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Deutsche Telekom AG the 2011 Financial Year

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Deutsche Telekom. The 2011 financial year. 2011 The Telekom. Deutsche The 2011 financial year. Whenever. Whatever. Wherever. II Selected financial data of the Group. Change compared to 2011 2010 2009 2008 2007 2006 2005 prior year billions of billions of billions of billions of billions of billions of billions of % a € € € € € € € Revenue and earnings Net revenue (6.0) 58.7 62.4 64.6 61.7 62.5 61.3 59.6 Of which: domestic a % 1.2 44.9 43.7 43.4 46.8 49.1 52.9 57.4 Of which: international a % (1.2) 55.1 56.3 56.6 53.2 50.9 47.1 42.6 Profit from operations (EBIT) 1.5 5.6 5.5 6.0 7.0 5.3 5.3 7.6 Net profit (loss) (67.1) 0.6 1.7 0.4 1.5 0.6 3.2 5.6 Net profit (loss) (adjusted for special factors) (15.2) 2.9 3.4 3.4 3.4 3.0 3.9 4.7 EBITDA a, b, c 15.6 20.0 17.3 19.9 18.0 16.9 16.3 20.1 EBITDA (adjusted for special factors) a, b, c (4.0) 18.7 19.5 20.7 19.5 19.3 19.4 20.7 EBITDA margin (adjusted for special factors) a % 0.6 31.8 31.2 32.0 31.6 30.9 31.7 34.8 Profitability ROCE % 0.3 3.8 3.5 3.9 – – – – Statement of financial position Total assets (4.1) 122.5 127.8 127.8 123.1 120.7 130.2 128.5 Shareholders’ equity (7.2) 39.9 43.0 41.9 43.1 45.2 49.7 48.6 Equity ratio a % (1.1) 32.6 33.7 32.8 35.0 37.5 38.2 37.8 Net debt a, c (5.1) 40.1 42.3 40.9 38.2 37.2 39.6 38.6 Relative debt (Net debt/EBITDA (adjusted for special factors)) n.a. 2.1 2.2 2.0 2.0 1.9 2.0 1.9 Gearing (Net debt/Shareholders’ equity) 0.0 1.0 1.0 1.0 0.9 0.8 0.8 0.8 Cash capex (14.7) (8.4) (9.9) (9.2) (8.7) (8.0) (11.8) (9.3) Cash flows Net cash from operating activities 10.1 16.2 14.7 15.8 15.4 13.7 14.2 15.1 Free cash flow (before dividend payments, spectrum investment, PTC transaction and AT&T break-up fee) a, c, d, e (1.9) 6.4 6.5 7.0 7.0 6.6 3.0 6.2 Net cash used in investing activities 13.4 (9.3) (10.7) (8.6) (11.4) (8.1) (14.3) (10.1) Net cash used in financing activities 6.5 (6.0) (6.4) (5.1) (3.1) (6.1) (2.1) (8.0) Employees Average number of employees (full-time equivalents, without trainees/student interns) thousands (4.8) 240 252 258 235 244 248 244 Revenue per employee a thousands of € (1.3) 244.0 247.2 250.8 262.5 256.5 246.9 244.3 T-Share – key figures Earnings per share (basic and diluted) in accordance with IFRS € (66.7) 0.13 0.39 0.08 0.34 0.13 0.74 1.31 Dividend per share € 0.0 0.70 0.70 0.78 0.78 0.78 0.72 0.72 Total dividend f billions of € 0.0 3.0 3.0 3.4 3.4 3.4 3.1 3.0 Share buy-back g billions of € n.a. 0.0 0.4 – – – – – Total number of ordinary shares at the reporting date h millions 0.0 4,321 4,321 4,361 4,361 4,361 4,361 4,198 a Calculated on the basis of millions for greater precision. Changes to percentages expressed as d Figures for 2006 include EUR 3.3 billion for the acquisition of licenses. percentage points. e Since the beginning of the 2007 financial year, Deutsche Telekom has defined free cash flow b Deutsche Telekom defines EBITDA as profit/loss from operations before depreciation, amortization as cash generated from operations less interest paid and net cash outflows for investments and impairment losses. in intangible assets (excluding goodwill) and property, plant and equipment. Prior-year figures c EBITDA, EBITDA adjusted for special factors, net debt, and free cash flow are non-GAAP figures have been adjusted accordingly. not governed by the International Financial Reporting Standards (IFRS). They should not be viewed f Subject to approval from the 2012 shareholders’ meeting concerning the dividend payments in isolation as an alternative to profit or loss from operations, net profit or loss, net cash from for the 2011 financial year. For more detailed explanations, please refer to Note 28 in the operating activities, the debt reported in the consolidated statement of financial position, or other notes to the consolidated financial statements, “Dividend per share” on page 214. Deutsche Telekom key performance indicators presented in accordance with IFRS. For detailed g Relating to the shareholder remuneration policy adopted in 2010 for the 2010 to 2012 information and calculations, please refer to the section on “Development of business in financial years. the Group” of the combined management report in this Annual Report, page 76 et seq. h Including treasury shares held by Deutsche Telekom AG. III Deutsche Telekom is an integrated telecommunications company that offers products and services from a single source. We provide fixed-network and mobile services, Internet, and TV for consumers, as well as ICT solutions for business customers and multinational corporations. Our high-speed networks form the backbone of modern communication. Thanks to our Internet- and cloud-based services, our customers enjoy unrestricted and convenient access to information, communication, and entertainment. We are one of the world’s leading integrated telecommunications companies. Quality, security, and sustainability are our top priorities. We live up to our social responsibility by engaging in programs to protect the climate and the environment and in initiatives to promote education and integration. Content. II Selected financial data of the Group 157 Consolidated financial statements III Content IV The operating segments 158 Consolidated statement of financial position 160 Consolidated income statement 1 Whenever. Whatever. Wherever. 161 Consolidated statement of comprehensive income 162 Consolidated statement of changes in equity Telekom magazine 164 Consolidated statement of cash flows 165 Notes to the consolidated financial statements 24 To our shareholders 250 Responsibility statement 251 Independent auditor’s report 24 Letter to our shareholders 28 The Board of Management 32 Supervisory Board’s report 253 Boards, seats, and further information 40 Corporate governance report 254 Members of the Supervisory Board including seats 46 The T-Share on the supervisory boards of other companies 256 Members of the Board of Management including seats 51 Combined management report on the supervisory boards of other companies 258 Glossary 52 Overview of the 2011 financial year 263 Disclaimer 55 Highlights in the 2011 financial year 264 Financial calendar/Contacts 60 Group organization V Deutsche Telekom worldwide 66 Group strategy VI Index 69 Management of the Group VII Key data of the Group’s operating segments 71 The economic environment 76 Development of business in the Group 89 Development of business in the operating segments 110 Development of business at Deutsche Telekom AG 113 Corporate responsibility 120 Innovation and product development 126 Employees 131 Risk and opportunity management 146 Accounting-related internal control system 147 Significant events after the reporting period 148 Other disclosures 149 Development of revenue and profits IV The operating segments. Germany. Pages 90 – 95 We enhanced profitability in our German operations despite increased Change 2011 2010 2009 2008 competition and tighter regulation. At 39.9 percent, our (adjusted) EBITDA billions billions billions billions margin was significantly higher than last year. Our Entertain TV service % of € of € of € of € generated customer growth of more than 33 percent. We gained one million Total revenue (4.4) 24.0 25.1 25.4 26.4 mobile contract customers and maintained our position as market leader in EBIT (profit from operations) (9.6) 4.4 4.9 5.1 4.6 terms of service revenues. Mobile data revenues grew by more than 30 percent, due above all to the sharp increase in smartphone sales and attractive rate EBITDA (adjusted for special factors) (0.2) 9.6 9.6 9.6 9.8 plans for mobile Internet use. In the fixed network, the number of line losses Average number of employees (full-time was around 21 percent lower than in 2010 – a historical low. equivalents, without trainees/student interns) (4.2) 76,028 79,364 84,584 89,961 Europe. Pages 96 – 101 We continued to step up the capacities and speeds of our European networks Change 2011 2010 2009 2008 and saw the number of broadband lines climb by 4.5 percent to 4.6 million, billions billions billions billions our Internet television (IPTV) customer base grow by 24 percent, and the % of € of € of € of € number of mobile contract customers expand by 3 percent to 27 million Total revenue (10.2) 15.1 16.8 19.6 15.9 customers. Mobile data revenues grew by a substantial 15 percent, enabling EBIT (profit from operations) (20.8) 0.8 1.0 0.1 1.4 us to maintain key growth courses despite the difficult economic situation. While the adjusted EBITDA margin climbed slightly, the development of EBITDA (adjusted for special factors) (8.8) 5.2 5.7 6.4 5.0 revenue in our European operations was impacted by regulatory decisions Average number of employees (full-time and intensified competition.
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