

%

Capex

 

63

 

2,012

 

191

 

482

 

248

 

412

 

1,333

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Step 1: IFRS. T-Mobile Netherlands.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

64

 

861

 

250

 

267

 

270

 

259

 

1,046

 

EBITDA

 

64

 

45

 

1

 

31

 

55

 

40

 

127

 

EBITDA margin

 

 

 

5.2

%

0.4

%

11.6

%

20.4

%

15.4

%

12.1

%

Special factors affecting EBITDA

 

64

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

64

 

45

 

1

 

31

 

55

 

40

 

127

 

Adj. EBITDA margin

 

 

 

5.2

%

0.4

%

11.6

%

20.4

%

15.4

%

12.1

%

Capex

 

64

 

139

 

17

 

20

 

29

 

72

 

138

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

64

 

(1

)

0

 

0

 

0

 

0

 

0

 

EBITDA

 

64

 

17

 

2

 

6

 

3

 

6

 

17

 

EBITDA margin

 

 

 

2.0

%pts

0.8

%pts

2.2

%pts

1.1

%pts

2.3

%pts

1.6

%pts

Special factors affecting EBITDA

 

64

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

64

 

17

 

2

 

6

 

3

 

6

 

17

 

Adj. EBITDA margin

 

 

 

2.0

%pts

0.8

%pts

2.2

%pts

1.1

%pts

2.3

%pts

1.6

%pts

Capex

 

64

 

37

 

2

 

5

 

5

 

7

 

19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

64

 

860

 

250

 

267

 

270

 

259

 

1,046

 

EBITDA

 

64

 

62

 

3

 

37

 

58

 

46

 

144

 

EBITDA margin

 

 

 

7.2

%

1.2

%

13.9

%

21.5

%

17.8

%

13.8

%

Special factors affecting EBITDA

 

64

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

64

 

62

 

3

 

37

 

58

 

46

 

144

 

Adj. EBITDA margin

 

 

 

7.2

%

1.2

%

13.9

%

21.5

%

17.8

%

13.8

%

Capex

 

64

 

176

 

19

 

25

 

34

 

79

 

157

 

 

Unaudited and preliminary Figures

39



 

Step 1: IFRS. T-Mobile Austria.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

65

 

1,098

 

236

 

210

 

222

 

215

 

883

 

EBITDA

 

65

 

340

 

55

 

50

 

66

 

65

 

236

 

EBITDA margin

 

 

 

31.0

%

23.3

%

23.8

%

29.7

%

30.2

%

26.7

%

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

65

 

340

 

55

 

50

 

66

 

65

 

236

 

Adj. EBITDA margin

 

 

 

31.0

%

23.3

%

23.8

%

29.7

%

30.2

%

26.7

%

Capex

 

65

 

122

 

13

 

24

 

44

 

36

 

117

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

65

 

0

 

(1

)

0

 

(1

)

1

 

(1

)

EBITDA

 

65

 

6

 

0

 

1

 

0

 

3

 

4

 

EBITDA margin

 

 

 

0.5

%pts

0.1

%pts

0.5

%pts

0.1

%pts

1.2

%pts

0.5

%pts

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

65

 

6

 

0

 

1

 

0

 

3

 

4

 

Adj. EBITDA margin

 

 

 

0.5

%pts

0.1

%pts

0.5

%pts

0.1

%pts

1.2

%pts

0.5

%pts

Capex

 

65

 

3

 

0

 

1

 

0

 

7

 

8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

65

 

1,098

 

235

 

210

 

221

 

216

 

882

 

EBITDA

 

65

 

346

 

55

 

51

 

66

 

68

 

240

 

EBITDA margin

 

 

 

31.5

%

23.4

%

24.3

%

29.9

%

31.5

%

27.2

%

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

65

 

346

 

55

 

51

 

66

 

68

 

240

 

Adj. EBITDA margin

 

 

 

31.5

%

23.4

%

24.3

%

29.9

%

31.5

%

27.2

%

Capex

 

65

 

125

 

13

 

25

 

44

 

43

 

125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Step 1: IFRS. T-Mobile CZ.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

66

 

768

 

186

 

204

 

213

 

225

 

828

 

EBITDA

 

66

 

339

 

84

 

89

 

105

 

84

 

362

 

EBITDA margin

 

 

 

44.1

%

45.2

%

43.6

%

49.3

%

37.3

%

43.7

%

Special factors affecting EBITDA

 

66

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

66

 

339

 

84

 

89

 

105

 

84

 

362

 

Adj. EBITDA margin

 

 

 

44.1

%

45.2

%

43.6

%

49.3

%

37.3

%

43.7

%

Capex

 

66

 

85

 

7

 

14

 

16

 

51

 

88

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

66

 

(11

)

0

 

(1

)

0

 

0

 

(1

)

EBITDA

 

66

 

1

 

2

 

1

 

(3

)

2

 

2

 

EBITDA margin

 

 

 

0.8

%pts

1.1

%pts

0.7

%pts

(1.4

)%pts

0.9

%pts

0.3

%pts

Special factors affecting EBITDA

 

66

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

66

 

1

 

2

 

1

 

(3

)

2

 

2

 

Adj. EBITDA margin

 

 

 

0.8

%pts

1.1

%pts

0.7

%pts

(1.4

)%pts

0.9

%pts

0.3

%pts

Capex

 

66

 

2

 

1

 

2

 

0

 

11

 

14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

66

 

757

 

186

 

203

 

213

 

225

 

827

 

EBITDA

 

66

 

340

 

86

 

90

 

102

 

86

 

364

 

EBITDA margin

 

 

 

44.9

%

46.2

%

44.3

%

47.9

%

38.2

%

44.0

%

Special factors affecting EBITDA

 

66

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

66

 

340

 

86

 

90

 

102

 

86

 

364

 

Adj. EBITDA margin

 

 

 

44.9

%

46.2

%

44.3

%

47.9

%

38.2

%

44.0

%

Capex

 

66

 

87

 

8

 

16

 

16

 

62

 

102

 

 

Unaudited and preliminary Figures

40



 

Step 1: IFRS. T-Systems.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

67

 

10,614

 

2,475

 

2,625

 

2,564

 

2,873

 

10,537

 

Net revenue

 

68

 

7,184

 

1,722

 

1,813

 

1,747

 

1,956

 

7,238

 

EBITDA

 

69

 

1,412

 

301

 

318

 

392

 

346

 

1,357

 

EBITDA margin

 

 

 

13.3

%

12.2

%

12.1

%

15.3

%

12.0

%

12.9

%

Special factors affecting EBITDA

 

70

 

(3

)

0

 

(43

)

(5

)

(68

)

(116

)

Adj. EBITDA

 

71

 

1,415

 

301

 

361

 

397

 

414

 

1,473

 

Adj. EBITDA margin

 

 

 

13.3

%

12.2

%

13.8

%

15.5

%

14.4

%

14.0

%

Depreciation and amortization

 

72

 

(1,499

)

(340

)

(350

)

(342

)

(356

)

(1,388

)

EBIT

 

73

 

(87

)

(39

)

(32

)

50

 

(10

)

(31

)

Financial income (expense), net

 

74

 

(486

)

(150

)

(5

)

(9

)

(10

)

(174

)

Income (loss) before income taxes

 

75

 

(581

)

(190

)

(38

)

39

 

(22

)

(211

)

Capex

 

76

 

660

 

127

 

194

 

181

 

218

 

720

 

Number of employees (average)

 

 

 

42,108

 

40,352

 

39,867

 

39,750

 

39,551

 

39,880

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

67

 

(145

)

(11

)

(9

)

(61

)

(87

)

(168

)

Net revenue

 

68

 

(150

)

(11

)

(17

)

(100

)

(67

)

(195

)

EBITDA

 

69

 

116

 

25

 

9

 

(43

)

(39

)

(48

)

EBITDA margin

 

 

 

1.3

%pts

1.1

%pts

0.4

%pts

(1.3

)%pts

(1.0

)%pts

(0.3

)%pts

Special factors affecting EBITDA

 

70

 

70

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

71

 

46

 

25

 

9

 

(43

)

(39

)

(48

)

Adj. EBITDA margin

 

 

 

0.6

%pts

1.1

%pts

0.4

%pts

(1.4

)%pts

(0.9

)%pts

(0.2

)%pts

Depreciation and amortization

 

72

 

477

 

114

 

114

 

118

 

121

 

467

 

EBIT

 

73

 

593

 

139

 

123

 

75

 

82

 

419

 

Financial income (expense), net

 

74

 

(36

)

(11

)

(18

)

(160

)

(14

)

(203

)

Income (loss) before income taxes

 

75

 

566

 

129

 

106

 

(83

)

70

 

222

 

Capex

 

76

 

206

 

10

 

10

 

5

 

74

 

99

 

Number of employees (average)

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

67

 

10,469

 

2,464

 

2,616

 

2,503

 

2,786

 

10,369

 

Net revenue

 

68

 

7,034

 

1,711

 

1,796

 

1,647

 

1,889

 

7,043

 

EBITDA

 

69

 

1,528

 

326

 

327

 

349

 

307

 

1,309

 

EBITDA margin

 

 

 

14.6

%

13.2

%

12.5

%

13.9

%

11.0

%

12.6

%

Special factors affecting EBITDA

 

70

 

67

 

0

 

(43

)

(5

)

(68

)

(116

)

Adj. EBITDA

 

71

 

1,461

 

326

 

370

 

354

 

375

 

1,425

 

Adj. EBITDA margin

 

 

 

14.0

%

13.2

%

14.1

%

14.1

%

13.5

%

13.7

%

Depreciation and amortization

 

72

 

(1,022

)

(226

)

(236

)

(224

)

(235

)

(921

)

EBIT

 

73

 

506

 

100

 

91

 

125

 

72

 

388

 

Financial income (expense), net

 

74

 

(522

)

(161

)

(23

)

(169

)

(24

)

(377

)

Income (loss) before income taxes

 

75

 

(15

)

(61

)

68

 

(44

)

48

 

11

 

Capex

 

76

 

866

 

137

 

204

 

186

 

292

 

819

 

Number of employees (average)

 

 

 

42,108

 

40,352

 

39,867

 

39,750

 

39,551

 

39,880

 

 

Unaudited and preliminary Figures

41



 

Step 1: IFRS. T-Online.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

37

 

1,851

 

493

 

500

 

464

 

522

 

1,979

 

Net revenue

 

38

 

1,662

 

453

 

456

 

419

 

465

 

1,793

 

EBITDA

 

39

 

335

 

119

 

128

 

110

 

62

 

419

 

EBITDA margin

 

 

 

18.1

%

24.1

%

25.6

%

23.7

%

11.9

%

21.2

%

Special factors affecting EBITDA

 

40

 

25

 

0

 

0

 

(1

)

0

 

(1

)

Adj. EBITDA

 

41

 

310

 

119

 

128

 

111

 

62

 

420

 

Adj. EBITDA margin

 

 

 

16.7

%

24.1

%

25.6

%

23.9

%

11.9

%

21.2

%

Depreciation and amortization

 

42

 

(430

)

(109

)

(111

)

(112

)

(120

)

(452

)

Financial income (expense), net

 

43

 

200

 

27

 

28

 

26

 

28

 

109

 

Income (loss) before income taxes

 

44

 

104

 

37

 

45

 

24

 

(33

)

73

 

Capex

 

45

 

81

 

12

 

18

 

15

 

65

 

110

 

Number of employees (average)

 

 

 

2,637

 

2,918

 

2,945

 

2,981

 

3,007

 

2,963

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

37

 

0

 

(4

)

(1

)

22

 

16

 

33

 

Net revenue

 

38

 

1

 

(5

)

(1

)

22

 

15

 

31

 

EBITDA

 

39

 

4

 

(1

)

1

 

25

 

19

 

44

 

EBITDA margin

 

 

 

0.2

%pts

0.0

%pts

0.3

%pts

4.1

%pts

3.2

%pts

1.8

%pts

Special factors affecting EBITDA

 

40

 

(1

)

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

41

 

5

 

(1

)

1

 

25

 

19

 

44

 

Adj. EBITDA margin

 

 

 

0.3

%pts

0.0

%pts

0.3

%pts

4.1

%pts

3.2

%pts

1.8

%pts

Depreciation and amortization

 

42

 

348

 

87

 

87

 

88

 

82

 

344

 

Financial income (expense), net

 

43

 

(54

)

3

 

4

 

4

 

4

 

15

 

Income (loss) before income taxes

 

44

 

299

 

89

 

92

 

117

 

108

 

406

 

Capex

 

45

 

9

 

1

 

0

 

4

 

6

 

11

 

Number of employees (average)

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

37

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

Net revenue

 

38

 

1,663

 

448

 

455

 

441

 

480

 

1,824

 

EBITDA

 

39

 

339

 

118

 

129

 

135

 

81

 

463

 

EBITDA margin

 

 

 

18.3

%

24.1

%

25.9

%

27.8

%

15.1

%

23.0

%

Special factors affecting EBITDA

 

40

 

24

 

0

 

0

 

(1

)

0

 

(1

)

Adj. EBITDA

 

41

 

315

 

118

 

129

 

136

 

81

 

464

 

Adj. EBITDA margin

 

 

 

17.0

%

24.1

%

25.9

%

28.0

%

15.1

%

23.1

%

Depreciation and amortization

 

42

 

(82

)

(22

)

(24

)

(24

)

(38

)

(108

)

Financial income (expense), net

 

43

 

146

 

30

 

32

 

30

 

32

 

124

 

Income (loss) before income taxes

 

44

 

403

 

126

 

137

 

141

 

75

 

479

 

Capex

 

45

 

90

 

13

 

18

 

19

 

71

 

121

 

Number of employees (average)

 

 

 

2,637

 

2,918

 

2,945

 

2,981

 

3,007

 

2,963

 

 

Unaudited and preliminary Figures

42



 

Step 1: IFRS. GHS.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

77

 

4,268

 

1,090

 

1,154

 

1,164

 

1,093

 

4,501

 

Net revenue

 

78

 

304

 

80

 

84

 

78

 

94

 

336

 

EBITDA

 

79

 

(276

)

(163

)

(81

)

69

 

(142

)

(317

)

of which Vivento

 

80

 

(434

)

(250

)

(261

)

(152

)

(123

)

(786

)

EBITDA margin

 

 

 

(6.5

)%

(15.0

)%

(7.0

)%

5.9

%

(13.0

)%

(7.0

)%

Special factors affecting EBITDA

 

81

 

40

 

(33

)

135

 

21

 

176

 

299

 

Adj. EBITDA

 

82

 

(316

)

(130

)

(216

)

48

 

(318

)

(616

)

of which Vivento

 

83

 

(491

)

(217

)

(304

)

(183

)

(186

)

(890

)

Adj. EBITDA margin

 

 

 

(7.4

)%

(11.9

)%

(18.7

)%

4.1

%

(29.1

)%

(13.7

)%

Depreciation and amortization

 

84

 

(881

)

(212

)

(173

)

(180

)

(281

)

(846

)

Financial income (expense), net

 

85

 

(2,877

)

(768

)

(574

)

(676

)

(554

)

(2,572

)

Income (loss) before income taxes

 

86

 

(4,071

)

(1,156

)

(839

)

(799

)

(998

)

(3,792

)

Capex

 

87

 

416

 

57

 

131

 

124

 

178

 

490

 

Number of employees (average)

 

 

 

25,203

 

36,239

 

34,976

 

34,795

 

34,371

 

35,095

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

77

 

(2

)

(5

)

(4

)

(5

)

(4

)

(18

)

Net revenue

 

78

 

2

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

79

 

163

 

98

 

30

 

7

 

(192

)

(57

)

of which Vivento(1)

 

80

 

n.a.

 

42

 

32

 

35

 

(62

)

47

 

EBITDA margin

 

 

 

3.8

%pts

9.0

%pts

2.6

%pts

0.6

%pts

(17.7

)%pts

(1.3

)%pts

Special factors affecting EBITDA

 

81

 

67

 

0

 

(92

)

0

 

(215

)

(307

)

Adj. EBITDA

 

82

 

96

 

98

 

122

 

7

 

23

 

250

 

of which Vivento(1)

 

83

 

n.a.

 

42

 

32

 

35

 

(13

)

96

 

Adj. EBITDA margin

 

 

 

2.2

%pts

9.0

%pts

10.5

%pts

0.6

%pts

2.0

%pts

5.5

%pts

Depreciation and amortization

 

84

 

61

 

0

 

(33

)

(67

)

32

 

(68

)

Financial income (expense), net

 

85

 

(452

)

(44

)

(78

)

11

 

(5

)

(116

)

Income (loss) before income taxes

 

86

 

(191

)

67

 

(70

)

(37

)

(144

)

(184

)

Capex

 

87

 

479

 

4

 

19

 

65

 

126

 

214

 

Number of employees (average)

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

77

 

4,266

 

1,085

 

1,150

 

1,159

 

1,089

 

4,483

 

Net revenue

 

78

 

306

 

80

 

84

 

78

 

94

 

336

 

EBITDA

 

79

 

(113

)

(65

)

(51

)

76

 

(334

)

(374

)

of which Vivento

 

80

 

n.a.

 

(208

)

(229

)

(117

)

(185

)

(739

)

EBITDA margin

 

 

 

(2.6

)%

(6.0

)%

(4.4

)%

6.6

%

(30.7

)%

(8.3

)%

Special factors affecting EBITDA

 

81

 

107

 

(33

)

43

 

21

 

(39

)

(8

)

Adj. EBITDA

 

82

 

(220

)

(32

)

(94

)

55

 

(295

)

(366

)

of which Vivento

 

83

 

n.a.

 

(175

)

(272

)

(148

)

(199

)

(794

)

Adj. EBITDA margin

 

 

 

(5.2

)%

(2.9

)%

(8.2

)%

4.7

%

(27.1

)%

(8.2

)%

Depreciation and amortization

 

84

 

(820

)

(212

)

(206

)

(247

)

(249

)

(914

)

Financial income (expense), net

 

85

 

(3,329

)

(812

)

(652

)

(665

)

(559

)

(2,688

)

Income (loss) before income taxes

 

86

 

(4,262

)

(1,089

)

(909

)

(836

)

(1,142

)

(3,976

)

Capex

 

87

 

895

 

61

 

150

 

189

 

304

 

704

 

Number of employees (average)

 

 

 

25,203

 

36,239

 

34,976

 

34,795

 

34,371

 

35,095

 

 

Unaudited and preliminary Figures

43



 

Step 1: IFRS. Consolidation.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

 

 

(12,879

)

(2,991

)

(2,986

)

(2,953

)

(3,016

)

(11,946

)

Net revenue

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

 

 

(176

)

(23

)

(12

)

(140

)

195

 

20

 

Special factors affecting EBITDA

 

 

 

(28

)

0

 

0

 

(93

)

160

 

67

 

Adj. EBITDA

 

 

 

(148

)

(23

)

(12

)

(47

)

35

 

(47

)

Depreciation and amortization

 

 

 

291

 

63

 

93

 

83

 

77

 

316

 

Financial income (expense), net

 

 

 

311

 

61

 

(93

)

24

 

(19

)

(27

)

Income (loss) before income taxes

 

 

 

425

 

100

 

(13

)

(32

)

255

 

310

 

Capex

 

 

 

(64

)

(13

)

9

 

(34

)

(87

)

(125

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

 

 

(286

)

(61

)

(95

)

(125

)

(57

)

(338

)

Net revenue

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

 

 

90

 

(26

)

(25

)

36

 

(15

)

(30

)

Special factors affecting EBITDA

 

 

 

4

 

0

 

0

 

0

 

(14

)

(14

)

Adj. EBITDA

 

 

 

86

 

(26

)

(25

)

36

 

(1

)

(16

)

Depreciation and amortization

 

 

 

(242

)

(52

)

(81

)

(71

)

(40

)

(244

)

Financial income (expense), net

 

 

 

(235

)

(293

)

148

 

(38

)

(5

)

(188

)

Income (loss) before income taxes

 

 

 

(386

)

(370

)

43

 

(74

)

(62

)

(463

)

Capex

 

 

 

25

 

(36

)

47

 

24

 

35

 

70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

 

 

(13,165

)

(3,052

)

(3,081

)

(3,078

)

(3,073

)

(12,284

)

Net revenue

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

 

 

(86

)

(49

)

(37

)

(104

)

180

 

(10

)

Special factors affecting EBITDA

 

 

 

(24

)

0

 

0

 

(93

)

146

 

53

 

Adj. EBITDA

 

 

 

(62

)

(49

)

(37

)

(11

)

34

 

(63

)

Depreciation and amortization

 

 

 

49

 

11

 

12

 

12

 

37

 

72

 

Financial income (expense), net

 

 

 

76

 

(232

)

55

 

(14

)

(24

)

(215

)

Income (loss) before income taxes

 

 

 

39

 

(270

)

30

 

(106

)

193

 

(153

)

Capex

 

 

 

(39

)

(49

)

56

 

(10

)

(52

)

(55

)

 

Unaudited and preliminary Figures

44



 

Step 2: New structure. Broadband/Fixed Network.

 

Broadband/
Fixed Network

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

28,295

 

6,941

 

6,809

 

6,609

 

6,651

 

27,010

 

of which domestic

 

25,519

 

6,274

 

6,109

 

5,921

 

5,958

 

24,262

 

of which international

 

2,776

 

667

 

700

 

688

 

693

 

2,748

 

Net revenue

 

23,197

 

5,653

 

5,609

 

5,433

 

5,714

 

22,409

 

EBITDA

 

10,368

 

2,559

 

2,577

 

2,477

 

2,340

 

9,953

 

of which domestic

 

9,445

 

2,296

 

2,324

 

2,222

 

2,248

 

9,090

 

of which international

 

923

 

263

 

253

 

255

 

92

 

863

 

EBITDA margin

 

36.6

%

36.9

%

37.8

%

37.5

%

35.2

%

36.8

%

Special factors affecting EBITDA

 

(40

)

(33

)

0

 

(18

)

(169

)

(220

)

Adj. EBITDA

 

10,408

 

2,592

 

2,577

 

2,495

 

2,509

 

10,173

 

of which domestic

 

9,419

 

2,329

 

2,324

 

2,224

 

2,285

 

9,162

 

of which international

 

989

 

263

 

253

 

271

 

224

 

1,011

 

Adj. EBITDA margin

 

36.8

%

37.3

%

37.8

%

37.8

%

37.7

%

37.7

%

Depreciation and amortization

 

(4,747

)

(1,082

)

(1,122

)

(1,181

)

(1,023

)

(4,408

)

Financial income (expense), net

 

(15

)

261

 

20

 

49

 

149

 

479

 

Income (loss) before income taxes

 

5,606

 

1,738

 

1,475

 

1,345

 

1,466

 

6,024

 

Capex

 

1,994

 

358

 

465

 

498

 

798

 

2,119

 

of which domestic

 

1,588

 

298

 

368

 

404

 

628

 

1,698

 

of which international

 

406

 

60

 

97

 

94

 

170

 

421

 

Number of employees (average)

 

128,064

 

114,748

 

114,860

 

116,549

 

115,010

 

115,292

 

of which domestic

 

97,520

 

85,928

 

86,390

 

88,605

 

88,146

 

87,267

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

T   Com

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

27,206

 

6,599

 

6,470

 

6,254

 

6,278

 

25,601

 

of which domestic

 

24,599

 

5,982

 

5,825

 

5,618

 

5,644

 

23,069

 

of which international

 

2,607

 

617

 

645

 

636

 

634

 

2,532

 

Net revenue

 

21,534

 

5,205

 

5,154

 

4,992

 

5,234

 

20,585

 

EBITDA

 

10,080

 

2,457

 

2,440

 

2,342

 

2,265

 

9,504

 

of which domestic

 

9,111

 

2,191

 

2,186

 

2,093

 

2,171

 

8,641

 

of which international

 

969

 

266

 

254

 

249

 

94

 

863

 

EBITDA margin

 

37.1

%

37.2

%

37.7

%

37.4

%

36.1

%

37.1

%

Special factors affecting EBITDA

 

(40

)

(33

)

0

 

(17

)

(169

)

(219

)

Adj. EBITDA

 

10,120

 

2,490

 

2,440

 

2,359

 

2,434

 

9,723

 

of which domestic

 

9,085

 

2,224

 

2,186

 

2,094

 

2,208

 

8,712

 

of which international

 

1,035

 

266

 

254

 

265

 

226

 

1,011

 

Adj. EBITDA margin

 

37.2

%

37.7

%

37.7

%

37.7

%

38.8

%

38.0

%

Depreciation and amortization

 

(4,665

)

(1,058

)

(1,096

)

(1,155

)

(1,007

)

(4,316

)

Financial income (expense), net

 

(161

)

230

 

(11

)

(19

)

116

 

(354

)

Income (loss) before income taxes

 

5,254

 

1,629

 

1,333

 

1,206

 

1,374

 

5,542

 

Capex

 

1,839

 

345

 

447

 

479

 

727

 

1,998

 

of which domestic

 

1452

 

291

 

356

 

390

 

567

 

1,604

 

of which international

 

387

 

54

 

91

 

89

 

160

 

394

 

Number of employees (average)

 

125,428

 

111,830

 

111,915

 

113,568

 

112,002

 

112,329

 

of which domestic

 

95,583

 

83,821

 

84,269

 

86,427

 

85,954

 

85,118

 

 

Unaudited and preliminary Figures

45



 

 

T   Online

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,851

 

489

 

499

 

486

 

538

 

2012

 

Net revenue

 

1,663

 

448

 

455

 

441

 

480

 

1,824

 

EBITDA

 

339

 

118

 

129

 

135

 

81

 

463

 

EBITDA margin

 

18.3

%

24.1

%

25.9

%

27.8

%

15.1

%

23.0

%

Special factors affecting EBITDA

 

24

 

0

 

0

 

(1

)

0

 

(1

)

Adj. EBITDA

 

315

 

118

 

129

 

136

 

81

 

464

 

Adj. EBITDA margin

 

17.0

%

24.1

%

25.9

%

28.0

%

15.1

%

23.1

%

Depreciation and amortization

 

(82

)

(22

)

(24

)

(24

)

(38

)

(108

)

Financial income (expense), net

 

146

 

30

 

32

 

30

 

32

 

124

 

Income (loss) before income taxes

 

403

 

126

 

137

 

141

 

75

 

479

 

Capex

 

90

 

13

 

18

 

19

 

71

 

121

 

Number of employees (average)

 

2,637

 

2,918

 

2,945

 

2,981

 

3,007

 

2,963

 

of which domestic

 

1,937

 

2,107

 

2,121

 

2,178

 

2,192

 

2,149

 

 

Transfer out

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

2,730

 

563

 

602

 

585

 

1,047

 

2,797

 

Net revenue

 

2,955

 

676

 

708

 

664

 

745

 

2,793

 

EBITDA

 

(73

)

8

 

14

 

37

 

30

 

89

 

EBITDA margin

 

(2.7

)%

1.4

%

2.3

%

6.3

%

2.9

%

3.2

%

Special factors affecting EBITDA

 

17

 

4

 

0

 

0

 

2

 

6

 

Adj. EBITDA

 

(90

)

4

 

14

 

37

 

28

 

83

 

Adj. EBITDA margin

 

(3.3

)%

0.7

%

2.3

%

6.3

%

2.7

%

3.0

%

Depreciation and amortization

 

(64

)

(16

)

(16

)

(14

)

(11

)

(57

)

Financial income (expense), net

 

78

 

(11

)

16

 

12

 

38

 

55

 

Income (loss) before income taxes

 

(59

)

(19

)

14

 

35

 

57

 

87

 

Capex

 

51

 

6

 

16

 

9

 

1

 

30

 

Number of employees (average)

 

11,868

 

11,313

 

11,306

 

9,789

 

9,617

 

10,506

 

 

Transfer in

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,884

 

418

 

396

 

322

 

316

 

1,452

 

Net revenue

 

793

 

196

 

192

 

132

 

151

 

671

 

EBITDA

 

187

 

4

 

22

 

8

 

13

 

47

 

EBITDA margin

 

9.9

%

1.0

%

5.6

%

2.5

%

4.1

%

3.2

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

187

 

4

 

22

 

8

 

13

 

47

 

Adj. EBITDA margin

 

9.9

%

1.0

%

5.6

%

2.5

%

4.1

%

3.2

%

Depreciation and amortization

 

(65

)

(17

)

(18

)

(14

)

(16

)

(65

)

Financial income (expense), net

 

(7

)

1

 

(2

)

(3

)

1

 

(3

)

Income (loss) before income taxes

 

115

 

(12

)

2

 

(9

)

(2

)

(21

)

Capex

 

17

 

4

 

3

 

0

 

2

 

8

 

Number of employees (average)

 

880

 

628

 

631

 

633

 

634

 

631

 

 

Unaudited and preliminary Figures

46



 

Step 2: New structure. Business Customers.

 

Business
Customers

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

12,937

 

3,075

 

3,272

 

3,169

 

3,441

 

12,957

 

Net revenue

 

9,267

 

2,209

 

2,327

 

2,200

 

2,505

 

9,241

 

EBITDA

 

1,532

 

391

 

383

 

448

 

295

 

1,517

 

EBITDA margin

 

11.8

%

12.7

%

11.7

%

14.1

%

8.6

%

11.7

%

Special factors affecting EBITDA

 

50

 

(3

)

(43

)

(5

)

(70

)

(121

)

Adj. EBITDA

 

1,482

 

393

 

426

 

453

 

365

 

1,638

 

Adj. EBITDA margin

 

11.5

%

12.8

%

13.0

%

14.3

%

10.6

%

12.6

%

Depreciation and amortization

 

(1,066

)

(232

)

(243

)

(234

)

(238

)

(947

)

EBIT

 

466

 

159

 

140

 

214

 

57

 

570

 

Financial income (expense), net

 

(515

)

(166

)

(24

)

(173

)

(26

)

(389

)

Income (loss) before income taxes

 

(49

)

(7

)

116

 

41

 

31

 

181

 

Capex

 

934

 

139

 

222

 

201

 

307

 

868

 

Number of employees (average)

 

54,390

 

52,357

 

52,729

 

51,593

 

51,232

 

51,978

 

 

Business
Services

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

4,702

 

1,168

 

1,170

 

1,129

 

1,242

 

4,709

 

Net revenue

 

4,571

 

1,062

 

1,088

 

1,050

 

1,097

 

4,297

 

EBITDA

 

149

 

71

 

56

 

79

 

46

 

252

 

EBITDA margin

 

3.2

%

6.1

%

4.8

%

7.0

%

3.7

%

5.4

%

Special factors affecting EBITDA

 

89

 

(3

)

(43

)

(5

)

(70

)

(121

)

Adj. EBITDA

 

60

 

74

 

99

 

84

 

116

 

373

 

Adj. EBITDA margin

 

1.3

%

6.3

%

8.5

%

7.4

%

9.3

%

7.9

%

Depreciation and amortization

 

(272

)

(58

)

(60

)

(54

)

(58

)

(229

)

EBIT

 

(123

)

13

 

(4

)

25

 

(11

)

23

 

Financial income (expense), net

 

5

 

(3

)

(4

)

(1

)

(7

)

(15

)

Income (loss) before income taxes

 

(118

)

9

 

(8

)

24

 

(18

)

7

 

Capex

 

166

 

25

 

51

 

42

 

50

 

167

 

Number of employees (average)

 

17,836

 

17,247

 

17,210

 

15,734

 

15,606

 

16,449

 

 

Enterprise
Services

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

8,235

 

1,907

 

2,102

 

2,039

 

2,200

 

8,248

 

Net revenue

 

4,696

 

1,147

 

1,239

 

1,150

 

1,408

 

4,944

 

EBITDA

 

1,383

 

319

 

328

 

369

 

249

 

1,265

 

EBITDA margin

 

16.8

%

16.7

%

15.6

%

18.1

%

11.3

%

15.3

%

Special factors affecting EBITDA

 

(39

)

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

1,422

 

319

 

328

 

369

 

249

 

1,265

 

Adj. EBITDA margin

 

17.3

%

16.7

%

15.6

%

18.1

%

11.3

%

15.3

%

Depreciation and amortization

 

(796

)

(174

)

(184

)

(180

)

(181

)

(718

)

EBIT

 

589

 

146

 

144

 

189

 

68

 

547

 

Financial income (expense), net

 

(374

)

(131

)

8

 

(136

)

(9

)

(268

)

Income (loss) before income taxes

 

215

 

14

 

155

 

53

 

51

 

274

 

Capex

 

768

 

114

 

171

 

159

 

257

 

701

 

Number of employees (average)

 

36,554

 

35,110

 

35,520

 

35,860

 

35,626

 

35,529

 

 

Unaudited and preliminary Figures

47



 

 

Transfer out

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,604

 

384

 

387

 

309

 

305

 

1,385

 

Net revenue

 

793

 

196

 

192

 

132

 

151

 

671

 

EBITDA

 

232

 

16

 

27

 

14

 

20

 

78

 

EBITDA margin

 

14.5

%

4.2

%

7.0

%

4.5

%

6.6

%

5.6

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

232

 

16

 

27

 

14

 

20

 

78

 

Adj. EBITDA margin

 

14.5

%

4.2

%

7.0

%

4.5

%

6.6

%

5.6

%

Depreciation and amortization

 

(65

)

(17

)

(18

)

(15

)

(15

)

(65

)

EBIT

 

167

 

(1

)

10

 

(1

)

5

 

13

 

Financial income (expense), net

 

(7

)

0

 

(4

)

0

 

1

 

(3

)

Income (loss) before income taxes

 

161

 

(1

)

5

 

0

 

6

 

10

 

Capex

 

17

 

4

 

3

 

0

 

2

 

8

 

Number of employees (average)

 

880

 

628

 

631

 

633

 

634

 

631

 

 

Transfer in
Enterprise
Services

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

1,007

 

222

 

272

 

276

 

202

 

972

 

Net revenue

 

71

 

18

 

15

 

21

 

22

 

76

 

EBITDA

 

283

 

56

 

70

 

78

 

(21

)

183

 

EBITDA margin

 

28.1

%

25.3

%

25.7

%

28.2

%

(10.5

)%

18.8

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

283

 

56

 

70

 

78

 

(21

)

183

 

Adj. EBITDA margin

 

28.1

%

25.3

%

25.7

%

28.2

%

(10.5

)%

18.8

%

Depreciation and amortization

 

(49

)

(8

)

(10

)

(10

)

(9

)

(37

)

EBIT

 

234

 

48

 

60

 

67

 

(30

)

145

 

Financial income (expense), net

 

0

 

0

 

(1

)

0

 

3

 

2

 

Income (loss) before income taxes

 

233

 

48

 

60

 

67

 

(27

)

148

 

Capex

 

33

 

2

 

6

 

7

 

17

 

31

 

Number of employees (average)

 

1,294

 

1,320

 

2,189

 

2,687

 

2,698

 

2,223

 

 

Transfer in
Business
Services

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

4,463

 

1,044

 

1,097

 

976

 

1,176

 

4,293

 

Net revenue

 

2,955

 

676

 

708

 

664

 

745

 

2,793

 

EBITDA

 

(27

)

19

 

17

 

48

 

26

 

110

 

EBITDA margin

 

(0.6

)%

1.8

%

1.6

%

4.9

%

2.2

%

2.6

%

Special factors affecting EBITDA

 

(17

)

(3

)

0

 

0

 

(2

)

(5

)

Adj. EBITDA

 

(10

)

22

 

17

 

48

 

28

 

115

 

Adj. EBITDA margin

 

(0.2

)%

2.1

%

1.5

%

4.9

%

2.4

%

2.7

%

Depreciation and amortization

 

(64

)

(16

)

(16

)

(14

)

(11

)

(57

)

EBIT

 

(91

)

3

 

1

 

34

 

15

 

54

 

Financial income (expense), net

 

1

 

(4

)

(5

)

(4

)

(2

)

(15

)

Income (loss) before income taxes

 

(91

)

(1

)

(4

)

30

 

13

 

38

 

Capex

 

50

 

6

 

19

 

10

 

13

 

48

 

Number of employees (average)

 

11,868

 

11,313

 

11,306

 

9,789

 

9,617

 

10,506

 

 

Unaudited and preliminary Figures

48



 

Step 2: New structure. GHS.

 

GHS

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

3,271

 

866

 

882

 

887

 

891

 

3,526

 

Net revenue

 

235

 

62

 

69

 

57

 

72

 

260

 

EBITDA

 

(396

)

(120

)

(122

)

(1

)

(313

)

(556

)

of which Vivento(1)

 

n.a.

 

(208

)

(229

)

(117

)

(185

)

(739

)

EBITDA margin

 

(12.1

)%

(13.9

)%

(13.8

)%

(0.1

)%

(35.1

)%

(15.8

)%

Special factors affecting EBITDA

 

107

 

(33

)

43

 

21

 

(39

)

(8

)

Adj. EBITDA

 

(503

)

(87

)

(165

)

(22

)

(274

)

(548

)

of which Vivento(1)

 

n.a.

 

(175

)

(272

)

(148

)

(199

)

(794

)

Adj. EBITDA margin

 

(15.4

)%

(10.0

)%

(18.7

)%

(2.5

)%

(30.8

)%

(15.5

)%

Depreciation and amortization

 

(771

)

(204

)

(196

)

(237

)

(239

)

(876

)

Financial income (expense), net

 

(3,328

)

(812

)

(651

)

(666

)

(559

)

(2,688

)

Income (loss) before income taxes

 

(4,495

)

(1,136

)

(969

)

(904

)

(1,111

)

(4,120

)

Capex

 

862

 

58

 

145

 

182

 

288

 

673

 

Number of employees (average)

 

23,909

 

34,919

 

32,787

 

32,108

 

31,673

 

32,872

 

 

Disposals

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

995

 

219

 

268

 

272

 

198

 

957

 

Net revenue

 

71

 

18

 

15

 

21

 

22

 

76

 

EBITDA

 

283

 

55

 

71

 

77

 

(21

)

182

 

EBITDA margin

 

28.5

%

25.1

%

26.5

%

28.3

%

(10.6

)%

19.0

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

0

 

0

 

0

 

Adj. EBITDA

 

283

 

55

 

71

 

77

 

(21

)

182

 

Adj. EBITDA margin

 

28.5

%

25.1

%

26.5

%

28.3

%

(10.6

)%

19.0

%

Depreciation and amortization

 

(49

)

(8

)

(10

)

(10

)

(10

)

(38

)

Financial income (expense), net

 

(1

)

0

 

(1

)

1

 

0

 

0

 

Income (loss) before income taxes

 

233

 

47

 

60

 

68

 

(31

)

144

 

Capex

 

33

 

3

 

5

 

7

 

16

 

31

 

Number of employees (average)

 

1,294

 

1,320

 

2,189

 

2,687

 

2,698

 

2,223

 

 


(1) Value for 2003 in accordance with IFRS not available.

 

Unaudited and preliminary Figures

49



 

Step 2: New structure. Consolidation.

 

 

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

(13,198

)

(3,264

)

(3,235

)

(3,226

)

(2,935

)

(12,660

)

Net revenue

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

(17

)

(50

)

(42

)

(100

)

204

 

12

 

Special factors affecting EBITDA

 

0

 

0

 

0

 

(93

)

146

 

53

 

Adj. EBITDA

 

(17

)

(50

)

(42

)

(7

)

58

 

(41

)

Depreciation and amortization

 

48

 

13

 

13

 

17

 

13

 

56

 

Financial income (expense), net

 

76

 

(233

)

53

 

(10

)

(26

)

(216

)

Income (loss) before income taxes

 

107

 

(270

)

24

 

(93

)

191

 

(148

)

Capex

 

(109

)

(48

)

54

 

(9

)

(40

)

(43

)

 

Unaudited and preliminary Figures

50



 

Balance sheet structure.

 

 

 

Unaudited and preliminary Figures

51



 

IFRS. Consolidated balance sheet.

 

 

 

 

 

Dec. 31, 2003

 

Dec. 31, 2004

 

Assets

 

FN

 

Ger. GAAP

 

Delta

 

IFRS

 

Ger. GAAP

 

Delta

 

IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

19.9

 

1.6

 

21.5

 

16.9

 

2.1

 

19.0

 

Cash and cash equivalents

 

 

 

9.1

 

0.0

 

9.1

 

8.0

 

0.0

 

8.0

 

Trade receivables and other receivables

 

88

 

5.7

 

1.9

 

7.6

 

5.1

 

1.6

 

6.7

 

Income tax receivables

 

 

 

1.0

 

0.0

 

1.0

 

0.3

 

0.0

 

0.3

 

Other current financial assets

 

89

 

2.1

 

0.0

 

2.1

 

1.6

 

0.2

 

1.8

 

Inventories

 

90

 

1.2

 

(0.2

)

1.0

 

1.2

 

0.0

 

1.2

 

Other current assets

 

91

 

0.8

 

(0.1

)

0.7

 

0.7

 

0.3

 

1.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncurrent assets

 

 

 

98.1

 

20.0

 

118.1

 

92.7

 

17.4

 

110.1

 

Intangible assets

 

92

 

45.2

 

10.2

 

55.4

 

43.2

 

7.5

 

50.7

 

Property, plant and equipment

 

93

 

47.5

 

1.8

 

49.3

 

44.4

 

1.9

 

46.3

 

Financial assets accounted for using the equity method

 

 

 

2.4

 

0.0

 

2.4

 

2.6

 

0.1

 

2.7

 

Other noncurrent financial assets

 

94

 

0.8

 

0.6

 

1.4

 

0.5

 

1.2

 

1.7

 

Deferred tax assets

 

95

 

1.9

 

7.4

 

9.3

 

1.9

 

6.4

 

8.3

 

Other noncurrent assets

 

96

 

0.3

 

0.0

 

0.3

 

0.1

 

0.3

 

0.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

118.0

 

21.6

 

139.6

 

109.6

 

19.5

 

129.1

 

 

Unaudited and preliminary Figures

52



 

IFRS. Consolidated balance sheet.

 

Shareholder’s equity
and liabilities

 

FN

 

Dec. 31, 2003

 

Dec. 31, 2004

 

Ger. GAAP

 

Delta

 

IFRS

Ger. GAAP

 

Delta

 

IFRS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

30.3

 

0.1

 

30.4

 

25.6

 

0.6

 

26.2

 

Current financial liabilities

 

97

 

18.1

 

0.8

 

18.9

 

13.0

 

1.1

 

14.1

 

Trade payables and other payables

 

 

 

6.4

 

0.0

 

6.4

 

6.2

 

0.0

 

6.2

 

Income tax liabilities

 

 

 

0.2

 

0.0

 

0.2

 

0.7

 

0.0

 

0.7

 

Current accruals

 

98

 

4.1

 

(0.7

)

3.4

 

4.3

 

(0.6

)

3.7

 

Other current liabilities

 

 

 

1.5

 

0.0

 

1.5

 

1.4

 

0.1

 

1.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncurrent liabilities

 

 

 

53.9

 

11.5

 

65.4

 

46.1

 

10.9

 

57.0

 

Noncurrent financial liabilities

 

99

 

43.5

 

2.8

 

46.3

 

34.9

 

3.2

 

38.1

 

Pension provisions and other employee benefits

 

100

 

4.5

 

(0.3

)

4.2

 

4.6

 

(0.4

)

4.2

 

Other noncurrent accruals

 

101

 

3.1

 

(0.5

)

2.6

 

3.4

 

(0.3

)

3.1

 

Deferred tax liabilities

 

102

 

2.8

 

7.8

 

10.6

 

3.1

 

6.6

 

9.7

 

Other noncurrent liabilities

 

103

 

0.0

 

1.7

 

1.7

 

0.1

 

1.8

 

1.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt

 

 

 

84.2

 

11.6

 

95.8

 

71.7

 

11.5

 

83.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity

 

 

 

33.8

 

10.0

 

43.8

 

37.9

 

8.0

 

45.9

 

Capital stock

 

 

 

10.7

 

0.0

 

10.7

 

10.7

 

0.0

 

10.7

 

Additional paid-in capital

 

104

 

50.1

 

(0.6

)

49.5

 

50.1

 

(0.6

)

49.5

 

Ratained earnings incl. carryforwards

 

105

 

(24.3

)

4.7

 

(19.6

)

(23.0

)

5.3

 

(17.7

)

Cumulative other comprehensive income

 

106

 

(8.0

)

5.1

 

(2.9

)

(8.5

)

5.9

 

(2.6

)

Consolidated net profit/(loss)

 

107

 

1.3

 

0.6

 

1.9

 

4.6

 

(3.0

)

1.6

 

Own shareholdings

 

 

 

0.0

 

0.0

 

0.0

 

0.0

 

0.0

 

0.0

 

Shareholdings in other companies (minority interests)

 

108

 

4.0

 

0.2

 

4.2

 

4.0

 

0.4

 

4.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

 

118.0

 

21.6

 

139.6

 

109.6

 

19.5

 

129.1

 

 

Unaudited and preliminary Figures

 

 

53



 

Preliminary reconciliations of shareholder’s equity.

 

 

 

FN

 

Dec. 31,
2004

 

Dec. 31,
2003

 

 

 

 

 

 

 

 

 

Shareholder’s equity under German GAAP

 

 

 

37.9

 

33.8

 

 

 

 

 

 

 

 

 

Goodwill

 

109

 

(3.1

)

(3.5

)

Mobile communications licenses

 

109

 

9.8

 

13.1

 

Software

 

110

 

0.6

 

0.6

 

Borrowing costs

 

111

 

(0.5

)

(0.6

)

Measurement of investments in companies not fully consolidated and not accounted for in the consolidated financial statements under the equity method

 

112

 

0.9

 

0.3

 

Leases

 

113

 

(0.6

)

(0.5

)

Provisions

 

114

 

1.6

 

1.5

 

Pension provisions

 

 

 

0.4

 

0.3

 

Other provisions

 

 

 

1.2

 

1.2

 

Deffered revenue

 

115

 

(1.2

)

(1.1

)

Other IFRS adjustments

 

116

 

0.7

 

0.6

 

Defferred taxes

 

117

 

(0.2

)

(0.4

)

Defferred tax assets

 

 

 

6.4

 

7.4

 

Defferred tax liabilities

 

 

 

(6.6

)

(7.8

)

 

 

 

 

 

 

 

 

Shareholder’s equity under IFRS

 

 

 

45.9

 

43.8

 

 

Unaudited and preliminary Figures

 

 

54



 

Reconciliation Net debt.

 

 

 

FN

 

Dec. 31,
2004

 

Sep. 30,
2004

 

Jun. 30,
2004

 

Mar. 31,
2004

 

Dec. 31,
2003

 

Jan. 1,
2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt derived from German GAAP information

 

 

 

35,198

 

40,779

 

43,330

 

44,585

 

46,576

 

61,106

 

Lease liabilities

 

122

 

2,487

 

2,294

 

2,340

 

2,410

 

2,443

 

1,843

 

Liabilities arising from ABS transaction

 

123

 

1,563

 

1,190

 

1,195

 

1,367

 

1,233

 

1,202

 

Other IFRS differences

 

124

 

344

 

404

 

452

 

521

 

473

 

164

 

Net debt derived from IFRS information

 

 

 

39,592

 

44,667

 

47,317

 

48,883

 

50,725

 

64,315

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bonds

 

 

 

39,458

 

43,347

 

46,559

 

49,997

 

51,164

 

56,417

 

Liabilities to banks

 

 

 

3,074

 

3,153

 

3,182

 

3,262

 

3,789

 

6,235

 

Liabilities to non-banks from promissory notes

 

 

 

651

 

718

 

755

 

769

 

756

 

811

 

Liabilities from derivatives

 

 

 

1,096

 

986

 

963

 

1,003

 

1,255

 

1,189

 

Lease liabilities

 

 

 

2,487

 

2,294

 

2,340

 

2,410

 

2,443

 

1,843

 

Liabilities arising from ABS transactions

 

 

 

1,563

 

1,190

 

1,195

 

1,367

 

1,233

 

1,202

 

Other financial liabilities

 

 

 

79

 

76

 

120

 

197

 

52

 

103

 

Gross debt derived from IFRS information

 

 

 

48,408

 

51,764

 

55,114

 

59,005

 

60,692

 

67,800

 

Cash and cash equivalents

 

 

 

8,038

 

5,928

 

6,614

 

9,198

 

9,131

 

1,904

 

Available-for-sale financial assets

 

 

 

120

 

636

 

676

 

151

 

137

 

492

 

Derivatives

 

 

 

284

 

269

 

235

 

385

 

318

 

805

 

Other financial assets

 

 

 

374

 

264

 

272

 

388

 

381

 

284

 

Net debt derived from IFRS information

 

 

 

39,592

 

44,667

 

47,317

 

48,883

 

50,725

 

64,315

 

 

Unaudited and preliminary Figures

 

 

55



 

Reconciliation Cash flow statement.

 

Net cash (used for)/
provided by
operating activities

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1-Q3 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

German GAAP

 

 

 

14,316

 

4,250

 

7,128

 

10,808

 

16,307

 

Internally generated software

 

118

 

242

 

15

 

54

 

153

 

254

 

ABS

 

119

 

378

 

(211

)

(51

)

(58

)

(339

)

Leasing

 

120

 

150

 

20

 

111

 

160

 

207

 

Interest on borrowings

 

121

 

(41

)

(8

)

(22

)

(29

)

(58

)

Others

 

 

 

8

 

238

 

(16

)

90

 

350

 

IFRS

 

 

 

15,053

 

4,304

 

7,204

 

11,124

 

16,721

 

 

Net cash (used for)/
provided by investing
activities

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1-Q3 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

German GAAP

 

 

 

(2,073

)

(1,337

)

(3,351

)

(4,352

)

(4,318

)

Internally generated software

 

118

 

(242

)

(15

)

(54

)

(153

)

(254

)

ABS

 

119

 

46

 

19

 

39

 

46

 

41

 

Leasing

 

120

 

 

 

22

 

40

 

35

 

37

 

Interest on borrowings

 

121

 

41

 

8

 

22

 

29

 

58

 

Others

 

 

 

(21

)

(32

)

(32

)

(162

)

(66

)

IFRS

 

 

 

(2,249

)

(1,335

)

(3,336

)

(4,557

)

(4,502

)

 

Net cash (used for)/
provided by financing
activities

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1-Q3 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

German GAAP

 

 

 

(5,226

)

(2,606

)

(6,204

)

(9,342

)

(12,652

)

Internally generated software

 

118

 

 

 

 

 

 

 

 

 

 

 

ABS

 

119

 

(424

)

192

 

12

 

12

 

298

 

Leasing

 

120

 

(150

)

(42

)

(151

)

(195

)

(244

)

Interest on borrowings

 

121

 

 

 

 

 

 

 

 

 

 

 

Others

 

 

 

(3

)

(203

)

65

 

81

 

(284

)

IFRS

 

 

 

(5,797

)

(2,659

)

(6,278

)

(9,444

)

(12,882

)

 

Effect of foreign exchange
rate changes
on cash and
cash equivalents

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1-Q3 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

German GAAP

 

 

 

(43

)

17

 

30

 

5

 

0

 

Others

 

 

 

10

 

(3

)

(17

)

(9

)

0

 

IFRS

 

 

 

(33

)

14

 

13

 

(4

)

0

 

Others

 

 

 

10

 

(3

)

(17

)

(9

)

0

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1-Q3 2004

 

FY 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash (used for) / provided by operating activities

 

 

 

737

 

54

 

76

 

316

 

414

 

Net cash (used for) / provided by investing activities

 

 

 

(176

)

2

 

15

 

(205

)

(184

)

Net cash (used for) / provided by financing activities

 

 

 

(571

)

(53

)

(74

)

(102

)

(230

)

Effect of foreign exchange rate changes on cash and cash equivalents

 

 

 

10

 

(3

)

(17

)

(9

)

0

 

Summe

 

 

 

0

 

0

 

0

 

0

 

0

 

 

Unaudited and preliminary Figures

56



 

Disclaimer.

 

The Committee of European Securities Regulators recommends that selected IFRS financial information be disclosed in the reporting on the 2004 financial year. In line with this recommendation, we are presenting here the preliminary consolidated balance sheets and consolidated income statements under IFRS as well as the preliminary reconciliation of shareholders’ equity and net income from German GAAP (HGB) to IFRS for the 2003 and 2004 financial years. The disclosure of net debt is not based on any IFRS guidance. This measure is disclosed voluntarily.

 

In accordance with IFRS 1, the assets and liabilities carried in the preliminary consolidated balance sheets and consolidated income statements under IFRS that are presented here are measured in line with the relevant IFRS standards, compliance with which is mandatory as of December 31, 2005, the date on which the consolidated financial statements under IFRS are prepared for the first time, to the extent that these statements were published up until December 31, 2004. Deutsche Telekom has applied IFRIC 4 since January 1, 2003. The resulting differences between the IFRS carrying amounts and the carrying amounts of the assets and liabilities in the consolidated balance sheet under German GAAP for the period ended December 31, 2002 are recognized directly in equity at the time of the transition to IFRS.

 

There can be no guarantee that the final consolidated balance sheets and consolidated income statements under IFRS will not deviate from the preliminary consolidated balance sheets and consolidated income statements presented here, because the IASB may make further pronouncements before the final consolidated financial statements as of December 31, 2005 are prepared. Moreover, the EU Commission has yet to endorse individual pronouncements by the IASB that have already been taken into account in the financial information presented below. We would also like to point out that the statements presented here are not a full set of consolidated financial statements under IFRS as defined by IAS 1. In this respect, there are no first-time consolidated financial statements under IFRS within the meaning of IFRS 1. Deutsche Telekom will prepare its first set of consolidated IFRS financial statements as defined by IFRS 1 for the period ended December 31, 2005. IFRS will replace German GAAP in Deutsche Telekom’s external reporting from the first quarter of 2005.

 

This report contains a number of non-GAAP figures, such as EBITDA and EBITDA adj. for special influences, EBITDA margin, EBIT and EBIT adjusted for special influences; EBIT margin, capex, adj. Net income, free cash flow, and net debt. These non-GAAP figures should not be viewed as a substitute to our GAAP figures. Our non-GAAP measures may not be comparable to non-GAAP measures used by other companies. To interpret the non-GAAP measures, please refer to the Backup materials accompanying this presentation and the “Reconciliation to pro forma figures” posted on Deutsche Telkom’s investor relations website under www.deutschetelekom.com.

 

Unaudited and preliminary Figures

57


Contacts.

 

Deutsche Telekom AG

Zentralbereich Investor Relations, Bonn office
Postfach 20 00, D-53105 Bonn
Phone +49 (0) 228 181 8 88 80
Fax +49 (0) 228 181 8 88 99
E-mail: investor.relations@telekom.de

 

This report can be downloaded from the Investor Relations site on the Internet at:
www.deutschetelekom.com

 

For further information on the business units please refer to:
www.t-com.de
www.t-mobile-international.com
www.t-systems.com
www.t-online.com

 

Investor Relations, New York office
Phone +1 212 424 2926
Phone  1 877 DT SHARE (toll-free)
Fax +1 212 424 2986
E-mail: investor.relations@usa.telekom.de

 

This Report is also available in German.

 

KNr. 642 100 028

 

58



 

Historic Numbers under IFRS.

New Group Structure.

 

Footnotes.

 



 

Group

 

1

 

Net revenue

 

In general

 

Mainly differing recognition of revenue from provisioning/activation charges (T-Com, T-Online, T-Mobile).
Other differences result from leases (T-Com) and the valuation of long-term construction contracts and multiple-element arrangements (T-Systems).
See also comments on total revenue of business areas and the introduction to this report.

 

 

 

 

 

 

 

2

 

Profit/loss from operations

 

In general

 

Profit/loss from operations and EBIT are identical under IFRS. The difference under German GAAP in other taxes. See notes on EBIT (9).

 

 

 

 

 

 

 

3

 

Financial result

 

In general

 

Results from sales of shares

 

 

 

 

 

 

Under IFRS; results from sales of shares are no longer shown under operating profit, but under financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

Leasing

 

 

 

 

 

 

Accounting and reporting regulations concerning finance leases as well as sale and leaseback transactions differ. Under IFRS, the interest cost for lease liabilities is shown under net financial interest/expense.

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest effect of provisions for pensions and personnel costs

 

 

 

 

 

 

The German GAAP/IFRS reconciliation effects mainly result from the difference in accounting and reporting regulations concerning pension accruals. Under IFRS, the interest cost for pension accruals is shown under net financial income/expense.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Results from sales of shares

 

 +0.6 billion

 

 

 

 

 

 

 

 

Reclassification of interest effect of provisions for pensions and personnel costs

 

 -0.5 billion

 

 

 

 

 

 

 

 

Other adjustments to financial result

 

 -0.4 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Results from sales of shares

 

 +1.2 billion

 

 

 

 

 

 

 

 

Leasing

 

 -0.1 billion

 

 

 

 

 

 

 

 

Reclassification of interest effect of provisions for pensions and personnel costs

 

 -0.2 billion

 

 

 

 

 

 

 

 

Other effects

 

 -0.3 billion

 

 

 

 

 

 

 

 

 

4

 

Income before income taxes

 

In general

 

See notes EBITDA (10), Depreciation, amortization, write-downs, and impairment losses (11), and financial result (3).

 

 

 

 

 

 

 

5

 

Income taxes

 

In general

 

Deferred taxes

 

 

 

 

 

 

The differences in the definition of deferred taxes under IFRS and German GAAP relate in particular to Deutsche Telekom AG’s “contribution goodwill”, tax loss carryforwards, and general recognition and measurement differences between IFRS and German GAAP.

 

 

 

 

 

 

 

 

 

 

 

 

 

This leads to an additional recognition of deferred tax assets of € 9.1 billion in the opening balance sheet and deferred tax liabilities of € 7.9 billion, mainly due to the realization of hidden reserves relating to U.S. mobile communications licenses.

 

 

 

 

 

 

 

 

 

 

 

 

 

The deferred tax assets on the “contribution goodwill” are reversed on a pro rata basis in line with the scheduled amortization of the goodwill, and the deferred tax assets on the loss carryforwards are reversed in line with the offsetting of loss carryfowards with taxable income.

 

 

 

 

 

 

 

 

 

 

 

 

 

The deferred taxes recognized on measurement differences primarily relate to deferred tax liabilities on measurement differences between IFRS and German GAAP in connection with the realized hidden reserves for U.S. mobile communications licenses. Since U.S. mobile communications licenses are no longer amortized under IFRS, the deferred tax liabilities in 2003 are not released. The impairment recognized under IFRS in 2004 and the reversal of the write-up of these licenses under German GAAP resulted in the corresponding release of the deferred tax liabilities.

 

 

 

 

 

 

 

6

 

Net profit/loss

 

In general

 

See notes EBITDA (10), Depreciation, amortization, write-downs, and impairment losses (11), Financial result (3), and income taxes (5).

 

 

 

 

 

 

 

7

 

Income applicable to minority shareholders

 

In general

 

The differences shown here relate to the proportion of the German GAAP / IFRS differences in net profit/loss (6) that is accounted for by minority interest (predominantly: T-Online and MATÁV)

 

 

 

 

 

 

 

8

 

Consolidated net profit/loss

 

In general

 

See notes on individual components of the net income/loss.

 

 

 

 

 

 

 

9

 

EBIT

 

In general

 

See notes EBITDA (10) and Depreciation, amortization, write-downs, and impairment losses (11).

 

 

 

 

 

 

 

10

 

EBITDA

 

In general

 

Recognition of internally generated software

 

 

 

 

 

 

Recognizing internally generated software, which is not permissible under German GAAP, increases shareholders’ equity under IFRS in all of the periods presented. In the periods following the recognition, the net profit under IFRS remains largely unaffected.

 

2



 

 

 

 

 

In general

 

Results from sales of shares

 

 

 

 

 

 

Under IFRS; results from sales of shares are no longer shown under EBITDA, but under financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

Other taxes

 

 

 

 

 

 

Under IFRS, other taxes are included in EBITDA.

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest effect of provisions for pensions and personnel costs

 

 

 

 

 

 

Under IFRS, the interest components of the measurement of provisions is shown under the financial result, which leads to an increase in EBITDA.

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional minimum liability (AML)

 

 

 

 

 

 

Reversal of the interest effect of the additional minimum liability (AML), recognized under German GAAP, as AML is not recognized under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of recognition of interest on borrowings

 

 

 

 

 

 

The fact that Deutsche Telekom does not make use of the option under IFRS to recognize borrowing costs results in adjustments having to be made. Under German GAAP, borrowing costs accounted for during the construction period were recognized. Not recognizing borrowing costs reduces shareholders’ equity under IFRS in all periods.

 

 

 

 

 

 

 

 

 

 

 

 

 

Leasing

 

 

 

 

 

 

Whereas under German GAAP, the ongoing lease expenses are recognized in the income statement, under IFRS the scheduled depreciation on the assets is expensed and the interest component of the lease liability is shown as interest expense.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 

 

 

 

 

The accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless is not recognized under IFRS. Note however the nonscheduled write-down on the license in New York under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 

 

 

 

 

The write-up of U.S. mobile communications licenses made under German GAAP corrected previous amortization of these licenses. As FCC licenses are not amortized under IFRS due to the indefinite useful life, there is no need for the write-up either.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Recognition of internally generated software

 

 +0.2 billion

 

 

 

 

 

 

 

 

Results from sales of shares

 

 -0.6 billion

 

 

 

 

 

 

 

 

Other taxes

 

 -0.2 billion

 

 

 

 

 

 

 

 

Reclassification of interest effect of provisions for pensions and personnel costs

 

 +0.5 billion

 

 

 

 

 

 

 

 

Provisions for pensions, mainly additional minimum liability

 

 +0.4 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Recognition of internally generated software

 

 +0.3 billion

 

 

 

 

 

 

 

 

Results from sales of shares

 

 -1.2 billion

 

 

 

 

 

 

 

 

Other taxes

 

 -0.2 billion

 

 

 

 

 

 

 

 

Reclassification of interest effect of provisions for pensions and personnel costs

 

 +0.2 billion

 

 

 

 

 

 

 

 

Pension accruals

 

 +0.1 billion

 

 

 

 

 

 

 

 

Revenue recognition

 

 -0.1 billion

 

 

 

 

 

 

 

 

Reversal of recognition of interest on borrowings

 

 -0.1 billion

 

 

 

 

 

 

 

 

Leasing

 

 +0.1 billion

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +0.5 billion

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 -2.4 billion

 

 

 

 

 

 

 

 

 

11

 

Depreciation,

 

In general

 

No amortization of goodwill

 

 

amortization, write-downs, and impairment losses

 

 

 

Goodwill is not amortized under IFRS, in contrast to German GAAP. Instead, any need for adjustments to goodwill is determined exclusively by means of impairment tests. The amortization of goodwill charged under German GAAP is therefore no longer charged under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile communications licenses

 

 

 

 

 

 

The U.S. mobile communications licenses are no longer amortized under IFRS due to their unlimited useful life. In contrast to German GAAP, UMTS licenses are not amortized from the time of acquisition under IFRS, but from the time the UMTS network is put into commercial operation. The amortization of UMTS licenses charged under German GAAP before the UMTS network was put into operation is therefore no longer charged under IFRS. In Austria the UMTS network was put into operation in December 2003, in Germany in Q2 04 and in the UK in Q3 04. The UMTS newtorks have not yet been put into operation in the Netherlands and the Czech Republic.

 

3



 

 

 

 

 

In general

 

Impairment

 

 

 

 

 

 

The impairment tests required under IFRS found that the goodwill of T-Mobile-UK in 2004 and T-Mobile USA in 2003 needed to be corrected. It was also found that the goodwill of MATÁV needed to be corrected in 2003 and Slovak Telekom in 2004.

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment resulting from the wind-up of the network joint venture

 

 

 

 

 

 

The wind-up of the network joint venture between T-Mobile USA and Cingular Wireless resulted in an impairment, mainly relating to the transfer of a 10MHz license in New York to Cingular Wireless in 2007.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of recognition of interest on borrowings

 

 

 

 

 

 

The fact that Deutsche Telekom does not make use of the option under IFRS to recognize borrowing costs results in adjustments having to be made. Under German GAAP, borrowing costs accounted for during the construction period were recognized. Not recognizing borrowing costs reduces shareholders’ equity under IFRS in all periods. The lower amortization than under German GAAP increases the net profit.

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 

 

 

 

 

The recognition of intenally generated assets leads to additional depreciation and amortization.

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of leases

 

 

 

 

 

 

Whereas under German GAAP, the ongoing lease expenses are recognized in the income statement, under IFRS the scheduled depreciation on the assets is expensed.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

No amortization of goodwill

 

 +2.5 billion

 

 

 

 

 

 

 

 

Impairment, MATÁV

 

 -0.2 billion

 

 

 

 

 

 

 

 

Impairment, T-Mobile USA

 

 -0.8 billion

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses

 

 +1.1 billion

 

 

 

 

 

 

 

 

Reversal of recognition of interest on borrowings

 

 +0.2 billion

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 -0.2 billion

 

 

 

 

 

 

 

 

Amortization of leases

 

 -0.2 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

No amortization of goodwill

 

 +2.5 billion

 

 

 

 

 

 

 

 

Impairment, T-Mobile UK

 

 -2.2 billion

 

 

 

 

 

 

 

 

Impairment, Slovak Telecom

 

 -0.2 billion

 

 

 

 

 

 

 

 

License impairment, New York

 

 -1.3 billion

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses

 

 +0.6 billion

 

 

 

 

 

 

 

 

Non-recognition of interest on borrowings under IFRS

 

 +0.2 billion

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 -0.3 billion

 

 

 

 

 

 

 

 

Amortization of leases

 

 -0.1 billion

 

 

 

 

 

 

 

 

 

12

 

Capex

 

In general

 

Increase in capex due to recognition of restoration obligations and finance lease and the recognition of internally generated software.

 

 

 

 

 

 

 

13

 

Free cash flow before dividend payment

 

In general

 

The difference in free cash flow is mainly the result of reclassifications between cash flows from operating, financing and investing activities. These reclassifications relate to changes in cash and cash equivalents resulting from the ABS program, interest on borrowings, leases and other issues.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

ABS (reclassification to cash flows from investing and financing activities)

 

 +372 million

 

 

 

 

 

 

 

 

Leases (reclassification to cash flows from financing activities)

 

 +150 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

ABS (reclassification from cash flows from investing and financing activities)

 

 -143 million

 

 

 

 

 

 

 

 

Finance leases (mainly reclassification to cash flows from financing activities)

 

 +207 million

 

 

 

 

 

 

 

 

 

14

 

Net financial liabilities

 

In general

 

Lease liabilities

 

 

 

 

 

 

In the case of a finance lease, the assets are measured at the lower of the fair value of the leased property and the present value of the minimum lease payments in the lessee’s balance sheet. At the same time, a lease liability is recognized. As a result, Deutsche Telekom’s net financial liabilities increase.

 

4



 

 

 

 

 

In general

 

Liabilities arising from ABS transactions

 

 

 

 

 

 

As part of asset-backed securities (ABS) transactions, financial assets, in this case trade receivables, are sold to a special-purpose entity (SPE). The special purpose entity then raises money on the capital market secured with the purchased receivables. Under IFRS, SPEs must generally be consolidated by the economic beneficiary. In comparison with German GAAP, this leads to an increase in net financial liabilities under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Other IFRS differences

 

 

 

 

 

 

The other differences primarily consist of the more extensive incorporation of derivatives as well as the cash collaterals included in other financial assets with regard to ABS transactions.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Leasing

 

 +2.4 billion

 

 

 

 

 

 

 

 

ABS

 

 +1.2 billion

 

 

 

 

 

 

 

 

Other

 

 +0.5 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Leasing

 

 +2.5 billion

 

 

 

 

 

 

 

 

ABS

 

 +1.6 billion

 

 

 

 

 

 

 

 

Other

 

 +0.3 billion

 

 

 

Special factors

 

15

 

Cost of sales

 

In general

 

See notes on individual quarters.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Reversal of the interest effect of the additional minimum liability (AML), recognized under German GAAP, as AML is not recognized under IFRS

 

 +0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Impairment resulting from the wind-up of the network joint venture

 

 -1.4 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Reduction of the write-down charged in Q2 04 resulting from the wind-up of the network joint venture

 

 +0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Impairment resulting from the wind-up of the network joint venture

 

 -1.3 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

16

 

Selling costs

 

FY 2003

 

Reversal of the interest effect of the additional minimum liability (AML), recognized under German GAAP, as AML is not recognized under IFRS

 

 +0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17

 

General and administrative costs

 

FY 2003

 

Reversal of the interest effect of the additional minimum liability (AML), recognized under German GAAP, as AML is not recognized under IFRS and reclassification of adjustment of discount rate for civil servant health insurance fund

 

 +0.2 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18

 

Other operating income

 

In general

 

Reversal of write-up on FCC licenses
The write-up of U.S. mobile communications licenses made under German GAAP were not made under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Results from sales of shares

 

 

 

 

 

 

Under IFRS; results from sales of shares (here in particular shares in SES, MTS and Eutelsat) are no longer shown under EBITDA, but under financial result.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Results from sales of shares

 

 -0.6 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Reversal of write-up on FCC licenses

 

 -1.8 billion

 

 

 

 

 

 

 

 

Results from sales of shares

 

 -0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Reversal of write-up on FCC licenses

 

 -0.6 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Results from sales of shares

 

 -1.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Reversal of write-up on FCC licenses

 

 -2.4 billion

 

 

 

 

 

 

 

 

Results from sales of shares

 

 -1.2 billion

 

 

 

5



 

19

 

Other operating expenses

 

In general

 

See notes on individual quarters.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Mainly reversal of AML interest effect, as AML not recognized under IFRS, and impairment of goodwill at MATÁV and T-Mobile USA under IFRS

 

 -1.0 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Reversal of the accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless

 

 +0.6 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Write-down of FCC licenses at Slovak Telecom and
T-Mobile UK under IFRS

 

 -2.4 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Discontinuation of the reduction under German GAAP of the accrual for contingent losses recognized in Q2 04 relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless.

 

 -0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Mainly write-downs of FCC licenses at Slovak Telecom and T-Mobile UK under IFRS

 

 -2.4 billion

 

 

 

 

 

 

 

 

Reversal of the accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless

 

 +0.5 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

20

 

Financial result

 

In general

 

Results from sales of shares

 

 

 

 

 

 

Under IFRS; results from sales of shares are no longer shown under EBITDA, but under financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions

 

 

 

 

 

 

Under IFRS, the interest components of the measurement of accruals and liabilities are shown under financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Results from sales of shares

 

 +0.8 billion

 

 

 

 

 

 

 

 

Provisions (civil servant health insurance fund)

 

 -0.2 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Results from sales of shares (SES)

 

 +0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Results from sales of shares (SES, MTS and Eutelsat)

 

 +1.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Results from sales of shares (SES, MTS and Eutelsat)

 

 +1.2 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

21

 

Income before income taxes

 

In general

 

See notes on individual issues in the income statement items within income before income taxes.

 

 

 

 

 

 

 

22

 

Income taxes

 

In general

 

See notes on individual quarters.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Lower tax income under IFRS relating to the conversion of T-Mobile International AG into a limited partnership under German law (AG & Co. KG)

 

 -0.3 billion

 

 

 

 

 

 

 

 

Non-recurrence of the tax income from the reversal of the AML interest effect

 

 -0.1 billion

 

 

 

 

 

 

 

 

Tax income under IFRS from the additional to accruals for the civil servant health insurance fund

 

 +0.1 billion

 

 

 

 

 

 

 

 

Higher tax expense under IFRS resulting from the sale of the remaining cable companies

 

 -0.3 billion

 

 

 

6



 

 

 

 

 

Q1 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Non-recurrence of deferred taxes relating to the write-up under German GAAP of FCC licenses at T-Mobile USA

 

 +0.4 billion

 

 

 

 

 

 

 

 

Deferred taxes relating to the write-down under IFRS of FCC licenses at T-Mobile USA

 

 +0.5 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Non-recurrence of deferred taxes relating to the write-up under German GAAP resulting from the wind-up of the network joint venture

 

 +0.2 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Non-recurrence of deferred taxes relating to the write-up under German GAAP of FCC licenses at T-Mobile USA

 

 +0.6 billion

 

 

 

 

 

 

 

 

Deferred taxes relating to the write-down under IFRS resulting from the wind-up of the network joint venture

 

 +0.5 billion

 

 

 

 

 

 

 

 

 

23

 

Income applicable to minority shareholders

 

In general

 

No change

 

 

 

 

 

 

 

24

 

Consolidated net profit/loss

 

In general

 

See notes on individual issues in the income statement items within consolidated net profit/loss.

 

 

 

 

 

 

 

25

 

EBIT

 

In general

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 

 

 

 

 

The accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless is not recognized under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Results from sales of shares

 

 

 

 

 

 

Under IFRS; results from sales of shares are no longer shown under EBITDA, but under financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 

 

 

 

 

The write-up of U.S. mobile communications licenses made under German GAAP were not made under IFRS.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Reversal of AML interest effect, as AML is not recognized under IFRS.

 

 +0.3 billion

 

 

 

 

 

 

 

 

Reclassification of addition to accrual due to the adjustment of the discount rate applied for the civil servant health insurance fund

 

 +0.2 billion

 

 

 

 

 

 

 

 

Results from sales of shares

 

 -0.6 billion

 

 

 

 

 

 

 

 

Write-down of FCC licenses at Slovak Telecom and MATÁV and T-Mobile USA

 

 -1.0 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +0.6 billion

 

 

 

 

 

 

 

 

Impairment resulting from the wind-up of the network joint venture

 

 -1.4 billion

 

 

 

 

 

 

 

 

Results from sales of shares (SES)

 

 -0.1 billion

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 -1.8 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Write-down of FCC licenses at Slovak Telecom and
T-Mobile UK under IFRS

 

 -2.4 billion

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 -0.6 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Reduction of the write-down charged in Q2 04 resulting from the wind-up of the network joint venture

 

 +0.1 billion

 

 

 

 

 

 

 

 

Results from sales of shares (SES, MTS and Eutelsat)

 

 -1.1 billion

 

 

 

 

 

 

 

 

Discontinuation of the reduction under German GAAP of the accrual for contingent losses recognized in Q2 04 relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless.

 

 -0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Impairment resulting from the wind-up of the network joint venture

 

 -1.3 billion

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +0.5 billion

 

 

 

 

 

 

 

 

Results from sales of shares (SES, MTS and Eutelsat)

 

 -1.2 billion

 

 

 

 

 

 

 

 

Write-down of FCC licenses at Slovak Telecom and
T-Mobile UK under IFRS

 

 -2.4 billion

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 -2.4 billion

 

 

 

7



 

26

 

EBITDA

 

In general

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 

 

 

 

 

The accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless is not recognized under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Results from sales of shares

 

 

 

 

 

 

Under IFRS; results from sales of shares are no longer shown under EBIT, but under financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 

 

 

 

 

The write-up of U.S. mobile communications licenses made under German GAAP were not made under IFRS.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Reversal of AML interest effect, as AML is not recognized under IFRS.

 

 +0.3 billion

 

 

 

 

 

 

 

 

Reclassification of addition to accrual due to the adjustment of the discount rate applied for the civil servant health insurance fund

 

 +0.2 billion

 

 

 

 

 

 

 

 

Results from sales of shares

 

 -0.6 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +0.6 billion

 

 

 

 

 

 

 

 

Results from sales of shares (SES)

 

 -0.1 billion

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 -1.8 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Reversal of write-up on FCC licenses

 

 -0.6 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Results from sales of shares (SES, MTS and Eutelsat)

 

 -1,1 billion

 

 

 

 

 

 

 

 

Discontinuation of the reduction under German GAAP of the accrual for contingent losses recognized in Q2 04 relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless.

 

 -0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +0.5 billion

 

 

 

 

 

 

 

 

Results from sales of shares (SES, MTS and Eutelsat)

 

 -1.2 billion

 

 

 

 

 

 

 

 

Reversal of write-up on FCC licenses

 

 -2.4 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

27

 

Depreciation, amortization,

 

In general

 

See notes on individual quarters.

 

 

 

 

 

 

write-downs, and impairment losses

 

FY 2003

 

Write-down of FCC licenses at Slovak Telecom and MATÁV and T-Mobile USA

 

 -1.0 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Impairment resulting from the wind-up of the network joint venture

 

 -1.4 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Write-down of FCC licenses at Slovak Telecom and
T-Mobile UK under IFRS

 

 -2.4 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Reduction of the write-down charged in Q2 04 resulting from the wind-up of the network joint venture

 

 +0.1 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Impairment resulting from the wind-up of the network joint venture

 

 -1.3 billion

 

 

 

 

 

 

 

 

Write-down of goodwill at Slovak Telecom and T-Mobile UK

 

 -2.4 billion

 

 

 

8



 

T   Com

 

28

 

Total revenue

 

In general

 

The main differences between German GAAP and IFRS result from the following issues:

 

 

 

 

 

 

 

 

 

 

 

 

 

Up-front fees (decrease)

 

 

 

 

 

 

Up-front fees are accrued over the average useful life (duration of the customer relationship), which reduces the revenue at the beginning of the contractual relationship. Deferred revenues are released in the subsequent periods over the duration of the customer relationship.

 

 

 

 

 

 

 

 

 

 

 

 

 

Service numbers (decrease)

 

 

 

 

 

 

Some revenues in the area of value-added services (e.g. 0190 premium rate services) may only be recognized net. Accordingly, T-Com only recognizes an agency commission. This reduces revenue (no effect on EBITDA).

 

 

 

 

 

 

 

 

 

 

 

 

 

Leases (decrease)

 

 

 

 

 

 

Current forms of rentals are treated as leases under IFRS. Classification as finance leases generates the following effects on revenue:

The proportion of revenue classified as a finance component is recognized in net interest.

The revenue of the entire duration of the customer relationship is recognized in the year the contract is concluded as a discounted one-time amount, minus the finance component.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Up-front charges

 

 -103 million

 

 

 

 

 

 

 

 

of which net figures for serives numbers

 

 -77 million

 

 

 

 

 

 

 

 

Leases

 

 -44 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Up-front charges

 

 -186 million

 

 

 

 

 

 

 

 

of which net figures for serives numbers

 

 -90 million

 

 

 

 

 

 

 

 

Leases

 

 -49 million

 

 

 

 

 

 

 

 

 

29

 

Net revenue

 

In general

 

See notes on total revenue (28).

 

 

 

 

 

 

 

30

 

EBITDA

 

In general

 

Other taxes have already been deducted in the deviations between German GAAP and IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

The main differences between German GAAP and IFRS result from the following issues:

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension accruals (increase)

 

 

 

 

 

 

The timing of additions to pension accruals under IFRS is different from that under German GAAP as a result of measurement differences. This currently leads to an improvement in results. The interest cost relating to the annual additions to pension accruals is shown under personnel costs under German GAAP; under IFRS, it is shown under net interest (reclassification).

 

 

 

 

 

 

 

 

 

 

 

 

 

ABS transaction (decrease/increase)

 

 

 

 

 

 

As part of asset-backed securities (ABS) transactions, financial assets, in this case trade receivables, are sold to a special-purpose entity (SPE). The SPE then raises money on the capital market secured with the purchased receivables - this applies in particular to T-Com. Under IFRS, SPEs must generally be consolidated by the economic beneficiary. While the fees to by paid to the special purpose entity are shown as program fees under other operating expenses under German GAAP, consolidation of the special purpose entity leads to the elimination of this expense item. The interest expense to be paid by the special purpose entity for the capital market liability corresponds to a great extent to this expense item. This is recognized under interest expense under IFRS, not other operating expenses as under German GAAP. For this reason, these expenses are not included in the calculation of EBITDA.

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognition of internally generated assets, mainly software (increase)

 

 

 

 

 

 

The costs for internally generated assets are no longer charge to expense in full when incurred; they are capitalized as assets and depreciated over the useful life. This reduces the cost base which burdens EBITDA. For T-Com, this relates in particular to internally generated software.

 

 

 

 

 

 

 

 

 

 

 

 

 

Leases (decrease)

 

 

 

 

 

 

Noncurrent assets (in particular routers) are no longer capitalized under IFRS; their acquisition costs are expensed.

 

9



 

 

 

 

 

FY 2003

 

EBITDA effect due to up-front fees

 

 +20 million

 

 

 

 

 

 

 

 

Pension accruals

 

 +480 million

 

 

 

 

 

 

 

 

ABS transaction

 

 -58 million

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 +29 million

 

 

 

 

 

 

 

 

Leases

 

 -104 million

 

 

 

 

 

 

 

 

Other

 

 -114 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

EBITDA effect due to up-front fees

 

 -68 million

 

 

 

 

 

 

 

 

Pension provisions and other employee benefits

 

 +197 million

 

 

 

 

 

 

 

 

ABS transaction

 

 +26 million

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 +27 million

 

 

 

 

 

 

 

 

Leases

 

 -111 million

 

 

 

 

 

 

 

 

Other

 

 -94 million

 

 

 

 

 

 

 

 

 

31

 

Special factors affecting EBITDA

 

In general

 

The main differences between German GAAP and IFRS result from the following issues:

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Pension provisions and other employee benefits

 

 -204 million

 

 

 

 

 

 

 

 

Sale of cable companies

 

 +70 million

 

 

 

 

 

 

 

 

 

32

 

Adj. EBITDA

 

In general

 

Adjusted EBITDA is the result of the subtraction of special factors affecting EBITDA (31) from EBITDA (30).

 

 

 

 

 

 

 

33

 

Depreciation, amortization,

 

In general

 

The main differences between German GAAP and IFRS result from the following issues:

 

 

 

 

 

 

 

 

 

write-downs, and impairment losses

 

 

 

Discontinuation of amortization of capitalized interest on borrowings as interest not capitalized under IFRS

Discontinuation of amortization of assets from leases

Recognition of internally generated software leads to additional depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Non-amortization of recognized interest on borrowings

 

 +152 million

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 -42 million

 

 

 

 

 

 

 

 

Discontinuation of amortization of assets from leases

 

 +59 million

 

 

 

 

 

 

 

 

Other

 

 44 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Non-amortization of recognized interest on borrowings

 

 +87 million

 

 

 

 

 

 

 

 

Discontinuation of amortization of assets from leases

 

 +70 million

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 -44 million

 

 

 

 

 

 

 

 

Other

 

 +109 million

 

 

 

 

 

 

 

 

 

34

 

Financial result

 

In general

 

The main differences between German GAAP and IFRS result from the following issues:

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension accruals

 

 

 

 

 

 

The interest cost relating to the annual additions to pension accruals is shown under personnel costs under German GAAP; under IFRS, it is shown under net interest (reclassification).

 

 

 

 

 

 

 

 

 

 

 

 

 

Leases (decrease)

 

 

 

 

 

 

Current forms of rentals are treated as leases under IFRS. Classification as finance leases generates the following effects on revenue:

The proportion of revenue classified as a finance component is recognized in net interest.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Pension provisions and other employee benefits

 

 -185 million

 

 

 

 

 

 

 

 

Leases

 

 +26 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Pension provisions and other employee benefits

 

 -137 million

 

 

 

 

 

 

 

 

Leases

 

 +17 million

 

 

 

 

 

 

 

 

 

35

 

Income before income taxes

 

In general

 

See notes on EBITDA (30).

 

 

 

 

 

 

 

36

 

Capex

 

In general

 

There are no significant differences between capex under German GAAP and IFRS at T-Com.

 

10



 

T   Online

 

37

 

Total revenue

 

In general

 

Up-front charges

 

 

 

 

 

 

Higher revenue under IFRS, as the effects of the broadband campaign (provisioning charge) are deferred under IFRS and have only a pro rata negative effect on revenue. Under German GAAP, the negative revenue impact of the provisioning charge is recognized in full immediately.

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Up-front charges

 

 +38 million

 

 

 

 

 

 

 

 

 

38

 

Net revenue

 

In general

 

See notes total revenue (37)

 

 

 

 

 

 

 

39

 

EBITDA

 

In general

 

Up-front charges

 

 

 

 

 

 

Higher revenue under IFRS, as the effects of the broadband campaign (provisioning charge) are deferred under IFRS and have only a pro rata negative effect on revenue. Under German GAAP, the negative revenue impact of the provisioning charge is recognized in full immediately.

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognition of internally generated assets, mainly software

 

 

 

 

 

 

The costs for internally generated assets are no longer charge to expense in full when incurred; they are capitalized as assets and depreciated over the useful life.

For T-Online, this relates in particular to internally generated software.

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Up-front charges

 

 +38 million

 

 

 

 

 

 

 

 

Recognition of internally generated assets, mainly software

 

 +11 million

 

 

 

 

 

 

 

 

 

40

 

Special factors

 

In general

 

There are no significant effects.

 

 

affecting EBITDA

 

 

 

 

 

 

 

 

 

 

 

41

 

Adj. EBITDA

 

In general

 

See notes on EBITDA (39)/Special factors affecting EBITDA (40).

 

 

 

 

 

 

 

42

 

Depreciation,

 

In general

 

No amortization of goodwill

 

 

amortization, write-downs, and impairment losses

 

 

 

The goodwill of equity-accounted investments is not amortized under IFRS, in contrast to German GAAP. Instead, any need for adjustments to goodwill is determined exclusively by means of impairment tests. The amortization of goodwill charged under German GAAP is therefore no longer charged under IFRS. The impairment tests did not determine any need for adjustments.

 

 

 

 

 

 

Recognition of intenally generated software leads to additional depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

No amortization of goodwill

 

 +344 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

No amortization of goodwill

 

 +362 million

 

 

 

 

 

 

 

 

Recognition of intenally generated software leads to additional depreciation and amortization

 

 -14 million

 

 

 

 

 

 

 

 

 

43

 

Financial result

 

In general

 

Lack of write-up of goodwill of comdirect bank

 

 

 

 

 

 

The lower financial result under IFRS is mainly a result of a goodwill write-up under German GAAP for the associated company comdirect bank. Under IFRS there is no write-up impacting the financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

No amortization of goodwill

 

 

 

 

 

 

The goodwill of equity-accounted investments is not amortized under IFRS, in contrast to German GAAP. Instead, any need for adjustments to goodwill is determined exclusively by means of impairment tests. The amortization of goodwill charged under German GAAP is therefore no longer charged under IFRS. The impairment tests did not determine any need for adjustments.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Lack of write-up of goodwill of comdirect bank

 

 -62 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

 +9 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

No amortization of goodwill

 

 +14 million

 

 

 

11



 

44

 

Income before

 

In general

 

No amortization of goodwill

 

 

income taxes

 

 

 

The goodwill of equity-accounted investments is not amortized under IFRS, in contrast to German GAAP. Instead, any need for adjustments to goodwill is determined exclusively by means of impairment tests. The amortization of goodwill charged under German GAAP is therefore no longer charged under IFRS. The impairment tests did not determine any need for adjustments.

 

 

 

 

 

 

 

 

 

 

 

 

 

Lack of write-up of goodwill of comdirect bank

 

 

 

 

 

 

The lower financial result under IFRS is mainly a result of a goodwill write-up under German GAAP for the associated company comdirect bank. Under IFRS there is no write-up impacting the financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

Up-front charges

 

 

 

 

 

 

Higher revenue under IFRS, as the effects of the broadband campaign (provisioning charge) are deferred under IFRS and have only a pro rata negative effect on revenue.

 

 

 

 

 

 

Under German GAAP, the negative revenue impact of the provisioning charge is recognized in full immediately.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

No amortization of goodwill

 

 +344 million

 

 

 

 

 

 

 

 

Lack of write-up of goodwill of comdirect bank

 

 -62 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

No amortization of goodwill

 

 +362 million

 

 

 

 

 

 

 

 

Up-front charges

 

 +38 million

 

 

 

 

 

 

 

 

 

45

 

Capex

 

In general

 

Recognition of internally generated intangible assets.

 

T   Mobile

 

46

 

Total revenue

 

In general

 

The difference between revenue under IFRS and German GAAP is mainly a result of the change in the recognition of activation charges. Whereas activation charges under German GAAP were recognized in full at the beginning of the contract and thus parallel to the cash-in, under IFRS they are spread over the term of the contract. This leads to a spread of revenue recognition over time. The effects are mainly from Germany (FY 04: € +41 million) and the United States (FY 04: € -88 million).

 

 

 

 

 

 

 

47

 

Net revenue

 

In general

 

See notes on total revenue (46).

 

 

 

 

 

 

 

48

 

EBITDA

 

In general

 

Reversal of write-up on FCC licenses (decrease)

 

 

 

 

 

 

The write-up of U.S. mobile communications licenses made under German GAAP corrected previous amortization of these licenses. As FCC licenses are not amortized under IFRS due to the indefinite useful life, there is no need for the write-up either.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture (increase)

 

 

 

 

 

 

The accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless is not recognized under IFRS. Note however the nonscheduled write-down on the license in New York under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Sale of shares in MTS (decrease)

 

 

 

 

 

 

The proceeds from the sale of shares in MTS are shown under net financial income/expense under IFRS and are therefore no longer relevant to EBITDA. These proceeds were shown under “other operating income” under German GAAP.

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognition of internally generated assets, mainly software (increase)

 

 

 

 

 

 

The costs for internally generated assets are no longer charge to expense in full when incurred; they are capitalized as assets and depreciated over the useful life.
This reduces the cost base which burdens EBITDA. For T-Mobile, this relates in particular to internally generated software.

 

 

 

 

 

 

 

 

 

 

 

 

 

ABS transactions (increase)

 

 

 

 

 

 

While the fees to by paid to the special purpose entity are shown as program fees under other operating expenses under German GAAP, consolidation of the special purpose entity leads to the elimination of this expense item under IFRS. The interest expense to be paid by the special purpose entity for the capital market liability corresponds to a great extent to this expense item. This is recognized under interest expense under IFRS, not other operating expenses as under German GAAP. For this reason, these expenses are not included in the calculation of EBITDA.

 

12



 

 

 

 

 

In general

 

Other taxes (decrease)

 

 

 

 

 

 

Other taxes are now included in as costs EBITDA in order to make the derivation of EBITDA from the income statement easier than before.
At T-Mobile these consist mainly of real estate taxes.

 

 

 

 

 

 

 

 

 

 

 

 

 

Main effects:

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Sales of shares in MTS

 

 -352 million

 

 

 

 

 

 

 

 

Other taxes

 

 -94 million

 

 

 

 

 

 

 

 

Revenue recognition

 

 -55 million

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 +117 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No significant effects

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Reversal of write-up on FCC licenses

 

 -1,807 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +602 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Reversal of write-up on FCC licenses

 

 -641 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Sales of shares in MTS

 

 -941 million

 

 

 

 

 

 

 

 

Adjustment of accrual for contingent losses, mobile communications joint venture

 

 -73 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Reversal of write-up on FCC licenses

 

 -2,448 million

 

 

 

 

 

 

 

 

Sales of shares in MTS

 

 -941 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +529 million

 

 

 

 

 

 

 

 

Other taxes

 

 -98 million

 

 

 

 

 

 

 

 

Recognition of internally generated software

 

 +148 million

 

 

 

 

 

 

 

 

Revenue recognition

 

 -50 million

 

 

 

 

 

 

 

 

ABS transactions

 

 +47 million

 

 

 

 

 

 

 

 

 

49

 

Special factors

 

In general

 

Reversal of write-up on FCC licenses (decrease)

 

 

affecting EBITDA

 

 

 

The write-up of U.S. mobile communications licenses made under German GAAP were not made under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture (increase)

 

 

 

 

 

 

The accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless is not recognized under IFRS. Note however the nonscheduled write-down on the license in New York under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Sale of shares in MTS (decrease)

 

 

 

 

 

 

The proceeds from the sale of shares in MTS are shown under net financial income/expense under IFRS and are therefore not relevant to EBITDA, in contrast to German GAAP.

These proceeds were shown under “other operating income” under German GAAP.

 

 

 

 

 

 

 

 

 

 

 

 

 

Main effects:

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Sales of shares in MTS

 

 -352 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No effects

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Reversal of write-up on FCC license

 

 -1,807 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +602 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Reversal of write-up on FCC license

 

 -641 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Sales of shares in MTS

 

 -941 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 -73 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Reversal of write-up on FCC license

 

 -2,448 million

 

 

 

 

 

 

 

 

Reclassification of proceeds from the sale of shares in MTS

 

 -941 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture

 

 +529 million

 

 

 

 

 

 

 

 

 

50

 

Adj. EBITDA

 

In general

 

Adjusted EBITDA is the result of the subtraction of special factors affecting EBITDA (49) from EBITDA (48).

 

13



 

51

 

Depreciation,

 

In general

 

No amortization of goodwill (decrease)

 

 

amortization, write-downs, and impairment losses

 

 

 

The goodwill of subsidiaries, mainly in the UK, the United States, the Netherlands and Austria is not amortized under IFRS, in contrast to German GAAP. Instead, any need for adjustments to goodwill is determined exclusively by means of impairment tests. The amortization of goodwill charged under German GAAP is therefore no longer charged under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses (decrease)

 

 

 

 

 

 

The U.S. mobile communications licenses are no longer amortized under IFRS due to their indefinite useful life. In contrast to German GAAP, UMTS licenses are not amortized from the time of acquisition under IFRS, but from the time the UMTS network is put into commercial operation. The amortization of UMTS licenses charged under German GAAP before the UMTS network was put into operation therefore has to be reversed under IFRS. In Austria the UMTS network was put into operation in December 2003, in Germany in Q2 04 and in the UK in Q3 04. The UMTS newtorks have not yet been put into operation in the Netherlands and the Czech Republic.

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment of goodwill, T-Mobile UK and T-Mobile USA (increase)

 

 

 

 

 

 

The impairment tests required under IFRS found that the goodwill of T-Mobile-UK in 2004 and T-Mobile USA in 2003 needed to be adjusted.

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment resulting from the wind-up of the network joint venture (increase)

 

 

 

 

 

 

The wind-up of the network joint venture between T-Mobile USA and Cingular Wireless resulted in an impairment, mainly relating to the transfer of a 10MHz license in New York to Cingular Wireless in 2007.

 

 

 

 

 

 

 

 

 

 

 

 

 

Main effects:

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

No amortization of goodwill

 

 +1,434 million

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses

 

 +1,113 million

 

 

 

 

 

 

 

 

Impairment, T-Mobile USA

 

 -789 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No amortization of goodwill

 

 +348 million

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses

 

 +265 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Impairment resulting from the wind-up of the network joint venture

 

 -1,353 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

 +356 million

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses

 

 +188 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Impairment, T-Mobile UK

 

 -2,225 million

 

 

 

 

 

 

 

 

Non-amortization of goodwill

 

 +353 million

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses

 

 +71 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

No amortization of goodwill

 

 +341 million

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses

 

 +102 million

 

 

 

 

 

 

 

 

Impairment resulting from the wind-up of the network joint venture

 

 +92 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Goodwill impairment, T-Mobile UK

 

 -2,225 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

 +1,398 million

 

 

 

 

 

 

 

 

Impairment resulting from the wind-up of the network joint venture

 

 -1,261 million

 

 

 

 

 

 

 

 

Different amortization of mobile communications licenses

 

 +626 million

 

 

 

 

 

 

 

 

 

52

 

Financial result

 

In general

 

No amortization of goodwill (decrease)

 

 

 

 

 

 

The goodwill of equity-accounted investments is not amortized under IFRS, in contrast to German GAAP. Instead, any need for adjustments to goodwill is determined exclusively by means of impairment tests. The amortization of goodwill charged under German GAAP is therefore no longer charged under IFRS. The impairment tests did not determine any need for adjustments.

 

 

 

 

 

 

 

 

 

 

 

 

 

Sale of shares in MTS (decrease)

 

 

 

 

 

 

The proceeds from the sale of shares in MTS are shown under net financial income/expense under IFRS and are therefore no longer relevant to EBITDA, in contrast to German GAAP. These proceeds were shown under “other operating income” under German GAAP.

 

 

 

 

 

 

 

 

 

 

 

 

 

Main effects:

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Sales of shares in MTS

 

 +352 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

 +78 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Sales of shares in MTS

 

 +941 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Sales of shares in MTS

 

 +941 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

 +75 million

 

 

 

14



 

53

 

Income before income taxes

 

In general

 

The difference between the results from income before income taxes under IFRS and German GAAP consists of the sum of the effects on EBITDA, depreciation, amortization, write-downs, and impairment losses, and on net financial income/expense, and other taxes.

 

 

 

 

 

 

 

54

 

Capex

 

In general

 

Recognition of internally generated assets, mainly software (increase)

 

 

 

 

 

 

The costs for internally generated assets are no longer charge to expense in full when incurred; they are capitalized as assets and depreciated over the useful life. For
T-Mobile, this relates in particular to internally generated software.

 

 

 

 

 

 

 

 

 

 

 

 

 

Restoration obligations (increase)

 

 

 

 

 

 

In line with the recognition of the provision for restoration obligations, the present value of the discounted future settlement amount is recognized under ifrs as a component of the acquisition costs aktiviert. Interest is then added to the provision in subsequent years; the expense in curred is recognized as interest expense. At the same time, the asset in question is depreciated over its useful life or the term of the obligation.

 

 

 

 

 

 

 

T-Mobile Deutschland

 

 

 

 

 

 

 

55

 

Total revenue

 

In general

 

The spread of revenue recognition for activation revenues over the term of the contracts has a positive impact at T-Mobile Deutschland, as around 613,000 fewer customers were recorded in 2004 than in 2003.

 

 

 

 

 

 

 

56

 

EBITDA and adjusted EBITDA

 

In general

 

There are no significant changes to the special factors relevant to EBITDA at
T-Mobile Deutschland between IFRS and German GAAP. The same therefore applies to adjusted EBITDA as to unadjusted EBITDA.

 

 

 

 

 

 

 

 

 

 

 

 

 

ABS transactions (increase)

 

 

 

 

 

 

While the fees to by paid to the special purpose entity are shown as program fees under other operating expenses under German GAAP, consolidation of the special purpose entity leads to the elimination of this expense item under IFRS. The interest expense to be paid by the special purpose entity for the capital market liability corresponds to a great extent to this expense item. This is recognized under interest expense under IFRS, not other operating expenses as under German GAAP. For this reason, these expenses are not included in the calculation of EBITDA.

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognition of internally generated assets, mainly software (increase)

 

 

 

 

 

 

The costs for internally generated assets are no longer charge to expense in full when incurred; they are capitalized as assets and depreciated over the useful life. This reduces the cost base which burdens EBITDA. For T-Mobile, this relates in particular to internally generated software.

 

 

 

 

 

 

 

57

 

Capex

 

In general

 

Recognition of internally generated assets, mainly software (increase)

 

 

 

 

 

 

The costs for internally generated assets are no longer charge to expense in full when incurred; they are capitalized as assets and depreciated over the useful life. For
T-Mobile, this relates in particular to internally generated software.

 

 

 

 

 

 

 

 

 

 

 

 

 

Restoration obligations (increase)

 

 

 

 

 

 

In line with the recognition of the provision for restoration obligations, the present value of the discounted future settlement amount is recognized under ifrs as a component of the acquisition costs aktiviert. Interest is then added to the provision in subsequent years; the expense in curred is recognized as interest expense. At the same time, the asset in question is depreciated over its useful life or the term of the obligation.

 

 

 

 

 

 

 

T-Mobile UK

 

 

 

 

 

 

 

58

 

 

 

In general

 

There are no significant differences between revenue, EBITDA and capex under German GAAP and IFRS at T-Mobile UK. The proceeds of € 75 million subsequent to the sale of shares in Virgin Mobile are not proceeds of the sale itself and therefore remain relevant to EBITDA under IFRS and are not reclassified to net financial income/expense.

 

15


 

T-Mobile USA

 

 

 

 

 

 

 

59

 

Total revenue

 

In general

 

The spread of revenue recognition for activation revenues over the term of the contracts has a negative impact at T-Mobile USA, as almost one million more customers were recorded in 2004 than in 2003.

 

 

 

 

 

 

 

60

 

EBITDA

 

In general

 

Reversal of write-up on FCC licenses (decrease)

 

 

 

 

 

 

The write-up of U.S. mobile communications licenses made under German GAAP corrected previous amortization of these licenses. As FCC licenses were not amortized under IFRS due to the indefinite useful life, there is no need for the write-up either.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture (increase)

 

 

 

 

 

 

The accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless is not recognized under IFRS. Note however the nonscheduled write-down on the license in New York under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Straight line leasing (decrease)

 

 

 

 

 

 

The change in the recognition of lease expenses leads to an increase in lease expenses for the years 2003 and 2004. If lease increases have been agreed for future periods, they should be spread over the full term of the agreement on a straight line basis.

 

 

 

 

 

 

 

 

 

 

 

 

 

Other taxes (decrease)

 

 

 

 

 

 

Other taxes are now included in as costs EBITDA in order to make the derivation of EBITDA from the income statement easier than before. At T-Mobile these consist mainly of real estate taxes.

 

 

 

 

 

 

 

 

 

 

 

 

 

Main effects:

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Straight line leasing

 

-62 million

 

 

 

 

 

 

 

 

Other taxes

 

-93 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 04

 

No significant effects

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Reversal of write-up on FCC licenses

 

-1,807 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile

 

 

 

 

 

 

 

 

 

 

communications joint venture

 

+602 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Reversal of write-up on FCC licenses

 

-641 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Reversal of accrual for contingent losses, mobile

 

 

 

 

 

 

 

 

 

 

communications joint venture

 

-73 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Reversal of write-up on FCC licenses

 

-2,448 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile

 

 

 

 

 

 

 

 

 

 

communications joint venture

 

+529 million

 

 

 

 

 

 

 

 

Straight line leasing

 

-79 million

 

 

 

 

 

 

 

 

Other taxes

 

-92 million

 

 

 

 

 

 

 

 

 

61

 

Special factors

 

In general

 

Reversal of write-up on FCC licenses (decrease)

 

 

affecting EBITDA

 

 

 

The write-up of U.S. mobile communications licenses made under German GAAP corrected previous amortization of these licenses. As FCC licenses are not amortized under IFRS due to the indefinite useful life, there is no need for the write-up either.

 

 

 

 

 

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile communications joint venture (increase)

 

 

 

 

 

 

The accrual for contingent losses relating to the wind-up of the mobile communications joint venture between T-Mobile USA and Cingular Wireless is not recognized under IFRS. Note however the nonscheduled write-down on the license in New York under IFRS.

 

 

 

 

 

 

 

 

 

 

 

FY 2003/

 

No effects

 

 

 

 

 

 

 

 

 

Q1 04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 04

 

Reversal of write-up on FCC licenses

 

-1,807 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile

 

 

 

 

 

 

 

 

 

 

 

communications joint venture

 

+602 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3 04

 

Reversal of write-up on FCC licenses

 

-641 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q4 04

 

Reversal of accrual for contingent losses, mobile

 

 

 

 

 

 

 

 

 

 

 

communications joint venture

 

+73 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Reversal of write-up on FCC licenses

 

-2,448 million

 

 

 

 

 

 

 

 

Reversal of accrual for contingent losses, mobile

 

 

 

 

 

 

 

 

 

 

 

communications joint venture

 

+529 million

 

 

 

16



 

62

 

Adj. EBITDA

 

In general

 

Adjusted EBITDA is the result of the subtraction of special factors affecting EBITDA (61) from EBITDA (60).

 

 

 

 

 

 

 

63

 

Capex

 

In general

 

Recognition of internally generated assets, mainly software (increase)

 

 

 

 

 

 

The costs for internally generated assets are no longer charge to expense in full when incurred; they are capitalized as assets and depreciated over the useful life. For
T-Mobile, this relates in particular to internally generated software.

 

 

 

 

 

 

 

 

 

 

 

 

 

Restoration obligations (increase)

 

 

 

 

 

 

In line with the recognition of the provision for restoration obligations, the present value of the discounted future settlement amount is recognized under ifrs as a component of the acquisition costs aktiviert. Interest is then added to the provision in subsequent years; the expense in curred is recognized as interest expense. At the same time, the asset in question is depreciated over its useful life or the term of the obligation.

 

 

 

 

 

 

 

T-Mobile Netherlands

 

 

 

 

 

 

 

64

 

Total revenue

 

In general

 

There are no significant differences between revenue, EBITDA and capex under German GAAP and IFRS at T-Mobile Netherlands.

 

 

 

 

 

 

 

T-Mobile Austria

 

 

 

 

 

 

 

65

 

 

 

In general

 

There are no significant differences between revenue, EBITDA and capex under German GAAP and IFRS at T-Mobile Austria.

 

 

 

 

 

 

 

T-Mobile CZ

 

 

 

 

 

 

 

66

 

 

 

In general

 

There are no significant differences between revenue, EBITDA and capex under German GAAP and IFRS at T-Mobile CZ.

 

17



 

T   Systems

 

67

 

Total revenue

 

In general

 

Revenue recognition

 

 

 

 

 

 

The differences between German GAAP and IFRS relate mainly to the valuation of long-term construction contracts and multiple-element arrangements.

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation of construction contracts

 

 

 

 

 

 

Under the provisions of German GAAP, revenues relating to construction contracts are not recognized until the work has been accepted by the customer. Under IFRS, however, revenues and costs can be recognized during the course of the project in line with its progress. The progress of the project is measured in terms of costs incurred to date as a proportion the estimated total costs for completion of the contract.

 

 

 

 

 

 

In general, the use of the percentage of completion method under IFRS leads to earlier recognition of the results of the contract.

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation of multiple-element arrangements

 

 

 

 

 

 

IFRS includes special accounting provisions for multiple-element arrangements that do not exist under German GAAP. As such, it may be necessary to recognize revenue for individual elements of a contract at a later date or at a different value under IFRS than under German GAAP. If an individual element has no independent value for the customer and has no reliably measurable “fair value”, the element must be combined with other elements for accounting purposes. Under IFRS, revenue is only recognized once the work for the combined elements has been completed.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Valuation of construction contracts

 

-61 million

 

 

 

 

 

 

 

 

Valuation of multiple-element arrangements

 

-97 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Valuation of construction contracts

 

-86 million

 

 

 

 

 

 

 

 

Valuation of multiple-element arrangements

 

-145 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

68

 

Net revenue

 

In general

 

See notes on total revenue (67).

 

 

 

 

 

 

 

69

 

EBITDA

 

In general

 

Revenue recognition

 

 

 

 

 

 

Multiple-element arrangements, construction contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance leases

 

 

 

 

 

 

Whereas under German GAAP, the ongoing lease expenses are recognized in the income statement, under IFRS the scheduled depreciation on the assets is expensed and the interest component of the lease liability is shown as interest expense. This results in the interest expense as well as depreciation and amortization correct under IFRS as an EBITDA reconciliation effect between German GAAP and IFRS (positive reconciliation effect).

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension accruals

 

 

 

 

 

 

Under IFRS, the interest cost of pension accruals is shown under the financial result, which leads to an increase in EBITDA.

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions for restoration obligations

 

 

 

 

 

 

Provisions for restoration obligations that did not fulfill strict recognition criteria under IFRS had to be reversed. When the planned restructuring measures is implemented, the expense anticipated by the recognition of the provision is realized under IFRS with a time lag (negative reconciliation effect).

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Finance leases

 

+138 million

 

 

 

 

 

 

 

 

Valuation of construction contracts

 

-31 million

 

 

 

 

 

 

 

 

Provisions for restoration obligations

 

-115 million

 

 

 

 

 

 

 

 

Valuation of multiple-element arrangements

 

-31 million

 

 

 

 

 

 

 

 

Pension accruals

 

+70 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Finance leases

 

+138 million

 

 

 

 

 

 

 

 

Valuation of construction contracts

 

-11 million

 

 

 

 

 

 

 

 

Provisions for restoration obligations

 

-118 million

 

 

 

 

 

 

 

 

Valuation of multiple-element arrangements

 

-17 million

 

 

 

 

 

 

 

 

Pension accruals

 

+39 million

 

 

 

 

 

 

 

 

 

70

 

Special factors affecting EBITDA

 

In general

 

Differing special factors under German GAAP and IFRS are mainly the result of deconsolidation effects due to other disposals of equity or goodwill.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Differing deconsolidation effects

 

70 million

 

 

 

 

 

 

 

 

 

71

 

Adjusted EBITDA

 

In general

 

Adjusted EBITDA is the result of the subtraction of special factors affecting EBITDA (70) from EBITDA (69).

 

18



 

72

 

Depreciation, amortization, write-

 

In general

 

Valuation difference between German GAAP/IFRS relates mainly to the recognition of finance leases (see above) and the prohibition of regular amortization under IFRS.

 

 

downs, and

 

 

 

 

 

 

impairment losses

 

 

 

No amortization of goodwill

 

 

 

 

 

 

Goodwill is not amortized under IFRS, in contrast to German GAAP. Instead, any need for adjustments to goodwill is determined exclusively by means of impairment tests. The amortization of goodwill charged under German GAAP is therefore no longer charged under IFRS.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Amortization of finance leases

 

-174 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

+656 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Amortization of finance leases

 

-130 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

+603 million

 

 

 

 

 

 

 

 

 

73

 

EBIT

 

In general

 

EBIT is the result of the subtraction of Depreciation, amortization, write-downs, and impairment losses (72) from EBITDA (69).

 

 

 

 

 

 

 

74

 

Financial result

 

In general

 

The German GAAP/IFRS reconciliation effects mainly result from the difference in accounting and reporting regulations concerning finance leases and pension accruals. Under IFRS, the interest cost for lease liabilities and pension accruals is shown under net financial income/expense.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Finance leases

 

-18 million

 

 

 

 

 

 

 

 

Pension accruals

 

-25 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Finance leases

 

-13 million

 

 

 

 

 

 

 

 

Pension accruals

 

-27 million

 

 

 

 

 

 

 

 

 

75

 

Income before income taxes

 

In general

 

The valuation differences result from the differing accounting regulations for finance leases, valuation of construction contracts, recognition of restructuring accruals, valuation of multiple-element arrangements, differing valuation of pension accruals and the lack of goodwill amortization under IFRS.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Finance leases

 

-53 million

 

 

 

 

 

 

 

 

Valuation of construction contracts

 

-31 million

 

 

 

 

 

 

 

 

Provisions for restoration obligations

 

-115 million

 

 

 

 

 

 

 

 

Valuation of multiple-element arrangements

 

-31 million

 

 

 

 

 

 

 

 

Pension accruals

 

+45 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

+656 million

 

 

 

 

 

 

 

 

Differing deconsolidation effects

 

+70 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Finance leases

 

+60 million

 

 

 

 

 

 

 

 

Valuation of construction contracts

 

-11 million

 

 

 

 

 

 

 

 

Provisions for restoration obligations

 

-182 million

 

 

 

 

 

 

 

 

Valuation of multiple-element arrangements:

 

-17 million

 

 

 

 

 

 

 

 

Pension accruals

 

+12 million

 

 

 

 

 

 

 

 

No amortization of goodwill

 

+603 million

 

 

 

 

 

 

 

 

 

76

 

Capex

 

In general

 

Differences are mainly the result of the recognition of assets as part of the presentation of finance leases and the recognition of internally generated software.

 

19



 

GHS

 

 

 

 

 

 

 

77

 

Total revenue

 

In general

 

No significant difference

 

 

 

 

 

 

 

78

 

Net revenue

 

In general

 

No significant difference

 

 

 

 

 

 

 

79

 

EBITDA

 

In general

 

Valuation and reclassification to financial result for pension accruals and accrual for subsidies to the civil servant health insurance fund (PBKK)

 

 

 

 

 

 

Under IFRS, the interest cost of pension accruals is shown under the financial result and not under personnel costs. Reversal of AML interest effect, as AML is not recognized under IFRS.

 

 

 

 

 

 

Reclassification of addition to accrual due to the adjustment of the discount rate applied for PBKK from profit/loss from operations, because shown under financial result under IFRS.

 

 

 

 

 

 

 

 

 

 

 

 

 

Leasing - valuation and reclassification to financial result

 

 

 

 

 

 

The tax treatment of leases is generally used for the classification of leases in consolidated financial statements under German GAAP. A considerably larger number of leases tend to be classified as finance leases under IFRS. While in an operating lease it is the lessor that recognizes the asset, it is the lessee that recognizes the asset in a finance lease.

 

 

 

 

 

 

 

 

 

 

 

 

 

Deutsche Telekom has entered into sale and leaseback transactions in connection with its real estate portfolio. Under German GAAP, these transactions were usually treated as a sale of the real estate that was subsequently leased back, whereas under IFRS the buildings must be classified as finance leases and the land as operating leases. Under IFRS, this results in the recognition of interest expense and a depreciation charge for the buildings and the recognition of rental expense for the land; the disposal gain must be spread over the term of the lease. Under German GAAP, gains or losses from the sale of real estate are recorded, as is rental expense.

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial instruments and currency translation

 

 

 

 

 

 

The changes in EBITDA between German GAAP and IFRS relate to reclassifications from other operating income /expense to the financial result. Reclassifications include gains and losses from the valuation of foreign currency accounts (including bonds issued, foreign currency derivatives).

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification of gains on the disposal of the shares to financial result

 

 

 

 

 

 

Under IFRS; results from sales of shares are no longer shown under operating profit, but under financial result.

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in recognition of provisions under IFRS

 

 

 

 

 

 

In the other provisions, it is primarily the restructuring provisions that increase shareholders’ equity in all of the periods presented because the recognition of restructuring provisions under IFRS is subject to more detailed and stricter criteria than under German GAAP.

 

 

 

 

 

 

Furthermore, accruals, in particular for contingent losses, recognized under German GAAP are not carried under IFRS.

 

 

 

 

 

 

 

 

 

 

 

FY 2003

 

Mainly:

 

 

 

 

 

 

 

 

 

 

 

Pension accruals and accrual for subsidy to PBKK

 

+125 million

 

 

 

 

 

 

 

 

Financial instruments and currency translation

 

-65 million

 

 

 

 

 

 

 

 

Gains on the disposal of shares and change in the recognition of accruals

 

+103 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY04

 

Mainly:

 

 

 

 

 

 

 

 

 

 

 

Pension accruals, leasing and accrual for subsidies to PBKK and change in recognition of accruals

 

+223 million

 

 

 

 

 

 

 

 

Financial instruments and currency translation

 

-22 million

 

 

 

 

 

 

 

 

Gains on the disposal of the shares

 

-258 million

 

 

 

 

 

 

 

 

 

80

 

of which Vivento

 

In general

 

Mainly effects from the change in the recognition of accruals for contingent losses under IFRS.

 

 

 

 

 

 

 

81

 

Special factors

 

FY 2003

 

Mainly:

 

 

 

 

 

 

 

affecting EBITDA

 

 

 

Gains on the disposal of shares and change in the recognition of accruals

 

+67 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Mainly:

 

 

 

 

 

 

 

 

 

 

 

Gains on the disposal of shares and change in the recognition of accruals

 

-307 million

 

 

 

20



 

82

 

Adj. EBITDA

 

FY 2003

 

Mainly:

 

 

 

 

 

 

 

 

 

 

 

Pension accruals and accrual for subsidy to PBKK

 

+125 million

 

 

 

 

 

 

 

 

Change in recognition of accruals

 

+36 million

 

 

 

 

 

 

 

 

Financial instruments and currency translation

 

-65 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2004

 

Mainly:

 

 

 

 

 

 

 

 

 

 

 

Pension accruals, leasing and accrual for PBKK

 

 

 

 

 

 

 

 

 

 

 

and change in recognition of accruals

 

+272 million

 

 

 

 

 

 

 

 

Financial instruments and currency translation

 

-22 million

 

 

 

 

 

 

 

 

 

83

 

of which Vivento

 

In general

 

Mainly effects from the change in the recognition of accruals for contingent losses under IFRS.

 

 

 

 

 

 

 

84

 

Depreciation,

 

In general

 

Mainly:

 

 

amortization, write-downs, and impairment losses

 

 

 

Depreciation and amortization reduced by leases, recognition of internally generated software and restoration obligations;
Depreciation and amortization increased by non-recognition uner IFRS of nonscheduled; write-down charged under German GAAP and non-capitalization of interest of borrowings.

 

 

 

 

 

 

 

85

 

Financial result

 

In general

 

Mainly gains on the disposal of shares, interest cost on pension accruals, accruals on subsidies to the BPKK, as well as leases, currency translation adjustment effects and measurement of financial instruments.

 

 

 

 

 

 

 

86

 

Income before income taxes

 

In general

 

See notes EBITDA (107), Depreciation, amortization, write-downs, and impairment losses (112), and financial result (113).

 

 

 

 

 

 

 

87

 

Capex

 

In general

 

Mainly the change in the recognition of leases and restoration obligations.

 

 

 

 

 

 

 

Balance Sheet

 

 

 

 

 

 

 

 

 

 

 

88

 

Trade receivables and other receivables

 

In general

 

The IFRS adjustments consist mainly of different consolidation regulations for special purpose entities with which Deutsche Telekom carries out ABS transactions (in 2003 € +1.7 and in 2004 € +1.5 billion). See notes on Current financial liabilities (97), Liabilities arising from ABS transactions (123).

 

 

 

 

 

 

 

 

 

 

 

 

 

A further increase in trade receivables is the result of revenue recognition for long-term construction contracts using the percentage of completion method (in 2003 € + 0.3 and in 2004 € + 0.1 billion).

 

 

 

 

 

 

 

89

 

Other current financial assets

 

In general

 

The IFRS adjustments relate mainly to the fair value valuation of derivative financial instruments in accordance with IAS 39 (in 2003 € + 0.3 and in 2004 € + 0.2 billion).

 

 

 

 

 

 

 

90

 

Inventories

 

In general

 

The reduction in the carrying amount of inventories is mainly a result of the application of the percentage of completion method are part of long-term construction contracts (in 2003 € -0.2 billion).

 

 

 

 

 

 

 

91

 

Other current assets

 

In general

 

Under German GAAP, when funds are borrowed, the difference between the payment amount and the repayment amount (discount) is recognized as a deferred tax asset, whereas no discount is recognized under IFRS. The non-recognition of the discount leads to a reduction of other current and noncurrent assets (current: in both 2003 and in 2004 € -0.1 billion; noncurrent: in 2003 € -0.2 and in 2004 € -0.1 billion).

 

 

 

 

 

 

 

92

 

Intangible assets

 

In general

 

The adjustments for intangible assets are the result of differing valuation methods for goodwill (in 2003 € -3.5 and in 2004 € -3.1 billion), mobile communications licenses (in 2003 € +13.1 and in 2004 € +9.8 billion) and the recognition of internally generated software (in both 2003 and 2004 € +0.6 billion).

 

21



 

93

 

Property, plant, and equipment

 

In general

 

A considerable proportion of the changes in carrying amounts for property, plant, and equipment (in 2003 € +1.7 and in 2004 € +1.6 billion) is attributable to leasing issues. The tax treatment of leases is generally used for the classification of leases in consolidated financial statements under German GAAP. Under IFRS, the classification of leased assets is defined in IAS 17. A considerably larger number of leases tend to be classified as finance leases under IFRS. While in an operating lease it is the lessor that recognizes the asset, it is the lessee that recognizes the asset in a finance lease. Deutsche Telekom has entered into sale and leaseback transactions in connection with its real estate portfolio. Under German GAAP, these transactions were usually treated as a sale of the real estate that was subsequently leased back, whereas under IFRS the buildings must be classified as finance leases and the land as operating leases.

The recognition of provisions for restoration obligations continues to contribute to the increase in the carrying amount of property, plant, and equipment (in both 2003 and in 2004 € +0.2 billion). In line with the recognition of the provision for restoration obligations, under IFRS, the amount of the probable future obligation must be recognized as part of the cost of the respective asset.

In addition, adjustments to the valuation of depreciation and the reversal of write-ups lead to an increase in the carrying amount of property, plant, and equipment (in 2003 € +0.4 and in 2004 € +0.5 billion).

Furthermore, the fact that Deutsche Telekom does not make use of the option under IFRS to recognize borrowing costs results in adjustments having to be made. Under German GAAP, borrowing costs accounted for during the construction period were recognized. The non-recognition of interest of borrowings reduces the carrying amount of property, plant, and equipment (in 2003 € -0.6 and in 2004 € -0.5 billion).

 

 

 

 

 

 

 

94

 

Other noncurrent financial assets

 

In general

 

In accordance with IAS 39, investments in not fully consolidated subsidiaries must be measured at their fair value. According to German GAAP, these assets are measured at amortized cost or, if appropriate, at the lower fair value. Differing valuation methods between IFRS and German GAAP lead to an increase in the carrying amount of other noncurrent financial assets under IFRS (in 2003 € +0.3 and in 2004 € +0.9 billion).

Furthermore, cash securities in conjunction with ABS transactions also increase this item (in both 2003 and in 2004 € +0.2 billion).

 

 

 

 

 

 

 

95

 

Deferred tax assets

 

In general

 

Deutsche Telekom did not apply GAS 10 in its consolidated financial statements under German GAAP up to December 31, 2004. The differences in the definition of deferred taxes under IFRS and German GAAP relate in particular to Deutsche Telekom AG’s “contribution goodwill”, tax loss carryforwards, and general recognition and measurement differences between IFRS and German GAAP.

As a result of the privatization of Deutsche Telekom AG, goodwill was recognized in the tax accounts (“contribution goodwill”), yet no goodwill is to be capitalized in Deutsche Telekom AG’s consolidated balance sheets under IFRS. Deutsche Telekom recognizes deferred taxes on this temporary difference in accordance with IAS 12 that will be reversed on a pro rata basis through goodwill amortization.

Furthermore, under IFRS - in contrast to German GAAP - deferred tax assets are recognized on future expected tax reductions from the deduction of tax loss carryforwards. Taking the forecast development of earnings into account, it is sufficiently certain that the recognized deferred tax assets from loss carryforwards will be realized.

 

 

 

 

 

 

 

96

 

Other noncurrent assets

 

In general

 

The change in the carrying amount of other noncurrent assets is mainly due to the difference in revenue recognition between German GAAP and IFRS as part of the recording of up-front fees and incremental costs. Deferred tax assets relating to expenses from the provision of services amounted to € 0.3 billion in both 2003 and 2004.

 

22



 

97

 

Current financial liabilities

 

In general

 

The positive adjustment effect in current financial liabilities relates mainly to the fair value valuation of derivative financial instruments in accordance with IAS 39 (in 2003 € +0.1 and in 2004 € +0.7 billion).

The increase in the carrying amount of financial liabilities is mainly due to the fact that many more leases are classified as finance leases under IFRS than under German GAAP (€ +1.9 billion in 2003 and € +2.0 billion in 2004). This leads to the recognition of lease liabilities amounting to the fair value of the future lease payments. Lease payments that are due within one year are shown under current financial liabilities (in both 2003 and in 2004 € +0.1 billion).

Deutsche Telekom has entered into sale and leaseback transactions in connection with its real estate portfolio. Under German GAAP, these transactions were usually treated as a sale of the real estate that was subsequently leased back, whereas under IFRS the buildings must be classified as finance leases and the land as operating leases.

Furthermore, the consolidation of special purpose entities with which Deutsche Telekom carries out ABS transactions and which have to be fully consolidated under IFRS leads to an increase in current financial liabilities of € 0.1 billion in 2003 and € 0.3 billion in 2004. As part of asset-backed securities (ABS) transactions, mostly financial assets are sold to a special-purpose entity (SPE), please refer to notes on Liabilities arising from ABS transactions (123).

The effective interest rate method for valuing financial liabilities has the effect of reducing this item.

When valuing financial liabilities incurred in foreign currencies “unrealized” currency gains that reduce the carrying amount also have to be recognized under IFRS, in contrast to German GAAP (in 2003 € -0.3 billion).

 

 

 

 

 

 

 

98

 

Current provisions

 

In general

 

In the other provisions, it is primarily the restructuring provisions that decrease the carrying amount of provisions because the recognition of restructuring provisions under IFRS is subject to more detailed and stricter criteria than under German GAAP. Furthermore, provisions for future internal expenses that may be recognized under German GAAP are not carried under IFRS.

 

 

 

 

 

 

 

99

 

Noncurrent
financial liabilities

 

In general

 

The increase of noncurrent financial liabilities is mainly due to lease liabilities (in 2003 € +1.8 billion and in 2004 € +1.9 billion) and liabilities arising from ABS transactions (in both 2003 and 2004 € +1.1 billion). Please refer to notes on Current financial liabilities (97).

 

 

 

 

 

 

 

100

 

Pension provisions and other employee benefits

 

In general

 

Provisions must be recognized for pension obligations under both German GAAP and IFRS. Under German commercial law, Deutsche Telekom’s pension obligations were calculated in accordance with the provisions of SFAS 87. Differences between the carrying amounts under IFRS and SFAS 87 arise in particular from the different treatment of actuarial gains and losses and the fact that the additional minimum liability is not recognized under IFRS.

 

 

 

 

 

 

 

101

 

Other noncurrent provisions

 

In general

 

For adjustment effects of other noncurrent provisions, please refer to notes on Other current provisions (98).

The increase in provisions for restoration obligations in particular leads to additional effects in the area of noncurrent provisions. The discounting of noncurrent provisions under IFRS has a counteracting effect of reducing the carrying amount.

 

 

 

 

 

 

 

102

 

Deferred tax liabilities

 

In general

 

Deferred tax liabilities relate mainly to valuation differences between IFRS and German GAAP in connection with realized hidden reserves for U.S. mobile communications licenses; other recognition and valuation differences between IFRS and German GAAP also lead to deferred tax liabilities.

 

23



 

103

 

Other noncurrent liabilities

 

In general

 

The change in the carrying amount of other current and noncurrent liabilities is mainly due to the difference in revenue recognition between German GAAP and IFRS as part of the recording of up-front fees (current: in 2004 € +0.1 billion; noncurrent: in 2003 € +1.4 and in 2004 € +1.6 billion).

 

 

 

 

 

 

 

104

 

Capital reserves

 

In general

 

Under IFRS, share issue costs are offset against the premium. Under German GAAP they were expensed.

 

 

 

 

 

 

 

105

 

Retained earnings incl. carryforwards

 

In general

 

At the date of transition to IFRS (January 1, 2003), Deutsche Telekom exercised the option of offsetting foreign currency reserves against retained earnings. This have a positive effect on accumulated other net profit and a negative effect on retained earnings.

 

 

 

 

 

 

 

106

 

Accumulated other net profit

 

In general

 

At the date of transition to IFRS, Deutsche Telekom exercised the option of offsetting foreign currency reserves against retained earnings. This have a positive effect on accumulated other net profit and a negative effect on retained earnings.

 

 

 

 

 

 

 

107

 

Consolidated net profit/loss

 

In general

 

Consolidated net profit changed as a result of the effects of the transition to IFRS.

 

 

 

 

 

 

 

108

 

Minority interest

 

In general

 

Minority interest must be recognized under shareholders’ equity under IFRS. Differences in recognition and valuation between IFRS and German GAAP have an effect on the valuation of minority interest.

 

Equity reconciliation

 

109

 

Goodwill and mobile communications licenses

 

In general

 

In contrast to German GAAP, under IFRS U.S. mobile communications licenses are not amortized on account of their indefinite useful life but instead are reviewed for impairment once a year (“impairment-only approach”). The impairment test is not performed separately for individual assets, however, but at the level of the cash-generating unit T-Mobile USA. Since goodwill is also allocated to the cash-generating unit T-Mobile USA under IFRS, this goodwill must be initially written down under IAS 36 in case of an impairment. For this reason, the amortization and impairment of the U.S. mobile communications licenses charged in accordance with German GAAP as of January 1, 2003 and the write-up recognized in 2004 were reversed.

 

 

 

 

 

 

 

 

 

 

 

 

 

The impairments tests carried out for the cash-generating units once annually and, if a triggering event exists, during the year, led to the following impairment of goodwill:

 

 

 

 

 

 

 

 

 

 

 

 

 

The impairment test performed in accordance with IFRS resulted in an impairment of the T-Mobile USA cash-generating unit as of January 1, 2003 and December 31, 2003 which was recognized through a reduction in the goodwill carrying amount. As part of the winding up of the U.S. mobile communications joint venture with Cingular Wireless in 2004 and the ensuing transfer of mobile communications licenses, these assets were partially written down. The impairment test of the cash-generating unit T-Mobile UK, which is part of the T-Mobile division, resulted in an impairment under IFRS as of January 1, 2003 and December 31, 2004. The impairment loss of T-Mobile UK’s UMTS license recognized in the individual measurement under German GAAP was reversed under IFRS as of January 1, 2003. The impairment test of the cash-generating unit T-Mobile Netherlands, which is part of the T-Mobile division, resulted in an impairment under IFRS as of January 1, 2003 which was recognized through a reduction in the goodwill carrying amount.
The impairment test of the cash-generating unit MATAV, which is part of the T-Com division, resulted in impairment under IFRS as of January 1, 2003 and December 31, 2003; the impairment test of the Slovak Telecom cash-generating unit, which is part of the T-Com division, resulted in impairment under IFRS as of December 31, 2004. These impairments were recognized through a goodwill write-down.

 

 

 

 

 

 

 

 

 

 

 

 

 

In connection with UMTS licenses, adjustments have to be made on account of the fact that under German GAAP amortization begins at the date of acquisition, while under IFRS the date on which the network starts operating is relevant for the start of amortization. The reversal of the amortizations already charged under German GAAP increases shareholders’ equity under IFRS on all of the dates presented.

 

 

 

 

 

 

 

110

 

Software

 

In general

 

Recognizing internally generated software, which is not permissible under German GAAP, increases shareholders’ equity under IFRS in all of the periods presented. In the periods following the recognition, the net profit under IFRS remains largely unaffected.

 

24



 

111

 

Interest on borrowings

 

In general

 

The fact that Deutsche Telekom does not make use of the option under IFRS to recognize borrowing costs results in adjustments having to be made. Under German GAAP, borrowing costs accounted for during the construction period were recognized. Not recognizing borrowing costs reduces shareholders’ equity under IFRS in all periods. The lower amortization than under German GAAP increases the net profit.

 

 

 

 

 

 

 

112

 

Measurement of investments in companies not fully consolidated and not accounted for in the consolidated financial statements under the equity method

 

In general

 

Investments in companies not fully consolidated and not accounted for in the consolidated financial statements under the equity method must be measured at fair value according to IAS 39. As a rule, the resulting unrealized gains and losses are recognized directly in equity. According to German GAAP, these assets are measured at amortized cost or, if appropriate, at the lower fair value. As a result of the different accounting policies used under IFRS and German GAAP, the IFRS shareholders’ equity increases in all of the periods presented.

 

 

 

 

 

 

 

113

 

Leasing

 

In general

 

The tax treatment of leases is generally used for the classification of leases in consolidated financial statements under German GAAP. Under IFRS, the classification of leased assets is defined in IAS 17. A considerably larger number of leases tend to be classified as finance leases under IFRS. While in an operating lease it is the lessor that recognizes the asset, it is the lessee that recognizes the asset in a finance lease.

 

 

 

 

 

 

 

 

 

 

 

 

 

Deutsche Telekom has entered into sale and leaseback transactions in connection with its real estate portfolio. Under German GAAP, these transactions were usually treated as a sale of the real estate that was subsequently leased back, whereas under IFRS the buildings must be classified as finance leases and the land as operating leases. Under IFRS, this results in the recognition of interest expense and a depreciation charge for the buildings and the recognition of rental expense for the land; the disposal gain must be spread over the term of the lease. Under German GAAP, gains or losses from the sale of real estate are recorded, as is rental expense.

 

 

 

 

 

 

 

 

 

 

 

 

 

This reduces shareholders’ equity and the net profit under IFRS in all of the periods presented.

 

 

 

 

 

 

 

114

 

Provisions

 

In general

 

Provisions must be recognized for pension obligations under both German GAAP and IFRS. Under German commercial law, Deutsche Telekom’s pension obligations were calculated in accordance with the provisions of SFAS 87. Differences between the carrying amounts under IFRS and SFAS 87 arise in particular from the different treatment of actuarial gains and losses and the fact that the additional minimum liability is not recognized under IFRS. This reduces shareholders’ equity in the opening consolidated balance sheet under IFRS and increases it at the two other reporting dates presented. The net profit increases in the two periods presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

In the other provisions, it is primarily the restructuring provisions that increase shareholders’ equity in all of the periods presented because the recognition of restructuring provisions under IFRS is subject to more detailed and stricter criteria than under German GAAP. Furthermore, provisions for future internal expenses that may be recognized under German GAAP are not carried under IFRS.

 

 

 

 

 

 

 

115

 

Deferred revenue

 

In general

 

The main difference between German GAAP and IFRS is the way up-front fees are recognized. Under German GAAP, the up-front fees are recognized as revenue on the date on which the line is activated. Under IFRS, on the other hand, the up-front fees and the incremental costs are accrued over the average duration of the customer relationship. This reduces shareholders’ equity in all of the periods presented. The net profit remains largely unaffected.

 

 

 

 

 

 

 

116

 

Other IFRS adjustments

 

In general

 

Other IFRS adjustments relate, for example, to the different accounting principles regarding asset-backed securities (ABS) transactions, long-term construction contracts (percentage-of-completion method), derivatives and measurement of property, plant, and equipment. All in all this increased shareholders’ equity in all of the periods presented. The net profit remains largely unaffected.

 

25



 

117

 

Deferred taxes

 

In general

 

Deutsche Telekom did not apply GAS 10 in its consolidated financial statements under German GAAP up to December 31, 2004. The differences in the definition of deferred taxes under IFRS and German GAAP relate in particular to Deutsche Telekom AG’s “contribution goodwill”, tax loss carryforwards, and general recognition and measurement differences between IFRS and German GAAP.

 

 

 

 

 

 

 

 

 

 

 

 

 

As a result of the privatization of Deutsche Telekom AG, goodwill was recognized in the tax accounts (“contribution goodwill”), yet no goodwill is to be capitalized in Deutsche Telekom AG’s consolidated balance sheets under IFRS. Deutsche Telekom recognizes deferred taxes on this temporary difference in accordance with IAS 12 that will be reversed on a pro rata basis through goodwill amortization. The recognition of deferred taxes on goodwill increases shareholders’ equity under IFRS in all of the periods presented; the net profit decreases in all of the periods presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

Furthermore, under IFRS - in contrast to German GAAP - deferred tax assets are recognized on future expected tax reductions from the deduction of tax loss carryforwards. Taking the forecast development of earnings into account, it is sufficiently certain that the recognized deferred tax assets from loss carryforwards will be realized. The recognition of these deferred tax assets increases shareholders’ equity and reduces the net profit under IFRS in all of the periods presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

The deferred taxes recognized on measurement differences primarily relate to deferred tax liabilities on measurement differences between IFRS and German GAAP in connection with the realized hidden reserves for U.S. mobile communications licenses. The recognition of these deferred tax liabilities reduces shareholders’ equity under IFRS. Since these licenses are not amortized, the deferred tax liabilities are initially not released. The impairment recognized under IFRS in 2004 and the reversal of the write-up of these licenses under German GAAP resulted in the corresponding release of the deferred tax liabilities and, consequently, in an increase in net profit under IFRS.

 

 

Statement of cash flows

 

 

 

118

 

Internally generated software

 

In general

 

Under German GAAP, expenses for internally generated software are recognized as operational expenses. As such, the expenditures are shown under cash flows from operating activities.

 

 

 

 

 

 

 

 

 

 

 

 

 

Under IFRS, these expenses are recognized as internally generated intangible assets. These expenditures therefore lead to an increase in assets and are shown under cash flows from investing activities.

 

 

 

 

 

 

 

119

 

ABS

 

In general

 

Under IFRS, an increase of both financial liabilities and trade receivables (please refer to notes on Trade receivables and other receivables (88)). Changes under this item are shown accordingly under cash flow from financing activities/working capital and therefore cash flow from operating activities. The effects of retained discounts and fractions are no longer shown under cash flows from operating activities, but under financial liabilities/financial receivables and shown under cash flows from investing/financing activities.

 

 

 

 

 

 

 

120

 

Leasing

 

In general

 

Agreements that are classified as finance leases under IFRS in contrast to German GAAP lead to the recognition of the leased property by the lessee, combined with a corresponding entry under lease liabilities. The lease figures represent interest and repayment figures for the lessee. These repayment figures are shown under cash flows from financing activities. In the case of an operating lease under German GAAP, these (operational) lease payments were assigned to cash flows from operating activities.

 

 

 

 

 

 

 

 

 

 

 

 

 

In cases where Deutsche Telekom is the lessor of a finance lease under IFRS, the payments received (from the lessee) represent repayments of financial receivables and as such are shown under cash flows from investing activities.

 

 

 

 

 

 

 

121

 

Interest on borrowings

 

In general

 

In the case of a finance lease, the assets are measured at the lower of the fair value of the leased property and the present value of the minimum lease payments in the lessee’s balance sheet. At the same time, a lease liability is recognized. As a result, Deutsche Telekom’s net financial liabilities increase.

 

26



 

Net financial liabilities

 

122

 

Lease liabilities

 

In general

 

In the case of a finance lease, the assets are measured at the fair value of the leased property and the present value of the minimum lease payments in the lessee’s balance sheet. At the same time, a lease liability is recognized. As a result, Deutsche Telekom’s net financial liabilities increase.

 

 

 

 

 

 

 

123

 

Liabilities arising from ABS transactions

 

In general

 

As part of asset-backed securities (ABS) transactions, mostly financial assets are sold to a special-purpose entity (SPE). The SPE itself than raises money on the capital market secured with the purchased receivables. Under IFRS, SPEs must generally be consolidated by the economic beneficiary. In total, there are three SPEs arising from ABS transactions that have to be consolidated by Deutsche Telekom. The capital market liabilities recognized by the SPEs increase Deutsche Telekom’s net debt.

 

 

 

 

 

 

 

124

 

Other IFRS differences

 

In general

 

The other differences primarily consist of the more extensive incorporation of derivatives as well as the cash collaterals included in other financial assets with regard to ABS transactions.

 

27



 

NEW Backup FY 2004.
DT under IFRS and in new structure.

 

Investor Relations, Bonn office

Phone

+49 228 181 - 8 88 80

Fax

+49 228 181 - 8 88 99

E-Mail

investor.relations@telekom.de

 

Investor Relations, New York office

Phone

+1 212 424 2926

Phone

+ 1 877 DT SHARE (toll-free)

Fax

+1 212 424 2986

E-Mail

investor.relations@usa.telekom.de

 

Check out our IR-website under www.telekom.de/investor-relations for

•  this backup in .pdf- and excel-format

•  the IR calendar 2005

•  detailed information for debt investors

•  shareholder structure

•  Corporate Governance

 



 

Content.

 

At a Glance

 

 

 

 

 

Group

 

 

Adjusted P&L

 

 

Unadjusted P&L

 

 

Special Influences in the P&L

 

 

Special Influences

 

 

Balance Sheet

 

 

Maturity Profile

 

 

Debt to net debt reconciliation

 

 

Liquidity reserves

 

 

Cash capex

 

 

Free cash flow

 

 

Personnel

 

 

Currency exchange rates

 

 

 

 

 

Broadband/Fixed Net

 

 

Financials

 

 

 

 

 

T-Mobile

 

 

Financials

 

 

Overview consumer data

 

 

Key operating and financial data per country

 

 

 

 

 

T-Systems

 

 

Financials

 

 

Enterprise and Business services

 

 

 

 

 

GHS

 

 

Financials

 

 

 

 

 

Glossary for Non-GAAP figures

 

 

 



 

At a Glance I.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadband/Fixedline

 

28,295

 

6,941

 

6,809

 

6,609

 

6,651

 

27,010

 

-4.5

%

T-Com

 

27,206

 

6,599

 

6,470

 

6,254

 

6,278

 

25,601

 

-5.9

%

T-Online

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

8.7

%

T-Mobile

 

24,198

 

6,272

 

6,649

 

6,914

 

6,692

 

26,527

 

9.6

%

T-Systems

 

12,937

 

3,075

 

3,272

 

3,169

 

3,441

 

12,957

 

0.2

%

GHS

 

3,271

 

866

 

882

 

887

 

891

 

3,526

 

7.8

%

Reconciliation

 

-13,198

 

-3,264

 

-3,235

 

-3,226

 

-2,935

 

-12,660

 

4.1

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadband/Fixedline

 

23,197

 

5,653

 

5,609

 

5,433

 

5,714

 

22,409

 

-3.4

%

T-Mobile

 

22,804

 

5,966

 

6,372

 

6,663

 

6,449

 

25,450

 

11.6

%

T-Systems

 

9,267

 

2,209

 

2,327

 

2,200

 

2,505

 

9,241

 

-0.3

%

GHS

 

235

 

64

 

67

 

56

 

73

 

260

 

10.6

%

Group

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

3.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA excluding special influences

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadband/Fixedline

 

10,408

 

2,592

 

2,577

 

2,495

 

2,509

 

10,173

 

-2.3

%

T-Com

 

10,120

 

2,490

 

2,440

 

2,359

 

2,434

 

9,723

 

-3.9

%

T-Online

 

315

 

118

 

129

 

136

 

81

 

464

 

47.3

%

T-Mobile

 

7,202

 

1,826

 

2,127

 

2,374

 

2,068

 

8,395

 

16.6

%

T-Systems

 

1,482

 

393

 

426

 

453

 

365

 

1,638

 

10.5

%

GHS

 

-503

 

-87

 

-165

 

-22

 

-274

 

-548

 

-8.9

%

Reconciliation

 

-17

 

-49

 

-42

 

-7

 

58

 

-41

 

-141.2

%

Group

 

18,572

 

4,675

 

4,923

 

5,293

 

4,726

 

19,617

 

5.6

%

 

Unaudited and preliminary Figures

 

3



 

At a Glance II.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

EBITDA Margin excluding special influences

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadband/Fixedline

 

36.8

%

37.3

%

37.8

%

37.8

%

37.7

%

37.7

%

2.4

%

T-Com

 

37.2

%

37.7

%

37.7

%

37.7

%

38.8

%

38.0

%

2.1

%

T-Online

 

17.0

%

24.1

%

25.9

%

28.0

%

15.1

%

23.1

%

35.5

%

T-Mobile

 

29.8

%

29.1

%

32.0

%

34.3

%

30.9

%

31.6

%

6.3

%

T-Systems

 

11.5

%

12.8

%

13.0

%

14.3

%

10.6

%

12.6

%

10.4

%

GHS

 

-15.4

%

-10.0

%

-18.7

%

-2.5

%

-30.8

%

-15.5

%

-1.1

%

Group

 

33.5

%

33.7

%

34.2

%

36.9

%

32.1

%

34.2

%

2.2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Capex

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

T-Mobile

 

3,313

 

826

 

766

 

696

 

790

 

3,078

 

-7.1

%

GHS

 

461

 

56

 

165

 

133

 

164

 

518

 

12.4

%

Group

 

6,362

 

1,353

 

1,575

 

1,480

 

2,002

 

6,410

 

0.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

excl. special influences

 

1,937

 

632

 

577

 

-1,359

 

1,714

 

1,564

 

-19.3

%

incl. Special influences

 

2,273

 

691

 

1,222

 

1,152

 

592

 

3,657

 

60.9

%

Free-Cash-Flow

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

before dividend

 

8,691

 

2,951

 

1,325

 

2,440

 

3,595

 

10,311

 

18.6

%

Net Debt (billion)

 

50,725

 

48,883

 

47,317

 

44,667

 

39,592

 

39,592

 

-21.9

%

 

Unaudited and preliminary Figures

 

4



 

DT-Group.

 

Content

 

 

 

 

 

Adjusted P&L

 

 

Unadjusted P&L

 

 

Special Influences in the P&L

 

 

Special Influences

 

 

EBITDA reconciliation

 

 

Balance Sheet

 

 

Maturity Profile

 

 

Debt to net debt reconciliation

 

 

Liquidity reserves

 

 

Cash capex

 

 

Free cash flow

 

 

Personnel

 

 

Currency exchange rates

 

 

 



 

Group P&L excluding special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Net revenue

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

3.3

%

Cost of Sales

 

-29,347

 

-7,219

 

-7,618

 

-7,514

 

-7,872

 

-30,223

 

3.0

%

Gross profit/loss from sales

 

26,156

 

6,671

 

6,759

 

6,839

 

6,868

 

27,137

 

3.8

%

Selling Costs

 

-12,742

 

-3,207

 

-3,072

 

-3,031

 

-3,503

 

-12,813

 

0.6

%

General administrative costs

 

-4,515

 

-1,034

 

-1,148

 

-1,002

 

-1,184

 

-4,368

 

-3.3

%

Other operating income

 

1,851

 

361

 

398

 

396

 

479

 

1,634

 

-11.7

%

Other operating expenses

 

-1,508

 

-306

 

-375

 

-331

 

-380

 

-1,392

 

-7.7

%

Operating results = EBIT

 

9,242

 

2,485

 

2,562

 

2,871

 

2,280

 

10,198

 

10.3

%

EBIT margin

 

16.7

%

17.9

%

17.8

%

20.0

%

15.5

%

17.8

%

1.1

%p

Financial income/expense, net

 

-4,878

 

-1,224

 

-788

 

-1,024

 

-937

 

-3,973

 

-18.6

%

of which: net interest expense

 

-3,880

 

-937

 

-919

 

-860

 

-780

 

-3,496

 

-9.9

%

Income before taxes = EBT

 

4,364

 

1,261

 

1,774

 

1,847

 

1,343

 

6,225

 

42.6

%

Income taxes

 

-1,634

 

-440

 

-430

 

-560

 

-657

 

-2,087

 

27.7

%

Income/loss after taxes

 

2,730

 

821

 

1,344

 

1,287

 

686

 

4,138

 

51.6

%

Income/losses applicable to minority
shareholders

 

-457

 

-130

 

-122

 

-135

 

-94

 

-481

 

5.3

%

Net income/loss

 

2,273

 

691

 

1,222

 

1,152

 

592

 

3,657

 

60.9

%

Depreciation and amortization

 

-9,330

 

-2,190

 

-2,361

 

-2,422

 

-2,446

 

-9,419

 

1.0

%

EBITDA

 

18,572

 

4,675

 

4,923

 

5,293

 

4,726

 

19,617

 

5.6

%

EBITDA margin

 

33.5

%

33.7

%

34.2

%

36.9

%

32.1

%

34.2

%

0.7

%p

 

Unaudited and preliminary Figures

 

6



 

Group P&L including special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Net revenue

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

3.3

%

Cost of Sales

 

-29,369

 

-7,219

 

-8,971

 

-7,515

 

-7,854

 

-31,559

 

7.5

%

Gross profit/loss from sales

 

26,134

 

6,671

 

5,406

 

6,838

 

6,886

 

25,801

 

-1.3

%

Selling Costs

 

-12,747

 

-3,207

 

-3,072

 

-3,032

 

-3,526

 

-12,837

 

0.7

%

General administrative costs

 

-4,596

 

-1,034

 

-1,148

 

-1,016

 

-1,307

 

-4,505

 

-2.0

%

Other operating income

 

2,359

 

361

 

473

 

405

 

479

 

1,718

 

-27.2

%

Other operating expenses

 

-2,765

 

-375

 

-375

 

-2,852

 

-314

 

-3,916

 

41.6

%

Operating results = EBIT

 

8,385

 

2,416

 

1,284

 

343

 

2,218

 

6,261

 

-25.3

%

EBIT margin

 

15.1

%

17.4

%

8.9

%

2.4

%

15.0

%

10.9

%

-4.2

%p

Financial income/expense, net

 

-4,247

 

-1,224

 

-696

 

-1,024

 

201

 

-2,743

 

-35.4

%

of which: net interest expense

 

-3,880

 

-937

 

-919

 

-860

 

-780

 

-3,496

 

-9.9

%

Income before taxes = EBT

 

4,138

 

1,192

 

588

 

-681

 

2,419

 

3,518

 

-15.0

%

Income taxes

 

-1,744

 

-430

 

111

 

-543

 

-666

 

-1,528

 

-12.4

%

Income/loss after taxes

 

2,394

 

762

 

699

 

-1,224

 

1,753

 

1,990

 

-16.9

%

Income/losses applicable to minority shareholders

 

-457

 

-130

 

-122

 

-135

 

-39

 

-426

 

-6.8

%

Net income/loss

 

1,937

 

632

 

577

 

-1,359

 

1,714

 

1,564

 

-19.3

%

Depreciation and amortization

 

-10,304

 

-2,190

 

-3,714

 

-4,850

 

-2,374

 

-13,128

 

27.4

%

EBITDA

 

18,689

 

4,606

 

4,998

 

5,193

 

4,592

 

19,389

 

3.7

%

EBITDA margin

 

33.7

%

33.2

%

34.8

%

36.2

%

31.2

%

33.8

%

0.1

%p

 

Unaudited and preliminary Figures

 

7



 

Special influences in Group P&L.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Net revenue

 

0

 

0

 

0

 

0

 

0

 

0

 

Cost of Sales

 

-22

 

0

 

-1,353

 

-1

 

18

 

-1,336

 

Gross profit/loss from sales

 

-22

 

0

 

-1,353

 

-1

 

18

 

-1,336

 

Selling Costs

 

-5

 

0

 

0

 

-1

 

-23

 

-24

 

General administrative costs

 

-81

 

0

 

0

 

-14

 

-123

 

-137

 

Other operating income

 

508

 

0

 

75

 

9

 

0

 

84

 

Other operating expenses

 

-1,257

 

-69

 

0

 

-2,521

 

66

 

-2,524

 

Operating results = EBIT

 

-857

 

-69

 

-1,278

 

-2,528

 

-62

 

-3,937

 

Financial income/expense, net

 

631

 

0

 

92

 

0

 

1,138

 

1,230

 

of which: net interest expense

 

0

 

0

 

0

 

0

 

0

 

0

 

Income before taxes = EBT

 

-226

 

-69

 

-1,186

 

-2,528

 

1,076

 

-2,707

 

Income taxes

 

-110

 

10

 

541

 

17

 

-9

 

559

 

Income/loss after taxes

 

-336

 

-59

 

-645

 

-2,511

 

1,067

 

-2,148

 

Income/losses applicable to minority
shareholders

 

0

 

0

 

0

 

0

 

55

 

55

 

Net income/loss

 

-336

 

-59

 

-645

 

-2,511

 

1,122

 

-2,093

 

Depreciation and amortization

 

-974

 

0

 

-1,353

 

-2,428

 

72

 

-3,709

 

EBITDA

 

117

 

-69

 

75

 

-100

 

-134

 

-228

 

 

Unaudited and preliminary Figures

 

 

8



 

Special influences I.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on Operating expenses

 

-1,365

 

-69

 

-1,353

 

-2,537

 

-62

 

-4,021

 

- of which unscheduled write-downs on FCC-licences and on goodwill of T-Mobile USA

 

-789

 

 

 

-1,353

 

 

 

92

 

-1,261

 

- of which unscheduled write-down on goodwill of T-Mobile UK

 

 

 

 

 

 

 

-2,225

 

 

 

-2,225

 

- of which restructuring charges and goodwill write-downs BB/FN CEE (MATÁV/ST/HT)

 

-251

 

 

 

 

 

-219

 

-146

 

-365

 

- of which losses from the disposal of Multilink and T-Systems CS AG

 

-58

 

 

 

 

 

 

 

 

 

 

 

- of which due to accruals for sale of cable

 

-159

 

 

 

 

 

 

 

-37

 

-37

 

- of which additional accruals for redundancy payments, personnel reduction and others

 

-108

 

-69

 

 

 

-93

 

29

 

-133

 

Effect on Other operating income

 

508

 

0

 

75

 

9

 

0

 

84

 

- of which sale of cable, Vergin Mobile, Telecash, Siris and cc-chemplorer

 

508

 

0

 

75

 

9

 

0

 

84

 

Effect on Operating Results = EBIT

 

-857

 

-69

 

-1,278

 

-2,528

 

-62

 

-3,937

 

Effect on EBITDA

 

117

 

-69

 

75

 

-100

 

-134

 

-228

 

 

Unaudited and preliminary Figures

 

 

9



 

Special influences II.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on Financial income

 

631

 

0

 

92

 

0

 

1138

 

1230

 

- of which sale of EUTELSAT, UMC, MTS, Celcom, SES, Inmarsat, Globe Telecom, cable

 

812

 

 

 

92

 

 

 

1138

 

1230

 

- of which write-up comdirect bank AG

 

40

 

 

 

 

 

 

 

 

 

 

 

- of which increased accruals for the health service of civil servants

 

-221

 

 

 

 

 

 

 

 

 

 

 

Effect on Income before taxes

 

-226

 

-69

 

-1,186

 

-2,528

 

1,076

 

-2,707

 

Effect on Tax

 

-110

 

10

 

541

 

17

 

-9

 

559

 

- of which from change in legal structure T-Mobile

 

466

 

 

 

 

 

 

 

 

 

 

 

- of which Sale of cable and MTS, accruals, valuation adjustment and others

 

-438

 

10

 

 

 

17

 

28

 

55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- of which effect of impairment on FCC-licences

 

 

 

 

 

541

 

 

 

-37

 

504

 

- of which effect of increased accruals for the health service of civil servants

 

-138

 

 

 

 

 

 

 

 

 

 

 

Effect on income/losses applicable to m inority shareholders: Redundancy payments T-Com CEE

 

 

 

 

 

 

 

 

 

55

 

55

 

Effect on Net incom e/(loss)

 

-336

 

-59

 

-645

 

-2,511

 

1,122

 

-2,093

 

 

 

Unaudited and preliminary Figures

 

10



 

EBITDA reconciliation in DT Group.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Net revenue

 

14,740

 

55,503

 

57,360

 

Operating Results = EBIT

 

2,218

 

8,385

 

6,261

 

-   Depreciation and amortization

 

-2,374

 

-10,304

 

-13,128

 

=  EBITDA

 

4,592

 

18,689

 

19,389

 

EBITDA margin [EBITDA/Net revenue]

 

31.2

%

33.7

%

33.8

%

-   Special influences affecting EBITDA

 

-134

 

117

 

-228

 

=  Adj. EBITDA

 

4,726

 

18,572

 

19,617

 

Adj. EBITDA margin [Adj. EBITDA/Net revenue]

 

32.1

%

33.5

%

34.2

%

 

Unaudited and preliminary Figures

 

 

11


 

Consolidated balance sheet.

Assets.

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta

 

Delta

 

€ billion(1)

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

Q4 vs. Q3

 

y.o.y.

 

Current assets

 

21.5

 

21.7

 

19.7

 

18.3

 

19.0

 

3.7

%

-11.7

%

Cash and cash equivalents

 

9.1

 

9.2

 

6.6

 

5.9

 

8.0

 

35.6

%

-11.7

%

Trade and other receivables

 

7.6

 

7.1

 

7.6

 

7.2

 

6.7

 

-6.2

%

-11.4

%

Current recoverable income taxes

 

1.0

 

0.5

 

0.4

 

0.3

 

0.3

 

0.0

%

-68.3

%

Other current financial assests

 

2.1

 

2.3

 

2.6

 

2.4

 

1.8

 

-25.2

%

-16.0

%

Inventories

 

1.0

 

1.1

 

1.2

 

1.4

 

1.2

 

-17.3

%

15.4

%

Other current assets

 

0.7

 

1.5

 

1.3

 

1.1

 

1.0

 

-14.0

%

39.6

%

Noncurrent assets

 

118.1

 

118.7

 

116.4

 

112.3

 

110.1

 

-2.0

%

-6.8

%

Intangible assets

 

55.4

 

56.9

 

55.5

 

52.3

 

50.7

 

-2.9

%

-8.4

%

Property, plant, and equipment

 

49.3

 

48.5

 

47.9

 

46.8

 

46.3

 

-1.1

%

-6.0

%

Equity-accounted financial assets

 

2.4

 

2.6

 

2.8

 

3.1

 

2.7

 

-13.7

%

11.1

%

Other noncurrent financial assets

 

1.4

 

1.3

 

1.0

 

0.9

 

1.7

 

82.0

%

19.9

%

Deferred tax assets

 

9.3

 

9.0

 

9.0

 

8.9

 

8.3

 

-6.6

%

-10.8

%

Other noncurrent assets

 

0.3

 

0.4

 

0.3

 

0.3

 

0.4

 

23.9

%

26.0

%

Total assets

 

139.6

 

140.3

 

136.1

 

130.6

 

129.1

 

-1.2

%

-7.6

%

 


(1) Calculated on the basis of exact figures.

 

Unaudited and preliminary Figures

 

12



 

Consolidated balance sheet.

Shareholders’ equity and liabilities.

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta

 

Delta

 

€ billion(1)

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

Q4 vs. Q3

 

y.o.y.

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

30.4

 

29.4

 

29.3

 

28.5

 

26.2

 

-8.2

%

-13.9

%

Current financial liabilities

 

18.9

 

18.5

 

18.6

 

17.8

 

14.1

 

-20.6

%

-25.3

%

Trade and other payables

 

6.4

 

5.4

 

5.3

 

5.0

 

6.1

 

23.1

%

-4.4

%

Income tax liabilities

 

0.2

 

0.4

 

0.5

 

0.6

 

0.7

 

24.8

%

257.5

%

Current provisions

 

3.4

 

3.4

 

3.2

 

3.5

 

3.7

 

4.3

%

8.8

%

Other current liabilities

 

1.5

 

1.6

 

1.7

 

1.7

 

1.5

 

-8.5

%

0.8

%

Noncurrent liabilities

 

65.4

 

65.3

 

60.5

 

57.4

 

57.0

 

-0.7

%

-12.8

%

Noncurrent financial liabilities

 

46.3

 

45.8

 

41.4

 

38.2

 

38.1

 

-0.1

%

-17.6

%

Provisions for pensions/employee benefits

 

4.2

 

4.2

 

4.3

 

4.3

 

4.2

 

-2.6

%

0.2

%

Other noncurrent provisions

 

2.6

 

2.7

 

2.9

 

2.9

 

3.1

 

7.4

%

18.3

%

Deferred tax liabilities

 

10.6

 

10.7

 

10.3

 

10.4

 

9.7

 

-6.8

%

-8.4

%

Other noncurrent liabilities

 

1.7

 

1.8

 

1.7

 

1.6

 

1.9

 

16.0

%

11.5

%

Shareholders’ equity

 

43.8

 

45.7

 

46.3

 

44.7

 

45.9

 

2.7

%

4.7

%

Issued capital

 

10.7

 

10.7

 

10.7

 

10.7

 

10.7

 

0.0

%

0.4

%

Capital reserves

 

49.5

 

49.5

 

49.5

 

49.5

 

49.5

 

0.0

%

0.0

%

Retained earnings incl. carryforwards

 

-19.6

 

-17.7

 

-17.7

 

-17.7

 

-17.7

 

-0.1

%

-9.8

%

Other comprehensive income

 

-2.9

 

-1.9

 

-1.9

 

-2.2

 

-2.7

 

19.5

%

-8.0

%

Consolidated net profit

 

1.9

 

0.6

 

1.2

 

-0.2

 

1.6

 

n.a.

 

-17.7

%

Subtotal

 

39.6

 

41.3

 

41.8

 

40.2

 

41.5

 

3.2

%

4.7

%

Minority interest

 

4.2

 

4.4

 

4.4

 

4.5

 

4.4

 

-2.3

%

4.6

%

Total liabilities and shareholder’s equity

 

139.6

 

140.3

 

136.1

 

130.6

 

129.1

 

-1.2

%

-7.6

%

 


(1) Calculated on the basis of exact figures.

 

 

Unaudited and preliminary Figures

 

13



 

Maturity profile.

 

Bonds and Medium Term Notes (MTN)

maturities as of December 2004 (€ billion)

 

 

For detailed information on Bonds, Medium Term Notes and the Convertible Bond such as

 

Principlal Amount

Currency

Coupon

Maturiy Date

ISIN Code

Documentation

 

check out our IR-website under „Debt market”.

 

Unaudited and preliminary Figures

 

 

14



 

Debt to net debt reconciliation.

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta

 

Delta

 

€ million

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

Q4 vs. Q3

 

y.o.y.

 

Bonds

 

51,164

 

49,997

 

46,559

 

43,347

 

39,458

 

-3,889

 

-11,706

 

Liabilities to banks

 

3,789

 

3,262

 

3,182

 

3,153

 

3,074

 

-79

 

-715

 

Liabilities to non-banks from promissory notes

 

756

 

769

 

755

 

718

 

651

 

-67

 

-105

 

Other financial liabilities

 

4,983

 

4,977

 

4,618

 

4,546

 

5,225

 

679

 

242

 

Gross debt under IFRS

 

60,692

 

59,005

 

55,114

 

51,764

 

48,408

 

 

 

 

 

Cash and cash equivalents

 

9,131

 

9,198

 

6,614

 

5,928

 

8,038

 

2,110

 

-1,093

 

Available-for-sale/Held-for-trading financial assets

 

137

 

151

 

676

 

636

 

120

 

-516

 

-17

 

Other financial assets

 

699

 

773

 

507

 

533

 

658

 

 

 

 

 

Net debt under IFRS

 

50,725

 

48,883

 

47,317

 

44,667

 

39,592

 

-5,075

 

-11,133

 

 

Unaudited and preliminary Figures

 

 

15



 

Cash Capex.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

T-Mobile

 

3,313

 

826

 

766

 

696

 

790

 

3,078

 

-7.1

%

GHS

 

461

 

56

 

165

 

133

 

164

 

518

 

12.4

%

Group

 

6,362

 

1,353

 

1,575

 

1,480

 

2,002

 

6,410

 

0.8

%

 

Unaudited and preliminary Figures

 

 

16



 

Free cash flow.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Net cash provided by operating activities

 

15,053

 

4,304

 

2,900

 

3,920

 

5,597

 

16,721

 

11.1

%

Cash out flows from investments in
- intangible assets

 

-1,141

 

-123

 

-232

 

-218

 

-471

 

-1,044

 

-8.5

%

 - property, plant, equipment

 

-5,221

 

-1,230

 

-1,343

 

-1,262

 

-1,531

 

-5,366

 

2.8

%

Free cash flow [before dividend]

 

8,691

 

2,951

 

1,325

 

2,440

 

3,595

 

10,311

 

18.6

%

 

 

 

Unaudited and preliminary Figures

 

17



 

Personnel(1).

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta y.o.y.

 

End of period

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

abs.

 

%

 

BBFN

 

118,640

 

114,345

 

114,991

 

116,379

 

114,083

 

-4,557

 

-3.8

%

T-Com

 

116,025

 

111,399

 

112,049

 

113,376

 

111,079

 

-4,946

 

-4.3

%

T-Online

 

2,615

 

2,946

 

2,942

 

3,003

 

3,004

 

389

 

14.9

%

T-Mobile

 

46,600

 

46,722

 

47,652

 

48,164

 

47,797

 

1,197

 

2.6

%

T-Systems

 

52,585

 

52,225

 

52,970

 

51,400

 

51,173

 

-1,412

 

-2.7

%

GHS

 

30,694

 

34,862

 

32,219

 

31,948

 

31,592

 

898

 

2.9

%

- of which Vivento(2)

 

15,500

 

19,500

 

19,200

 

18,600

 

18,300

 

2,800

 

18.1

%

DT Group

 

248,519

 

248,153

 

247,830

 

247,891

 

244,645

 

-3,874

 

-1.6

%

- of which civil servants

 

49,793

 

49,664

 

47,964

 

47,771

 

47,163

 

-2,630

 

-5.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta y.o.y.

 

Average

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

abs.

 

%

 

BBFN

 

128,065

 

114,748

 

114,861

 

116,549

 

115,010

 

115,292

 

-12,773

 

-10.0

%

T-Com

 

125,428

 

111,830

 

111,916

 

113,568

 

112,003

 

112,329

 

-13,099

 

-10.4

%

T-Online

 

2,637

 

2,918

 

2,945

 

2,981

 

3,007

 

2,963

 

326

 

12.3

%

T-Mobile

 

44,899

 

46,337

 

47,407

 

48,111

 

47,815

 

47,418

 

2,519

 

5.6

%

T-Systems

 

54,390

 

52,357

 

52,729

 

51,593

 

51,232

 

51,978

 

-2,412

 

-4.4

%

GHS

 

23,909

 

34,919

 

32,787

 

32,108

 

31,673

 

32,872

 

8,963

 

37.5

%

- of which Vivento(2)

 

8,300

 

19,600

 

19,000

 

18,900

 

18,400

 

19,000

 

10,700

 

128.9

%

DT Group

 

251,263

 

248,361

 

247,785

 

248,360

 

245,730

 

247,559

 

-3,704

 

-1.5

%

- of which civil servants

 

49,998

 

49,886

 

48,928

 

47,843

 

47,489

 

48,536

 

-1,461

 

-2.9

%

 


(1) Full-time employees: number of employees without trainees and students.

(2) Figures rounded; excluding permanent staff.

 

 

Unaudited and preliminary Figures

 

18



 

Exchange rates.

 

End of period.

 

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

1 US-Dollar (USD)

 

0.85573

 

0.79340

 

0.81793

 

0.82251

 

0.81077

 

1 British Pound (GBP)

 

1.43145

 

1.41663

 

1.50039

 

1.49010

 

1.45817

 

100 Czechs Koruna (CZK)

 

3.14179

 

3.08873

 

3.04442

 

3.14684

 

3.15847

 

100 Croatian Kuna (HRK)

 

13.25580

 

13.11000

 

13.37980

 

13.61490

 

13.19060

 

1000 Hungarian Forint (HUF)

 

3.92126

 

3.79407

 

4.01801

 

3.97789

 

4.04106

 

100 Slovak Krona (SKK)

 

2.42925

 

2.43000

 

2.49252

 

2.50784

 

2.49657

 

 

Average.

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

1 US-Dollar (USD)

 

0.84148

 

0.88492

 

0.79953

 

0.83033

 

0.81840

 

0.81580

 

1 British Pound (GBP)

 

1.43370

 

1.44585

 

1.46948

 

1.49879

 

1.48754

 

1.48508

 

100 Czechs Koruna (CZK)

 

3.11907

 

3.14101

 

3.04350

 

3.12105

 

3.16509

 

3.11073

 

100 Croatian Kuna (HRK)

 

13.10630

 

13.21220

 

13.14380

 

13.44700

 

13.52170

 

13.37200

 

1000 Hungarian Forint (HUF)

 

3.84949

 

3.94347

 

3.84654

 

3.97090

 

4.02139

 

3.94650

 

100 Slovak Krona (SKK)

 

2.42820

 

2.41004

 

2.46536

 

2.49514

 

2.49849

 

2.48648

 

 

 

Unaudited and preliminary Figures

 

19



 

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Notes.

 

 

 

Unaudited and preliminary Figures

 

20



 

Blank Page - left blank to optimize double-sided printout with 2 slides per page.

Notes.

 

 

 

 

Unaudited and preliminary Figures

 

21



 

Broadband/Fixed Net.

 

Content

 

 

 

Key figures adjusted for special influences

 

EBITDA reconciliation

 

Key figures unadjusted

 

Special influences

 

 

For further information on products, tariffs and divisional management see

www.t-com.de          www.t-online.net

 

 

Unaudited and preliminary Figures

 

22



 

Broadband/Fixed Net adjusted for special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

28,295

 

6,941

 

6,809

 

6,609

 

6,651

 

27,010

 

-4.5

%

- of which T-Com

 

27,206

 

6,599

 

6,470

 

6,254

 

6,278

 

25,601

 

-5.9

%

- of which T-Online

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

8.7

%

Net revenue

 

23,197

 

5,653

 

5,609

 

5,433

 

5,714

 

22,409

 

-3.4

%

Adjusted EBITDA

 

10,408

 

2,592

 

2,577

 

2,495

 

2,509

 

10,173

 

-2.3

%

- of which T-Com

 

10,120

 

2,490

 

2,440

 

2,359

 

2,434

 

9,723

 

-3.9

%

- of which T-Online

 

315

 

118

 

129

 

136

 

81

 

464

 

47.3

%

Adjusted EBITDA margin

 

36.8

%

37.3

%

37.8

%

37.8

%

37.7

%

37.7

%

0.9

%p

Depreciation and amortization

 

-4,747

 

-1,082

 

-1,122

 

-1,181

 

-1,023

 

-4,408

 

-7.1

%

Financial income/ expense, net(1)

 

-15

 

261

 

20

 

49

 

149

 

479

 

 

 

Income before taxes = EBT

 

5,609

 

1,771

 

1,475

 

1,513

 

1,655

 

6,414

 

14.4

%

 


(1) The at-equity consolidated stake in Toll Collect has been shifted from T-Com to T-Systems [Q2/2004: 1st of April]. Previous quarters have been adjusted.

 

 

Unaudited and preliminary Figures

 

23



 

EBITDA reconciliation in Broadband/Fixed Net.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Total revenue

 

6,651

 

28,295

 

27,010

 

Results from ordinary business activities

 

1,466

 

5,606

 

6,024

 

-

Financial income/ expense, net(1)

 

149

 

-15

 

479

 

-

Depreciation and amortization

 

-1,023

 

-4,747

 

-4,408

 

=

EBITDA

 

2,340

 

10,368

 

9,953

 

 

EBITDA margin

 

35.2

%

36.6

%

36.8

%

-

Special Factors affecting EBITDA

 

-169

 

-40

 

-220

 

=

Adj. EBITDA

 

2,509

 

10,408

 

10,173

 

 

Adj. EBITDA margin

 

37.7

%

36.8

%

37.7

%

 


(1) The at-equity consolidated stake in Toll Collect has been shifted from T-Com to T-Systems [Q2/2004: 1st of April]. Previous quarters have been adjusted.

 

 

Unaudited and preliminary Figures

 

24



 

Broadband/Fixed Net unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

28,295

 

6,941

 

6,809

 

6,609

 

6,651

 

27,010

 

-4.5

%

- of which T-Com

 

27,206

 

6,599

 

6,470

 

6,254

 

6,278

 

25,601

 

-5.9

%

- of which T-Online

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

8.7

%

Net revenue

 

23,197

 

5,653

 

5,609

 

5,433

 

5,714

 

22,409

 

-3.4

%

EBITDA

 

10,368

 

2,559

 

2,577

 

2,477

 

2,340

 

9,953

 

-4.0

%

- of which T-Com

 

10,080

 

2,457

 

2,440

 

2,342

 

2,265

 

9,504

 

-5.7

%

- of which T-Online

 

339

 

118

 

129

 

135

 

81

 

463

 

36.6

%

EBITDA margin

 

36.6

%

36.9

%

37.8

%

37.5

%

35.2

%

36.8

%

0.2

%p

Depreciation and amortization

 

-4,674

 

-1,082

 

-1,122

 

-1,031

 

-1,003

 

-4,238

 

-9.3

%

Financial income/ expense, net1

 

-125

 

261

 

20

 

49

 

149

 

479

 

n.m.

 

Income before taxes = EBT

 

5,606

 

1,738

 

1,475

 

1,345

 

1,466

 

6,024

 

7.5

%

 


(1) The at-equity consolidated stake in Toll Collect has been shifted from T-Com to T-Systems [Q2/2004: 1st of April]. Previous quarters have been adjusted.

 

 

Unaudited and preliminary Figures

 

25



 

Special influences affecting Broadband/Fixed Net.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on EBITDA

 

-40

 

-33

 

0

 

-18

 

-169

 

-220

 

- of which book gain sale of cable

 

383

 

 

 

 

 

 

 

 

 

 

 

- of which charges on sale of cable

 

-159

 

 

 

 

 

 

 

-37

 

-37

 

- Accruals for personnel reductions

 

-77

 

 

 

 

 

 

 

 

 

 

 

- Additional minimum liability

 

 

 

 

 

 

 

 

 

 

 

 

 

- Transfer payments to Vivento

 

-121

 

 

 

 

 

-2

 

 

 

-2

 

- Accruals for redundancy payments

 

 

 

-33

 

 

 

 

 

 

 

-33

 

- Restructuring of MATÁV, HT, ST

 

-66

 

 

 

 

 

-16

 

-132

 

-148

 

Effect on Incom e before taxes = EBT

 

-3

 

-33

 

0

 

-168

 

-189

 

-390

 

- of which book gain sale of cable Baden-Wuerttem.

 

70

 

 

 

 

 

 

 

 

 

 

 

- of which write-up of comdirect bank AG

 

40

 

 

 

 

 

 

 

 

 

 

 

- of which Goodwill Impairment MATÁV

 

-73

 

 

 

 

 

 

 

 

 

 

 

- of which Goodwill Impairment ST

 

 

 

 

 

 

 

-150

 

 

 

-150

 

- of which write-down of HT brand name

 

 

 

 

 

 

 

 

 

-14

 

-14

 

- of which write-down of daybyday

 

 

 

 

 

 

 

 

 

-6

 

-6

 

 

 

Unaudited and preliminary Figures

 

26



 

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Notes.

 

 

 

 

 

Unaudited and preliminary Figures

 

27



 

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Notes.

 

 

 

 

 

 

Unaudited and preliminary Figures

 

28



 

Blank Page - left blank to optimize double-sided printout with 2 slides per page.

 

Notes.

 

 

 

 

 

 

Unaudited and preliminary Figures

 

29



 

T-Mobile.

 

Content

 

Key figures adjusted for special influences

 

EBITDA reconciliation

 

Key figures unadjusted

 

Special influences

 

Overview customer data

 

Germany: Operating and financial details

 

UK: Operating and financial details

 

Austria: Operating and financial details

 

Czech Republic: Operating and financial details

 

Netherlands: Operating and financial details

 

Hungary: Operating and financial details

 

Croatia: Operating and financial details

 

Slovakia “Eurotel”: Operating and financial details

 

Macedonia “Mobimak”: Operating and financial details

 

USA: Operating and financial details

 

 

For further information on products, tariffs and divisional management see

www.t-mobile-international.de

 



 

T-Mobile segment adjusted for special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

24,198

 

6,272

 

6,649

 

6,914

 

6,692

 

26,527

 

9.6

%

Net revenue

 

22,804

 

5,966

 

6,372

 

6,663

 

6,449

 

25,450

 

11.6

%

ARPU revenue

 

20,675

 

5,356

 

5,792

 

5,996

 

5,784

 

22,928

 

10.9

%

EBITDA

 

7,202

 

1,826

 

2,127

 

2,374

 

2,068

 

8,395

 

16.6

%

EBITDA margin (total revenues)

 

29.8

%

29.1

%

32.0

%

34.3

%

30.9

%

31.6

%

1.9

%p

EBITDA margin (ARPU revenues)

 

34.8

%

34.1

%

36.7

%

39.6

%

35.8

%

36.6

%

1.8

%p

Depreciation and amortization

 

-2,867

 

-685

 

-813

 

-937

 

-979

 

-3,414

 

-19.1

%

Financial income/ expense, net

 

-830

 

-274

 

-94

 

-224

 

-295

 

-887

 

-6.9

%

Income before taxes = EBT

 

3,505

 

867

 

1,220

 

1,213

 

794

 

4,094

 

16.8

%

Cash Capex

 

3,313

 

826

 

766

 

696

 

790

 

3,078

 

-7.1

%

Cash Contribution(1)

 

3,889

 

1,000

 

1,361

 

1,678

 

1,278

 

5,317

 

36.7

%

 


(1) Defined as adj. EBITDA - Cash Capex

 

 

Unaudited and preliminary Figures

 

30



 

 

EBITDA reconciliation in T-Mobile segment.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Total revenue

 

6,692

 

24,198

 

26,527

 

Incom e before taxes = EBT

 

1,842

 

2,969

 

1,581

 

-

Financial income/expense, net

 

663

 

-465

 

71

 

-

Depreciation and amortization

 

-887

 

-3,768

 

-6,953

 

=

EBITDA

 

2,066

 

7,202

 

8,463

 

 

EBITDA margin

 

30.9

%

29.8

%

31.9

%

-

Special influences affecting EBITDA

 

-2

 

0

 

68

 

=

Adj. EBITDA

 

2,068

 

7,202

 

8,395

 

 

Adj. EBITDA margin

 

30.9

%

29.8

%

31.6

%

 

 

Unaudited and preliminary Figures

 

31



 

T-Mobile segment unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

24,198

 

6,272

 

6,649

 

6,914

 

6,692

 

26,527

 

9.6

%

Net revenue

 

22,804

 

5,966

 

6,372

 

6,663

 

6,449

 

25,450

 

11.6

%

EBITDA

 

7,202

 

1,826

 

2,202

 

2,369

 

2,066

 

8,463

 

17.5

%

EBITDA margin

 

29.8

%

29.1

%

33.1

%

34.3

%

30.9

%

31.9

%

2.1

%p

Depreciation and amortization

 

-3,768

 

-685

 

-2,166

 

-3,215

 

-887

 

-6,953

 

-84.5

%

Financial income/ expense, net

 

-465

 

-274

 

-94

 

-224

 

663

 

71

 

n.a.

 

Income before taxes = EBT

 

2,969

 

867

 

-58

 

-1,070

 

1,842

 

1,581

 

-46.7

%

 

 

Unaudited and preliminary Figures

 

32



 

Special influences affecting T-Mobile segment.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effects on EBITDA

 

0

 

0

 

75

 

-5

 

-2

 

68

 

- of which subsequent proceeds from sale of Virgin Mobile

 

 

 

 

 

75

 

 

 

 

 

75

 

- of which PSA Vivento

 

 

 

 

 

 

 

-5

 

-2

 

-7

 

Effects on Income before taxes = EBT

 

-536

 

0

 

-1,278

 

-2,283

 

1,048

 

-2,513

 

- of which gain on sale of MTS

 

365

 

 

 

 

 

 

 

958

 

958

 

- of which Goodwill Impairment TMUS

 

-789

 

 

 

 

 

 

 

 

 

0

 

- of which Goodwill Impairment TMH

 

-101

 

 

 

 

 

 

 

 

 

0

 

- of which Goodwill Impairment MOBIMAK

 

-11

 

 

 

 

 

 

 

 

 

0

 

- of which Impairment of FCC licenses

 

 

 

 

 

-1,353

 

 

 

92

 

-1,261

 

- of which Goodwill Impairment TMUK

 

 

 

 

 

 

 

-2,225

 

 

 

-2,225

 

- of which Goodwill Impairment EuroTel

 

 

 

 

 

 

 

-53

 

 

 

-53

 

 

 

 

Unaudited and preliminary Figures

 

33



 

T-Mobile segment.

Customer data.

 

‘000 (end of period)

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Western Europe

 

43,987

 

45,145

 

46,197

 

46,822

 

47,500

 

47,500

 

8.0

%

- of which: Germany

 

26,333

 

26,681

 

27,059

 

27,358

 

27,471

 

27,471

 

4.3

%

- of which: United Kingdom(1)

 

13,636

 

14,343

 

14,899

 

15,207

 

15,726

 

15,726

 

15.3

%

- of which: Netherlands

 

1,987

 

2,109

 

2,224

 

2,253

 

2,261

 

2,261

 

13.8

%

- of which: Austria

 

2,031

 

2,012

 

2,015

 

2,004

 

2,042

 

2,042

 

0.5

%

CE Europe

 

9,577

 

9,748

 

9,991

 

10,240

 

10,678

 

10,678

 

11.5

%

- of which: Czech Republic

 

3,947

 

3,991

 

4,075

 

4,130

 

4,360

 

4,360

 

10.5

%

- of which: Hungary

 

3,766

 

3,838

 

3,913

 

3,989

 

4,032

 

4,032

 

7.1

%

- of which: Slovakia(2)

 

1,613

 

1,685

 

1,740

 

1,807

 

1,915

 

1,915

 

18.7

%

- of which: Croatia

 

1,340

 

1,354

 

1,380

 

1,428

 

1,534

 

1,534

 

14.5

%

- of which: Macedonia

 

524

 

565

 

623

 

693

 

752

 

752

 

43.5

%

USA

 

13,128

 

14,303

 

15,394

 

16,295

 

17,314

 

17,314

 

31.9

%

Total(1)

 

66,692

 

69,197

 

71,582

 

73,358

 

75,492

 

75,492

 

13.2

%

- of which Contract Customers

 

31,023

 

32,534

 

33,985

 

35,326

 

36,556

 

36,556

 

17.8

%

% of total(1)

 

46.5

%

47.0

%

47.5

%

48.2

%

48.4

%

48.4

%

4.1

%

PTC Poland(3)

 

6,211

 

6,857

 

7,518

 

8,051

 

8,629

 

8,629

 

38.9

%

 


(1) Including Virgin Mobile

(2) To be fully consolidated and accounted for as of Q1/05

(3) Not fully consolidated

 

 

Unaudited and preliminary Figures

 

35



 

T-Mobile Germany (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

26,333

 

26,681

 

27,059

 

27,358

 

27,471

 

27,471

 

4.3

%

- Contract

 

12,569

 

12,763

 

13,005

 

13,333

 

13,492

 

13,492

 

7.3

%

- Prepay

 

13,764

 

13,918

 

14,054

 

14,025

 

13,979

 

13,979

 

1.6

%

Net adds

 

1,752

 

348

 

378

 

299

 

113

 

1,138

 

-35.0

%

- Contract

 

1,054

 

194

 

242

 

328

 

159

 

923

 

-12.4

%

- Prepay

 

697

 

154

 

136

 

-29

 

-46

 

215

 

-69.2

%

Average monthly churn

 

1.4

%

1.4

%

1.4

%

1.5

%

1.6

%

1.5

%

0.1

%p

- Contract

 

1.4

%

1.2

%

1.0

%

1.1

%

1.3

%

1.1

%

-0.3

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

8,479

 

2,120

 

2,179

 

2,261

 

2,185

 

8,745

 

3.1

%

ARPU Revenue (million)

 

7,498

 

1,838

 

1,901

 

1,987

 

1,930

 

7,656

 

2.1

%

Adj. EBITDA (million)

 

3,675

 

803

 

880

 

958

(1)

999

(1)

3,640

 

-1.0

%

EBITDA margin (total rev.)

 

43.3

%

37.9

%

40.4

%

42.4

%

45.7

%

41.6

%

-1.7

%p

EBITDA margin (ARPU rev.)

 

49.0

%

43.7

%

46.3

%

48.2

%

51.8

%

47.5

%

-1.5

%p

SAC

 

93

 

94

 

100

 

112

 

100

 

101

 

8.6

%

- Contract

 

156

 

162

 

174

 

171

 

178

 

172

 

10.3

%

- Prepay

 

27

 

34

 

41

 

41

 

19

 

34

 

25.9

%

ARPU

 

25

 

23

 

24

 

24

 

24

 

24

 

-4.0

%

- Contract

 

41

 

38

 

39

 

40

 

39

 

39

 

-4.9

%

- Prepay

 

10

 

9

 

10

 

10

 

9

 

9

 

-10.0

%

Non-Voice % of ARPU

 

17

%

18

%

17

%

17

%

17

%

17

%

0

%p

Cash Capex (million)

 

548

 

111

 

166

 

98

 

106

 

481

 

-12.2

%

Adj. Cash Contribution
(million)(1),(2)

 

3,127

 

692

 

714

 

860

 

893

 

3,159

 

1.0

%

 


(1) special factor affecting EBITDA: Vivento transfer payment (EUR 5 million in Q3/04 and EUR 2 million in Q4/04)

(2) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

36



 

T-Mobile UK (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers(1) (end of period)

 

13,636

 

14,343

 

14,899

 

15,207

 

15,726

 

15,726

 

15.3

%

- Contract

 

2,684

 

2,743

 

2,858

 

2,940

 

2,997

 

2,997

 

11.7

%

- Prepay(1)

 

10,952

 

11,600

 

12,041

 

12,267

 

12,728

 

12,728

 

16.2

%

Net adds(1)

 

1,190

 

707

 

556

 

308

 

519

 

2,090

 

75.6

%

- Contract

 

436

 

59

 

114

 

83

 

57

 

313

 

-28.2

%

- Prepay(1)

 

754

 

648

 

441

 

225

 

462

 

1,776

 

135.5

%

Average monthly churn

 

2.9

%

1.2

%

1.9

%

2.5

%

3.0

%

2.2

%

-0.7

%p

- Contract

 

2.3

%

2.7

%

2.5

%

2.7

%

2.9

%

2.7

%

0.4

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

4,312

 

1,133

 

1,108

 

1,106

 

997

(3)

4,344

 

0.7

%

ARPU Revenue (million)

 

3,476

 

942

 

967

 

947

 

853

 

3,709

 

6.7

%

Adj. EBITDA (million)(2)

 

1,073

 

384

 

369

(2)

390

 

237

 

1,380

 

28.6

%

Adj. EBITDA margin (total rev.)

 

24.9

%

33.9

%

33.3

%

35.3

%

23.8

%

31.8

%

6.9

%p

Adj. EBITDA margin (ARPU rev.)

 

30.9

%

40.8

%

38.2

%

41.2

%

27.8

%

37.2

%

6.3

%p

SAC

 

133

 

143

 

136

 

107

 

104

 

122

 

-8.3

%

- Contract

 

330

 

325

 

289

 

214

 

254

 

269

 

-18.5

%

- Prepay

 

32

 

43

 

39

 

35

 

36

 

38

 

18.8

%

ARPU

 

30

 

31

 

31

 

30

 

27

 

29

 

-3.3

%

- Contract

 

64

 

66

 

68

 

66

 

58

 

64

 

0.0

%

- Prepay

 

19

 

18

 

17

 

16

 

15

 

17

 

-10.5

%

Non-Voice % of ARPU

 

16

%

17

%

17

%

17

%

18

%

17

%

1

%p

Cash Capex (million)

 

385

 

43

 

74

 

64

 

62

 

243

 

-36.9

%

Adj. Cash Contribution
(million)(2),(4)

 

688

 

341

 

295

 

326

 

175

 

1,137

 

65.3

%

 


(1) Including Virgin Mobile

(2) Special factor affecting EBITDA: Subsequent proceeds from sale of Virgin Mobile EUR 75 million.

(3) Cut in Mobile Termination Rates in September 2004.

(4) Defined as adj. EBITDA minus Cash Capex.

 

 

Unaudited and preliminary Figures

 

37



 

T-Mobile Austria (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

2,031

 

2,012

 

2,015

 

2,004

 

2,042

 

2,042

 

0.5

%

- Contract

 

950

 

941

 

946

 

950

 

985

 

985

 

3.7

%

- Prepay

 

1,081

 

1,071

 

1,069

 

1,054

 

1,058

 

1,058

 

-2.1

%

Net adds

 

-5

 

-18

 

3

 

-10

 

38

 

12

 

n.a.

 

- Contract

 

21

 

-9

 

5

 

4

 

34

 

34

 

61.9

%

- Prepay

 

-27

 

-10

 

-2

 

-14

 

4

 

-23

 

14.8

%

Average monthly churn

 

1.7

%

2.0

%

1.8

%

1.7

%

1.8

%

1.8

%

0.1

%p

- Contract

 

1.3

%

1.9

%

1.3

%

1.1

%

1.2

%

1.4

%

0.1

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)(1)

 

1,098

 

235

 

210

 

221

 

216

 

882

 

-19.7

%

ARPU Revenue (million)

 

846

 

212

 

201

 

207

 

200

 

820

 

-3.1

%

EBITDA (million)

 

346

 

55

 

51

 

66

 

68

 

240

 

-30.6

%

EBITDA margin (total rev.)

 

31.5

%

23.4

%

24.3

%

29.9

%

31.5

%

27.2

%

-4.3

%p

EBITDA margin (ARPU rev.)

 

40.9

%

25.9

%

25.4

%

31.9

%

34.0

%

29.3

%

-11.6

%p

SAC

 

121

 

155

 

134

 

102

 

137

 

133

 

9.9

%

- Contract

 

211

 

251

 

242

 

203

 

231

 

233

 

10.4

%

- Prepay

 

41

 

52

 

58

 

33

 

45

 

47

 

14.6

%

ARPU

 

35

 

35

 

33

 

34

 

33

 

34

 

-2.9

%

- Contract

 

61

 

62

 

58

 

60

 

57

 

59

 

-3.3

%

- Prepay

 

12

 

11

 

11

 

12

 

11

 

11

 

-8.3

%

Non-Voice % of ARPU

 

9

%

9

%

9

%

9

%

10

%

9

%

0

%p

Cash Capex (million)

 

128

 

25

 

20

 

47

 

39

 

131

 

2.3

%

Cash Contribution (million)(2)

 

218

 

30

 

31

 

19

 

29

 

109

 

-50.0

%

 


(1) Stake in Niedermeyer was sold with effect starting from January 1, 2004

(2) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

38



 

T-Mobile CZ (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

3,947

 

3,991

 

4,075

 

4,130

 

4,360

 

4,360

 

10.5

%

- Contract

 

889

 

947

 

1,003

 

1,050

 

1,105

 

1,105

 

24.3

%

- Prepay

 

3,058

 

3,044

 

3,072

 

3,080

 

3,255

 

3,255

 

6.4

%

Net adds

 

438

 

43

 

84

 

55

 

230

 

413

 

-5.7

%

- Contract

 

218

 

58

 

56

 

47

 

55

 

216

 

-0.9

%

- Prepay

 

220

 

-15

 

28

 

8

 

175

 

197

 

-10.5

%

Average monthly churn

 

1.0

%

1.1

%

0.9

%

1.0

%

0.9

%

1.0

%

0.0

%p

- Contract

 

0.5

%

0.6

%

0.6

%

0.5

%

0.7

%

0.6

%

0.1

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

757

 

186

 

203

 

213

 

225

 

827

 

9.2

%

ARPU Revenue (million)

 

707

 

173

 

194

 

202

 

204

 

773

 

9.3

%

EBITDA (million)

 

340

 

86

 

90

 

102

 

86

 

364

 

7.1

%

EBITDA margin (total rev.)

 

44.9

%

46.2

%

44.3

%

47.9

%

38.2

%

44.0

%

-0.9

%p

EBITDA margin (ARPU rev.)

 

48.1

%

49.7

%

46.4

%

50.5

%

42.2

%

47.1

%

-1.0

%p

SAC

 

32

 

27

 

33

 

32

 

16

 

25

 

-21.9

%

- Contract

 

83

 

65

 

70

 

75

 

60

 

67

 

-19.3

%

- Prepay

 

18

 

11

 

18

 

15

 

6

 

11

 

-38.9

%

ARPU

 

16

 

15

 

16

 

16

 

16

 

16

 

0.0

%

- Contract

 

40

 

37

 

39

 

39

 

39

 

39

 

-2.5

%

- Prepay

 

10

 

8

 

9

 

9

 

8

 

8

 

-20.0

%

Non-Voice % of ARPU

 

20

%

20

%

19

%

20

%

20

%

20

%

0

%p

Cash Capex (million)

 

89

 

33

 

6

 

15

 

16

 

70

 

-21.3

%

Cash Contribution (million)(1)

 

251

 

53

 

84

 

87

 

70

 

294

 

17.1

%

 


(1) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

39



 

T-Mobile Netherlands (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

1,987

 

2,109

 

2,224

 

2,253

 

2,261

 

2,261

 

13.8

%

- Contract

 

901

 

986

 

1,033

 

1,032

 

1,053

 

1,053

 

16.9

%

- Prepay

 

1,085

 

1,123

 

1,190

 

1,221

 

1,208

 

1,208

 

11.3

%

Net adds

 

550

 

123

 

114

 

29

 

8

 

274

 

-50.2

%

- Contract

 

258

 

85

 

47

 

-2

 

21

 

151

 

-41.5

%

- Prepay

 

292

 

38

 

67

 

31

 

-13

 

123

 

-57.9

%

Average monthly churn

 

2.6

%

2.3

%

2.1

%

2.3

%

3.0

%

2.4

%

-0.2

%p

- Contract

 

1.6

%

1.8

%

1.4

%

1.7

%

2.1

%

1.7

%

0.1

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

860

 

250

 

267

 

270

 

259

 

1,046

 

21.6

%

ARPU Revenue (million)

 

783

 

217

 

239

 

250

 

242

 

948

 

21.1

%

EBITDA (million)

 

62

 

3

 

37

 

58

 

46

 

144

 

132.3

%

EBITDA margin (total rev.)

 

7.2

%

1.2

%

13.9

%

21.5

%

17.8

%

13.8

%

6.6

%p

EBITDA margin (ARPU rev.)

 

7.9

%

1.4

%

15.5

%

23.2

%

19.0

%

15.2

%

7.3

%p

SAC

 

146

 

237

 

164

 

114

 

186

 

180

 

23.3

%

- Contract

 

316

 

393

 

366

 

314

 

432

 

384

 

21.5

%

- Prepay

 

42

 

77

 

55

 

39

 

30

 

51

 

21.4

%

ARPU

 

38

 

35

 

37

 

37

 

36

 

36

 

-5.3

%

- Contract

 

66

 

62

 

65

 

67

 

65

 

65

 

-1.5

%

- Prepay

 

14

 

12

 

12

 

12

 

11

 

12

 

-14.3

%

Non-Voice % of ARPU

 

13

%

13

%

13

%

13

%

13

%

13

%

0

%p

Cash Capex (million)

 

161

 

15

 

17

 

26

 

50

 

108

 

-32.9

%

Cash Contribution (million)(1)

 

-99

 

-12

 

20

 

32

 

-4

 

36

 

n.a.

 

 


(1) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

40



 

T-Mobile Hungary (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

3,766

 

3,838

 

3,913

 

3,989

 

4,032

 

4,032

 

7.1

%

- Contract

 

982

 

1,012

 

1,053

 

1,112

 

1,163

 

1,163

 

18.4

%

- Prepay

 

2,784

 

2,826

 

2,860

 

2,877

 

2,869

 

2,869

 

3.1

%

Net adds

 

363

 

72

 

75

 

76

 

43

 

266

 

-26.7

%

- Contract

 

131

 

30

 

41

 

59

 

51

 

181

 

38.2

%

- Prepay

 

232

 

42

 

35

 

17

 

-9

 

85

 

-63.4

%

Average monthly churn

 

1.6

%

0.8

%

1.0

%

1.7

%

1.8

%

1.3

%

-0.3

%p

- Contract

 

1.0

%

0.9

%

0.9

%

1.1

%

1.0

%

1.0

%

0.0

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

999

 

235

 

266

 

274

 

274

 

1,049

 

5.0

%

ARPU Revenue (million)

 

899

 

215

 

237

 

244

 

245

 

941

 

4.7

%

EBITDA (million)

 

374

 

97

 

111

 

99

 

106

 

413

 

10.4

%

EBITDA margin (total rev.)

 

37.4

%

41.3

%

41.7

%

36.1

%

38.7

%

39.4

%

2.0

%p

EBITDA margin (ARPU rev.)

 

41.6

%

45.1

%

46.8

%

40.6

%

43.3

%

43.9

%

2.3

%p

SAC

 

49

 

40

 

42

 

48

 

37

 

42

 

-14.3

%

- Contract

 

81

 

75

 

73

 

85

 

71

 

76

 

-6.2

%

- Prepay

 

41

 

25

 

29

 

35

 

25

 

29

 

-29.3

%

ARPU

 

21

 

19

 

20

 

20

 

21

 

20

 

-4.8

%

- Contract

 

53

 

47

 

50

 

49

 

48

 

49

 

-7.5

%

- Prepay

 

11

 

9

 

10

 

10

 

10

 

9

 

-18.2

%

Non-Voice % of ARPU

 

11

%

12

%

11

%

12

%

13

%

12

%

1

%p

Cash Capex (million)

 

147

 

32

 

36

 

20

 

28

 

116

 

-21.1

%

Cash Contribution (million)(1)

 

227

 

65

 

75

 

79

 

78

 

297

 

30.8

%

 


(1) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

41



 

T-Mobile Croatia (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

1,340

 

1,354

 

1,380

 

1,428

 

1,534

 

1,534

 

14.5

%

- Contract

 

253

 

254

 

261

 

267

 

300

 

300

 

18.6

%

- Prepay

 

1,088

 

1,100

 

1,119

 

1,161

 

1,234

 

1,234

 

13.4

%

Net adds

 

98

 

14

 

26

 

49

 

105

 

194

 

98.0

%

- Contract

 

18

 

2

 

7

 

7

 

33

 

48

 

166.7

%

- Prepay

 

80

 

12

 

19

 

42

 

73

 

146

 

82.5

%

Average monthly churn

 

1.7

%

1.4

%

1.2

%

0.8

%

0.9

%

1.1

%

-0.6

%p

- Contract

 

2.3

%

2.0

%

1.6

%

1.2

%

1.1

%

1.4

%

-0.9

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

377

 

89

 

106

 

136

 

105

 

436

 

15.6

%

ARPU Revenue (million)

 

350

 

84

 

98

 

129

 

95

 

406

 

16.0

%

EBITDA (million)

 

160

 

37

 

50

 

79

 

27

 

193

 

20.6

%

EBITDA margin (total rev.)

 

42.4

%

41.6

%

47.2

%

58.1

%

25.7

%

44.3

%

1.9

%p

EBITDA margin (ARPU rev.)

 

45.7

%

44.0

%

51.0

%

61.2

%

28.4

%

47.5

%

1.8

%p

SAC

 

53

 

57

 

64

 

51

 

96

 

72

 

35.8

%

- Contract

 

58

 

105

 

115

 

79

 

158

 

126

 

117.2

%

- Prepay

 

52

 

41

 

47

 

45

 

71

 

54

 

3.8

%

ARPU

 

22

 

21

 

24

 

31

 

21

 

24

 

9.1

%

- Contract

 

72

 

59

 

71

 

104

 

60

 

73

 

1.4

%

- Prepay

 

11

 

12

 

13

 

14

 

12

 

13

 

18.2

%

Non-Voice % of ARPU

 

13

%

17

%

15

%

12

%

17

%

15

%

2

%p

Cash Capex (million)

 

55

 

4

 

15

 

4

 

15

 

38

 

-30.9

%

Cash Contribution (million)(1)

 

105

 

33

 

35

 

75

 

12

 

155

 

47.6

%

 


(1) Defined as adj. EBITDA minus Cash Capex

 

 

 

Unaudited and preliminary Figures

 

42



 

Eurotel, Slovakia (IFRS)(1)

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

1,613

 

1,685

 

1,740

 

1,807

 

1,915

 

1,915

 

18.7

%

- Contract

 

460

 

490

 

517

 

563

 

647

 

647

 

40.7

%

- Prepay

 

1,154

 

1,195

 

1,223

 

1,244

 

1,267

 

1,267

 

9.8

%

Net adds

 

315

 

71

 

56

 

67

 

108

 

301

 

-4.4

%

- Contract

 

153

 

30

 

27

 

46

 

84

 

188

 

22.9

%

- Prepay

 

162

 

41

 

28

 

21

 

23

 

113

 

-30.2

%

Average monthly churn

 

1.3

%

1.4

%

1.2

%

1.4

%

1.6

%

1.4

%

0.1

%p

- Contract

 

0.9

%

0.8

%

0.9

%

0.8

%

1.0

%

0.9

%

0.0

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

271

 

75

 

80

 

85

 

91

 

332

 

22.5

%

ARPU Revenue (million)

 

240

 

68

 

73

 

79

 

83

 

303

 

26.3

%

EBITDA (million)

 

107

 

32

 

34

 

34

 

23

 

123

 

15.0

%

EBITDA margin (total rev.)

 

39.6

%

43.0

%

42.0

%

39.8

%

25.1

%

37.0

%

-2.6

%p

EBITDA margin (ARPU rev.)

 

44.7

%

47.1

%

46.1

%

43.1

%

27.7

%

40.5

%

-4.2

%p

SAC

 

33

 

28

 

28

 

35

 

41

 

34

 

3.0

%

- Contract

 

109

 

99

 

116

 

141

 

120

 

119

 

9.2

%

- Prepay

 

7

 

5

 

6

 

6

 

8

 

6

 

-14.3

%

ARPU

 

14

 

14

 

14

 

15

 

15

 

14

 

0.0

%

- Contract

 

35

 

34

 

35

 

35

 

34

 

34

 

-2.9

%

- Prepay

 

6

 

6

 

6

 

6

 

6

 

6

 

0.0

%

Non-Voice % of ARPU

 

11

%

13

%

13

%

13

%

15

%

13

%

2

%p

Cash Capex (million)

 

74

 

15

 

17

 

28

 

20

 

81

 

9.5

%

Cash Contribution (million)(2)

 

33

 

17

 

17

 

6

 

3

 

42

 

27.3

%

 


(1) Fully consolidated as of Q1/05

(2) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

43



 

Mobimak, Macedonia (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

524

 

565

 

623

 

693

 

752

 

752

 

43.5

%

- Contract

 

99

 

102

 

107

 

113

 

119

 

119

 

20.2

%

- Prepay

 

425

 

463

 

516

 

580

 

634

 

634

 

49.2

%

Net adds

 

157

 

42

 

58

 

70

 

59

 

229

 

45.9

%

- Contract

 

7

 

3

 

5

 

7

 

5

 

20

 

185.7

%

- Prepay

 

151

 

38

 

53

 

63

 

54

 

209

 

38.4

%

Average monthly churn

 

0.7

%

0.9

%

0.9

%

0.8

%

1.3

%

1.0

%

0.3

%p

- Contract

 

1.4

%

1.2

%

0.8

%

0.8

%

0.9

%

0.9

%

-0.5

%p

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

122

 

30

 

35

 

36

 

34

 

135

 

10.7

%

ARPU Revenue (million)

 

115

 

28

 

29

 

34

 

30

 

121

 

5.2

%

EBITDA (million)

 

68

 

16

 

19

 

19

 

17

 

71

 

4.4

%

EBITDA margin (total rev.)

 

55.7

%

53.3

%

54.3

%

52.8

%

50.0

%

52.6

%

-3.1

%p

EBITDA margin (ARPU rev.)

 

59.1

%

57.1

%

65.5

%

55.9

%

56.7

%

58.7

%

-0.4

%p

SAC

 

27

 

19

 

20

 

18

 

22

 

20

 

-25.9

%

- Contract

 

na

 

21

 

27

 

36

 

41

 

32

 

n.a.

 

- Prepay

 

na

 

19

 

20

 

16

 

20

 

19

 

n.a.

 

ARPU

 

na

 

17

 

16

 

17

 

14

 

16

 

n.a.

 

- Contract

 

na

 

45

 

43

 

48

 

39

 

44

 

n.a.

 

- Prepay

 

na

 

11

 

11

 

11

 

9

 

10

 

n.a.

 

Non-Voice % of ARPU

 

na

 

11

%

11

%

10

%

11

%

11

%

n.a.

 

Cash Capex (million)

 

34

 

1

 

5

 

2

 

1

 

9

 

-73.5

%

Cash Contribution (million)(1)

 

34

 

15

 

14

 

17

 

16

 

62

 

82.4

%

 


(1) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

44



 

T-Mobile USA (IFRS).

Key operating and financial data.

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

13,128

 

14,303

 

15,394

 

16,295

 

17,314

 

17,314

 

31.9

%

- Contract

 

11,696

 

12,784

 

13,720

 

14,528

 

15,341

 

15,341

 

31.2

%

- Prepay

 

1,432

 

1,519

 

1,674

 

1,767

 

1,973

 

1,973

 

37.8

%

Net adds

 

3,212

 

1,175

 

1,091

 

901

 

1,019

 

4,186

 

30.3

%

- Contract

 

3,135

 

1,088

 

936

 

808

 

813

 

3,645

 

16.3

%

- Prepay

 

77

 

87

 

155

 

93

 

206

 

541

 

602.6

%

Average monthly churn

 

3.1

%

3.0

%

2.8

%

3.0

%

3.1

%

3.0

%

-0.1

%p

- Contract

 

2.5

%

2.6

%

2.4

%

2.6

%

2.6

%

2.6

%

0.1

%p

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

7,363

 

2,053

 

2,317

 

2,458

 

2,450

 

9,278

 

26.0

%

ARPU Revenue (million)

 

6,161

 

1,697

 

1,971

 

2,059

 

2,038

 

7,765

 

26.0

%

EBITDA (million)

 

1,324

 

369

 

553

 

625

 

509

 

2,056

 

55.3

%

EBITDA margin (total rev.)

 

18.0

%

18.0

%

23.9

%

25.4

%

20.8

%

22.2

%

4.2

%p

EBITDA margin (ARPU rev.)

 

21.5

%

21.7

%

28.1

%

30.4

%

25.0

%

26.5

%

5.0

%p

SAC

 

187

 

177

 

159

 

149

 

156

 

160

 

-14.4

%

- Contract

 

211

 

197

 

178

 

167

 

180

 

181

 

-14.2

%

- Prepay

 

71

 

74

 

73

 

67

 

72

 

72

 

1.4

%

ARPU

 

45

 

41

 

44

 

43

 

41

 

42

 

-6.7

%

- Contract

 

47

 

43

 

46

 

46

 

43

 

45

 

-4.3

%

- Prepay

 

30

 

25

 

26

 

23

 

23

 

24

 

-20.0

%

Non-Voice % of ARPU

 

3

%

4

%

5

%

5

%

6

%

5

%

66.7

%

Cash Capex (million)

 

1,736

 

508

 

362

 

341

 

322

 

1,533

 

-11.7

%

Cash Capex (million, incl. JV)(1)

 

1,974

 

627

 

466

 

549

 

414

 

2,056

 

4.2

%

Cash Contribution (million)(2)

 

-412

 

-139

 

191

 

284

 

187

 

523

 

n.a.

 

Cash Contribution (million, incl.
JV)(1),(2)

 

-650

 

-258

 

87

 

76

 

95

 

0

 

n.a.

 

 


(1) incl. investments in California network JV

(2) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

45



 

T-Mobile USA (IFRS).

Key financial data in US$(1).

 

US$

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

8,321

 

2,568

 

2,790

 

3,004

 

3,176

 

11,538

 

38.7

%

Service Revenue (million)

 

6,962

 

2,123

 

2,373

 

2,516

 

2,643

 

9,655

 

38.7

%

EBITDA (million)

 

1,496

 

462

 

667

 

764

 

660

 

2,553

 

70.7

%

EBITDA margin (total rev.)

 

18.0

%

18.0

%

23.9

%

25.4

%

20.8

%

22.2

%

4.2

%p

EBITDA margin (ARPU rev.)

 

21.5

%

21.7

%

28.1

%

30.4

%

25.0

%

26.5

%

5.0

%p

SAC

 

211

 

222

 

192

 

182

 

202

 

199

 

-5.7

%

- Contract

 

239

 

246

 

215

 

204

 

233

 

225

 

-5.9

%

- Prepay

 

80

 

93

 

88

 

81

 

94

 

89

 

11.3

%

ARPU

 

51

 

52

 

53

 

53

 

53

 

53

 

3.9

%

- Contract

 

53

 

54

 

56

 

56

 

56

 

55

 

3.8

%

- Prepay

 

34

 

31

 

31

 

29

 

29

 

30

 

-11.8

%

Non-Voice % of ARPU

 

3

%

4

%

5

%

5

%

6

%

5

%

2

%p

Cash Capex (million)

 

1,963

 

659

 

458

 

440

 

457

 

2,014

 

2.6

%

Cash Capex (million, incl. JV)(1)

 

2,232

 

808

 

583

 

694

 

576

 

2,661

 

19.2

%

Cash Contribution (million)(2)

 

-467

 

-197

 

209

 

324

 

203

 

539

 

n.a.

 

Cash Contribution (million, incl. JV)(1),(2)

 

-736

 

-346

 

84

 

70

 

84

 

-108

 

85.3

%

 


(1) incl. investments in California network JV

(2) Defined as adj. EBITDA minus Cash Capex

 

 

Unaudited and preliminary Figures

 

46


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Notes.

 

 

 

 

Unaudited and preliminary Figures

 

47



 

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Notes.

 

 

 

Unaudited and preliminary Figures

 

 

48



 

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Notes.

 

 

 

Unaudited and preliminary Figures

 

 

49



 

T-Systems.

 

Content

 

 

 

Key figures adjusted for special influences

 

EBITDA reconciliation

 

Key figures unadjusted

 

Special influences

 

Enterprise and Business services

 

 

For further information on services, solutions, customers and divisional management see

 

www.t-systems.de

 



 

T-Systems adjusted for special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

12,937

 

3,075

 

3,272

 

3,169

 

3,441

 

12,957

 

0.2

%

Net revenue

 

9,267

 

2,209

 

2,327

 

2,200

 

2,505

 

9,241

 

-0.3

%

EBITDA

 

1,482

 

393

 

426

 

453

 

365

 

1,638

 

10.5

%

EBITDA margin

 

11.5

%

12.8

%

13.0

%

14.3

%

10.6

%

12.6

%

1.2

%p

Depreciation and amortization

 

-1,066

 

-232

 

-243

 

-234

 

-238

 

-947

 

11.2

%

Financial income/ expense, net(1)

 

-515

 

-166

 

-24

 

-173

 

-26

 

-389

 

24.5

%

Income before taxes = EBT

 

-99

 

-4

 

159

 

46

 

101

 

302

 

n.m.

 

Capex

 

n.a.

 

n.a.

 

n.a.

 

n.a.

 

n.a.

 

n.a.

 

n.a.

 

 


(1)  The at-equity consolidated stake in Toll Collect has been shifted from T-Com to T-Systems [Q2/2004: 1st of April]. Previous quarters have been adjusted.

 

 

 

Unaudited and preliminary Figures

 

50



 

EBITDA reconciliation in T-Systems.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Total revenue

 

3,441

 

12,937

 

12,957

 

Income before taxes = EBT

 

31

 

-49

 

181

 

=

EBT

 

31

 

-49

 

181

 

 

-   Special influences affecting EBT

 

-70

 

50

 

-121

 

 

=  Adj. EBT

 

101

 

-99

 

302

 

-

Financial income/ expense, net(1)

 

-26

 

-515

 

-389

 

-

Depreciation and amortization

 

-238

 

-1,066

 

-947

 

=

EBITDA

 

295

 

1,532

 

1,517

 

 

EBITDA margin

 

8.6

%

11.8

%

11.7

%

-

Special influences affecting EBITDA

 

-70

 

50

 

-121

 

=

Adj. EBITDA

 

365

 

1,482

 

1,638

 

 

Adj. EBITDA margin

 

10.6

%

11.5

%

12.6

%

 


(1)  The at-equity consolidated stake in Toll Collect has been shifted from T-Com to T-Systems [Q2/2004: 1st of April]. Previous quarters have been adjusted.

 

 

Unaudited and preliminary Figures

 

52



 

T-Systems unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

%

 

Total revenue

 

12,937

 

3,075

 

3,272

 

3,169

 

3,441

 

12,957

 

0.2

%

0.2

%

Net revenue

 

9,267

 

2,209

 

2,327

 

2,200

 

2,505

 

9,241

 

-0.3

%

-0.3

%

EBITDA

 

1,532

 

390

 

383

 

448

 

295

 

1,517

 

-1.0

%

-1.0

%

EBITDA margin

 

11.8

%

12.7

%

11.7

%

14.1

%

8.6

%

11.7

%

-0.1

%p

 

 

Depreciation and amortization

 

-1,066

 

-232

 

-243

 

-234

 

-238

 

-947

 

11.2

%

11.2

%

Financial income/ expense, net(1)

 

-515

 

-166

 

-24

 

-173

 

-26

 

-389

 

24.5

%

24.5

%

Income before taxes = EBT

 

-49

 

-7

 

116

 

41

 

31

 

181

 

n.m.

 

n.a.

 

 


(1)  The at-equity consolidated stake in Toll Collect has been shifted from T-Com to T-Systems [Q2/2004: 1st of April]. Previous quarters have been adjusted.

 

 

Unaudited and preliminary Figures

 

53



 

Special influences affecting T-Systems.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on EBITDA

 

50

 

-3

 

-43

 

-5

 

-70

 

-121

 

- of which gain of sale of Siris

 

19

 

 

 

 

 

 

 

 

 

 

 

- of which gain of sale of Telecash

 

106

 

 

 

 

 

 

 

 

 

 

 

- of which loss on sale of Multilink and T-Systems CS (Switzerland)

 

-58

 

 

 

 

 

 

 

 

 

 

 

- of which restructuring provisions

 

-7

 

-3

 

 

 

 

 

-53

 

-56

 

- of which transfer payment Vivento

 

-10

 

 

 

-43

 

-14

 

-17

 

-74

 

- of whichgain of sale of cc-chemplorer

 

 

 

 

 

 

 

9

 

 

 

9

 

Effect on Income before taxes = EBT

 

50

 

-3

 

-43

 

-5

 

-70

 

-121

 

 

 

Unaudited and preliminary Figures

 

54



 

T-Systems.

Summary Enterprise Services and Business Services.

 

Enterprise Services

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

8,235

 

1,907

 

2,102

 

2,039

 

2,200

 

8,248

 

0.2

%

Adj. EBITDA

 

1,422

 

319

 

328

 

369

 

249

 

1,265

 

-11.0

%

Adj. EBITDA margin

 

17.3

%

16.7

%

15.6

%

18.1

%

11.3

%

15.3

%

-1.9

%p

Capex

 

768

 

114

 

171

 

159

 

257

 

701

 

-8.7

%

Cash contribution

 

654

 

205

 

157

 

210

 

-8

 

564

 

-13.8

%

Headcount (average number)

 

36,554

 

35,110

 

35,520

 

35,860

 

35,626

 

35,529

 

-2.8

%

 

Business Services

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

4,702

 

1,168

 

1,170

 

1,129

 

1,242

 

4,709

 

0.1

%

Adj. EBITDA

 

60

 

74

 

99

 

84

 

116

 

373

 

521.7

%

Adj. EBITDA margin

 

1.3

%

6.3

%

8.5

%

7.4

%

9.2

%

7.8

%

6.6

%p

Capex

 

166

 

25

 

51

 

42

 

50

 

167

 

0.6

%

Cash contribution

 

-106

 

49

 

48

 

42

 

-64

 

75

 

n.a.

 

Headcount (average number)

 

17,836

 

17,247

 

17,210

 

15,734

 

15,606

 

15,449

 

-13.4

%

 

 

 

Unaudited and preliminary Figures

 

55



 

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Notes.

 

 

 

 

Unaudited and preliminary Figures

 

56



 

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Notes.

 

 

 

 

Unaudited and preliminary Figures

 

57



 

GHS.

 

Content

 

Key figures adjusted for special influences 

 

EBITDA reconciliation 

 

Key figures unadjusted 

 

Special influences 

 

 



 

“Group Headquarters & Shared Services”

adjusted for special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

3,271

 

866

 

882

 

887

 

891

 

3,526

 

7.8

%

Net revenue

 

235

 

64

 

67

 

56

 

73

 

260

 

10.6

%

EBITDA

 

-503

 

-87

 

-165

 

-22

 

-274

 

-548

 

-8.9

%

- of which Vivento

 

0

 

-175

 

-272

 

-148

 

-199

 

-794

 

n.a.

 

EBITDA margin

 

-15.4

%

-10.0

%

-18.7

%

-2.5

%

-30.8

%

-15.5

%

-0.1

%p

Depreciation and amortization

 

-771

 

-204

 

-196

 

-237

 

-239

 

-876

 

-13.6

%

Financial income/expense, net

 

-3,487

 

-812

 

-743

 

-666

 

-725

 

-2,946

 

15.5

%

Income before taxes = EBT

 

-4,761

 

-1,103

 

-1,104

 

-925

 

-1,238

 

-4,370

 

8.2

%

Cash capex

 

461

 

56

 

165

 

133

 

164

 

518

 

12.4

%

 

 

 

Unaudited and preliminary Figures

 

59



 

EBITDA reconciliation

in “Group Headquarters & Shared Services”.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Total revenue

 

891

 

3,271

 

3,526

 

Income before taxes = EBT

 

-1,111

 

-4,495

 

-4,120

 

-

Financial income/expense, net

 

-559

 

-3,328

 

-2,688

 

-

Depreciation and amortization

 

-239

 

-771

 

-876

 

=

EBITDA

 

-313

 

-396

 

-556

 

 

EBITDA margin

 

-35.1

%

-12.1

%

-15.8

%

-

Special influences affecting EBITDA

 

-39

 

107

 

-8

 

=

Adj. EBITDA

 

-274

 

-503

 

-548

 

 

Adj. EBITDA margin

 

-30.8

%

-15.4

%

-15.5

%

 

 

Unaudited and preliminary Figures

 

60



 

“Group Headquarters & Shared Services”

unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

3,271

 

866

 

882

 

887

 

891

 

3,526

 

7.8

%

Net revenue

 

235

 

64

 

67

 

56

 

73

 

260

 

10.6

%

EBITDA

 

-396

 

-120

 

-122

 

-1

 

-313

 

-556

 

-40.4

%

- of which Vivento

 

0

 

-208

 

-229

 

-117

 

-185

 

-739

 

n.a.

 

EBITDA margin

 

-12.1

%

-13.9

%

-13.8

%

-0.1

%

-35.1

%

-15.8

%

-3.7

%p

Depreciation and amortization

 

-771

 

-204

 

-196

 

-237

 

-239

 

-876

 

-13.6

%

Financial income/ expense, net

 

-3,328

 

-812

 

-651

 

-666

 

-559

 

-2,688

 

19.2

%

Income before taxes = EBT

 

-4,495

 

-1,136

 

-969

 

-904

 

-1,111

 

-4,120

 

8

%

 

 

Unaudited and preliminary Figures

 

61



 

Special influences affecting
“Headquarters & Shared Services”.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on EBITDA

 

107

 

-33

 

43

 

21

 

-39

 

-8

 

- of which transfer payment Vivento

 

131

 

 

 

43

 

21

 

19

 

83

 

- Accrual

 

 

 

 

 

 

 

 

 

-51

 

-51

 

- Accruals for reduction of personnel

 

-24

 

-33

 

 

 

 

 

-7

 

-40

 

Effects on Income before taxes = EBT

 

266

 

-33

 

135

 

21

 

127

 

250

 

 

 

 

Unaudited and preliminary Figures

 

62



 

Glossary for Non-GAAP figures.

 

If not stated otherwise all numbers comply with the International Financial Reporting Standards (IFRS). The non-GAAP figures contained in this presentation,

 

such as...

 

which is defined as...

EBIT

 

Abreviation for EARNINGS BEFORE INTEREST AND TAXES. EBIT is equivalent to the P&L-line “Operating Results”.

Adj. EBIT

 

EBIT adjusted for special influences.

EBT

 

Abreviation for EARNINGS BEFORE TAXES. EBT is equivalent to the P&L-line “Income before taxes”.

Adj. EBT

 

EBT adjusted for special influences.

EBITDA

 

Abreviation for EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION. EBITDA is equivalent to EBIT minus Depreciation and Amortisation. Depreciation and Amortisation is not a line in the P&L but provided as “Other disclosure”.

Adj. EBITDA

 

EBITDA adjusted for special influences.

Adj. Net income/loss

 

Net income/loss adjusted for special influences.

Special influences

 

Special influences impair the comparability of the results with previous periods. Details on the special influences are given for for the group and each division.

Cash capex

 

Amout of payouts for tangible and intangible assets excluding goodwill.

Cash contribution

 

EBITDA minus capex.

Free cash flow

 

Net cash provided by operating activities minus capex.

Gross debt

 

Gross debt is the basis for total net interest expense incurred and contains debt in accordance with the consolidated balance sheet, liabilities to non-banks from loan notes, cash collateral received for positive fair values from derivatives, and necessary settlement amounts for interest rate and cross currency swaps for loans taken out in foreign currencies.

Net debt

 

Gross debt minus liquid assets, minus investments in noncurrent securities and in marketable securities, minus discounts on loans minus cash collateral paid for negative fair values from derivatives and necessary settlement amounts for interest rate and cross currency swaps for loans taken out in foreign currencies.

ARPU

 

Abreviation for AVERAGE REVENUE PER USER. Calculation: Service fee, as well as voice, non voice, roaming and visitor revenues divided by the average number of customers in the period. Visitor revenues are allocated exclusivly to contract customers. Activation charges, virtual network operator revenues and other operating revenue are not included.

SAC

 

Abreviation for SUBSCRIBER AQUISITION COSTS. Calculation: Customer acquisition costs divided by the number of gross customers added durring the respective period.

CPGA

 

Abreviation for COST PER GROSS ADD. Calculation: customer acquisition costs plus the subsidy loss on customer acquisition related to equipment sales, divided by the number of gross customers added during the respective period.

CCPU

 

Abreviation for CASH COST PER USER. Calculation: including all network and general and administrative costs divided by the average number of customers during the respective period.

 

These and the other non-GAAP figures used by Deutsche Telekom should not be viewed as a substitute for our GAAP figures. Our non-GAAP measures may not be comparable to non-GAAP measures used by other companies. To interpret our major non-GAAP measures, please refer to the information contained in these materials and the chapter “Reconciliation to pro forma figures” in the anual and interim reports or the reconciliation to pro forma figures posted on Deutsche Telekom’s Investor relations website.

 

 

 

Unaudited and preliminary Figures

 

63



 

Content.

 

Glossary and Disclaimer

 

 

 

At a Glance

 

 

 

Group

 

Group P&L adjusted

 

Group P&L unadjusted

 

Special Infl. in Group P&L

 

Details on Special Infl.

 

Group EBIT and EBITDA recon.

 

Balance Sheet

 

Net Debt

 

Capex

 

Cash Flow

 

Personnel

 

FX-rate AVERAGE

 

FX-rate END OF PERIOD

 

 

 

Broadband/Fixed Net

 

Broadband / Fixed Net adjusted

 

Broadband/Fixed Special Infl.

 

Broadband/Fixed unadjusted

 

Broadband/Fixed EBITDA recon.

 

 

 

T-Mobile

 

T-Mobile adjusted

 

T-Mobile Special Infl.

 

T-Mobile unadjusted

 

T-Mobile EBITDA recon.

 

T-Mobile Countries

 

 

 

T-Systems

 

T-Systems adjusted

 

T-Systems Special Infl.

 

T-Systems unadjusted

 

T-Systems EBT & EBITDA recon.

 

T-Systems Group Details

 

 

 

Group Headquarters & Shared Services

 

GHS adjusted

 

GHS Special Effects

 

GHS unadjusted

 

GHS EBITDA recon.

 

 



 

NEW Backup FY 2004.

 

Please be aware, that this excel file is an abriged backup version. The complete backup is provided in .pdf format and contains additional information on slide number ....

This excel file, the complete backup, the presentation and the audio webcast can be downloaded from the Investor Relations site on the internet at www.Telekom.de or www.deutschetelekom.com.

 

 

For further information on the divisions please refer to:

www.telekom.de

 

www.t-com.de

 

www.t-mobile.de

 

www.t-systems.com

 

www.t-online.de

 

Investor Relations, Bonn office

 

Investor Relations, New York office

Phone

+49 228 181 - 8 88 80

Phone

+1 212 424 2926

Fax

+49 228 181 - 8 88 99

Phone

+ 1 877 DT SHARE (toll-free)

E-Mail

investor.relations@telekom.de

Fax

+1 212 424 2986

 

E-Mail

investor.relations@usa.telekom.de

 



 

Glossary and Disclaimer.

 

If not stated otherwise all numbers comply with the International Financial Reporting Standards (IFRS). The non-GAAP figures contained in this presentation,

 

such as...

 

which is defined as...

EBIT

 

Abreviation for EARNINGS BEFORE INTEREST AND TAXES. EBIT is equivalent to the P&L-line “Operating Results”.

Adj. EBIT

 

EBIT adjusted for special influences.

EBT

 

Abreviation for EARNINGS BEFORE TAXES. EBT is equivalent to the P&L-line “Income before taxes”.

Adj. EBT

 

EBT adjusted for special influences.

EBITDA

 

Abreviation for EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION. EBITDA is equivalent to EBIT minus Depreciation and Amortisation. Depreciation and Amortisation is not a line in the P&L but provided as “Other disclosure”.

Adj. EBITDA

 

EBITDA adjusted for special influences.

Adj. Net income/loss

 

Net income/loss adjusted for special influences.

Special influences

 

Special influences impair the comparability of the results with previous periods. Details on the special influences are given for for the group and each division.

Cash capex

 

Amout of payouts for tangible and intangible assets excluding goodwill.

Cash contribution

 

EBITDA minus capex.

Free cash flow

 

Net cash provided by operating activities minus capex.

Gross debt

 

Gross debt is the basis for total net interest expense incurred and contains debt in accordance with the consolidated balance sheet, liabilities to non-banks from loan notes, cash collateral received for positive fair values from derivatives, and necessary settlement amounts for interest rate and cross currency swaps for loans taken out in foreign currencies.

Net debt

 

Gross debt minus liquid assets, minus investments in noncurrent securities and in marketable securities, minus discounts on loans minus cash collateral paid for negative fair values from derivatives and necessary settlement amounts for interest rate and cross currency swaps for loans taken out in foreign currencies.

ARPU

 

Abreviation for AVERAGE REVENUE PER USER. Calculation: Service fee, as well as voice, non voice, roaming and visitor revenues divided by the average number of customers in the period. Visitor revenues are allocated exclusivly to contract customers. Activation charges, virtual network operator revenues and other operating revenue are not included.

SAC

 

Abreviation for SUBSCRIBER AQUISITION COSTS. Calculation: Customer acquisition costs divided by the number of gross customers added durring the respective period.

CPGA

 

Abreviation for COST PER GROSS ADD. Calculation: customer acquisition costs plus the subsidy loss on customer acquisition related to equipment sales, divided by the number of gross customers added during the respective period.

CCPU

 

Abreviation for CASH COST PER USER. Calculation: including all network and general and administrative costs divided by the average number of customers during the respective period.

 

These and the other non-GAAP figures used by Deutsche Telekom should not be viewed as a substitute for our GAAP figures. Our non-GAAP measures may not be comparable to non-GAAP measures used by other companies. To interpret our major non-GAAP measures, please refer to the information contained in these materials and the chapter “Reconciliation to pro forma figures” in the anual and interim reports or the reconciliation to pro forma figures posted on Deutsche Telekom’s Investor relations website.

 



 

At a Glance.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadband/Fixedline

 

28,295

 

6,941

 

6,809

 

6,609

 

6,651

 

27,010

 

-4.5

%

T-Com

 

27,206

 

6,599

 

6,470

 

6,254

 

6,278

 

25,601

 

-5.9

%

T-Online

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

8.7

%

T-Mobile

 

24,198

 

6,272

 

6,649

 

6,914

 

6,692

 

26,527

 

9.6

%

T-Systems

 

12,937

 

3,075

 

3,272

 

3,169

 

3,441

 

12,957

 

0.2

%

GHS

 

3,271

 

866

 

882

 

887

 

891

 

3,526

 

7.8

%

Reconciliation

 

-13,198

 

-3,264

 

-3,235

 

-3,226

 

-2,935

 

-12,660

 

4.1

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadband/Fixedline

 

23,197

 

5,653

 

5,609

 

5,433

 

5,714

 

22,409

 

-3.4

%

T-Mobile

 

22,804

 

5,966

 

6,372

 

6,663

 

6,449

 

25,450

 

11.6

%

T-Systems

 

9,267

 

2,209

 

2,327

 

2,200

 

2,505

 

9,241

 

-0.3

%

GHS

 

235

 

64

 

67

 

56

 

73

 

260

 

10.6

%

Group

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

3.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA excluding special influences

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadband/Fixedline

 

10,408

 

2,592

 

2,577

 

2,495

 

2,509

 

10,173

 

-2.3

%

T-Com

 

10,120

 

2,490

 

2,440

 

2,359

 

2,434

 

9,723

 

-3.9

%

T-Online

 

315

 

118

 

129

 

136

 

81

 

464

 

47.3

%

T-Mobile

 

7,202

 

1,826

 

2,127

 

2,374

 

2,068

 

8,395

 

16.6

%

T-Systems

 

1,482

 

393

 

426

 

453

 

365

 

1,638

 

10.5

%

GHS

 

-503

 

-87

 

-165

 

-22

 

-274

 

-548

 

-8.9

%

Reconciliation

 

-17

 

-49

 

-42

 

-7

 

58

 

-41

 

-141.2

%

Group

 

18,572

 

4,675

 

4,923

 

5,293

 

4,726

 

19,617

 

5.6

%

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

EBITDA Margin excluding special influences

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadband/Fixedline

 

36.8

%

37.3

%

37.8

%

37.8

%

37.7

%

37.7

%

2.4

%

T-Com

 

37.2

%

37.7

%

37.7

%

37.7

%

38.8

%

38.0

%

2.1

%

T-Online

 

17.0

%

24.1

%

25.9

%

28.0

%

15.1

%

23.1

%

35.5

%

T-Mobile

 

29.8

%

29.1

%

32.0

%

34.3

%

30.9

%

31.6

%

6.3

%

T-Systems

 

11.5

%

12.8

%

13.0

%

14.3

%

10.6

%

12.6

%

10.4

%

GHS

 

-15.4

%

-10.0

%

-18.7

%

-2.5

%

-30.8

%

-15.5

%

-1.1

%

Group

 

33.5

%

33.7

%

34.2

%

36.9

%

32.1

%

34.2

%

2.2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Capex

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

T-Mobile

 

3,313

 

826

 

766

 

696

 

790

 

3,078

 

-7.1

%

GHS

 

461

 

56

 

165

 

133

 

164

 

518

 

12.4

%

Group

 

6,362

 

1,353

 

1,575

 

1,480

 

2,002

 

6,410

 

0.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

excl. special influences

 

1,937

 

632

 

577

 

-1,359

 

1,714

 

1,564

 

-19.3

%

incl. Special influences

 

2,273

 

691

 

1,222

 

1,152

 

592

 

3,657

 

60.9

%

Free-Cash-Flow
before dividend

 

8,691

 

2,951

 

1,325

 

2,440

 

3,595

 

10,311

 

18.6

%

Net Debt (billion)

 

50,725

 

48,883

 

47,317

 

44,667

 

39,592

 

39,592

 

-21.9

%

 



 

DT Group P&L.

 

Adjusted for specials influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Net revenue

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

3.3

%

Cost of Sales

 

-29,347

 

-7,219

 

-7,618

 

-7,514

 

-7,872

 

-30,223

 

3.0

%

Gross profit/loss from sales

 

26,156

 

6,671

 

6,759

 

6,839

 

6,868

 

27,137

 

3.8

%

Selling Costs

 

-12,742

 

-3,207

 

-3,072

 

-3,031

 

-3,503

 

-12,813

 

0.6

%

General administrative costs

 

-4,515

 

-1,034

 

-1,148

 

-1,002

 

-1,184

 

-4,368

 

-3.3

%

Other operating income

 

1,851

 

361

 

398

 

396

 

479

 

1,634

 

-11.7

%

Other operating expenses

 

-1,508

 

-306

 

-375

 

-331

 

-380

 

-1,392

 

-7.7

%

Operating results = EBIT

 

9,242

 

2,485

 

2,562

 

2,871

 

2,280

 

10,198

 

10.3

%

EBIT margin

 

16.7

%

17.9

%

17.8

%

20.0

%

15.5

%

17.8

%

1.1

%p

Financial income/expense, net

 

-4,878

 

-1,224

 

-788

 

-1,024

 

-937

 

-3,973

 

-18.6

%

of which: net interest expense

 

-3,880

 

-937

 

-919

 

-860

 

-780

 

-3,496

 

-9.9

%

Income before taxes = EBT

 

4,364

 

1,261

 

1,774

 

1,847

 

1,343

 

6,225

 

42.6

%

Income taxes

 

-1,634

 

-440

 

-430

 

-560

 

-657

 

-2,087

 

27.7

%

Income/loss after taxes

 

2,730

 

821

 

1,344

 

1,287

 

686

 

4,138

 

51.6

%

Income/losses applicable to minority shareholders

 

-457

 

-130

 

-122

 

-135

 

-94

 

-481

 

5.3

%

Net income/loss

 

2,273

 

691

 

1,222

 

1,152

 

592

 

3,657

 

60.9

%

Depreciation and amortization

 

-9,330

 

-2,190

 

-2,361

 

-2,422

 

-2,446

 

-9,419

 

1.0

%

EBITDA

 

18,572

 

4,675

 

4,923

 

5,293

 

4,726

 

19,617

 

5.6

%

EBITDA margin

 

33.5

%

33.7

%

34.2

%

36.9

%

32.1

%

34.2

%

0.7

%p

 



 

DT Group P&L.

 

Unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Net revenue

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

3.3

%

Cost of Sales

 

-29,369

 

-7,219

 

-8,971

 

-7,515

 

-7,854

 

-31,559

 

7.5

%

Gross profit/loss from sales

 

26,134

 

6,671

 

5,406

 

6,838

 

6,886

 

25,801

 

-1.3

%

Selling Costs

 

-12,747

 

-3,207

 

-3,072

 

-3,032

 

-3,526

 

-12,837

 

0.7

%

General administrative costs

 

-4,596

 

-1,034

 

-1,148

 

-1,016

 

-1,307

 

-4,505

 

-2.0

%

Other operating income

 

2,359

 

361

 

473

 

405

 

479

 

1,718

 

-27.2

%

Other operating expenses

 

-2,765

 

-375

 

-375

 

-2,852

 

-314

 

-3,916

 

41.6

%

Operating results = EBIT

 

8,385

 

2,416

 

1,284

 

343

 

2,218

 

6,261

 

-25.3

%

EBIT margin

 

15.1

%

17.4

%

8.9

%

2.4

%

15.0

%

10.9

%

-4.2

%p

Financial income/expense, net

 

-4,247

 

-1,224

 

-696

 

-1,024

 

201

 

-2,743

 

-35.4

%

of which: net interest expense

 

-3,880

 

-937

 

-919

 

-860

 

-780

 

-3,496

 

-9.9

%

Income before taxes = EBT

 

4,138

 

1,192

 

588

 

-681

 

2,419

 

3,518

 

-15.0

%

Income taxes

 

-1,744

 

-430

 

111

 

-543

 

-666

 

-1,528

 

-12.4

%

Income/loss after taxes

 

2,394

 

762

 

699

 

-1,224

 

1,753

 

1,990

 

-16.9

%

Income/losses applicable to minority shareholders

 

-457

 

-130

 

-122

 

-135

 

-39

 

-426

 

-6.8

%

Net income/loss

 

1,937

 

632

 

577

 

-1,359

 

1,714

 

1,564

 

-19.3

%

Depreciation and amortization

 

-10,304

 

-2,190

 

-3,714

 

-4,850

 

-2,374

 

-13,128

 

27.4

%

EBITDA

 

18,689

 

4,606

 

4,998

 

5,193

 

4,592

 

19,389

 

3.7

%

EBITDA margin

 

33.7

%

33.2

%

34.8

%

36.2

%

31.2

%

33.8

%

0.1

%p

 



 

DT Group.

 

Special influences in Group P&L.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Net revenue

 

0

 

0

 

0

 

0

 

0

 

0

 

Cost of Sales

 

-22

 

0

 

-1,353

 

-1

 

18

 

-1,336

 

Gross profit/loss from sales

 

-22

 

0

 

-1,353

 

-1

 

18

 

-1,336

 

Selling Costs

 

-5

 

0

 

0

 

-1

 

-23

 

-24

 

General administrative costs

 

-81

 

0

 

0

 

-14

 

-123

 

-137

 

Other operating income

 

508

 

0

 

75

 

9

 

0

 

84

 

Other operating expenses

 

-1,257

 

-69

 

0

 

-2,521

 

66

 

-2,524

 

Operating results = EBIT

 

-857

 

-69

 

-1,278

 

-2,528

 

-62

 

-3,937

 

Financial income/expense, net

 

631

 

0

 

92

 

0

 

1,138

 

1,230

 

expense

 

0

 

0

 

0

 

0

 

0

 

0

 

Income before taxes = EBT

 

-226

 

-69

 

-1,186

 

-2,528

 

1,076

 

-2,707

 

Income taxes

 

-110

 

10

 

541

 

17

 

-9

 

559

 

Income/loss after taxes

 

-336

 

-59

 

-645

 

-2,511

 

1,067

 

-2,148

 

Income/losses applicable to minority shareholders

 

0

 

0

 

0

 

0

 

55

 

55

 

Net income/loss

 

-336

 

-59

 

-645

 

-2,511

 

1,122

 

-2,093

 

Depreciation and amortization

 

-974

 

0

 

-1,353

 

-2,428

 

72

 

-3,709

 

EBITDA

 

117

 

-69

 

75

 

-100

 

-134

 

-228

 

 



 

DT Group.

 

Details on Special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on Operating expenses

 

-1,365

 

-69

 

-1,353

 

-2,537

 

-62

 

-4,021

 

- of which unscheduled write-downs on FCC-licences and on goodwill of T-Mobile USA

 

-789

 

 

 

-1,353

 

 

 

92

 

-1,261

 

- of which unscheduled write-down on goodwill of T-Mobile UK

 

 

 

 

 

 

 

-2,225

 

 

 

-2,225

 

- of which restructuring charges and goodwill write-downs BB/FN CEE (MATÁV/ST/HT)

 

-251

 

 

 

 

 

-219

 

-146

 

-365

 

- of which losses from the disposal of Multilink and T-Systems CS AG

 

-58

 

 

 

 

 

 

 

 

 

 

 

- of which due to accruals for sale of cable

 

-159

 

 

 

 

 

 

 

-37

 

-37

 

- of which additional accruals for redundancy payments, personnel reduction and others

 

-108

 

-69

 

 

 

-93

 

29

 

-133

 

Effect on Other operating income

 

508

 

0

 

75

 

9

 

0

 

84

 

- of which sale of cable, Vergin Mobile, Telecash, Siris and cc-chemplorer

 

508

 

0

 

75

 

9

 

0

 

84

 

Effect on Operating Results = EBIT

 

-857

 

-69

 

-1,278

 

-2,528

 

-62

 

-3,937

 

Effect on EBITDA

 

117

 

-69

 

75

 

-100

 

-134

 

-228

 

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on Financial income

 

631

 

0

 

92

 

0

 

1138

 

1230

 

- of which sale of EUTELSAT, UMC, MTS, Celcom, SES, Inmarsat, Globe Telecom, cable

 

812

 

 

 

92

 

 

 

1138

 

1230

 

- of which write-up comdirect bank AG

 

40

 

 

 

 

 

 

 

 

 

 

 

- of which increased accruals for the health service of civil servants

 

-221

 

 

 

 

 

 

 

 

 

 

 

Effect on Income before taxes

 

-226

 

-69

 

-1,186

 

-2,528

 

1,076

 

-2,707

 

Effect on Tax

 

-110

 

10

 

541

 

17

 

-9

 

559

 

- of which from change in legal structure T-Mobile

 

466

 

 

 

 

 

 

 

 

 

 

 

- of which Sale of cable and MTS, accruals, valuation adjustment and others

 

-438

 

10

 

 

 

17

 

28

 

55

 

- of which effect of impairment on FCC-licences

 

 

 

 

 

541

 

 

 

-37

 

504

 

- of which effect of increased accruals for the health service of civil servants

 

-138

 

 

 

 

 

 

 

 

 

 

 

Effect on income/losses applicable to minority shareholders: Redundancy payments T-Com CEE

 

 

 

 

 

 

 

 

 

55

 

55

 

Effect on Net income/(loss)

 

-336

 

-59

 

-645

 

-2,511

 

1,122

 

-2,093

 

 



 

DT Group.

 

EBIT and EBITDA reconciliation.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Net revenue

 

14,740

 

55,503

 

57,360

 

Operating Results = EBIT

 

2,218

 

8,385

 

6,261

 

-

Depreciation and amortization

 

-2,374

 

-10,304

 

-13,128

 

=

EBITDA

 

4,592

 

18,689

 

19,389

 

 

EBITDA margin [EBITDA/Net revenue]

 

31.2

%

33.7

%

33.8

%

 

-    Special influences affecting EBITDA

 

-134

 

117

 

-228

 

=

Adj. EBITDA

 

4,726

 

18,572

 

19,617

 

 

Adj. EBITDA margin [Adj. EBITDA/Net revenue]

 

32.1

%

33.5

%

34.2

%

 



 

Consolidated balance sheet.

 

Assets.

 

€ billion(1)

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

Delta
Q4 vs.
Q3

 

Delta
y.o.y.

 

Current assets

 

21.5

 

21.7

 

19.7

 

18.3

 

19.0

 

3.7

%

-11.7

%

Cash and cash equivalents

 

9.1

 

9.2

 

6.6

 

5.9

 

8.0

 

35.6

%

-11.7

%

Trade and other receivables

 

7.6

 

7.1

 

7.6

 

7.2

 

6.7

 

-6.2

%

-11.4

%

Current recoverable income taxes

 

1.0

 

0.5

 

0.4

 

0.3

 

0.3

 

0.0

%

-68.3

%

Other current financial assests

 

2.1

 

2.3

 

2.6

 

2.4

 

1.8

 

-25.2

%

-16.0

%

Inventories

 

1.0

 

1.1

 

1.2

 

1.4

 

1.2

 

-17.3

%

15.4

%

Other current assets

 

0.7

 

1.5

 

1.3

 

1.1

 

1.0

 

-14.0

%

39.6

%

Noncurrent assets

 

118.1

 

118.7

 

116.4

 

112.3

 

110.1

 

-2.0

%

-6.8

%

Intangible assets

 

55.4

 

56.9

 

55.5

 

52.3

 

50.7

 

-2.9

%

-8.4

%

Property, plant, and equipment

 

49.3

 

48.5

 

47.9

 

46.8

 

46.3

 

-1.1

%

-6.0

%

Equity-accounted financial assets

 

2.4

 

2.6

 

2.8

 

3.1

 

2.7

 

-13.7

%

11.1

%

Other noncurrent financial assets

 

1.4

 

1.3

 

1.0

 

0.9

 

1.7

 

82.0

%

19.9

%

Deferred tax assets

 

9.3

 

9.0

 

9.0

 

8.9

 

8.3

 

-6.6

%

-10.8

%

Other noncurrent assets

 

0.3

 

0.4

 

0.3

 

0.3

 

0.4

 

23.9

%

26.0

%

Total assets

 

139.6

 

140.3

 

136.1

 

130.6

 

129.1

 

-1.2

%

-7.6

%

 

Liabilities and shareholders’ equity.

 

€ billion(1)

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

Delta
Q4 vs.
Q3

 

Delta
y.o.y.

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

30.4

 

29.4

 

29.3

 

28.5

 

26.2

 

-8.2

%

-13.9

%

Current financial liabilities

 

18.9

 

18.5

 

18.6

 

17.8

 

14.1

 

-20.6

%

-25.3

%

Trade and other payables

 

6.4

 

5.4

 

5.3

 

5.0

 

6.1

 

23.1

%

-4.4

%

Income tax liabilities

 

0.2

 

0.4

 

0.5

 

0.6

 

0.7

 

24.8

%

257.5

%

Current provisions

 

3.4

 

3.4

 

3.2

 

3.5

 

3.7

 

4.3

%

8.8

%

Other current liabilities

 

1.5

 

1.6

 

1.7

 

1.7

 

1.5

 

-8.5

%

0.8

%

Noncurrent liabilities

 

65.4

 

65.3

 

60.5

 

57.4

 

57.0

 

-0.7

%

-12.8

%

Noncurrent financial liabilities

 

46.3

 

45.8

 

41.4

 

38.2

 

38.1

 

-0.1

%

-17.6

%

Provisions for pensions/employee benefits

 

4.2

 

4.2

 

4.3

 

4.3

 

4.2

 

-2.6

%

0.2

%

Other noncurrent provisions

 

2.6

 

2.7

 

2.9

 

2.9

 

3.1

 

7.4

%

18.3

%

Deferred tax liabilities

 

10.6

 

10.7

 

10.3

 

10.4

 

9.7

 

-6.8

%

-8.4

%

Other noncurrent liabilities

 

1.7

 

1.8

 

1.7

 

1.6

 

1.9

 

16.0

%

11.5

%

Shareholders’ equity

 

43.8

 

45.7

 

46.3

 

44.7

 

45.9

 

2.7

%

4.7

%

Issued capital

 

10.7

 

10.7

 

10.7

 

10.7

 

10.7

 

0.0

%

0.4

%

Capital reserves

 

49.5

 

49.5

 

49.5

 

49.5

 

49.5

 

0.0

%

0.0

%

Retained earnings incl. carryforwards

 

-19.6

 

-17.7

 

-17.7

 

-17.7

 

-17.7

 

-0.1

%

-9.8

%

Other comprehensive income

 

-2.9

 

-1.9

 

-1.9

 

-2.2

 

-2.7

 

19.5

%

-8.0

%

Consolidated net profit

 

1.9

 

0.6

 

1.2

 

-0.2

 

1.6

 

n.a.

 

-17.7

%

Subtotal

 

39.6

 

41.3

 

41.8

 

40.2

 

41.5

 

3.2

%

4.7

%

Minority interest

 

4.2

 

4.4

 

4.4

 

4.5

 

4.4

 

-2.3

%

4.6

%

Total liabilities and shareholder’s equity

 

139.6

 

140.3

 

136.1

 

130.6

 

129.1

 

-1.2

%

-7.6

%

 



 

Debt to net debt reconciliation.

 

€ million

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

Delta
Q4 vs.
Q3

 

Delta
y.o.y.

 

Bonds

 

51,164

 

49,997

 

46,559

 

43,347

 

39,458

 

-3,889

 

-11,706

 

Liabilities to banks

 

3,789

 

3,262

 

3,182

 

3,153

 

3,074

 

-79

 

-715

 

Liabilities to non-banks from promissory notes

 

756

 

769

 

755

 

718

 

651

 

-67

 

-105

 

Other financial liabilities

 

4,983

 

4,977

 

4,618

 

4,546

 

5,225

 

679

 

242

 

Gross debt under IFRS

 

60,692

 

59,005

 

55,114

 

51,764

 

48,408

 

 

 

 

 

Cash and cash equivalents

 

9,131

 

9,198

 

6,614

 

5,928

 

8,038

 

2,110

 

-1,093

 

Available-for-sale/Held-for-trading financial assets

 

137

 

151

 

676

 

636

 

120

 

-516

 

-17

 

Other financial assets

 

699

 

773

 

507

 

533

 

658

 

 

 

 

 

Net debt under IFRS

 

50,725

 

48,883

 

47,317

 

44,667

 

39,592

 

-5,075

 

-11,133

 

 



 

Cash Capex.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

T-Mobile

 

3,313

 

826

 

766

 

696

 

790

 

3,078

 

-7.1

%

GHS

 

461

 

56

 

165

 

133

 

164

 

518

 

12.4

%

Group

 

6,362

 

1,353

 

1,575

 

1,480

 

2,002

 

6,410

 

0.8

%

 



 

Free cash flow.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Net cash provided by operating activities

 

15,053

 

4,304

 

2,900

 

3,920

 

5,597

 

16,721

 

11.1

%

Cash out flows from investments in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- intangible assets

 

-1,141

 

-123

 

-232

 

-218

 

-471

 

-1,044

 

-8.5

%

- property, plant, equipment

 

-5,221

 

-1,230

 

-1,343

 

-1,262

 

-1,531

 

-5,366

 

2.8

%

Free cash flow [before dividend]

 

8,691

 

2,951

 

1,325

 

2,440

 

3,595

 

10,311

 

18.6

%

 



 

Personnel (1).

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta y.o.y

 

End of period

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

abs.

 

%

 

BBFN

 

118,640

 

114,345

 

114,991

 

116,379

 

114,083

 

-4,557

 

-3.8

%

T-Com

 

116,025

 

111,399

 

112,049

 

113,376

 

111,079

 

-4,946

 

-4.3

%

T-Online

 

2,615

 

2,946

 

2,942

 

3,003

 

3,004

 

389

 

14.9

%

T-Mobile

 

46,600

 

46,722

 

47,652

 

48,164

 

47,797

 

1,197

 

2.6

%

T-Systems

 

52,585

 

52,225

 

52,970

 

51,400

 

51,173

 

-1,412

 

-2.7

%

GHS

 

30,694

 

34,862

 

32,219

 

31,948

 

31,592

 

898

 

2.9

%

- of which Vivento(2)

 

15,500

 

19,500

 

19,200

 

18,600

 

18,300

 

2,800

 

18.1

%

DT Group

 

248,519

 

248,153

 

247,830

 

247,891

 

244,645

 

-3,874

 

-1.6

%

- of which civil servants

 

49,793

 

49,664

 

47,964

 

47,771

 

47,163

 

-2,630

 

-5.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delta y.o.y.

 

Average

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

abs.

 

%

 

BBFN

 

128,065

 

114,748

 

114,861

 

116,549

 

115,010

 

115,292

 

-12,773

 

-10.0

%

T-Com

 

125,428

 

111,830

 

111,916

 

113,568

 

112,003

 

112,329

 

-13,099

 

-10.4

%

T-Online

 

2,637

 

2,918

 

2,945

 

2,981

 

3,007

 

2,963

 

326

 

12.3

%

T-Mobile

 

44,899

 

46,337

 

47,407

 

48,111

 

47,815

 

47,418

 

2,519

 

5.6

%

T-Systems

 

54,390

 

52,357

 

52,729

 

51,593

 

51,232

 

51,978

 

-2,412

 

-4.4

%

GHS

 

23,909

 

34,919

 

32,787

 

32,108

 

31,673

 

32,872

 

8,963

 

37.5

%

- of which Vivento(2)

 

8,300

 

19,600

 

19,000

 

18,900

 

18,400

 

19,000

 

10,700

 

128.9

%

DT Group

 

251,263

 

248,361

 

247,785

 

248,360

 

245,730

 

247,559

 

-3,704

 

-1.5

%

- of which civil servants

 

49,998

 

49,886

 

48,928

 

47,843

 

47,489

 

48,536

 

-1,461

 

-2.9

%

 


(1)  Full-time employees: number of employees without trainees and students.

(2)  Figures rounded; excluding permanent staff.

 



 

Broadband/Fixed Net

 

Adjusted for specials influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

28,295

 

6,941

 

6,809

 

6,609

 

6,651

 

27,010

 

-4.5

%

- of which T-Com

 

27,206

 

6,599

 

6,470

 

6,254

 

6,278

 

25,601

 

-5.9

%

- of which T-Online

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

8.7

%

Net revenue

 

23,197

 

5,653

 

5,609

 

5,433

 

5,714

 

22,409

 

-3.4

%

Adjusted EBITDA

 

10,408

 

2,592

 

2,577

 

2,495

 

2,509

 

10,173

 

-2.3

%

- of which T-Com

 

10,120

 

2,490

 

2,440

 

2,359

 

2,434

 

9,723

 

-3.9

%

- of which T-Online

 

315

 

118

 

129

 

136

 

81

 

464

 

47.3

%

Adjusted EBITDA margin

 

36.8

%

37.3

%

37.8

%

37.8

%

37.7

%

37.7

%

0.9

%p

Depreciation and amortization

 

-4,747

 

-1,082

 

-1,122

 

-1,181

 

-1,023

 

-4,408

 

-7.1

%

Financial income/ expense, net(1)

 

-15

 

261

 

20

 

49

 

149

 

479

 

n.a.

 

Income before taxes = EBT

 

5,609

 

1,771

 

1,475

 

1,513

 

1,655

 

6,414

 

14.4

%

 



 

Broadband/Fixed Net

 

Unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

28,295

 

6,941

 

6,809

 

6,609

 

6,651

 

27,010

 

-4.5

%

- of which T-Com

 

27,206

 

6,599

 

6,470

 

6,254

 

6,278

 

25,601

 

-5.9

%

- of which T-Online

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

8.7

%

Net revenue

 

23,197

 

5,653

 

5,609

 

5,433

 

5,714

 

22,409

 

-3.4

%

EBITDA

 

10,368

 

2,559

 

2,577

 

2,477

 

2,340

 

9,953

 

-4.0

%

- of which T-Com

 

10,080

 

2,457

 

2,440

 

2,342

 

2,265

 

9,504

 

-5.7

%

- of which T-Online

 

339

 

118

 

129

 

135

 

81

 

463

 

36.6

%

EBITDA margin

 

36.6

%

36.9

%

37.8

%

37.5

%

35.2

%

36.8

%

0.2

%p

Depreciation and amortization

 

-4,674

 

-1,082

 

-1,122

 

-1,031

 

-1,003

 

-4,238

 

-9.3

%

Financial income/ expense, net(1)

 

-125

 

261

 

20

 

49

 

149

 

479

 

n.m.

 

Income before taxes = EBT

 

5,606

 

1,738

 

1,475

 

1,345

 

1,466

 

6,024

 

7.5

%

 



 

Broadband/Fixed Net

 

Special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on EBITDA

 

-40

 

-33

 

0

 

-18

 

-169

 

-220

 

- of which book gain sale of cable

 

383

 

 

 

 

 

 

 

 

 

 

 

- of which charges on sale of cable

 

-159

 

 

 

 

 

 

 

-37

 

-37

 

- Accruals for personnel reductions

 

-77

 

 

 

 

 

 

 

 

 

 

 

- Additional minimum liability

 

 

 

 

 

 

 

 

 

 

 

 

 

- Transfer payments to Vivento

 

-121

 

 

 

 

 

-2

 

 

 

-2

 

- Accruals for redundancy payments

 

 

 

-33

 

 

 

 

 

 

 

-33

 

- Restructuring of MATÁV, HT, ST

 

-66

 

 

 

 

 

-16

 

-132

 

-148

 

Effect on Income before taxes = EBT

 

-3

 

-33

 

0

 

-168

 

-189

 

-390

 

- of which book gain sale of cable Baden-Wuerttem.

 

70

 

 

 

 

 

 

 

 

 

 

 

- of which write-up of comdirect bank AG

 

40

 

 

 

 

 

 

 

 

 

 

 

- of which Goodwill Impairment MATÁV

 

-73

 

 

 

 

 

 

 

 

 

 

 

- of which Goodwill Impairment ST

 

 

 

 

 

 

 

-150

 

 

 

-150

 

- of which write-down of HT brand name

 

 

 

 

 

 

 

 

 

-14

 

-14

 

- of which write-down of daybyday

 

 

 

 

 

 

 

 

 

-6

 

-6

 

 



 

Broadband/Fixed Net

 

EBITDA Reconciliation.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Total revenue

 

6,651

 

28,295

 

27,010

 

Results from ordinary business activities

 

1,466

 

5,606

 

6,024

 

-

Financial income/ expense, net(1)

 

149

 

-15

 

479

 

-

Depreciation and amortization

 

-1,023

 

-4,747

 

-4,408

 

=

EBITDA

 

2,340

 

10,368

 

9,953

 

 

EBITDA margin

 

35.2

%

36.6

%

36.8

%

-

Special Factors affecting EBITDA

 

-169

 

-40

 

-220

 

=

Adj. EBITDA

 

2,509

 

10,408

 

10,173

 

 

Adj. EBITDA margin

 

37.7

%

36.8

%

37.7

%

 


 

T-Mobile.

 

Adjusted for specials influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

24,198

 

6,272

 

6,649

 

6,914

 

6,692

 

26,527

 

9.6

%

Net revenue

 

22,804

 

5,966

 

6,372

 

6,663

 

6,449

 

25,450

 

11.6

%

ARPU revenue

 

20,675

 

5,356

 

5,792

 

5,996

 

5,784

 

22,928

 

10.9

%

EBITDA

 

7,202

 

1,826

 

2,127

 

2,374

 

2,068

 

8,395

 

16.6

%

EBITDA margin (total revenues)

 

29.8

%

29.1

%

32.0

%

34.3

%

30.9

%

31.6

%

1.9

%p

EBITDA margin (ARPU revenues)

 

34.8

%

34.1

%

36.7

%

39.6

%

35.8

%

36.6

%

1.8

%p

Depreciation and amortization

 

-2,867

 

-685

 

-813

 

-937

 

-979

 

-3,414

 

-19.1

%

Financial income/ expense, net

 

-830

 

-274

 

-94

 

-224

 

-295

 

-887

 

-6.9

%

Income before taxes = EBT

 

3,505

 

867

 

1,220

 

1,213

 

794

 

4,094

 

16.8

%

Cash Capex

 

3,313

 

826

 

766

 

696

 

790

 

3,078

 

-7.1

%

Cash Contribution(1)

 

3,889

 

1,000

 

1,361

 

1,678

 

1,278

 

5,317

 

36.7

%

 


(1) Defined as adj. EBITDA – Cash Capex

 



 

T-Mobile.

 

Special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effects on EBITDA

 

0

 

0

 

75

 

-5

 

-2

 

68

 

- of which subsequent proceeds from sale of Virgin Mobile

 

 

 

 

 

75

 

 

 

 

 

75

 

- of which PSA Vivento

 

 

 

 

 

 

 

-5

 

-2

 

-7

 

Effects on Income before taxes = EBT

 

-536

 

0

 

-1,278

 

-2,283

 

1,048

 

-2,513

 

- of which gain on sale of MTS

 

365

 

 

 

 

 

 

 

958

 

958

 

- of which Goodwill Impairment TMUS

 

-789

 

 

 

 

 

 

 

 

 

0

 

- of which Goodwill Impairment TMH

 

-101

 

 

 

 

 

 

 

 

 

0

 

MOBIMAK

 

-11

 

 

 

 

 

 

 

 

 

0

 

- of which Impairment of FCC licenses

 

 

 

 

 

-1,353

 

 

 

92

 

-1,261

 

- of which Goodwill Impairment TMUK

 

 

 

 

 

 

 

-2,225

 

 

 

-2,225

 

EuroTel

 

 

 

 

 

 

 

-53

 

 

 

-53

 

 



 

T-Mobile.

EBITDA Reconciliation.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Total revenue

 

6,692

 

24,198

 

26,527

 

Income before taxes = EBT

 

1,842

 

2,969

 

1,581

 

-

Financial income/expense, net

 

663

 

-465

 

71

 

-

Depreciation and amortization

 

-887

 

-3,768

 

-6,953

 

=

EBITDA

 

2,066

 

7,202

 

8,463

 

 

EBITDA margin

 

30.9

%

29.8

%

31.9

%

-

Special influences affecting EBITDA

 

-2

 

0

 

68

 

=

Adj. EBITDA

 

2,068

 

7,202

 

8,395

 

 

Adj. EBITDA margin

 

30.9

%

29.8

%

31.6

%

 



 

T-Mobile.

 

Unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

24,198

 

6,272

 

6,649

 

6,914

 

6,692

 

26,527

 

9.6

%

Net revenue

 

22,804

 

5,966

 

6,372

 

6,663

 

6,449

 

25,450

 

11.6

%

EBITDA

 

7,202

 

1,826

 

2,202

 

2,369

 

2,066

 

8,463

 

17.5

%

EBITDA margin

 

29.8

%

29.1

%

33.1

%

34.3

%

30.9

%

31.9

%

2.1

%p

Depreciation and amortization

 

-3,768

 

-685

 

-2,166

 

-3,215

 

-887

 

-6,953

 

-84.5

%

Financial income/ expense, net

 

-465

 

-274

 

-94

 

-224

 

663

 

71

 

n.a.

 

Income before taxes = EBT

 

2,969

 

867

 

-58

 

-1,070

 

1,842

 

1,581

 

-46.7

%

 



 

T-Mobile

 

Customer Summary

 

Germ

 

UK

 

CZ

 

HU

 

Eurotel

 

 

 

USA

 

A

 

NL

 

HT

 

Mobimak

 

Customer Summary.

 

‘000 (end of period)

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Western Europe(1)

 

43,987

 

45,145

 

46,197

 

46,822

 

47,500

 

47,500

 

8.0

%

- of which: Germany

 

26,333

 

26,681

 

27,059

 

27,358

 

27,471

 

27,471

 

4.3

%

- of which: United Kingdom(1)

 

13,636

 

14,343

 

14,899

 

15,207

 

15,726

 

15,726

 

15.3

%

- of which: Netherlands

 

1,987

 

2,109

 

2,224

 

2,253

 

2,261

 

2,261

 

13.8

%

- of which: Austria

 

2,031

 

2,012

 

2,015

 

2,004

 

2,042

 

2,042

 

0.5

%

CE Europe

 

9,577

 

9,748

 

9,991

 

10,240

 

10,678

 

10,678

 

11.5

%

- of which: Czech Republic

 

3,947

 

3,991

 

4,075

 

4,130

 

4,360

 

4,360

 

10.5

%

- of which: Hungary

 

3,766

 

3,838

 

3,913

 

3,989

 

4,032

 

4,032

 

7.1

%

- of which: Slovakia(2)

 

1,613

 

1,685

 

1,740

 

1,807

 

1,915

 

1,915

 

18.7

%

- of which: Croatia

 

1,340

 

1,354

 

1,380

 

1,428

 

1,534

 

1,534

 

14.5

%

- of which: Macedonia

 

524

 

565

 

623

 

693

 

752

 

752

 

43.5

%

USA

 

13,128

 

14,303

 

15,394

 

16,295

 

17,314

 

17,314

 

31.9

%

Total(1)

 

66,692

 

69,197

 

71,582

 

73,358

 

75,492

 

75,492

 

13.2

%

- of which Contract Customers

 

31,023

 

32,534

 

33,985

 

35,326

 

36,556

 

36,556

 

17.8

%

% of total(1)

 

46.5

%

47.0

%

47.5

%

48.2

%

48.4

%

48.4

%

4.1

%

PTC Poland(3)

 

6,211

 

6,857

 

7,518

 

8,051

 

8,629

 

8,629

 

38.9

%

 


(1) Including Virgin Mobile

(2) To be fully consolidated and accounted for as of Q1/05

(3) Not fully consolidated

 

TMO Germany

Germany Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

26,333

 

26,681

 

27,059

 

27,358

 

27,471

 

27,471

 

4.3

%

- Contract

 

12,569

 

12,763

 

13,005

 

13,333

 

13,492

 

13,492

 

7.3

%

- Prepay

 

13,764

 

13,918

 

14,054

 

14,025

 

13,979

 

13,979

 

1.6

%

Net adds

 

1,752

 

348

 

378

 

299

 

113

 

1,138

 

-35.0

%

- Contract

 

1,054

 

194

 

242

 

328

 

159

 

923

 

-12.4

%

- Prepay

 

697

 

154

 

136

 

-29

 

-46

 

215

 

-69.2

%

Average monthly churn

 

1.4

%

1.4

%

1.4

%

1.5

%

1.6

%

1.5

%

0.1

%p

- Contract

 

1.4

%

1.2

%

1.0

%

1.1

%

1.3

%

1.1

%

-0.3

%p

 



 

Germany Financials

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

8,479

 

2,120

 

2,179

 

2,261

 

2,185

 

8,745

 

3.1

%

ARPU Revenue (million)

 

7,498

 

1,838

 

1,901

 

1,987

 

1,930

 

7,656

 

2.1

%

Adj. EBITDA (million)

 

3,675

 

803

 

880

 

958

(1)

999

 

3,640

 

-1.0

%

EBITDA margin (total rev.)

 

43.3

%

37.9

%

40.4

%

42.4

%

45.7

%

41.6

%

-1.7

%p

EBITDA margin (ARPU rev.)

 

49.0

%

43.7

%

46.3

%

48.2

%

51.8

%

47.5

%

-1.5

%p

SAC

 

93

 

94

 

100

 

112

 

100

 

101

 

8.6

%

- Contract

 

156

 

162

 

174

 

171

 

178

 

172

 

10.3

%

- Prepay

 

27

 

34

 

41

 

41

 

19

 

34

 

25.9

%

ARPU

 

25

 

23

 

24

 

24

 

24

 

24

 

-4.0

%

- Contract

 

41

 

38

 

39

 

40

 

39

 

39

 

-4.9

%

- Prepay

 

10

 

9

 

10

 

10

 

9

 

9

 

-10.0

%

Non-Voice % of ARPU

 

17

%

18

%

17

%

17

%

17

%

17

%

0

%p

Cash Capex (million)

 

548

 

111

 

166

 

98

 

106

 

481

 

-12.2

%

Adj. Cash Contribution (million)(1),(2)

 

3,127

 

692

 

714

 

860

 

893

 

3,159

 

1.0

%

 


(1) special factor affecting EBITDA: Vivento transfer payment (EUR 5 million in Q3/04 and EUR 2 million in Q4/04)

(2) Defined as adj. EBITDA minus Cash Capex

 

TMO USA

USA Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

13,128

 

14,303

 

15,394

 

16,295

 

17,314

 

17,314

 

31.9

%

- Contract

 

11,696

 

12,784

 

13,720

 

14,528

 

15,341

 

15,341

 

31.2

%

- Prepay

 

1,432

 

1,519

 

1,674

 

1,767

 

1,973

 

1,973

 

37.8

%

Net adds

 

3,212

 

1,175

 

1,091

 

901

 

1,019

 

4,186

 

30.3

%

- Contract

 

3,135

 

1,088

 

936

 

808

 

813

 

3,645

 

16.3

%

- Prepay

 

77

 

87

 

155

 

93

 

206

 

541

 

602.6

%

Average monthly churn

 

3.1

%

3.0

%

2.8

%

3.0

%

3.1

%

3.0

%

-0.1

%p

- Contract

 

2.5

%

2.6

%

2.4

%

2.6

%

2.6

%

2.6

%

0.1

%p

 

USA Financials € IFRS

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

7,363

 

2,053

 

2,317

 

2,458

 

2,450

 

9,278

 

26.0

%

ARPU Revenue (million)

 

6,161

 

1,697

 

1,971

 

2,059

 

2,038

 

7,765

 

26.0

%

EBITDA (million)

 

1,324

 

369

 

553

 

625

 

509

 

2,056

 

55.3

%

EBITDA margin (total rev.)

 

18.0

%

18.0

%

23.9

%

25.4

%

20.8

%

22.2

%

4.2

%p

EBITDA margin (ARPU rev.)

 

21.5

%

21.7

%

28.1

%

30.4

%

25.0

%

26.5

%

5.0

%p

SAC

 

187

 

177

 

159

 

149

 

156

 

160

 

-14.4

%

- Contract

 

211

 

197

 

178

 

167

 

180

 

181

 

-14.2

%

- Prepay

 

71

 

74

 

73

 

67

 

72

 

72

 

1.4

%

ARPU

 

45

 

41

 

44

 

43

 

41

 

42

 

-6.7

%

- Contract

 

47

 

43

 

46

 

46

 

43

 

45

 

-4.3

%

- Prepay

 

30

 

25

 

26

 

23

 

23

 

24

 

-20.0

%

Non-Voice% of ARPU

 

3

%

4

%

5

%

5

%

6

%

5

%

66.7

%

Cash Capex (million)

 

1,736

 

508

 

362

 

341

 

322

 

1,533

 

-11.7

%

Cash Capex (million, incl. JV)(1)

 

1,974

 

627

 

466

 

549

 

414

 

2,056

 

n.a.

 

Cash Contribution (million)(2)

 

-412

 

-139

 

191

 

284

 

187

 

523

 

-73.5

%

Cash Contribution (million, incl. JV)(1),(2)

 

-650

 

-258

 

87

 

76

 

95

 

0

 

n.a.

 

 


(1) incl. investments in California network JV

(2) Defined as adj. EBITDA minus Cash Capex

 



 

USA Financials $ IFRS

 

US$

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

8,321

 

2,568

 

2,790

 

3,004

 

3,176

 

11,538

 

38.7

%

Service Revenue (million)

 

6,962

 

2,123

 

2,373

 

2,516

 

2,643

 

9,655

 

38.7

%

EBITDA (million)

 

1,496

 

462

 

667

 

764

 

660

 

2,553

 

70.7

%

EBITDA margin (total rev.)

 

18.0

%

18.0

%

23.9

%

25.4

%

20.8

%

22.2

%

4.2

%p

EBITDA margin (ARPU rev.)

 

21.5

%

21.7

%

28.1

%

30.4

%

25.0

%

26.5

%

5.0

%p

SAC

 

211

 

222

 

192

 

182

 

202

 

199

 

-5.7

%

- Contract

 

239

 

246

 

215

 

204

 

233

 

225

 

-5.9

%

- Prepay

 

80

 

93

 

88

 

81

 

94

 

89

 

11.3

%

ARPU

 

51

 

52

 

53

 

53

 

53

 

53

 

3.9

%

- Contract

 

53

 

54

 

56

 

56

 

56

 

55

 

3.8

%

- Prepay

 

34

 

31

 

31

 

29

 

29

 

30

 

-11.8

%

Non-Voice % of ARPU

 

3

%

4

%

5

%

5

%

6

%

5

%

2

%p

Cash Capex (million)

 

1,963

 

659

 

458

 

440

 

457

 

2,014

 

2.6

%

Cash Capex (million, incl. JV)(1)

 

2,232

 

808

 

583

 

694

 

576

 

2,661

 

n.a.

 

Cash Contribution (million)(2)

 

-467

 

-197

 

209

 

324

 

203

 

539

 

-75.9

%

Cash Contribution (million, incl. JV)(1),(2)

 

-736

 

-346

 

84

 

70

 

84

 

-108

 

85.3

%

 


(1) incl. investments in California network JV

(2) Defined as adj. EBITDA minus Cash Capex

 



 

TMO UK

UK Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers(1) (end of period)

 

13,636

 

14,343

 

14,899

 

15,207

 

15,726

 

15,726

 

15.3

%

- Contract

 

2,684

 

2,743

 

2,858

 

2,940

 

2,997

 

2,997

 

11.7

%

- Prepay(1)

 

10,952

 

11,600

 

12,041

 

12,267

 

12,728

 

12,728

 

16.2

%

Net adds(1)

 

1,190

 

707

 

556

 

308

 

519

 

2,090

 

75.6

%

- Contract

 

436

 

59

 

114

 

83

 

57

 

313

 

-28.2

%

- Prepay(1)

 

754

 

648

 

441

 

225

 

462

 

1,776

 

135.5

%

Average monthly churn

 

2.9

%

1.2

%

1.9

%

2.5

%

3.0

%

2.2

%

-0.7

%p

- Contract

 

2.3

%

2.7

%

2.5

%

2.7

%

2.9

%

2.7

%

0.4

%p

 


(1) including Virgin Mobile

 

UK Financials

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

4,312

 

1,133

 

1,108

 

1,106

 

997

(3)

4,344

 

0.7

%

ARPU Revenue (million)

 

3,476

 

942

 

967

 

947

 

853

 

3,709

 

6.7

%

Adj. EBITDA (million)(2)

 

1,073

 

384

 

369

(2) 

390

 

237

 

1,380

 

28.6

%

Adj. EBITDA margin (total rev.)

 

24.9

%

33.9

%

33.3

%

35.3

%

23.8

%

31.8

%

6.9

%p

Adj. EBITDA margin (ARPU rev.)

 

30.9

%

40.8

%

38.2

%

41.2

%

27.8

%

37.2

%

6.3

%p

SAC

 

133

 

143

 

136

 

107

 

104

 

122

 

-8.3

%

- Contract

 

330

 

325

 

289

 

214

 

254

 

269

 

-18.5

%

- Prepay

 

32

 

43

 

39

 

35

 

36

 

38

 

18.8

%

ARPU

 

30

 

31

 

31

 

30

 

27

 

29

 

-3.3

%

- Contract

 

64

 

66

 

68

 

66

 

58

 

64

 

0.0

%

- Prepay

 

19

 

18

 

17

 

16

 

15

 

17

 

-10.5

%

Non-Voice % of ARPU

 

16

%

17

%

17

%

17

%

18

%

17

%

1

%p

Cash Capex (million)

 

385

 

43

 

74

 

64

 

62

 

243

 

-36.9

%

Adj. Cash Contribution (million)(2),(4)

 

688

 

341

 

295

 

326

 

175

 

1,137

 

65.3

%

 


(1) Including Virgin Mobile

(2) Special factor affecting EBITDA: Subsequent proceeds from sale of Virgin Mobile EUR 75 million.

(3) Cut in Mobile Termination Rates in September 2004.

(4) Defined as adj. EBITDA minus Cash Capex.

 

TMO Austria

Austria Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

2,031

 

2,012

 

2,015

 

2,004

 

2,042

 

2,042

 

0.5

%

- Contract

 

950

 

941

 

946

 

950

 

985

 

985

 

3.7

%

- Prepay

 

1,081

 

1,071

 

1,069

 

1,054

 

1,058

 

1,058

 

-2.1

%

Net adds

 

-5

 

-18

 

3

 

-10

 

38

 

12

 

n.a.

 

- Contract

 

21

 

-9

 

5

 

4

 

34

 

34

 

61.9

%

- Prepay

 

-27

 

-10

 

-2

 

-14

 

4

 

-23

 

14.8

%

Average monthly churn

 

1.7

%

2.0

%

1.8

%

1.7

%

1.8

%

1.8

%

0.1

%p

- Contract

 

1.3

%

1.9

%

1.3

%

1.1

%

1.2

%

1.4

%

0.1

%p

 



 

Austria Financials

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)(1)

 

1,098

 

235

 

210

 

221

 

216

 

882

 

-19.7

%

ARPU Revenue (million)

 

846

 

212

 

201

 

207

 

200

 

820

 

-3.1

%

EBITDA (million)

 

346

 

55

 

51

 

66

 

68

 

240

 

-30.6

%

EBITDA margin (total rev.)

 

31.5

%

23.4

%

24.3

%

29.9

%

31.5

%

27.2

%

-4.3

%p

EBITDA margin (ARPU rev.)

 

40.9

%

25.9

%

25.4

%

31.9

%

34.0

%

29.3

%

-11.6

%p

SAC

 

121

 

155

 

134

 

102

 

137

 

133

 

9.9

%

- Contract

 

211

 

251

 

242

 

203

 

231

 

233

 

10.4

%

- Prepay

 

41

 

52

 

58

 

33

 

45

 

47

 

14.6

%

ARPU

 

35

 

35

 

33

 

34

 

33

 

34

 

-2.9

%

- Contract

 

61

 

62

 

58

 

60

 

57

 

59

 

-3.3

%

- Prepay

 

12

 

11

 

11

 

12

 

11

 

11

 

-8.3

%

Non-Voice % of ARPU

 

9

%

9

%

9

%

9

%

10

%

9

%

0

%p

Cash Capex (million)

 

128

 

25

 

20

 

47

 

39

 

131

 

2.3

%

Cash Contribution (million)(2)

 

218

 

30

 

31

 

19

 

29

 

109

 

-50.0

%

 


(1) Stake in Niedermeyer was sold with effect starting from January 1, 2004

(2) Defined as adj. EBITDA minus Cash Capex

 

TMO Czechs

CZ Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

3,947

 

3,991

 

4,075

 

4,130

 

4,360

 

4,360

 

10.5

%

- Contract

 

889

 

947

 

1,003

 

1,050

 

1,105

 

1,105

 

24.3

%

- Prepay

 

3,058

 

3,044

 

3,072

 

3,080

 

3,255

 

3,255

 

6.4

%

Net adds

 

438

 

43

 

84

 

55

 

230

 

413

 

-5.7

%

- Contract

 

218

 

58

 

56

 

47

 

55

 

216

 

-0.9

%

- Prepay

 

220

 

-15

 

28

 

8

 

175

 

197

 

-10.5

%

Average monthly churn

 

1.0

%

1.1

%

0.9

%

1.0

%

0.9

%

1.0

%

0.0

%p

- Contract

 

0.5

%

0.6

%

0.6

%

0.5

%

0.7

%

0.6

%

0.1

%p

 



 

CZ Financials

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

757

 

186

 

203

 

213

 

225

 

827

 

9.2

%

ARPU Revenue (million)

 

707

 

173

 

194

 

202

 

204

 

773

 

9.3

%

EBITDA (million)

 

340

 

86

 

90

 

102

 

86

 

364

 

7.1

%

EBITDA margin (total rev.)

 

44.9

%

46.2

%

44.3

%

47.9

%

38.2

%

44.0

%

-0.9

%p

EBITDA margin (ARPU rev.)

 

48.1

%

49.7

%

46.4

%

50.5

%

42.2

%

47.1

%

-1.0

%p

SAC

 

32

 

27

 

33

 

32

 

16

 

25

 

-21.9

%

- Contract

 

83

 

65

 

70

 

75

 

60

 

67

 

-19.3

%

- Prepay

 

18

 

11

 

18

 

15

 

6

 

11

 

-38.9

%

ARPU

 

16

 

15

 

16

 

16

 

16

 

16

 

0.0

%

- Contract

 

40

 

37

 

39

 

39

 

39

 

39

 

-2.5

%

- Prepay

 

10

 

8

 

9

 

9

 

8

 

8

 

-20.0

%

Non-Voice % of ARPU

 

20

%

20

%

19

%

20

%

20

%

20

%

0

%p

Cash Capex (million)

 

89

 

33

 

6

 

15

 

16

 

70

 

-21.3

%

Cash Contribution (million)(1)

 

251

 

53

 

84

 

87

 

70

 

294

 

17.1

%

 


(1) Defined as adj. EBITDA minus Cash Capex

 

TMO NL

 

NL Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

1,987

 

2,109

 

2,224

 

2,253

 

2,261

 

2,261

 

13.8

%

- Contract

 

901

 

986

 

1,033

 

1,032

 

1,053

 

1,053

 

16.9

%

- Prepay

 

1,085

 

1,123

 

1,190

 

1,221

 

1,208

 

1,208

 

11.3

%

Net adds

 

550

 

123

 

114

 

29

 

8

 

274

 

-50.2

%

- Contract

 

258

 

85

 

47

 

-2

 

21

 

151

 

-41.5

%

- Prepay

 

292

 

38

 

67

 

31

 

-13

 

123

 

-57.9

%

Average monthly churn

 

2.6

%

2.3

%

2.1

%

2.3

%

3.0

%

2.4

%

-0.2

%p

- Contract

 

1.6

%

1.8

%

1.4

%

1.7

%

2.1

%

1.7

%

0.1

%p

 

NL Financials

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

860

 

250

 

267

 

270

 

259

 

1,046

 

21.6

%

ARPU Revenue (million)

 

783

 

217

 

239

 

250

 

242

 

948

 

21.1

%

EBITDA (million)

 

62

 

3

 

37

 

58

 

46

 

144

 

132.3

%

EBITDA margin (total rev.)

 

7.2

%

1.2

%

13.9

%

21.5

%

17.8

%

13.8

%

6.6

%p

EBITDA margin (ARPU rev.)

 

7.9

%

1.4

%

15.5

%

23.2

%

19.0

%

15.2

%

7.3

%p

SAC

 

146

 

237

 

164

 

114

 

186

 

180

 

23.3

%

- Contract

 

316

 

393

 

366

 

314

 

432

 

384

 

21.5

%

- Prepay

 

42

 

77

 

55

 

39

 

30

 

51

 

21.4

%

ARPU

 

38

 

35

 

37

 

37

 

36

 

36

 

-5.3

%

- Contract

 

66

 

62

 

65

 

67

 

65

 

65

 

-1.5

%

- Prepay

 

14

 

12

 

12

 

12

 

11

 

12

 

-14.3

%

Non-Voice % of ARPU

 

13

%

13

%

13

%

13

%

13

%

13

%

0

%p

Cash Capex (million)

 

161

 

15

 

17

 

26

 

50

 

108

 

-32.9

%

Cash Contribution (million)(1)

 

-99

 

-12

 

20

 

32

 

-4

 

36

 

n.a.

 

 


(1) Defined as adj. EBITDA minus Cash Capex

 



 

TMO HU

 

HU Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

3,766

 

3,838

 

3,913

 

3,989

 

4,032

 

4,032

 

7.1

%

- Contract

 

982

 

1,012

 

1,053

 

1,112

 

1,163

 

1,163

 

18.4

%

- Prepay

 

2,784

 

2,826

 

2,860

 

2,877

 

2,869

 

2,869

 

3.1

%

Net adds

 

363

 

72

 

75

 

76

 

43

 

266

 

-26.7

%

- Contract

 

131

 

30

 

41

 

59

 

51

 

181

 

38.2

%

- Prepay

 

232

 

42

 

35

 

17

 

-9

 

85

 

-63.4

%

Average monthly churn

 

1.6

%

0.8

%

1.0

%

1.7

%

1.8

%

1.3

%

-0.3

%p

- Contract

 

1.0

%

0.9

%

0.9

%

1.1

%

1.0

%

1.0

%

0.0

%p

 

HU Financials

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

999

 

235

 

266

 

274

 

274

 

1,049

 

5.0

%

ARPU Revenue (million)

 

899

 

215

 

237

 

244

 

245

 

941

 

4.7

%

EBITDA (million)

 

374

 

97

 

111

 

99

 

106

 

413

 

10.4

%

EBITDA margin (total rev.)

 

37.4

%

41.3

%

41.7

%

36.1

%

38.7

%

39.4

%

2.0

%p

EBITDA margin (ARPU rev.)

 

41.6

%

45.1

%

46.8

%

40.6

%

43.3

%

43.9

%

2.3

%p

SAC

 

49

 

40

 

42

 

48

 

37

 

42

 

-14.3

%

- Contract

 

81

 

75

 

73

 

85

 

71

 

76

 

-6.2

%

- Prepay

 

41

 

25

 

29

 

35

 

25

 

29

 

-29.3

%

ARPU

 

21

 

19

 

20

 

20

 

21

 

20

 

-4.8

%

- Contract

 

53

 

47

 

50

 

49

 

48

 

49

 

-7.5

%

- Prepay

 

11

 

9

 

10

 

10

 

10

 

9

 

-18.2

%

Non-Voice % of ARPU

 

11

%

12

%

11

%

12

%

13

%

12

%

1

%p

Cash Capex (million)

 

147

 

32

 

36

 

20

 

28

 

116

 

-21.1

%

Cash Contribution (million)(1)

 

227

 

65

 

75

 

79

 

78

 

297

 

30.8

%

 


(1) Defined as adj. EBITDA minus Cash Capex

 



 

TMO HT

 

Croatia Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

1,340

 

1,354

 

1,380

 

1,428

 

1,534

 

1,534

 

14.5

%

- Contract

 

253

 

254

 

261

 

267

 

300

 

300

 

18.6

%

- Prepay

 

1,088

 

1,100

 

1,119

 

1,161

 

1,234

 

1,234

 

13.4

%

Net adds

 

98

 

14

 

26

 

49

 

105

 

194

 

98.0

%

- Contract

 

18

 

2

 

7

 

7

 

33

 

48

 

166.7

%

- Prepay

 

80

 

12

 

19

 

42

 

73

 

146

 

82.5

%

Average monthly churn

 

1.7

%

1.4

%

1.2

%

0.8

%

0.9

%

1.1

%

-0.6

%p

- Contract

 

2.3

%

2.0

%

1.6

%

1.2

%

1.1

%

1.4

%

-0.9

%p

 

Croatia Financials

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

377

 

89

 

106

 

136

 

105

 

436

 

15.6

%

ARPU Revenue (million)

 

350

 

84

 

98

 

129

 

95

 

406

 

16.0

%

EBITDA (million)

 

160

 

37

 

50

 

79

 

27

 

193

 

20.6

%

EBITDA margin (total rev.)

 

42.4

%

41.6

%

47.2

%

58.1

%

25.7

%

44.3

%

1.9

%p

EBITDA margin (ARPU rev.)

 

45.7

%

44.0

%

51.0

%

61.2

%

28.4

%

47.5

%

1.8

%p

SAC

 

53

 

57

 

64

 

51

 

96

 

72

 

35.8

%

- Contract

 

58

 

105

 

115

 

79

 

158

 

126

 

117.2

%

- Prepay

 

52

 

41

 

47

 

45

 

71

 

54

 

3.8

%

ARPU

 

22

 

21

 

24

 

31

 

21

 

24

 

9.1

%

- Contract

 

72

 

59

 

71

 

104

 

60

 

73

 

1.4

%

- Prepay

 

11

 

12

 

13

 

14

 

12

 

13

 

18.2

%

Non-Voice % of ARPU

 

13

%

17

%

15

%

12

%

17

%

15

%

2

%p

Cash Capex (million)

 

55

 

4

 

15

 

4

 

15

 

38

 

-30.9

%

Cash Contribution (million)(1)

 

105

 

33

 

35

 

75

 

12

 

155

 

47.6

%

 


(1) Defined as adj. EBITDA minus Cash Capex

 



 

Eurotel

 

Eurotel Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

1,613

 

1,685

 

1,740

 

1,807

 

1,915

 

1,915

 

18.7

%

- Contract

 

460

 

490

 

517

 

563

 

647

 

647

 

40.7

%

- Prepay

 

1,154

 

1,195

 

1,223

 

1,244

 

1,267

 

1,267

 

9.8

%

Net adds

 

315

 

71

 

56

 

67

 

108

 

301

 

-4.4

%

- Contract

 

153

 

30

 

27

 

46

 

84

 

188

 

22.9

%

- Prepay

 

162

 

41

 

28

 

21

 

23

 

113

 

-30.2

%

Average monthly churn

 

1.3

%

1.4

%

1.2

%

1.4

%

1.6

%

1.4

%

0.1

%p

- Contract

 

0.9

%

0.8

%

0.9

%

0.8

%

1.0

%

0.9

%

0.0

%p

 

Eurotel Financials

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

271

 

75

 

80

 

85

 

91

 

332

 

22.5

%

ARPU Revenue (million)

 

240

 

68

 

73

 

79

 

83

 

303

 

26.3

%

EBITDA (million)

 

107

 

32

 

34

 

34

 

23

 

123

 

15.0

%

EBITDA margin (total rev.)

 

39.6

%

43.0

%

42.0

%

39.8

%

25.1

%

37.0

%

-2.6

%p

EBITDA margin (ARPU rev.)

 

44.7

%

47.1

%

46.1

%

43.1

%

27.7

%

40.5

%

-4.2

%p

SAC

 

33

 

28

 

28

 

35

 

41

 

34

 

3.0

%

- Contract

 

109

 

99

 

116

 

141

 

120

 

119

 

9.2

%

- Prepay

 

7

 

5

 

6

 

6

 

8

 

6

 

-14.3

%

ARPU

 

14

 

14

 

14

 

15

 

15

 

14

 

0.0

%

- Contract

 

35

 

34

 

35

 

35

 

34

 

34

 

-2.9

%

- Prepay

 

6

 

6

 

6

 

6

 

6

 

6

 

0.0

%

Non-Voice % of ARPU

 

11

%

13

%

13

%

13

%

15

%

13

%

2

%p

Cash Capex (million)

 

74

 

15

 

17

 

28

 

20

 

81

 

9.5

%

Cash Contribution (million)(2)

 

33

 

17

 

17

 

6

 

3

 

42

 

27.3

%

 


(1) Fully consolidated as of Q1/05

(2) Defined as adj. EBITDA minus Cash Capex

 

Mobimak

 

Mobimak Stats

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Customers (end of period)

 

524

 

565

 

623

 

693

 

752

 

752

 

43.5

%

- Contract

 

99

 

102

 

107

 

113

 

119

 

119

 

20.2

%

- Prepay

 

425

 

463

 

516

 

580

 

634

 

634

 

49.2

%

Net adds

 

157

 

42

 

58

 

70

 

59

 

229

 

45.9

%

- Contract

 

7

 

3

 

5

 

7

 

5

 

20

 

185.7

%

- Prepay

 

151

 

38

 

53

 

63

 

54

 

209

 

38.4

%

Average monthly churn

 

0.7

%

0.9

%

0.9

%

0.8

%

1.3

%

1.0

%

0.3

%p

- Contract

 

1.4

%

1.2

%

0.8

%

0.8

%

0.9

%

0.9

%

-0.5

%p

 

Mobimak Financials

 

‘000

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenues (million)

 

122

 

30

 

35

 

36

 

34

 

135

 

10.7

%

ARPU Revenue (million)

 

115

 

28

 

29

 

34

 

30

 

121

 

5.2

%

EBITDA (million)

 

68

 

16

 

19

 

19

 

17

 

71

 

4.4

%

EBITDA margin (total rev.)

 

55.7

%

53.3

%

54.3

%

52.8

%

50.0

%

52.6

%

-3.1

%p

EBITDA margin (ARPU rev.)

 

59.1

%

57.1

%

65.5

%

55.9

%

56.7

%

58.7

%

-0.4

%p

SAC

 

27

 

19

 

20

 

18

 

22

 

20

 

-25.9

%

- Contract

 

na

 

21

 

27

 

36

 

41

 

32

 

n.a.

 

- Prepay

 

na

 

19

 

20

 

16

 

20

 

19

 

n.a.

 

ARPU

 

na

 

17

 

16

 

17

 

14

 

16

 

n.a.

 

- Contract

 

na

 

45

 

43

 

48

 

39

 

44

 

n.a.

 

- Prepay

 

na

 

11

 

11

 

11

 

9

 

10

 

n.a.

 

Non-Voice % of ARPU

 

na

 

11

%

11

%

10

%

11

%

11

%

n.a.

 

Cash Capex (million)

 

34

 

1

 

5

 

2

 

1

 

9

 

-73.5

%

Cash Contribution (million)(1)

 

34

 

15

 

14

 

17

 

16

 

62

 

82.4

%

 


(1) Defined as adj. EBITDA minus Cash Capex

 



 

T-Systems.

 

Adjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

12,937

 

3,075

 

3,272

 

3,169

 

3,441

 

12,957

 

0.2

%

Net revenue

 

9,267

 

2,209

 

2,327

 

2,200

 

2,505

 

9,241

 

-0.3

%

EBITDA

 

1,482

 

393

 

426

 

453

 

365

 

1,638

 

10.5

%

EBITDA margin

 

11.5

%

12.8

%

13.0

%

14.3

%

10.6

%

12.6

%

1.2

%p

Depreciation and amortization

 

-1,066

 

-232

 

-243

 

-234

 

-238

 

-947

 

11.2

%

Financial income/ expense, net(1)

 

-515

 

-166

 

-24

 

-173

 

-26

 

-389

 

24.5

%

Income before taxes = EBT

 

-99

 

-4

 

159

 

46

 

101

 

302

 

n.m.

 

Capex

 

n.a.

 

n.a.

 

n.a.

 

n.a.

 

n.a.

 

n.a.

 

n.a.

 

Cash contribution

 

755

 

254

 

204

 

252

 

58

 

770

 

40.5

%

 



 

T-Systems.

 

Special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on EBITDA

 

50

 

-3

 

-43

 

-5

 

-70

 

-121

 

- of which gain of sale of Siris

 

19

 

 

 

 

 

 

 

 

 

 

 

- of which gain of sale of Telecash

 

106

 

 

 

 

 

 

 

 

 

 

 

- of which loss on sale of Multilink and T-Systems CS (Switzerland)

 

-58

 

 

 

 

 

 

 

 

 

 

 

- of which restructuring provisions

 

-7

 

-3

 

 

 

 

 

-53

 

-56

 

- of which transfer payment Vivento

 

-10

 

 

 

-43

 

-14

 

-17

 

-74

 

- of which gain of sale of cc-chemplorer

 

 

 

 

 

 

 

9

 

 

 

9

 

Effect on Income before taxes = EBT

 

50

 

-3

 

-43

 

-5

 

-70

 

-121

 

 



 

T-Systems.

 

Unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

%

 

Total revenue

 

12,937

 

3,075

 

3,272

 

3,169

 

3,441

 

12,957

 

0.2

%

0.2

%

Net revenue

 

9,267

 

2,209

 

2,327

 

2,200

 

2,505

 

9,241

 

-0.3

%

-0.3

%

EBITDA

 

1,532

 

390

 

383

 

448

 

295

 

1,517

 

-1.0

%

-1.0

%

EBITDA margin

 

11.8

%

12.7

%

11.7

%

14.1

%

8.6

%

11.7

%

-0.1

%p

 

 

Depreciation and amortization

 

-1,066

 

-232

 

-243

 

-234

 

-238

 

-947

 

11.2

%

11.2

%

Financial income/ expense, net(1)

 

-515

 

-166

 

-24

 

-173

 

-26

 

-389

 

24.5

%

24.5

%

Income before taxes = EBT

 

-49

 

-7

 

116

 

41

 

31

 

181

 

n.m.

 

n.a.

 

 



 

T-Systems.

 

EBITDA Reconciliation.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Total revenue

 

3,441

 

12,937

 

12,957

 

Income before taxes = EBT

 

31

 

-49

 

181

 

=

EBT

 

31

 

-49

 

181

 

-

Special influences affecting EBT

 

-70

 

50

 

-121

 

=

Adj. EBT

 

101

 

-99

 

302

 

-

Financial income/ expense, net(1)

 

-26

 

-515

 

-389

 

-

Depreciation and amortization

 

-238

 

-1,066

 

-947

 

=

EBITDA

 

295

 

1,532

 

1,517

 

 

EBITDA margin

 

8.6

%

11.8

%

11.7

%

-

Special influences affecting EBITDA

 

-70

 

50

 

-121

 

=

Adj. EBITDA

 

365

 

1,482

 

1,638

 

 

Adj. EBITDA margin

 

10.6

%

11.5

%

12.6

%

 



 

T-Systems Enterprise Services.

 

Summary

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

8,235

 

1,907

 

2,102

 

2,039

 

2,200

 

8,248

 

0.2

%

Adj. EBITDA

 

1,422

 

319

 

328

 

369

 

249

 

1,265

 

-11.0

%

Adj. EBITDA margin

 

17.3

%

16.7

%

15.6

%

18.1

%

11.3

%

15.3

%

-1.9

%p

Capex

 

768

 

114

 

171

 

159

 

257

 

701

 

-8.7

%

Cash contribution

 

654

 

205

 

157

 

210

 

-8

 

564

 

-13.8

%

Headcount (average number)

 

36,554

 

35,110

 

35,520

 

35,860

 

35,626

 

35,529

 

-2.8

%

 



 

T-Systems Business Services.

 

Summary

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

4,702

 

1,168

 

1,170

 

1,129

 

1,242

 

4,709

 

0.1

%

Adj. EBITDA

 

60

 

74

 

99

 

84

 

116

 

373

 

521.7

%

Adj. EBITDA margin

 

1.3

%

6.3

%

8.5

%

7.4

%

9.2

%

7.8

%

6.6

%p

Capex

 

166

 

25

 

51

 

42

 

50

 

167

 

0.6

%

Cash contribution

 

-106

 

49

 

48

 

42

 

-64

 

75

 

n.a.

 

Headcount (average number)

 

17,836

 

17,247

 

17,210

 

15,734

 

15,606

 

15,449

 

-13.4

%

 



 

“Group Headquarters & Shared Services”

 

Adjusted for specials influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

3,271

 

866

 

882

 

887

 

891

 

3,526

 

7.8

%

Net revenue

 

235

 

64

 

67

 

56

 

73

 

260

 

10.6

%

EBITDA

 

-503

 

-87

 

-165

 

-22

 

-274

 

-548

 

-8.9

%

- of which Vivento

 

0

 

-175

 

-272

 

-148

 

-199

 

-794

 

n.a.

 

EBITDA margin

 

-15.4

%

-10.0

%

-18.7

%

-2.5

%

-30.8

%

-15.5

%

-0.1

%p

Depreciation and amortization

 

-771

 

-204

 

-196

 

-237

 

-239

 

-876

 

-13.6

%

Financial income/expense, net

 

-3,487

 

-812

 

-743

 

-666

 

-725

 

-2,946

 

15.5

%

Income before taxes = EBT

 

-4,761

 

-1,103

 

-1,104

 

-925

 

-1,238

 

-4,370

 

8.2

%

Cash capex

 

461

 

56

 

165

 

133

 

164

 

518

 

12.4

%

 



 

“Group Headquarters & Shared Services”

 

Special influences.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

Effect on EBITDA

 

107

 

-33

 

43

 

21

 

-39

 

-8

 

- of which transfer payment Vivento

 

131

 

 

 

43

 

21

 

19

 

83

 

- Accrual

 

 

 

 

 

 

 

 

 

-51

 

-51

 

- Accruals for reduction of personnel

 

-24

 

-33

 

 

 

 

 

-7

 

-40

 

Effects on Income before taxes = EBT

 

266

 

-33

 

135

 

21

 

127

 

250

 

 



 

“Group Headquarters & Shared Services”

 

EBITDA Reconciliation.

 

€ million

 

Q4/04

 

FY/03

 

FY/04

 

Total revenue

 

891

 

3,271

 

3,526

 

Income before taxes = EBT

 

-1,111

 

-4,495

 

-4,120

 

-

Financial income/expense, net

 

-559

 

-3,328

 

-2,688

 

-

Depreciation and amortization

 

-239

 

-771

 

-876

 

=

EBITDA

 

-313

 

-396

 

-556

 

 

EBITDA margin

 

-35.1

%

-12.1

%

-15.8

%

-

Special influences affecting EBITDA

 

-39

 

107

 

-8

 

=

Adj. EBITDA

 

-274

 

-503

 

-548

 

 

Adj. EBITDA margin

 

-30.8

%

-15.4

%

-15.5

%

 



 

“Group Headquarters & Shared Services”

 

Unadjusted.

 

€ million

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

% y.o.y.

 

Total revenue

 

3,271

 

866

 

882

 

887

 

891

 

3,526

 

7.8

%

Net revenue

 

235

 

64

 

67

 

56

 

73

 

260

 

10.6

%

EBITDA

 

-396

 

-120

 

-122

 

-1

 

-313

 

-556

 

-40.4

%

- of which Vivento

 

0

 

-208

 

-229

 

-117

 

-185

 

-739

 

n.a.

 

EBITDA margin

 

-12.1

%

-13.9

%

-13.8

%

-0.1

%

-35.1

%

-15.8

%

-3.7

%p

Depreciation and amortization

 

-771

 

-204

 

-196

 

-237

 

-239

 

-876

 

-13.6

%

Financial income/ expense, net

 

-3,328

 

-812

 

-651

 

-666

 

-559

 

-2,688

 

19.2

%

Income before taxes = EBT

 

-4,495

 

-1,136

 

-969

 

-904

 

-1,111

 

-4,120

 

8

%

 



 

Exchange Rates.

 

Average.

 

 

FY/03

 

Q1/04

 

Q2/04

 

Q3/04

 

Q4/04

 

FY/04

 

1 US-Dollar (USD)

 

0.84148

 

0.88492

 

0.79953

 

0.83033

 

0.81840

 

0.81580

 

1 British Pound (GBP)

 

1.43370

 

1.44585

 

1.46948

 

1.49879

 

1.48754

 

1.48508

 

100 Czechs Koruna (CZK)

 

3.11907

 

3.14101

 

3.04350

 

3.12105

 

3.16509

 

3.11073

 

100 Croatian Kuna (HRK)

 

13.10630

 

13.21220

 

13.14380

 

13.44700

 

13.52170

 

13.37200

 

1000 Hungarian Forint (HUF)

 

3.84949

 

3.94347

 

3.84654

 

3.97090

 

4.02139

 

3.94650

 

100 Slovak Krona (SKK)

 

2.42820

 

2.41004

 

2.46536

 

2.49514

 

2.49849

 

2.48648

 

 



 

Exchange Rates.

 

End of period.

 

 

31/12/03

 

31/03/04

 

30/06/04

 

30/09/04

 

31/12/04

 

1 US-Dollar (USD)

 

0.85573

 

0.79340

 

0.81793

 

0.82251

 

0.81077

 

1 British Pound (GBP)

 

1.43145

 

1.41663

 

1.50039

 

1.49010

 

1.45817

 

100 Czechs Koruna (CZK)

 

3.14179

 

3.08873

 

3.04442

 

3.14684

 

3.15847

 

100 Croatian Kuna (HRK)

 

13.25580

 

13.11000

 

13.37980

 

13.61490

 

13.19060

 

1000 Hungarian Forint (HUF)

 

3.92126

 

3.79407

 

4.01801

 

3.97789

 

4.04106

 

100 Slovak Krona (SKK)

 

2.42925

 

2.43000

 

2.49252

 

2.50784

 

2.49657

 

 



 

Step 1: IFRS. Deutsche Telekom Group Ger. GAAP

 

Ger. GAAP
adjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

1

 

55,838

 

13,986

 

14,412

 

14,524

 

14,958

 

57,880

 

Cost of sales

 

 

 

(31,233

)

(7,570

)

(7,766

)

(7,849

)

(8,140

)

(31,325

)

Gross profit from sales

 

 

 

24,605

 

6,416

 

6,646

 

6,675

 

6,818

 

26,555

 

Selling costs

 

 

 

(13,420

)

(3,295

)

(3,274

)

(3,014

)

(3,675

)

(13,258

)

General administrative costs

 

 

 

(4,635

)

(1,105

)

(1,129

)

(1,060

)

(1,249

)

(4,543

)

Other operating income

 

 

 

3,402

 

731

 

780

 

719

 

908

 

3,138

 

Other operating expenses

 

 

 

(4,710

)

(1,222

)

(1,308

)

(1,094

)

(1,348

)

(4,972

)

Operating results

 

2

 

5,242

 

1,525

 

1,715

 

2,226

 

1,454

 

6,920

 

Financial income (expense), net

 

3

 

(4,120

)

(1,110

)

(681

)

(793

)

(743

)

(3,327

)

of which interest expenses

 

 

 

(3,776

)

(973

)

(795

)

(836

)

(747

)

(3,351

)

Income (loss) before income taxes

 

4

 

1,122

 

415

 

1,034

 

1,433

 

711

 

3,593

 

Income taxes

 

5

 

(530

)

(91

)

(213

)

(340

)

(399

)

(1,043

)

Income (loss) after taxes

 

6

 

592

 

324

 

821

 

1,093

 

312

 

2,550

 

Income (losses) applicable to minority shareholders

 

7

 

(370

)

(97

)

(93

)

(104

)

(60

)

(354

)

Net income (loss)

 

8

 

222

 

227

 

728

 

989

 

252

 

2,196

 

EBIT

 

9

 

5,404

 

1,569

 

1,768

 

2,273

 

1,509

 

7,119

 

EBIT margin

 

 

 

9.7

%

11.2

%

12.3

%

15.6

%

10.1

%

12.3

%

EBITDA

 

10

 

18,288

 

4,585

 

4,783

 

5,264

 

4,732

 

19,364

 

EBITDA margin

 

 

 

32.8

%

32.8

%

33.2

%

36.2

%

31.6

%

33.5

%

Depreciation and amortization

 

11

 

(12,884

)

(3,016

)

(3,015

)

(2,991

)

(3,225

)

(12,245

)

Capex

 

12

 

6,234

 

1,019

 

1,517

 

1,275

 

2,125

 

5,936

 

Free-Cash-Flow (before dividend)

 

13

 

8,285

 

2,900

 

1,294

 

2,391

 

3,595

 

10,180

 

Net debt in € billion

 

14

 

46.6

 

44.6

 

43.3

 

40.8

 

35.2

 

35.2

 

 



 

Ger. GAAP
unadjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

1

 

55,838

 

13,986

 

14,412

 

14,524

 

14,958

 

57,880

 

Cost of sales

 

 

 

(31,402

)

(7,570

)

(7,766

)

(7,849

)

(8,217

)

(31,402

)

Gross profit from sales

 

 

 

24,436

 

6,416

 

6,646

 

6,675

 

6,741

 

26,478

 

Selling costs

 

 

 

(13,505

)

(3,295

)

(3,274

)

(3,014

)

(3,699

)

(13,282

)

General administrative costs

 

 

 

(4,976

)

(1,105

)

(1,129

)

(1,060

)

(1,386

)

(4,680

)

Other operating income

 

 

 

4,558

 

731

 

2,758

 

1,369

 

2,078

 

6,936

 

Other operating expenses

 

 

 

(5,084

)

(1,291

)

(1,914

)

(1,203

)

(1,176

)

(5,584

)

Operating results

 

2

 

5,429

 

1,456

 

3,087

 

2,767

 

2,558

 

9,868

 

Financial income (expense), net

 

3

 

(4,031

)

(1,110

)

(681

)

(793

)

(743

)

(3,327

)

of which interest expenses

 

 

 

(3,776

)

(973

)

(795

)

(836

)

(747

)

(3,351

)

Income (loss) before income taxes

 

4

 

1,398

 

346

 

2,406

 

1,974

 

1,815

 

6,541

 

Income taxes

 

5

 

225

 

(80

)

(658

)

(483

)

(387

)

(1,608

)

Income (loss) after taxes

 

6

 

1,623

 

266

 

1,748

 

1,491

 

1,428

 

4,933

 

Income (losses) applicable to minority shareholders

 

7

 

(370

)

(97

)

(93

)

(104

)

(5

)

(299

)

Net income (loss)

 

8

 

1,253

 

169

 

1,655

 

1,387

 

1,423

 

4,634

 

EBIT

 

9

 

5,591

 

1,500

 

3,140

 

2,814

 

2,613

 

10,067

 

EBIT margin

 

 

 

10.0

%

10.7

%

21.8

%

19.4

%

17.5

%

17.4

%

EBITDA

 

10

 

18,475

 

4,516

 

6,155

 

5,805

 

5,839

 

22,315

 

EBITDA margin

 

 

 

33.1

%

32.3

%

42.7

%

40.0

%

39.0

%

38.6

%

Depreciation and amortization

 

11

 

(12,884

)

(3,016

)

(3,015

)

(2,991

)

(3,226

)

(12,248

)

Capex

 

12

 

6,234

 

1,019

 

1,517

 

1,275

 

2,125

 

5,936

 

Free-Cash-Flow (before dividend)

 

13

 

8,285

 

2,900

 

1,294

 

2,391

 

3,595

 

10,180

 

Net debt in € billion

 

14

 

46.6

 

44.6

 

43.3

 

40.8

 

35.2

 

35.2

 

 



 

Ger. GAAP
Special influences

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

1

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

 

(169

)

0

 

0

 

0

 

(77

)

(77

)

Gross profit from sales

 

 

 

(169

)

0

 

0

 

0

 

(77

)

(77

)

Selling costs

 

 

 

(85

)

0

 

0

 

0

 

(24

)

(24

)

General administrative costs

 

 

 

(341

)

0

 

0

 

0

 

(137

)

(137

)

Other operating income

 

 

 

1,156

 

0

 

1,978

 

650

 

1,170

 

3,798

 

Other operating expenses

 

 

 

(374

)

(69

)

(606

)

(109

)

172

 

(612

)

Operating results

 

2

 

187

 

(69

)

1,372

 

541

 

1,104

 

2,948

 

Financial income (expense), net

 

3

 

89

 

0

 

0

 

0

 

0

 

0

 

of which interest expenses

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

Income (loss) before income taxes

 

4

 

276

 

(69

)

1,372

 

541

 

1,104

 

2,948

 

Income taxes

 

5

 

755

 

11

 

(445

)

(143

)

12

 

(565

)

Income (loss) after taxes

 

6

 

1,031

 

(58

)

927

 

398

 

1,116

 

2,383

 

Income (losses) applicable to minority shareholders

 

7

 

0

 

0

 

0

 

0

 

55

 

55

 

Net income (loss)

 

8

 

1,031

 

(58

)

927

 

398

 

1,171

 

2,438

 

EBIT

 

9

 

187

 

(69

)

1,372

 

541

 

1,104

 

2,948

 

EBIT margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

10

 

187

 

(69

)

1,372

 

541

 

1,107

 

2,951

 

EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

11

 

0

 

0

 

0

 

0

 

(1

)

(3

)

Capex

 

12

 

 

 

 

 

 

 

 

 

 

 

 

 

Free-Cash-Flow (before dividend)

 

13

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt in € billion

 

14

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Step 1: IFRS. Deutsche Telekom Group IFRS

 

IFRS adjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

1

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

Cost of sales

 

 

 

(29,347

)

(7,219

)

(7,618

)

(7,514

)

(7,872

)

(30,223

)

Gross profit from sales

 

 

 

26,156

 

6,671

 

6,759

 

6,839

 

6,868

 

27,137

 

Selling costs

 

 

 

(12,742

)

(3,207

)

(3,072

)

(3,031

)

(3,503

)

(12,813

)

General administrative costs

 

 

 

(4,515

)

(1,034

)

(1,148

)

(1,002

)

(1,184

)

(4,368

)

Other operating income

 

 

 

1,851

 

361

 

398

 

396

 

479

 

1,634

 

Other operating expenses

 

 

 

(1,508

)

(306

)

(375

)

(331

)

(380

)

(1,392

)

Operating results

 

2

 

9,242

 

2,485

 

2,562

 

2,871

 

2,280

 

10,198

 

Financial income (expense), net

 

3

 

(4,878

)

(1,224

)

(788

)

(1,024

)

(937

)

(3,973

)

of which interest expenses

 

 

 

(3,880

)

(937

)

(919

)

(864

)

(779

)

(3,499

)

Income (loss) before income taxes

 

4

 

4,364

 

1,261

 

1,774

 

1,847

 

1,343

 

6,225

 

Income taxes

 

5

 

(1,634

)

(440

)

(430

)

(560

)

(657

)

(2,087

)

Income (loss) after taxes

 

6

 

2,730

 

821

 

1,344

 

1,287

 

686

 

4,138

 

Income (losses) applicable to minority shareholders

 

7

 

(457

)

(130

)

(122

)

(135

)

(94

)

(481

)

Net income (loss)

 

8

 

2,273

 

691

 

1,222

 

1,152

 

592

 

3,657

 

EBIT

 

9

 

9,242

 

2,485

 

2,562

 

2,871

 

2,280

 

10,198

 

EBIT margin

 

 

 

16.7

%

17.9

%

17.8

%

20.0

%

15.5

%

17.8

%

EBITDA

 

10

 

18,572

 

4,675

 

4,923

 

5,293

 

4,726

 

19,617

 

EBITDA margin

 

 

 

33.5

%

33.7

%

34.2

%

36.9

%

32.1

%

34.2

%

Depreciation and amortization

 

11

 

(9,330

)

(2,190

)

(2,361

)

(2,422

)

(2,446

)

(9,419

)

Capex

 

12

 

7,502

 

910

 

1,680

 

1,478

 

2,443

 

6,511

 

Free-Cash-Flow (before dividend)

 

13

 

8,691

 

2,951

 

1,325

 

2,440

 

3,595

 

10,311

 

Net debt in € billion

 

14

 

50.7

 

48.9

 

47.3

 

44.7

 

39.6

 

39.6

 

 



 

IFRS unadjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

1

 

55,503

 

13,890

 

14,377

 

14,353

 

14,740

 

57,360

 

Cost of sales

 

 

 

(29,369

)

(7,219

)

(8,971

)

(7,515

)

(7,854

)

(31,559

)

Gross profit from sales

 

 

 

26,134

 

6,671

 

5,406

 

6,838

 

6,886

 

25,801

 

Selling costs

 

 

 

(12,747

)

(3,207

)

(3,072

)

(3,032

)

(3,526

)

(12,837

)

General administrative costs

 

 

 

(4,596

)

(1,034

)

(1,148

)

(1,016

)

(1,307

)

(4,505

)

Other operating income

 

 

 

2,359

 

361

 

473

 

405

 

479

 

1,718

 

Other operating expenses

 

 

 

(2,765

)

(375

)

(375

)

(2,852

)

(314

)

(3,916

)

Operating results

 

2

 

8,385

 

2,416

 

1,284

 

343

 

2,218

 

6,261

 

Financial income (expense), net

 

3

 

(4,247

)

(1,224

)

(696

)

(1,024

)

201

 

(2,743

)

of which interest expenses

 

 

 

(3,880

)

(937

)

(919

)

(864

)

(779

)

(3,499

)

Income (loss) before income taxes

 

4

 

4,138

 

1,192

 

588

 

(681

)

2,419

 

3,518

 

Income taxes

 

5

 

(1,744

)

(430

)

111

 

(543

)

(666

)

(1,528

)

Income (loss) after taxes

 

6

 

2,394

 

762

 

699

 

(1,224

)

1,753

 

1,990

 

Income (losses) applicable to minority shareholders

 

7

 

(457

)

(130

)

(122

)

(135

)

(39

)

(426

)

Net income (loss)

 

8

 

1,937

 

632

 

577

 

(1,359

)

1,714

 

1,564

 

EBIT

 

9

 

8,385

 

2,416

 

1,284

 

343

 

2,218

 

6,261

 

EBIT margin

 

 

 

15.1

%

17.4

%

8.9

%

2.4

%

15.0

%

10.9

%

EBITDA

 

10

 

18,689

 

4,606

 

4,998

 

5,193

 

4,592

 

19,389

 

EBITDA margin

 

 

 

33.7

%

33.2

%

34.8

%

36.2

%

31.2

%

33.8

%

Depreciation and amortization

 

11

 

(10,304

)

(2,190

)

(3,714

)

(4,850

)

(2,374

)

(13,128

)

Capex

 

12

 

7,502

 

910

 

1,680

 

1,478

 

2,443

 

6,511

 

Free-Cash-Flow (before dividend)

 

13

 

8,691

 

2,951

 

1,325

 

2,440

 

3,595

 

10,311

 

Net debt in € billion

 

14

 

50.7

 

48.9

 

47.3

 

44.7

 

39.6

 

39.6

 

 



 

IFRS
Special influences

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

15

 

(22

)

0

 

(1,353

)

(1

)

18

 

(1,336

)

Gross profit from sales

 

 

 

(22

)

0

 

(1,353

)

(1

)

18

 

(1,336

)

Selling costs

 

16

 

(5

)

0

 

0

 

(1

)

(23

)

(24

)

General administrative costs

 

17

 

(81

)

0

 

0

 

(14

)

(123

)

(137

)

Other operating income

 

18

 

508

 

0

 

75

 

9

 

0

 

84

 

Other operating expenses

 

19

 

(1,257

)

(69

)

0

 

(2,521

)

66

 

(2,524

)

Operating results

 

 

 

(857

)

(69

)

(1,278

)

(2,528

)

(62

)

(3,937

)

Financial income (expense), net

 

20

 

631

 

0

 

92

 

0

 

1,138

 

1,230

 

of which interest expenses

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

Income (loss) before income taxes

 

21

 

(226

)

(69

)

(1,186

)

(2,528

)

1,076

 

(2,707

)

Income taxes

 

22

 

(110

)

10

 

541

 

17

 

(9

)

559

 

Income (loss) after taxes

 

 

 

(336

)

(59

)

(645

)

(2,511

)

1,067

 

(2,148

)

Income (losses) applicable to minority shareholders

 

23

 

0

 

0

 

0

 

0

 

55

 

55

 

Net income (loss)

 

24

 

(336

)

(59

)

(645

)

(2,511

)

1,122

 

(2,093

)

EBIT

 

25

 

(857

)

(69

)

(1,278

)

(2,528

)

(62

)

(3,937

)

EBIT margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

26

 

117

 

(69

)

75

 

(100

)

(134

)

(228

)

EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

27

 

(974

)

0

 

(1,353

)

(2,428

)

72

 

(3,709

)

Capex

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free-Cash-Flow (before dividend)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt in € billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Step 1: IFRS. Deutsche Telekom Group Delta

 

Delta IFRS
adjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

1

 

(335

)

(96

)

(35

)

(171

)

(218

)

(520

)

Cost of sales

 

 

 

1,886

 

351

 

148

 

335

 

268

 

1,102

 

Gross profit from sales

 

 

 

1,551

 

255

 

113

 

164

 

50

 

582

 

Selling costs

 

 

 

678

 

88

 

202

 

(17

)

172

 

445

 

General administrative costs

 

 

 

120

 

71

 

(19

)

58

 

65

 

175

 

Other operating income

 

 

 

(1,551

)

(370

)

(382

)

(323

)

(429

)

(1,504

)

Other operating expenses

 

 

 

3,202

 

916

 

933

 

763

 

968

 

3,580

 

Operating results

 

2

 

4,000

 

960

 

847

 

645

 

826

 

3,278

 

Financial income (expense), net

 

3

 

(758

)

(114

)

(107

)

(231

)

(194

)

(646

)

of which interest expenses

 

 

 

(104

)

36

 

(124

)

(28

)

(32

)

(148

)

Income (loss) before income taxes

 

4

 

3,242

 

846

 

740

 

414

 

632

 

2,632

 

Income taxes

 

5

 

(1,104

)

(349

)

(217

)

(220

)

(258

)

(1,044

)

Income (loss) after taxes

 

6

 

2,138

 

497

 

523

 

194

 

374

 

1,588

 

Income (losses) applicable to minority shareholders

 

7

 

(87

)

(33

)

(29

)

(31

)

(34

)

(127

)

Net income (loss)

 

8

 

2,051

 

464

 

494

 

163

 

340

 

1,461

 

EBIT

 

9

 

3,838

 

916

 

794

 

598

 

771

 

3,079

 

EBIT margin

 

 

 

7.0

%pts

6.7

%pts

5.5

%pts

4.4

%pts

5.4

%pts

5.5

%pts

EBITDA

 

10

 

284

 

90

 

140

 

29

 

(6

)

253

 

EBITDA margin

 

 

 

0.7

%pts

0.9

%pts

1.0

%pts

0.7

%pts

0.4

%pts

0.7

%pts

Depreciation and amortization

 

11

 

3,554

 

826

 

654

 

569

 

779

 

2,826

 

Capex

 

12

 

1,268

 

(109

)

163

 

203

 

318

 

575

 

Free-Cash-Flow (before dividend)

 

13

 

406

 

51

 

31

 

49

 

0

 

131

 

Net debt in € billion

 

14

 

4.1

 

4.3

 

4.0

 

3.9

 

4.4

 

4.4

 

 



 

Delta IFRS
unadjusted

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

1

 

(335

)

(96

)

(35

)

(171

)

(218

)

(520

)

Cost of sales

 

 

 

2,033

 

351

 

(1,205

)

334

 

363

 

(157

)

Gross profit from sales

 

 

 

1,698

 

255

 

(1,240

)

163

 

145

 

(677

)

Selling costs

 

 

 

758

 

88

 

202

 

(18

)

173

 

445

 

General administrative costs

 

 

 

380

 

71

 

(19

)

44

 

79

 

175

 

Other operating income

 

 

 

(2,199

)

(370

)

(2,285

)

(964

)

(1,599

)

(5,218

)

Other operating expenses

 

 

 

2,319

 

916

 

1,539

 

(1,649

)

862

 

1,668

 

Operating results

 

2

 

2,956

 

960

 

(1,803

)

(2,424

)

(340

)

(3,607

)

Financial income (expense), net

 

3

 

(216

)

(114

)

(15

)

(231

)

944

 

584

 

of which interest expenses

 

 

 

(104

)

36

 

(124

)

(28

)

(32

)

(148

)

Income (loss) before income taxes

 

4

 

2,740

 

846

 

(1,818

)

(2,655

)

604

 

(3,023

)

Income taxes

 

5

 

(1,969

)

(350

)

769

 

(60

)

(279

)

80

 

Income (loss) after taxes

 

6

 

771

 

496

 

(1,049

)

(2,715

)

325

 

(2,943

)

Income (losses) applicable to minority shareholders

 

7

 

(87

)

(33

)

(29

)

(31

)

(34

)

(127

)

Net income (loss)

 

8

 

684

 

463

 

(1,078

)

(2,746

)

291

 

(3,070

)

EBIT

 

9

 

2,794

 

916

 

(1,856

)

(2,471

)

(395

)

(3,806

)

EBIT margin

 

 

 

5.1

%pts

6.7

%pts

(12.9

)%pts

(17.0

)%pts

(2.4

)%pts

(6.5

)%pts

EBITDA

 

10

 

214

 

90

 

(1,157

)

(612

)

(1,247

)

(2,926

)

EBITDA margin

 

 

 

0.6

%pts

0.9

%pts

(7.9

)%pts

(3.8

)%pts

(7.9

)%pts

(4.8

)%pts

Depreciation and amortization

 

11

 

2,580

 

826

 

(699

)

(1,859

)

852

 

(880

)

Capex

 

12

 

1,268

 

(109

)

163

 

203

 

318

 

575

 

Free-Cash-Flow (before dividend)

 

13

 

406

 

51

 

31

 

49

 

0

 

131

 

Net debt in € billion

 

14

 

4.1

 

4.3

 

4.0

 

3.9

 

4.4

 

4.4

 

 



 

Delta IFRS
Special influences

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

15

 

147

 

0

 

(1,353

)

(1

)

95

 

(1,259

)

Gross profit from sales

 

 

 

147

 

0

 

(1,353

)

(1

)

95

 

(1,259

)

Selling costs

 

16

 

80

 

0

 

0

 

(1

)

1

 

0

 

General administrative costs

 

17

 

260

 

0

 

0

 

(14

)

14

 

0

 

Other operating income

 

18

 

(648

)

0

 

(1,903

)

(641

)

(1,170

)

(3,714

)

Other operating expenses

 

19

 

(883

)

0

 

606

 

(2,412

)

(106

)

(1,912

)

Operating results

 

 

 

(1,044

)

0

 

(2,650

)

(3,069

)

(1,166

)

(6,885

)

Financial income (expense), net

 

20

 

542

 

0

 

92

 

0

 

1,138

 

1,230

 

of which interest expenses

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

Income (loss) before income taxes

 

21

 

(502

)

0

 

(2,558

)

(3,069

)

(28

)

(5,655

)

Income taxes

 

22

 

(865

)

(1

)

986

 

160

 

(21

)

1,124

 

Income (loss) after taxes

 

 

 

(1,367

)

(1

)

(1,572

)

(2,909

)

(49

)

(4,531

)

Income (losses) applicable to minority shareholders

 

23

 

0

 

0

 

0

 

0

 

0

 

0

 

Net income (loss)

 

24

 

(1,367

)

(1

)

(1,572

)

(2,909

)

(49

)

(4,531

)

EBIT

 

25

 

(1,044

)

0

 

(2,650

)

(3,069

)

(1,166

)

(6,885

)

EBIT margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

26

 

(70

)

0

 

(1,297

)

(641

)

(1,241

)

(3,179

)

EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

27

 

(974

)

0

 

(1,353

)

(2,428

)

73

 

(3,706

)

Capex

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free-Cash-Flow (before dividend)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt in € billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Step 1: IFRS. T-Com

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

28

 

29,206

 

6,975

 

6,882

 

6,806

 

7,151

 

27,814

 

of which domestic

 

 

 

25,351

 

6,059

 

5,906

 

5,791

 

6,165

 

23,921

 

of which CEE

 

 

 

3,855

 

916

 

976

 

1,015

 

986

 

3,893

 

Net Revenue

 

29

 

25,116

 

6,053

 

6,054

 

6,007

 

6,311

 

24,425

 

EBITDA

 

30

 

10,164

 

2,605

 

2,592

 

2,576

 

2,467

 

10,240

 

of which domestic

 

 

 

8,541

 

2,181

 

2,156

 

2,115

 

2,210

 

8,662

 

of which CEE

 

 

 

1,623

 

424

 

436

 

461

 

257

 

1,578

 

EBITDA margin

 

 

 

34.8

%

37.3

%

37.7

%

37.8

%

34.4

%

36.8

%

Special factors affecting EBITDA

 

31

 

(192

)

(36

)

0

 

(17

)

(173

)

(226

)

EBITDA, adj.

 

32

 

10,356

 

2,641

 

2,592

 

2,593

 

2,640

 

10,466

 

of which domestic

 

 

 

8,667

 

2,217

 

2,156

 

2,116

 

2,249

 

8,738

 

of which CEE

 

 

 

1,689

 

424

 

436

 

477

 

391

 

1,728

 

EBITDA margin, adj.

 

 

 

35.5

%

37.9

%

37.7

%

38.1

%

36.9

%

37.6

%

Depreciation and amortization

 

33

 

(5,169

)

(1,184

)

(1,204

)

(1,158

)

(1,244

)

(4,790

)

Financial income (expense), net

 

34

 

(284

)

(15

)

28

 

45

 

53

 

111

 

Income (loss) before income taxes

 

35

 

4,690

 

1,399

 

1,405

 

1,455

 

1,266

 

5,525

 

Capex

 

36

 

2,129

 

384

 

521

 

518

 

907

 

2,330

 

of which domestic

 

 

 

1,516

 

292

 

380

 

384

 

564

 

1,620

 

of which CEE

 

 

 

613

 

92

 

141

 

134

 

343

 

710

 

Number of employees

 

 

 

139,548

 

125,700

 

125,782

 

125,914

 

124,184

 

125,395

 

of which domestic

 

 

 

106,571

 

94,506

 

94,943

 

95,583

 

94,937

 

94,992

 

 



 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

28

 

27,884

 

6,632

 

6,544

 

6,369

 

6,708

 

26,253

 

of which domestic

 

 

 

25,225

 

6,005

 

5,894

 

5,727

 

6,067

 

23,693

 

of which CEE

 

 

 

2,659

 

627

 

650

 

642

 

641

 

2,560

 

Net Revenue

 

29

 

23,696

 

5,685

 

5,670

 

5,524

 

5,828

 

22,707

 

EBITDA

 

30

 

9,819

 

2,450

 

2,428

 

2,368

 

2,292

 

9,538

 

of which domestic

 

 

 

8,851

 

2,184

 

2,174

 

2,119

 

2,198

 

8,675

 

of which CEE

 

 

 

968

 

266

 

254

 

249

 

94

 

863

 

EBITDA margin

 

 

 

35.2

%

36.9

%

37.1

%

37.2

%

34.2

%

36.3

%

Special factors affecting EBITDA

 

31

 

(57

)

(36

)

0

 

(17

)

(171

)

(224

)

EBITDA, adj.

 

32

 

9,876

 

2,486

 

2,428

 

2,385

 

2,463

 

9,762

 

of which domestic

 

 

 

8,842

 

2,220

 

2,174

 

2,120

 

2,219

 

8,733

 

of which CEE

 

 

 

1,034

 

266

 

254

 

265

 

244

 

1,029

 

EBITDA margin, adj.

 

 

 

35.4

%

37.5

%

37.1

%

37.4

%

36.7

%

37.2

%

Depreciation and amortization

 

33

 

(4,661

)

(1,056

)

(1,094

)

(1,152

)

(1,002

)

(4,304

)

Financial income (expense), net

 

34

 

(153

)

225

 

(14

)

18

 

113

 

342

 

Income (loss) before income taxes

 

35

 

5,005

 

1,619

 

1,320

 

1,234

 

1,403

 

5,576

 

Capex

 

36

 

1,870

 

345

 

459

 

488

 

736

 

2,028

 

of which domestic

 

 

 

1,483

 

291

 

368

 

399

 

576

 

1,634

 

of which CEE

 

 

 

387

 

54

 

91

 

89

 

160

 

394

 

Number of employees

 

 

 

136,416

 

122,515

 

122,590

 

122,724

 

120,985

 

122,203

 

of which domestic

 

 

 

106,571

 

94,506

 

94,943

 

95,583

 

94,937

 

94,992

 

 



 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

28

 

(135

)

(57

)

(9

)

(63

)

(99

)

(228

)

of which domestic

 

 

 

(126

)

(54

)

(12

)

(64

)

(98

)

(228

)

of which CEE

 

 

 

(9

)

(3

)

3

 

1

 

(1

)

(0

)

Net Revenue

 

29

 

(1,420

)

(368

)

(384

)

(483

)

(483

)

(1,718

)

EBITDA

 

30

 

253

 

(6

)

23

 

(19

)

(21

)

(23

)

of which domestic

 

 

 

310

 

3

 

18

 

4

 

(12

)

13

 

of which CEE

 

 

 

(57

)

(9

)

5

 

(23

)

(9

)

(36

)

EBITDA margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Special factors affecting EBITDA

 

31

 

135

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

32

 

118

 

(6

)

23

 

(19

)

(21

)

(23

)

of which domestic

 

 

 

175

 

3

 

18

 

4

 

(30

)

(5

)

of which CEE

 

 

 

(57

)

(9

)

5

 

(23

)

9

 

(18

)

EBITDA margin, adj.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

33

 

213

 

78

 

59

 

(101

)

186

 

222

 

Financial income (expense), net

 

34

 

(155

)

(38

)

(41

)

(40

)

(42

)

(161

)

Income (loss) before income taxes

 

35

 

332

 

41

 

51

 

(151

)

132

 

74

 

Capex

 

36

 

(30

)

(1

)

(12

)

14

 

12

 

13

 

of which domestic

 

 

 

(33

)

(1

)

(12

)

15

 

12

 

14

 

of which CEE

 

 

 

3

 

0

 

0

 

(1

)

0

 

(1

)

Number of employees

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 



 

IFRS figures
CEE mobile

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

 

 

1,187

 

286

 

329

 

374

 

344

 

1,333

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which CEE

 

 

 

1,187

 

286

 

329

 

374

 

344

 

1,333

 

Net Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

 

 

598

 

149

 

187

 

189

 

154

 

679

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which CEE

 

 

 

598

 

149

 

187

 

189

 

154

 

679

 

EBITDA margin

 

 

 

50.4

%

52.1

%

56.8

%

50.5

%

44.8

%

50.9

%

Special factors affecting EBITDA

 

 

 

0

 

0

 

0

 

0

 

(2

)

(2

)

EBITDA, adj.

 

 

 

598

 

149

 

187

 

189

 

156

 

681

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which CEE

 

 

 

598

 

149

 

187

 

189

 

156

 

681

 

EBITDA margin, adj.

 

 

 

50.4

%

52.1

%

56.8

%

50.5

%

45.3

%

51.1

%

Depreciation and amortization

 

 

 

(295

)

(50

)

(51

)

(107

)

(56

)

(264

)

Financial income (expense), net

 

 

 

(286

)

(278

)

1

 

(13

)

(102

)

(392

)

Income (loss) before income taxes

 

 

 

17

 

(179

)

136

 

70

 

(5

)

23

 

Capex

 

 

 

229

 

38

 

50

 

44

 

183

 

315

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

of which CEE

 

 

 

229

 

38

 

50

 

44

 

183

 

315

 

Number of employees

 

 

 

3,132

 

3,185

 

3,192

 

3,190

 

3,198

 

3,192

 

of which domestic

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 



 

Step 1: IFRS. T-Mobile

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

46

 

22,778

 

5,944

 

6,237

 

6,479

 

6,335

 

24,995

 

Net Revenue

 

47

 

21,572

 

5,678

 

6,005

 

6,273

 

6,132

 

24,088

 

EBITDA

 

48

 

7,016

 

1,677

 

3,210

 

2,798

 

2,911

 

10,596

 

EBITDA margin

 

 

 

30.8

%

28.2

%

51.5

%

43.2

%

46.0

%

42.4

%

Special factors affecting EBITDA

 

49

 

345

 

0

 

1,280

 

636

 

1,012

 

2,928

 

EBITDA, adj.

 

50

 

6,671

 

1,677

 

1,930

 

2,162

 

1,899

 

7,668

 

EBITDA margin, adj.

 

 

 

29.3

%

28.2

%

30.9

%

33.4

%

30.0

%

30.7

%

Depreciation and amortization

 

51

 

(5,196

)

(1,234

)

(1,270

)

(1,282

)

(1,302

)

(5,088

)

Financial income (expense), net

 

52

 

(895

)

(265

)

(65

)

(203

)

(241

)

(774

)

Income (loss) before income taxes

 

53

 

831

 

156

 

1,846

 

1,287

 

1,347

 

4,636

 

Capex

 

54

 

3,012

 

452

 

644

 

471

 

844

 

2,411

 

Number of employees

 

 

 

41,767

 

43,152

 

44,215

 

44,920

 

44,617

 

44,226

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

46

 

24,198

 

6,272

 

6,649

 

6,914

 

6,692

 

26,527

 

Net Revenue

 

47

 

22,804

 

5,966

 

6,372

 

6,663

 

6,449

 

25,450

 

EBITDA

 

48

 

7,202

 

1,826

 

2,202

 

2,369

 

2,066

 

8,463

 

EBITDA margin

 

 

 

29.8

%

29.1

%

33.1

%

34.3

%

30.9

%

31.9

%

Special factors affecting EBITDA

 

49

 

0

 

0

 

75

 

(5

)

(2

)

68

 

EBITDA, adj.

 

50

 

7,202

 

1,826

 

2,127

 

2,374

 

2,068

 

8,395

 

EBITDA margin, adj.

 

 

 

29.8

%

29.1

%

32.0

%

34.3

%

30.9

%

31.6

%

Depreciation and amortization

 

51

 

(3,768

)

(685

)

(2,166

)

(3,215

)

(887

)

(6,953

)

Financial income (expense), net

 

52

 

(465

)

(274

)

(94

)

(224

)

663

 

71

 

Income (loss) before income taxes

 

53

 

2,969

 

867

 

(58

)

(1,070

)

1,842

 

1,581

 

Capex

 

54

 

3,820

 

403

 

793

 

606

 

1,092

 

2,894

 

Number of employees

 

 

 

44,899

 

46,337

 

47,407

 

48,111

 

47,815

 

47,418

 

 



Step 1: IFRS. T-Mobile

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

46

 

(55

)

(19

)

14

 

3

 

(48

)

(50

)

Net Revenue

 

47

 

(55

)

(18

)

13

 

3

 

(49

)

(51

)

EBITDA

 

48

 

(417

)

1

 

(1,187

)

(628

)

(995

)

(2,809

)

Special factors affecting EBITDA

 

49

 

(345

)

0

 

(1,205

)

(641

)

(1,014

)

(2,860

)

EBITDA, adj.

 

50

 

(72

)

1

 

18

 

13

 

19

 

51

 

Depreciation and amortization

 

51

 

1,720

 

599

 

(844

)

(1,825

)

484

 

(1,586

)

Financial income (expense), net

 

52

 

448

 

(4

)

(25

)

(13

)

916

 

874

 

Income (loss) before income taxes

 

53

 

1,845

 

618

 

(2,027

)

(2,440

)

426

 

(3,423

)

Capex

 

54

 

586

 

(91

)

95

 

93

 

87

 

184

 

Number of employees

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 

Delta CEE

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

 

 

1,475

 

347

 

398

 

432

 

405

 

1,582

 

Net Revenue

 

 

 

1,287

 

306

 

354

 

387

 

366

 

1,413

 

EBITDA

 

 

 

603

 

148

 

179

 

199

 

150

 

676

 

EBITDA margin

 

 

 

40.9

%

42.7

%

45.0

%

46.1

%

37.0

%

42.7

%

Special factors affecting EBITDA

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

 

 

603

 

148

 

179

 

199

 

150

 

676

 

EBITDA margin, adj.

 

 

 

40.9

%

42.7

%

45.0

%

46.1

%

37.0

%

42.7

%

Depreciation and amortization

 

 

 

(292

)

(50

)

(52

)

(108

)

(69

)

(279

)

Financial income (expense), net

 

 

 

(18

)

(5

)

(4

)

(8

)

(12

)

(29

)

Income (loss) before income taxes

 

 

 

293

 

93

 

123

 

83

 

69

 

368

 

Capex

 

 

 

222

 

42

 

54

 

42

 

161

 

299

 

Number of employees

 

 

 

3,132

 

3,185

 

3,192

 

3,190

 

3,198

 

3,192

 

 



 

Step 1: IFRS. T-Mobile Deutschland.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

55

 

8,479

 

2,121

 

2,161

 

2,238

 

2,184

 

8,704

 

EBITDA

 

56

 

3,598

 

773

 

832

 

916

 

942

 

3,463

 

EBITDA margin

 

 

 

42.4

%

36.4

%

38.5

%

40.9

%

43.1

%

39.8

%

Special factors affecting EBITDA

 

 

 

(7

)

0

 

0

 

(5

)

(2

)

(7

)

EBITDA, adj.

 

56

 

3,605

 

773

 

832

 

921

 

944

 

3,470

 

EBITDA margin, adj.

 

 

 

42.5

%

36.4

%

38.5

%

41.2

%

43.2

%

39.9

%

Capex

 

57

 

462

 

57

 

72

 

83

 

159

 

371

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

55

 

0

 

(1

)

18

 

23

 

1

 

41

 

EBITDA

 

56

 

77

 

30

 

48

 

37

 

55

 

170

 

EBITDA margin

 

 

 

0.9

%pts

1.4

%pts

1.9

%pts

1.2

%pts

2.5

%pts

1.8

%pts

Special factors affecting EBITDA

 

 

 

7

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

56

 

70

 

30

 

48

 

37

 

55

 

170

 

EBITDA margin, adj.

 

 

 

0.8

%pts

1.4

%pts

1.9

%pts

1.2

%pts

2.5

%pts

1.8

%pts

Capex

 

57

 

325

 

1

 

24

 

36

 

42

 

103

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

55

 

8,479

 

2,120

 

2,179

 

2,261

 

2,185

 

8,745

 

EBITDA

 

56

 

3,675

 

803

 

880

 

953

 

997

 

3,633

 

EBITDA margin

 

 

 

43.3

%

37.9

%

40.4

%

42.1

%

45.6

%

41.6

%

Special factors affecting EBITDA

 

 

 

0

 

0

 

0

 

(5

)

(2

)

(7

)

EBITDA, adj.

 

56

 

3,675

 

803

 

880

 

958

 

999

 

3,640

 

EBITDA margin, adj.

 

 

 

43.3

%

37.9

%

40.4

%

42.4

%

45.7

%

41.6

%

Capex

 

57

 

787

 

58

 

96

 

119

 

201

 

474

 

 



 

Step 1: IFRS. T-Mobile UK.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

58

 

4,303

 

1,133

 

1,108

 

1,106

 

,997

 

4,344

 

EBITDA

 

58

 

1,060

 

385

 

440

 

384

 

233

 

1,442

 

EBITDA margin

 

 

 

24.6

%

34.0

%

39.7

%

34.7

%

23.4

%

33.2

%

Special factors affecting EBITDA

 

 

 

0

 

0

 

75

 

0

 

0

 

75

 

EBITDA, adj.

 

58

 

1,060

 

385

 

365

 

384

 

233

 

1,367

 

EBITDA margin, adj.

 

 

 

24.6

%

34.0

%

32.9

%

34.7

%

23.4

%

31.5

%

Capex

 

58

 

361

 

66

 

91

 

100

 

104

 

361

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

58

 

9

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

58

 

13

 

(1

)

4

 

6

 

4

 

13

 

EBITDA margin

 

 

 

0.3

%pts

(0.1

)%pts

0.4

%pts

0.5

%pts

0.4

%pts

0.3

%pts

Special factors affecting EBITDA

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

58

 

13

 

(1

)

4

 

6

 

4

 

13

 

EBITDA margin, adj.

 

 

 

0.3

%pts

(0.1

)%pts

0.4

%pts

0.5

%pts

0.4

%pts

0.3

%pts

Capex

 

58

 

20

 

1

 

(1

)

(3

)

20

 

17

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

58

 

4,312

 

1,133

 

1,108

 

1,106

 

997

 

4,344

 

EBITDA

 

58

 

1,073

 

384

 

444

 

390

 

237

 

1,455

 

EBITDA margin

 

 

 

24.9

%

33.9

%

40.1

%

35.2

%

23.8

%

33.5

%

Special factors affecting EBITDA

 

 

 

0

 

0

 

75

 

0

 

0

 

75

 

EBITDA, adj.

 

58

 

1,073

 

384

 

369

 

390

 

237

 

1,380

 

EBITDA margin, adj.

 

 

 

24.9

%

33.9

%

33.3

%

35.2

%

23.8

%

31.8

%

Capex

 

58

 

381

 

67

 

90

 

97

 

124

 

378

 

 



 

Step 1: IFRS. T-Mobile USA.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

59

 

7,416

 

2,070

 

2,320

 

2,477

 

2,499

 

9,366

 

EBITDA

 

60

 

1,506

 

405

 

1,794

 

1,298

 

631

 

4,128

 

EBITDA margin

 

 

 

20.3

%

19.6

%

77.3

%

52.4

%

25.3

%

44.1

%

Special factors affecting EBITDA

 

61

 

0

 

0

 

1,205

 

641

 

73

 

1,919

 

EBITDA, adj.

 

62

 

1,506

 

405

 

589

 

657

 

558

 

2,209

 

EBITDA margin, adj.

 

 

 

20.3

%

19.6

%

25.4

%

26.5

%

22.3

%

23.6

%

Capex

 

63

 

1,817

 

289

 

419

 

197

 

415

 

1,320

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

59

 

(53

)

(17

)

(3

)

(19

)

(49

)

(88

)

EBITDA

 

60

 

(182

)

(36

)

(1,241

)

(673

)

(122

)

(2,072

)

EBITDA margin

 

 

 

(2.3

)%pts

(1.6

)%pts

(53.5

)%pts

(27.0

)%pts

(4.5

)%pts

(21.9

)%pts

Special factors affecting EBITDA

 

61

 

0

 

0

 

(1,205

)

(641

)

(73

)

(1,919

)

EBITDA, adj.

 

62

 

(182

)

(36

)

(36

)

(32

)

(49

)

(153

)

EBITDA margin, adj.

 

 

 

(2.3

)%pts

(1.6

)%pts

(1.5

)%pts

(1.1

)%pts

(1.6

)%pts

(1.4

)%pts

Capex

 

63

 

195

 

(98

)

63

 

51

 

(3

)

13

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

59

 

7,363

 

2,053

 

2,317

 

2,458

 

2,450

 

9,278

 

EBITDA

 

60

 

1,324

 

369

 

553

 

625

 

509

 

2,056

 

EBITDA margin

 

 

 

18.0

%

18.0

%

23.9

%

25.4

%

20.8

%

22.2

%

Special factors affecting EBITDA

 

61

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

62

 

1,324

 

369

 

553

 

625

 

509

 

2,056

 

EBITDA margin, adj.

 

 

 

18.0

%

18.0

%

23.9

%

25.4

%

20.8

%

22.2

%

Capex

 

63

 

2,012

 

191

 

482

 

248

 

412

 

1,333

 

 



 

Step 1: IFRS. T-Mobile Netherlands.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

64

 

861

 

250

 

267

 

270

 

259

 

1,046

 

EBITDA

 

64

 

45

 

1

 

31

 

55

 

40

 

127

 

EBITDA margin

 

 

 

5.2

%

0.4

%

11.6

%

20.4

%

15.4

%

12.1

%

Special factors affecting EBITDA

 

64

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

64

 

45

 

1

 

31

 

55

 

40

 

127

 

EBITDA margin, adj.

 

 

 

5.2

%

0.4

%

11.6

%

20.4

%

15.4

%

21.1

%

Capex

 

64

 

139

 

17

 

20

 

29

 

72

 

138

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

64

 

(1

)

0

 

0

 

0

 

0

 

0

 

EBITDA

 

64

 

17

 

2

 

6

 

3

 

6

 

17

 

EBITDA margin

 

 

 

2.0

%pts

0.8

%pts

2.2

%pts

1.1

%pts

2.3

%pts

1.6

%pts

Special factors affecting EBITDA

 

64

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

64

 

17

 

2

 

6

 

3

 

6

 

17

 

EBITDA margin, adj.

 

 

 

2.0

%pts

0.8

%pts

2.2

%pts

1.1

%pts

2.3

%pts

1.6

%pts

Capex

 

64

 

37

 

2

 

5

 

5

 

7

 

19

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

64

 

860

 

250

 

267

 

270

 

259

 

1,046

 

EBITDA

 

64

 

62

 

3

 

37

 

58

 

46

 

144

 

EBITDA margin

 

 

 

7.2

%

1.2

%

13.9

%

21.5

%

17.8

%

13.8

%

Special factors affecting EBITDA

 

64

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

64

 

62

 

3

 

37

 

58

 

46

 

144

 

EBITDA margin, adj.

 

 

 

7.2

%

1.2

%

13.9

%

21.5

%

17.8

%

13.8

%

Capex

 

64

 

176

 

19

 

25

 

34

 

79

 

157

 

 



 

Step 1: IFRS. T-Mobile Austria.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

65

 

1,098

 

236

 

210

 

222

 

215

 

883

 

EBITDA

 

65

 

340

 

55

 

50

 

66

 

65

 

236

 

EBITDA margin

 

 

 

31.0

%

23.3

%

23.8

%

29.7

%

30.2

%

26.7

%

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

65

 

340

 

55

 

50

 

66

 

65

 

236

 

EBITDA margin, adj.

 

 

 

31.0

%

23.3

%

23.8

%

29.7

%

30.2

%

26.7

%

Capex

 

65

 

122

 

13

 

24

 

44

 

36

 

117

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

65

 

0

 

(1

)

0

 

(1

)

1

 

(1

)

EBITDA

 

65

 

6

 

0

 

1

 

0

 

3

 

4

 

EBITDA margin

 

 

 

0.5

%pts

0.1

%pts

0.5

%pts

0.1

%pts

1.2

%pts

0.5

%pts

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

65

 

6

 

0

 

1

 

0

 

3

 

4

 

EBITDA margin, adj.

 

 

 

0.5

%pts

0.1

%pts

0.5

%pts

0.1

%pts

1.2

%pts

0.5

%pts

Capex

 

65

 

3

 

0

 

1

 

0

 

7

 

8

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

65

 

1,098

 

235

 

210

 

221

 

216

 

882

 

EBITDA

 

65

 

346

 

55

 

51

 

66

 

68

 

240

 

EBITDA margin

 

 

 

31.5

%

23.4

%

24.3

%

29.9

%

31.5

%

27.2

%

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

65

 

346

 

55

 

51

 

66

 

68

 

240

 

EBITDA margin, adj.

 

 

 

31.5

%

23.4

%

24.3

%

29.9

%

31.5

%

27.2

%

Capex

 

65

 

125

 

13

 

25

 

44

 

43

 

125

 

 



 

Step 1: IFRS. T-Mobile CZ.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

65

 

768

 

186

 

204

 

213

 

225

 

828

 

EBITDA

 

65

 

339

 

84

 

89

 

105

 

84

 

362

 

EBITDA margin

 

 

 

44.1

%

45.2

%

43.6

%

49.3

%

37.3

%

43.7

%

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

65

 

339

 

84

 

89

 

105

 

84

 

362

 

EBITDA margin, adj.

 

 

 

44.1

%

45.2

%

43.6

%

49.3

%

37.3

%

43.7

%

Capex

 

65

 

85

 

7

 

14

 

16

 

51

 

88

 

 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

65

 

(11

)

0

 

(1

)

0

 

0

 

(1

)

EBITDA

 

65

 

1

 

2

 

1

 

(3

)

2

 

2

 

EBITDA margin

 

 

 

0.8

%pts

1.1

%pts

0.7

%pts

(1.4

)%pts

0.9

%pts

0.3

%pts

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

65

 

1

 

2

 

1

 

(3

)

2

 

2

 

EBITDA margin, adj.

 

 

 

0.8

%pts

1.1

%pts

0.7

%pts

(1.4

)%pts

0.9

%pts

0.3

%pts

Capex

 

65

 

2

 

1

 

2

 

0

 

11

 

14

 

 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

65

 

757

 

186

 

203

 

213

 

225

 

827

 

EBITDA

 

65

 

340

 

86

 

90

 

102

 

86

 

364

 

EBITDA margin

 

 

 

44.9

%

46.2

%

44.3

%

47.9

%

38.2

%

44.0

%

Special factors affecting EBITDA

 

65

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

65

 

340

 

86

 

90

 

102

 

86

 

364

 

EBITDA margin, adj.

 

 

 

44.9

%

46.2

%

44.3

%

47.9

%

38.2

%

44.0

%

Capex

 

65

 

87

 

8

 

16

 

16

 

62

 

102

 

 



 

Step 1: IFRS. T-Systems.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

67

 

10,614

 

2,475

 

2,625

 

2,564

 

2,873

 

10,537

 

Net revenue

 

68

 

7,184

 

1,722

 

1,813

 

1,747

 

1,956

 

7,238

 

EBITDA

 

69

 

1,412

 

301

 

318

 

392

 

346

 

1,357

 

EBITDA margin

 

 

 

13.3

%

12.2

%

12.1

%

15.3

%

12.0

%

12.9

%

Special factors affecting EBITDA

 

70

 

(3

)

0

 

(43

)

(5

)

(68

)

(116

)

EBITDA, adj.

 

71

 

1,415

 

301

 

361

 

397

 

414

 

1,473

 

EBITDA margin, adj.

 

 

 

13.3

%

12.2

%

13.8

%

15.5

%

14.4

%

14.0

%

Depreciation and amortization

 

72

 

(1,499

)

(340

)

(350

)

(342

)

(356

)

(1,388

)

EBIT

 

73

 

(87

)

(39

)

(32

)

50

 

(10

)

(31

)

Financial income (expense), net

 

74

 

(486

)

(150

)

(5

)

(9

)

(10

)

(174

)

Income (loss) before income taxes

 

75

 

(581

)

(190

)

(38

)

39

 

(22

)

(211

)

Capex

 

76

 

660

 

127

 

194

 

181

 

218

 

720

 

Number of employees

 

 

 

42,108

 

40,352

 

39,867

 

39,750

 

39,551

 

39,880

 

 



 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

67

 

10,469

 

2,464

 

2,616

 

2,503

 

2,786

 

10,369

 

Net revenue

 

68

 

7,034

 

1,711

 

1,796

 

1,647

 

1,889

 

7,043

 

EBITDA

 

69

 

1,528

 

326

 

327

 

349

 

307

 

1,309

 

EBITDA margin

 

 

 

14.6

%

13.2

%

12.5

%

13.9

%

11.0

%

12.6

%

Special factors affecting EBITDA

 

70

 

67

 

0

 

(43

)

(5

)

(68

)

(116

)

EBITDA, adj.

 

71

 

1,461

 

326

 

370

 

354

 

375

 

1,425

 

EBITDA margin, adj.

 

 

 

14.0

%

13.2

%

14.1

%

14.1

%

13.5

%

13.7

%

Depreciation and amortization

 

72

 

(1,022

)

(226

)

(236

)

(224

)

(235

)

(921

)

EBIT

 

73

 

506

 

100

 

91

 

125

 

72

 

388

 

Financial income (expense), net

 

74

 

(522

)

(161

)

(23

)

(169

)

(24

)

(377

)

Income (loss) before income taxes

 

75

 

(15

)

(61

)

68

 

(44

)

48

 

11

 

Capex

 

76

 

866

 

137

 

204

 

186

 

292

 

819

 

Number of employees

 

 

 

42,108

 

40,352

 

39,867

 

39,750

 

39,551

 

39,880

 

 



 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

67

 

(145

)

(11

)

(9

)

(61

)

(87

)

(168

)

Net revenue

 

68

 

(150

)

(11

)

(17

)

(100

)

(67

)

(195

)

EBITDA

 

69

 

116

 

25

 

9

 

(43

)

(39

)

(48

)

EBITDA margin

 

 

 

1.3

%pts

1.1

%pts

0.4

%pts

(1.3

)%pts

(1.0

)%pts

(0.3

)%pts

Special factors affecting EBITDA

 

70

 

70

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

71

 

46

 

25

 

9

 

(43

)

(39

)

(48

)

EBITDA margin, adj.

 

 

 

0.6

%pts

1.1

%pts

0.4

%pts

(1.4

)%pts

(0.9

)%pts

(0.2

)%pts

Depreciation and amortization

 

72

 

477

 

114

 

114

 

118

 

121

 

467

 

EBIT

 

73

 

593

 

139

 

123

 

75

 

82

 

419

 

Financial income (expense), net

 

74

 

(36

)

(11

)

(18

)

(160

)

(14

)

(203

)

Income (loss) before income taxes

 

75

 

566

 

129

 

106

 

(83

)

70

 

222

 

Capex

 

76

 

206

 

10

 

10

 

5

 

74

 

99

 

Number of employees

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 



 

Step 1: IFRS. T-Online.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

37

 

1,851

 

493

 

500

 

464

 

522

 

1,979

 

Net revenue

 

38

 

1,662

 

453

 

456

 

419

 

465

 

1,793

 

EBITDA

 

39

 

335

 

119

 

128

 

110

 

62

 

419

 

EBITDA margin

 

 

 

18.1

%

24.1

%

25.6

%

23.7

%

11.9

%

21.2

%

Special factors affecting EBITDA

 

40

 

25

 

0

 

0

 

(1

)

0

 

(1

)

EBITDA, adj.

 

41

 

310

 

119

 

128

 

111

 

62

 

420

 

EBITDA margin, adj.

 

 

 

16.7

%

24.1

%

25.6

%

23.9

%

11.9

%

21.2

%

Depreciation and amortization

 

42

 

(430

)

(109

)

(111

)

(112

)

(120

)

(452

)

Financial income (expense), net

 

43

 

200

 

27

 

28

 

26

 

28

 

109

 

Income (loss) before income taxes

 

44

 

104

 

37

 

45

 

24

 

(33

)

73

 

Capex

 

45

 

81

 

12

 

18

 

15

 

65

 

110

 

Number of employees

 

 

 

2,637

 

2,918

 

2,945

 

2,981

 

3,007

 

2,963

 

 



 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

37

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

Net revenue

 

38

 

1,663

 

448

 

455

 

441

 

480

 

1,824

 

EBITDA

 

39

 

339

 

118

 

129

 

135

 

81

 

463

 

EBITDA margin

 

 

 

18.3

%

24.1

%

25.9

%

27.8

%

15.1

%

23.0

%

Special factors affecting EBITDA

 

40

 

24

 

0

 

0

 

(1

)

0

 

(1

)

EBITDA, adj.

 

41

 

315

 

118

 

129

 

136

 

81

 

464

 

EBITDA margin, adj.

 

 

 

17.0

%

24.1

%

25.9

%

28.0

%

15.1

%

23.1

%

Depreciation and amortization

 

42

 

(82

)

(22

)

(24

)

(24

)

(38

)

(108

)

Financial income (expense), net

 

43

 

146

 

30

 

32

 

30

 

32

 

124

 

Income (loss) before income taxes

 

44

 

403

 

126

 

137

 

141

 

75

 

479

 

Capex

 

45

 

90

 

13

 

18

 

19

 

71

 

121

 

Number of employees

 

 

 

2,637

 

2,918

 

2,945

 

2,981

 

3,007

 

2,963

 

 



 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

37

 

0

 

(4

)

(1

)

22

 

16

 

33

 

Net revenue

 

38

 

1

 

(5

)

(1

)

22

 

15

 

31

 

EBITDA

 

39

 

4

 

(1

)

1

 

25

 

19

 

44

 

EBITDA margin

 

 

 

0.2

%pts

0.0

%pts

0.3

%pts

4.1

%pts

3.2

%pts

1.8

%pts

Special factors affecting EBITDA

 

40

 

(1

)

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

41

 

5

 

(1

)

1

 

25

 

19

 

44

 

EBITDA margin, adj.

 

 

 

0.3

%pts

(0.0

)%pts

0.3

%pts

4.1

%pts

3.2

%pts

1.8

%pts

Depreciation and amortization

 

42

 

348

 

87

 

87

 

88

 

82

 

344

 

Financial income (expense), net

 

43

 

(54

)

3

 

4

 

4

 

4

 

15

 

Income (loss) before income taxes

 

44

 

299

 

89

 

92

 

117

 

108

 

406

 

Capex

 

45

 

9

 

1

 

0

 

4

 

6

 

11

 

Number of employees

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 



 

Step 1: IFRS. GHS.

 

Ger. GAAP

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

77

 

4,268

 

1,090

 

1,154

 

1,164

 

1,093

 

4,501

 

Net revenue

 

78

 

304

 

80

 

84

 

78

 

94

 

336

 

EBITDA

 

79

 

(276

)

(163

)

(81

)

69

 

(142

)

(317

)

of which Vivento

 

80

 

(434

)

(250

)

(261

)

(152

)

(123

)

(786

)

EBITDA margin

 

 

 

(6.5

)%

(15.0

)%

(7.0

)%

5.9

%

(13.0

)%

(7.0

)%

Special factors affecting EBITDA

 

81

 

40

 

(33

)

135

 

21

 

176

 

299

 

EBITDA, adj.

 

82

 

(316

)

(130

)

(216

)

48

 

(318

)

(616

)

of which Vivento

 

83

 

(491

)

(217

)

(304

)

(183

)

(186

)

(890

)

EBITDA margin, adj.

 

 

 

(7.4

)%

(11.9

)%

(18.7

)%

4.1

%

(29.1

)%

(13.7

)%

Depreciation and amortization

 

84

 

(881

)

(212

)

(173

)

(180

)

(281

)

(846

)

Financial income (expense), net

 

85

 

(2,877

)

(768

)

(574

)

(676

)

(554

)

(2,572

)

Income (loss) before income taxes

 

86

 

(4,071

)

(1,156

)

(839

)

(799

)

(998

)

(3,792

)

Capex

 

87

 

416

 

57

 

131

 

124

 

178

 

490

 

Number of employees

 

 

 

25,203

 

36,239

 

34,976

 

34,795

 

34,371

 

35,095

 

 



 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

77

 

4,266

 

1,085

 

1,150

 

1,159

 

1,089

 

4,483

 

Net revenue

 

78

 

306

 

80

 

84

 

78

 

94

 

336

 

EBITDA

 

79

 

(113

)

(65

)

(51

)

76

 

(334

)

(374

)

of which Vivento

 

80

 

n.a.

 

(208

)

(229

)

(117

)

(185

)

(739

)

EBITDA margin

 

 

 

(2.6

)%

(6.0

)%

(4.4

)%

6.6

%

(30.7

)%

(8.3

)%

Special factors affecting EBITDA

 

81

 

107

 

(33

)

43

 

21

 

(39

)

(8

)

EBITDA, adj.

 

82

 

(220

)

(32

)

(94

)

55

 

(295

)

(366

)

of which Vivento

 

83

 

n.a.

 

(175

)

(272

)

(148

)

(199

)

(794

)

EBITDA margin, adj.

 

 

 

(5.2

)%

(2.9

)%

(8.2

)%

4.7

%

(27.1

)%

(8.2

)%

Depreciation and amortization

 

84

 

(820

)

(212

)

(206

)

(247

)

(249

)

(914

)

Financial income (expense), net

 

85

 

(3,329

)

(812

)

(652

)

(665

)

(559

)

(2,688

)

Income (loss) before income taxes

 

86

 

(4,262

)

(1,089

)

(909

)

(836

)

(1,142

)

(3,976

)

Capex

 

87

 

895

 

61

 

150

 

189

 

304

 

704

 

Number of employees

 

 

 

25,203

 

36,239

 

34,976

 

34,795

 

34,371

 

35,095

 

 


 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

77

 

(2

)

(5

)

(4

)

(5

)

(4

)

(18

)

Net revenue

 

78

 

2

 

(0

)

0

 

0

 

(0

)

(0

)

EBITDA

 

79

 

163

 

98

 

30

 

7

 

(192

)

(57

)

of which Vivento

 

80

 

n.a.

 

42

 

32

 

35

 

(62

)

47

 

EBITDA margin

 

 

 

3.8

%pts

9.0

%pts

2.6

%pts

0.6

%pts

(17.7

)%pts

(1.3

)%pts

Special factors affecting EBITDA

 

81

 

67

 

0

 

(92

)

0

 

(215

)

(307

)

EBITDA, adj.

 

82

 

96

 

98

 

122

 

7

 

23

 

250

 

of which Vivento

 

83

 

n.a.

 

42

 

32

 

35

 

(13

)

96

 

EBITDA margin, adj.

 

 

 

2.2

%pts

9.0

%pts

10.5

%pts

0.6

%pts

2.0

%pts

5.5

%pts

Depreciation and amortization

 

84

 

61

 

0

 

(33

)

(67

)

32

 

(68

)

Financial income (expense), net

 

85

 

(452

)

(44

)

(78

)

11

 

(5

)

(116

)

Income (loss) before income taxes

 

86

 

(191

)

67

 

(70

)

(37

)

(144

)

(184

)

Capex

 

87

 

479

 

4

 

19

 

65

 

126

 

214

 

Number of employees

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

 



 

HGB

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

 

 

(12,879

)

(2,991

)

(2,986

)

(2,953

)

(3,016

)

(11,946

)

Net revenue

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

 

 

(176

)

(23

)

(12

)

(140

)

195

 

20

 

Special factors affecting EBITDA

 

 

 

(28

)

0

 

0

 

(93

)

160

 

67

 

EBITDA, adj.

 

 

 

(148

)

(23

)

(12

)

(47

)

35

 

(47

)

Depreciation and amortization

 

 

 

291

 

63

 

93

 

83

 

77

 

316

 

Financial income (expense), net

 

 

 

311

 

61

 

(93

)

24

 

(19

)

(27

)

Income (loss) before income taxes

 

 

 

425

 

100

 

(13

)

(32

)

255

 

310

 

Capex

 

 

 

(64

)

(13

)

9

 

(34

)

(87

)

(125

)

 



 

IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

 

 

(13,165

)

(3,052

)

(3,081

)

(3,078

)

(3,073

)

(12,284

)

Net revenue

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

 

 

(86

)

(49

)

(37

)

(104

)

180

 

(10

)

Special factors affecting EBITDA

 

 

 

(24

)

0

 

0

 

(93

)

146

 

53

 

EBITDA, adj.

 

 

 

(62

)

(49

)

(37

)

(11

)

34

 

(63

)

Depreciation and amortization

 

 

 

49

 

11

 

12

 

12

 

37

 

72

 

Financial income (expense), net

 

 

 

76

 

(232

)

55

 

(14

)

(24

)

(215

)

Income (loss) before income taxes

 

 

 

39

 

(270

)

30

 

(106

)

193

 

(153

)

Capex

 

 

 

(39

)

(49

)

56

 

(10

)

(52

)

(55

)

 



 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

 

 

(286

)

(61

)

(95

)

(125

)

(57

)

(338

)

Net revenue

 

 

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

 

 

90

 

(26

)

(25

)

36

 

(15

)

(30

)

Special factors affecting EBITDA

 

 

 

4

 

0

 

0

 

0

 

(14

)

(14

)

EBITDA, adj.

 

 

 

86

 

(26

)

(25

)

36

 

(1

)

(16

)

Depreciation and amortization

 

 

 

(242

)

(52

)

(81

)

(71

)

(40

)

(244

)

Financial income (expense), net

 

 

 

(235

)

(293

)

148

 

(38

)

(5

)

(188

)

Income (loss) before income taxes

 

 

 

(386

)

(370

)

43

 

(74

)

(62

)

(463

)

Capex

 

 

 

25

 

(36

)

47

 

24

 

35

 

70

 

 



 

Step 2: New structure. Broadband / Fixed Network.

 

Broadband /
Fixed Network

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

28,295

 

6,941

 

6,809

 

6,609

 

6,651

 

27,010

 

of which domestic

 

25,519

 

6,274

 

6,109

 

5,921

 

5,958

 

24,262

 

of which international

 

2,776

 

667

 

700

 

688

 

693

 

2,748

 

Net revenue

 

23,197

 

5,653

 

5,609

 

5,433

 

5,714

 

22,409

 

EBITDA

 

10,368

 

2,559

 

2,577

 

2,477

 

2,340

 

9,953

 

of which domestic

 

9,445

 

2,296

 

2,324

 

2,222

 

2,248

 

9,090

 

of which international

 

923

 

263

 

253

 

255

 

92

 

863

 

EBITDA margin

 

36.6

%

36.9

%

37.8

%

37.5

%

35.5

%

36.8

%

Special factors affecting EBITDA

 

(40

)

(33

)

0

 

(18

)

(169

)

(220

)

EBITDA, adj.

 

10,408

 

2,592

 

2,577

 

2,495

 

2,509

 

10,173

 

of which domestic

 

9,419

 

2,329

 

2,324

 

2,224

 

2,285

 

9,162

 

of which international

 

989

 

263

 

253

 

271

 

224

 

1,011

 

EBITDA margin, adj.

 

36.8

%

37.3

%

37.8

%

37.8

%

37.7

%

37.7

%

Depreciation and amortization

 

(4,747

)

(1,082

)

(1,122

)

(1,181

)

(1,023

)

(4,408

)

Financial income (expense), net

 

(15

)

261

 

20

 

49

 

149

 

479

 

Income (loss) before income taxes

 

5,606

 

1,738

 

1,475

 

1,345

 

1,466

 

6,024

 

Capex

 

1,994

 

358

 

465

 

498

 

798

 

2,119

 

of which domestic

 

1,588

 

298

 

368

 

404

 

628

 

1,698

 

of which international

 

406

 

60

 

97

 

94

 

170

 

421

 

Number of employees

 

128,064

 

114,748

 

114,860

 

116,549

 

115,010

 

115,292

 

of which domestic

 

97,520

 

85,928

 

86,390

 

88,605

 

88,146

 

87,267

 

 



 

T-Com

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

27,206

 

6,599

 

6,470

 

6,254

 

6,278

 

25,601

 

of which domestic

 

24,599

 

5,982

 

5,825

 

5,618

 

5,644

 

23,069

 

of which international

 

2,607

 

617

 

645

 

636

 

634

 

2,532

 

Net revenue

 

21,534

 

5,205

 

5,154

 

4,992

 

5,234

 

20,585

 

EBITDA

 

10,080

 

2,457

 

2,440

 

2,342

 

2,265

 

9,504

 

of which domestic

 

9,111

 

2,191

 

2,186

 

2,093

 

2,171

 

8,641

 

of which international

 

969

 

266

 

254

 

249

 

94

 

863

 

EBITDA margin

 

37.1

%

37.2

%

37.7

%

37.4

%

36.1

%

37.1

%

Special factors affecting EBITDA

 

(40

)

(33

)

0

 

(17

)

(169

)

(219

)

EBITDA, adj.

 

10,120

 

2,490

 

2,440

 

2,359

 

2,434

 

9,723

 

of which domestic

 

9,085

 

2,224

 

2,186

 

2,094

 

2,208

 

8,712

 

of which international

 

1,035

 

266

 

254

 

265

 

226

 

1,011

 

EBITDA margin, adj.

 

37.2

%

37.7

%

37.7

%

37.7

%

38.8

%

38.0

%

Depreciation and amortization

 

(4,665

)

(1,058

)

(1,096

)

(1,155

)

(1,007

)

(4,316

)

Financial income (expense), net

 

(161

)

230

 

(11

)

19

 

116

 

354

 

Income (loss) before income taxes

 

5,254

 

1,629

 

1,333

 

1,206

 

1,374

 

5,542

 

Capex

 

1,839

 

345

 

447

 

479

 

727

 

1,998

 

of which domestic

 

1,452

 

291

 

356

 

390

 

567

 

1,604

 

of which international

 

387

 

54

 

91

 

89

 

160

 

394

 

Number of employees

 

125,428

 

111,830

 

111,915

 

113,568

 

112,002

 

112,329

 

Of which domestic

 

95,583

 

83,821

 

84,269

 

86,427

 

85,954

 

85,118

 

 



 

T-Online

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

1,851

 

489

 

499

 

486

 

538

 

2,012

 

Net revenue

 

1,663

 

448

 

455

 

441

 

480

 

1,824

 

EBITDA

 

339

 

118

 

129

 

135

 

81

 

463

 

EBITDA margin

 

18.3

%

24.1

%

25.9

%

27.8

%

15.1

%

23.0

%

Special factors affecting EBITDA

 

24

 

0

 

0

 

(1

)

0

 

(1

)

EBITDA, adj.

 

315

 

118

 

129

 

136

 

81

 

464

 

EBITDA margin, adj.

 

17.0

%

24.1

%

25.9

%

28.0

%

15.1

%

23.1

%

Depreciation and amortization

 

(82

)

(22

)

(24

)

(24

)

(38

)

(108

)

Financial income (expense), net

 

146

 

30

 

32

 

30

 

32

 

124

 

Income (loss) before income taxes

 

403

 

126

 

137

 

141

 

75

 

479

 

Capex

 

90

 

13

 

18

 

19

 

71

 

121

 

Number of employees

 

2,637

 

2,918

 

2,945

 

2,981

 

3,007

 

2,963

 

of which domestic

 

1,937

 

2,107

 

2,121

 

2,178

 

2,192

 

2,149

 

 



 

Transfer out

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

2,730

 

563

 

602

 

585

 

1,047

 

2,797

 

Net revenue

 

2,955

 

676

 

708

 

664

 

745

 

2,793

 

EBITDA

 

(73

)

8

 

14

 

37

 

30

 

89

 

EBITDA margin

 

(2.7

)%

1.4

%

2.3

%

6.3

%

2.9

%

3.2

%

Special factors affecting EBITDA

 

17

 

4

 

0

 

0

 

2

 

6

 

EBITDA, adj.

 

(90

)

4

 

14

 

37

 

28

 

83

 

EBITDA margin, adj.

 

(3.3

)%

0.7

%

2.3

%

6.3

%

2.7

%

3.0

%

Depreciation and amortization

 

(64

)

(16

)

(16

)

(14

)

(11

)

(57

)

Financial income (expense), net

 

78

 

(11

)

16

 

12

 

38

 

55

 

Income (loss) before income taxes

 

(59

)

(19

)

14

 

35

 

57

 

87

 

Capex

 

51

 

6

 

16

 

9

 

1

 

30

 

Number of employees

 

11,868

 

11,313

 

11,306

 

9,789

 

9,617

 

10,506

 

 

Transfer in

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

1,884

 

418

 

396

 

322

 

316

 

1,452

 

Net revenue

 

793

 

196

 

192

 

132

 

151

 

671

 

EBITDA

 

187

 

4

 

22

 

8

 

13

 

47

 

EBITDA margin

 

9.9

%

1.0

%

5.6

%

2.5

%

4.1

%

3.2

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

187

 

4

 

22

 

8

 

13

 

47

 

EBITDA margin, adj.

 

9.9

%

1.0

%

5.6

%

2.5

%

4.1

%

3.2

%

Depreciation and amortization

 

(65

)

(17

)

(18

)

(14

)

(16

)

(65

)

Financial income (expense), net

 

(7

)

1

 

(2

)

(3

)

1

 

(3

)

Income (loss) before income taxes

 

115

 

(12

)

2

 

(9

)

(2

)

(21

)

Capex

 

17

 

4

 

3

 

0

 

2

 

8

 

Number of employees

 

880

 

628

 

631

 

633

 

634

 

631

 

 



 

Step 2: New structure. Business Customers.

 

Business
Customers

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

12,937

 

3,075

 

3,272

 

3,169

 

3,441

 

12,957

 

Net revenue

 

9,267

 

2,209

 

2,327

 

2,200

 

2,505

 

9,241

 

EBITDA

 

1,532

 

390

 

383

 

448

 

295

 

1,517

 

EBITDA margin

 

11.8

%

12.7

%

11.7

%

14.1

%

8.6

%

11.7

%

Special factors affecting EBITDA

 

50

 

(3

)

(43

)

(5

)

(70

)

(121

)

EBITDA, adj.

 

1,482

 

393

 

426

 

453

 

365

 

1,638

 

EBITDA margin, adj.

 

11.5

%

12.8

%

13.0

%

14.3

%

10.6

%

12.6

%

Depreciation and amortization

 

(1,066

)

(232

)

(243

)

(234

)

(238

)

(947

)

EBIT

 

466

 

159

 

140

 

214

 

57

 

570

 

Financial income (expense), net

 

(515

)

(166

)

(24

)

(173

)

(26

)

(389

)

Income (loss) before income taxes

 

(49

)

(7

)

116

 

41

 

31

 

181

 

Capex

 

934

 

139

 

222

 

201

 

307

 

868

 

Number of employees

 

54,390

 

52,357

 

52,729

 

51,593

 

51,232

 

51,978

 

 



 

Business
Services

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

4,702

 

1,168

 

1,170

 

1,129

 

1,242

 

4,709

 

Net revenue

 

4,571

 

1,062

 

1,088

 

1,050

 

1,097

 

4,297

 

EBITDA

 

149

 

71

 

56

 

79

 

46

 

252

 

EBITDA margin

 

3.2

%

6.1

%

4.8

%

7.0

%

3.7

%

5.4

%

Special factors affecting EBITDA

 

89

 

(3

)

(43

)

(5

)

(70

)

(121

)

EBITDA, adj.

 

60

 

74

 

99

 

84

 

116

 

373

 

EBITDA margin, adj.

 

1.3

%

6.3

%

8.5

%

7.4

%

9.3

%

7.9

%

Depreciation and amortization

 

(272

)

(58

)

(60

)

(54

)

(58

)

(229

)

EBIT

 

(123

)

13

 

(4

)

25

 

(11

)

23

 

Financial income (expense), net

 

5

 

(3

)

(4

)

(1

)

(7

)

(15

)

Income (loss) before income taxes

 

(118

)

9

 

(8

)

24

 

(18

)

7

 

Capex

 

166

 

25

 

51

 

42

 

50

 

167

 

Number of employees

 

17,836

 

17,247

 

17,210

 

15,734

 

15,606

 

16,449

 

 



 

Enterprise
Services

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

8,235

 

1,907

 

2,102

 

2,039

 

2,200

 

8,248

 

Net revenue

 

4,696

 

1,147

 

1,239

 

1,150

 

1,408

 

4,944

 

EBITDA

 

1,383

 

319

 

328

 

369

 

249

 

1,265

 

EBITDA margin

 

16.8

%

16.7

%

15.6

%

18.1

%

11.3

%

15.3

%

Special factors affecting EBITDA

 

(39

)

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

1,422

 

319

 

328

 

369

 

249

 

1,265

 

EBITDA margin, adj.

 

17.3

%

16.7

%

15.6

%

18.1

%

11.3

%

15.3

%

Depreciation and amortization

 

(796

)

(174

)

(184

)

(180

)

(181

)

(718

)

EBIT

 

589

 

146

 

144

 

189

 

68

 

547

 

Financial income (expense), net

 

(374

)

(131

)

8

 

(136

)

(9

)

(268

)

Income (loss) before income taxes

 

215

 

14

 

155

 

53

 

51

 

274

 

Capex

 

768

 

114

 

171

 

159

 

257

 

701

 

Number of employees

 

36,554

 

35,110

 

35,520

 

35,860

 

35,626

 

35,529

 

 



 

Transfer out

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

1,604

 

384

 

387

 

309

 

305

 

1,385

 

Net revenue

 

793

 

196

 

192

 

132

 

151

 

671

 

EBITDA

 

232

 

16

 

27

 

14

 

20

 

78

 

EBITDA margin

 

14.5

%

4.2

%

7.0

%

4.5

%

6.6

%

5.6

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

232

 

16

 

27

 

14

 

20

 

78

 

EBITDA margin, adj.

 

14.5

%

4.2

%

7.0

%

4.5

%

6.6

%

5.6

%

Depreciation and amortization

 

(65

)

(17

)

(18

)

(15

)

(15

)

(65

)

EBIT

 

167

 

(1

)

10

 

(1

)

5

 

13

 

Financial income (expense), net

 

(7

)

0

 

(4

)

0

 

1

 

(3

)

Income (loss) before income taxes

 

161

 

(1

)

5

 

0

 

6

 

10

 

Capex

 

17

 

4

 

3

 

0

 

2

 

8

 

Number of employees

 

880

 

628

 

631

 

633

 

634

 

631

 

 



 

Transfer in
Enterprise
Services

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

1,007

 

222

 

272

 

276

 

202

 

972

 

Net revenue

 

71

 

18

 

15

 

21

 

22

 

76

 

EBITDA

 

283

 

56

 

70

 

78

 

(21

)

183

 

EBITDA margin

 

28.1

%

25.3

%

25.7

%

28.2

%

(10.5

)%

18.8

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

283

 

56

 

70

 

78

 

(21

)

183

 

EBITDA margin, adj.

 

28.1

%

25.3

%

25.7

%

28.2

%

(10.5

)%

18.8

%

Depreciation and amortization

 

(49

)

(8

)

(10

)

(10

)

(9

)

(37

)

EBIT

 

234

 

48

 

60

 

67

 

(30

)

145

 

Financial income (expense), net

 

0

 

0

 

(1

)

0

 

3

 

2

 

Income (loss) before income taxes

 

233

 

48

 

60

 

67

 

(27

)

148

 

Capex

 

33

 

2

 

6

 

7

 

17

 

31

 

Number of employees

 

1,294

 

1,320

 

2,189

 

2,687

 

2,698

 

2,223

 

 



 

Transfer in
Business
Services

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total revenue

 

4,463

 

1,044

 

1,097

 

976

 

1,176

 

4,293

 

Net revenue

 

2,955

 

676

 

708

 

664

 

745

 

2,793

 

EBITDA

 

(27

)

19

 

17

 

48

 

26

 

110

 

EBITDA margin

 

(0.6

)%

1.8

%

1.6

%

4.9

%

2.2

%

2.6

%

Special factors affecting EBITDA

 

(17

)

(3

)

0

 

0

 

(2

)

(5

)

EBITDA, adj.

 

(10

)

22

 

17

 

48

 

28

 

115

 

EBITDA margin, adj.

 

(0.2

)%

2.1

%

1.5

%

4.9

%

2.4

%

2.7

%

Depreciation and amortization

 

(64

)

(16

)

(16

)

(14

)

(11

)

(57

)

EBIT

 

(91

)

3

 

1

 

34

 

15

 

54

 

Financial income (expense), net

 

1

 

(4

)

(5

)

(4

)

(2

)

(15

)

Income (loss) before income taxes

 

(91

)

(1

)

(4

)

30

 

13

 

38

 

Capex

 

50

 

6

 

19

 

10

 

13

 

48

 

Number of employees

 

11,868

 

11,313

 

11,306

 

9,789

 

9,617

 

10,506

 

 



 

Step 2: New structure. GHS.

 

GHS

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

3,271

 

866

 

882

 

887

 

891

 

3,526

 

Net Revenue

 

235

 

62

 

69

 

57

 

72

 

260

 

EBITDA

 

(396

)

(120

)

(122

)

(1

)

(313

)

(556

)

of which Vivento(1)

 

n.a.

 

(208

)

(229

)

(117

)

(185

)

(739

)

EBITDA margin

 

(12.1

)%

(13.9

)%

(13.8

)%

(0.1

)%

(35.1

)%

(15.8

)%

Special factors affecting EBITDA

 

107

 

(33

)

43

 

21

 

(39

)

(8

)

EBITDA, adj.

 

(503

)

(87

)

(165

)

(22

)

(274

)

(548

)

of which Vivento(1)

 

n.a.

 

(175

)

(272

)

(148

)

(199

)

(794

)

EBITDA margin, adj.

 

(15.4

)%

(10.0

)%

(18.7

)%

(2.5

)%

(30.8

)%

(15.5

)%

Depreciation and amortization

 

(771

)

(204

)

(196

)

(237

)

(239

)

(876

)

Financial income (expense), net

 

(3,328

)

(812

)

(651

)

(666

)

(559

)

(2,688

)

Income (loss) before income taxes

 

(4,495

)

(1,136

)

(969

)

(904

)

(1,111

)

(4,120

)

Capex

 

862

 

58

 

145

 

182

 

288

 

673

 

Number of employees

 

23,909

 

34,919

 

32,787

 

32,108

 

31,673

 

32,872

 

 

Transfer out

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

995

 

219

 

268

 

272

 

198

 

957

 

Net Revenue

 

71

 

18

 

15

 

21

 

22

 

76

 

EBITDA

 

283

 

55

 

71

 

77

 

(21

)

182

 

EBITDA margin

 

28.5

%

25.1

%

26.5

%

28.3

%

(10.6

)%

19.0

%

Special factors affecting EBITDA

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA, adj.

 

283

 

55

 

71

 

77

 

(21

)

182

 

EBITDA margin, adj.

 

28.5

%

25.1

%

26.5

%

28.3

%

(10.6

)%

19.0

%

Depreciation and amortization

 

(49

)

(8

)

(10

)

(10

)

(10

)

(38

)

Financial income (expense), net

 

(1

)

0

 

(1

)

1

 

0

 

0

 

Income (loss) before income taxes

 

233

 

47

 

60

 

68

 

(31

)

144

 

Capex

 

33

 

3

 

5

 

7

 

16

 

31

 

Number of employees

 

1,294

 

1,320

 

2,189

 

2,687

 

2,698

 

2,223

 

 


(1) Segmentwert nach IFRS für 2003 nicht verfügbar.

 



 

Step 2: New structure. Consolidation.

 

 

 

FY 2003

 

Q1 2004

 

Q2 2004

 

Q3 2004

 

Q4 2004

 

FY 2004

 

Total Revenue

 

(13,198

)

(3,264

)

(3,235

)

(3,226

)

(2,935

)

(12,660

)

Net Revenue

 

0

 

0

 

0

 

0

 

0

 

0

 

EBITDA

 

(17

)

(50

)

(42

)

(100

)

204

 

12

 

Special factors affecting EBITDA

 

0

 

0

 

0

 

(93

)

146

 

53

 

EBITDA, adj.

 

(17

)

(50

)

(42

)

(7

)

58

 

(41

)

Depreciation and amortization

 

48

 

13

 

13

 

17

 

13

 

56

 

Financial income (expense), net

 

76

 

(233

)

53

 

(10

)

(26

)

(216

)

Income (loss) before income taxes

 

107

 

(270

)

24

 

(93

)

191

 

(148

)

Capex

 

(109

)

(48

)

54

 

(9

)

(40

)

(43

)

 



 

IFRS. Consolidated balance sheet.

 

 

 

 

 

Dec. 31, 2003

 

Dec. 31, 2004

 

Assets

 

FN

 

Ger.
GAAP

 

Delta

 

IFRS

 

Ger.
GAAP

 

Delta

 

IFRS

 

Current assets

 

 

 

19.9

 

1.6

 

21.5

 

16.9

 

2.1

 

19.0

 

Cash and cash equivalents

 

 

 

9.1

 

0.0

 

9.1

 

8.0

 

0.0

 

8.0

 

Trade receivables and other receivables

 

88

 

5.7

 

1.9

 

7.6

 

5.1

 

1.6

 

6.7

 

Income tax receivables

 

 

 

1.0

 

0.0

 

1.0

 

0.3

 

0.0

 

0.3

 

Other current financial assets

 

89

 

2.1

 

0.0

 

2.1

 

1.6

 

0.2

 

1.8

 

Inventories

 

90

 

1.2

 

(0.2

)

1.0

 

1.2

 

0.0

 

1.2

 

Other current assets

 

91

 

0.8

 

(0.1

)

0.7

 

0.7

 

0.3

 

1.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncurrent assets

 

 

 

98.1

 

20.0

 

118.1

 

92.7

 

17.4

 

110.1

 

Intangible assets

 

92

 

45.2

 

10.2

 

55.4

 

43.2

 

7.5

 

50.7

 

Property, plant and equipment

 

93

 

47.5

 

1.8

 

49.3

 

44.4

 

1.9

 

46.3

 

Financial assets accounted for using the equity method

 

 

 

2.4

 

0.0

 

2.4

 

2.6

 

0.1

 

2.7

 

Other noncurrent financial assets

 

94

 

0.8

 

0.6

 

1.4

 

0.5

 

1.2

 

1.7

 

Deferred tax assets

 

95

 

1.9

 

7.4

 

9.3

 

1.9

 

6.4

 

8.3

 

Other noncurrent assets

 

96

 

0.3

 

0.0

 

0.3

 

0.1

 

0.3

 

0.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

118.0

 

21.6

 

139.6

 

109.6

 

19.5

 

129.1

 

 



 

IFRS. Consolidated balance sheet.

 

 

 

 

 

Dec. 31, 2003

 

Dec. 31, 2004

 

Shareholder’s equity and
liabilities

 

FN

 

Ger.
GAAP

 

Delta

 

IFRS

 

Ger.
GAAP

 

Delta

 

IFRS

 

Current liabilities

 

 

 

30.3

 

0.1

 

30.4

 

25.6

 

0.6

 

26.2

 

Current financial liabilities

 

97

 

18.1

 

0.8

 

18.9

 

13.0

 

1.1

 

14.1

 

Trade payables and other payables

 

 

 

6.4

 

0.0

 

6.4

 

6.2

 

0.0

 

6.2

 

Income tax liabilities

 

 

 

0.2

 

0.0

 

0.2

 

0.7

 

0.0

 

0.7

 

Current accruals

 

98

 

4.1

 

(0.7

)

3.4

 

4.3

 

(0.6

)

3.7

 

Other current liabilities

 

 

 

1.5

 

0.0

 

1.5

 

1.4

 

0.1

 

1.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncurrent liabilities

 

 

 

53.9

 

11.5

 

65.4

 

46.1

 

10.9

 

57.0

 

Noncurrent financial liabilities

 

99

 

43.5

 

2.8

 

46.3

 

34.9

 

3.2

 

38.1

 

Pension provisions and other employee benefits

 

100

 

4.5

 

(0.3

)

4.2

 

4.6

 

(0.4

)

4.2

 

Other noncurrent accruals

 

101

 

3.1

 

(0.5

)

2.6

 

3.4

 

(0.3

)

3.1

 

Deferred tax liabilities

 

102

 

2.8

 

7.8

 

10.6

 

3.1

 

6.6

 

9.7

 

Other noncurrent liabilities

 

103

 

0.0

 

1.7

 

1.7

 

0.1

 

1.8

 

1.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt

 

 

 

84.2

 

11.6

 

95.8

 

71.7

 

11.5

 

83.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholder’s equity

 

 

 

33.8

 

10.0

 

43.8

 

37.9

 

8.0

 

45.9

 

Capital stock

 

 

 

10.7

 

0.0

 

10.7

 

10.7

 

0.0

 

10.7

 

Additional paid-in capital

 

104

 

50.1

 

(0.6

)

49.5

 

50.1

 

(0.6

)

49.5

 

Ratained earning incl. carryforwards

 

105

 

(24.3

)

4.7

 

(19.6

)

(23.1

)

5.3

 

(17.7

)

Cumulative other comprehensive income

 

106

 

(8.0

)

5.1

 

(2.9

)

(8.5

)

5.9

 

(2.6

)

Consolidated net profit/(loss)

 

107

 

1.3

 

5.1

 

1.9

 

4.6

 

(3.0

)

1.6

 

Own shareholdings

 

 

 

0.0

 

0.6

 

0.0

 

0.0

 

0.0

 

0.0

 

Shareholdings in other ocmpanies (minority interests)

 

108

 

4.0

 

0.0

 

4.2

 

4.0

 

0.4

 

4.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

 

118.0

 

21.6

 

139.6

 

109.6

 

19.5

 

129.1

 

 



 

Preliminary reconciliations of shareholder’s equity.

 

 

 

FN

 

Dec. 31,
2004

 

Dec. 31,
2004

 

Shareholders’ equity under German GAAP

 

 

 

37.9

 

33.8

 

 

 

 

 

 

 

 

 

Goodwill

 

109

 

(3.1

)

(3.5

)

Mobile communications licenses

 

109

 

9.8

 

13.1

 

Software

 

110

 

0.6

 

0.6

 

Borrowing costs

 

111

 

(0.5

)

(0.6

)

Measurement of investments in companies not fully consolidated and not accounted for in the consolidated financial statements under the equity method

 

112

 

0.9

 

0.3

 

Leases

 

113

 

(0.6

)

(0.5

)

Provisions

 

114

 

1.6

 

1.5

 

Pension provisions

 

 

 

0.4

 

0.3

 

Other provisions

 

 

 

1.2

 

1.2

 

Deferred revenue

 

115

 

(1.2

)

(1.1

)

Other IFRS adjustments

 

116

 

0.7

 

0.6

 

Deferred taxes

 

117

 

(0.2

)

(0.4

)

Deferred tax assets

 

 

 

6.4

 

7.4

 

Deferred tax liabilities

 

 

 

(6.6

)

(7.8

)

 

 

 

 

 

 

 

 

Shareholders’ equity under IFRS

 

 

 

45.9

 

43.8

 

 



 

Reconciliation Net debt.

 

 

 

Dec. 31,
2004

 

Sep. 30,
2004

 

Jun. 30,
2004

 

Mar. 31,
2004

 

Dec. 31,
2003

 

Jan. 1,
2004

 

Net debt derived from German GAAP information

 

35,198

 

40,779

 

43,330

 

44,585

 

46,576

 

61,106

 

Lease liabilities

 

2,489

 

2,294

 

2,340

 

2,410

 

2,443

 

1,843

 

Liabilities arising from ABS transactions

 

1,563

 

1,190

 

1,195

 

1,367

 

1,233

 

1,202

 

Other IFRS differences

 

344

 

404

 

452

 

521

 

473

 

164

 

Net debt derived from IFRS information

 

39,592

 

44,667

 

47,317

 

48,883

 

50,725

 

64,315

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bonds

 

39,458

 

43,347

 

46,559

 

49,997

 

51,164

 

56,417

 

Liabilities to banks

 

3,074

 

3,153

 

3,182

 

3,262

 

3,789

 

6,235

 

Liabilities to non-banks from promissory notes

 

651

 

718

 

755

 

769

 

756

 

811

 

Liabilities from derivatives

 

1,096

 

986

 

963

 

1,003

 

1,255

 

1,189

 

Lease liabilities

 

2,487

 

2,294

 

2,340

 

2,410

 

2,443

 

1,843

 

Liabilities arising from ABS transactions

 

1,563

 

1,190

 

1,195

 

1,367

 

1,233

 

1,202

 

Other financial liabilities

 

79

 

76

 

120

 

197

 

52

 

103

 

Gross debt derived from IFRS information

 

48,408

 

51,764

 

55,114

 

59,005

 

60,692

 

67,800

 

Cash and cash equivalents

 

8,038

 

5,928

 

6,614

 

9,198

 

9,131

 

1,904

 

Available-for-sale/Held-for-trading financial assets

 

120

 

636

 

676

 

151

 

137

 

492

 

Derivatives

 

284

 

269

 

235

 

385

 

318

 

805

 

Other financial assets

 

374

 

264

 

272

 

388

 

381

 

284

 

Net debt derived from IFRS information

 

39,592

 

44,667

 

47,317

 

48,883

 

50,725

 

64,315

 

 



 

Reconciliation Cash flow statement.

 

Net cash (used for) /
provided by operating activities

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1 - Q3
2004

 

FY 2004

 

German GAAP

 

 

 

14,316

 

4,250

 

7,128

 

10,808

 

16,307

 

Internally generated software

 

118

 

242

 

15

 

54

 

153

 

254

 

ABS

 

119

 

378

 

(211

)

(51

)

(58

)

(339

)

Leases

 

120

 

150

 

20

 

111

 

160

 

207

 

Interest on borrowings

 

121

 

(41

)

(8

)

(22

)

(29

)

(58

)

Other

 

 

 

8

 

238

 

(16

)

90

 

350

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

 

 

15,053

 

4,304

 

7,204

 

11,124

 

16,721

 

 

Net cash (used for) /
provided by investing activities

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1 - Q3
2004

 

FY 2004

 

German GAAP

 

 

 

(2,073

)

(1,337

)

(3,351

)

(4,352

)

(4,318

)

Internally generated software

 

 

 

(242

)

(15

)

(54

)

(153

)

(254

)

ABS

 

 

 

46

 

19

 

39

 

46

 

41

 

Leases

 

 

 

 

 

22

 

40

 

35

 

37

 

Interest on borrowings

 

 

 

41

 

8

 

22

 

29

 

58

 

Other

 

 

 

(21

)

(32

)

(32

)

(162

)

(66

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

 

 

(2,249

)

(1,335

)

(3,336

)

(4,557

)

(4,502

)

 



 

Net cash (used for) /
provided by financing activities

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1 - Q3
2004

 

FY 2004

 

German GAAP

 

 

 

(5,226

)

(2,606

)

(6,204

)

(9,342

)

(12,652

)

Internally generated software

 

 

 

 

 

 

 

 

 

 

 

 

 

ABS

 

 

 

(424

)

192

 

12

 

12

 

298

 

Leases

 

 

 

(150

)

(42

)

(151

)

(195

)

(244

)

Interest on borrowings

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

3

 

(203

)

65

 

81

 

(284

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

 

 

(5,797

)

(2,659

)

(6,278

)

(9,444

)

(12,882

)

 

Effect of foreign exchange
rate changes on cash and
cash equivalents

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1 - Q3
2004

 

FY 2004

 

German GAAP

 

 

 

(43

)

17

 

30

 

5

 

0

 

Other

 

 

 

10

 

(3

)

(17

)

(9

)

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IFRS

 

 

 

(33

)

14

 

13

 

(4

)

0

 

Other

 

 

 

10

 

(3

)

(17

)

(9

)

0

 

 



 

Delta IFRS

 

FN

 

FY 2003

 

Q1 2004

 

H1 2004

 

Q1 - Q3
2004

 

FY 2004

 

Delta IFRS

 

 

 

737

 

54

 

76

 

316

 

414

 

Net cash (used for) / provided by operating activities

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash (used for) / provided by investing activities

 

 

 

(176

)

2

 

15

 

(205

)

(184

)

Net cash (used for) / provided by financing activities

 

 

 

(571

)

(53

)

(74

)

(102

)

(230

)

Effect of foreign exchange rate changes on cash and cash equivalents

 

 

 

10

 

(3

)

(17

)

(9

)

0

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

0

 

0

 

0

 

0

 

0

 

 



 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

DEUTSCHE TELEKOM AG

 

 

 

 

 

By:

/s/ ppa. Rolf Ewenz-Sandten

 

 

 

Name: Rolf Ewenz-Sandten

 

 

Title: Vice President

 

 

Date: April 20, 2005