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Annual Report 2009

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Annual Report 2009 The 2009 fi nancial year. Toward the new Deutsche Telekom. II Selected fi nancial data of the Deutsche Telekom Group. billions of € Change compared to prior year (%) a 2009 2008 2007 2006 2005 Revenue and earnings Net revenue 4.8 64.6 61.7 62.5 61.3 59.6 Of which: domestic (%) (3.4) 43.4 46.8 49.1 52.9 57.4 Of which: international (%) 3.4 56.6 53.2 50.9 47.1 42.6 Profit from operations (EBIT) (14.6) 6.0 7.0 5.3 5.3 7.6 Net profit (76.2) 0.4 1.5 0.6 3.2 5.6 Net profit (adjusted for special factors) (1.1) 3.4 3.4 3.0 3.9 4.7 EBITDA a, b, c 10.5 19.9 18.0 16.9 16.3 20.1 EBITDA (adjusted for special factors) a, b, c 6.2 20.7 19.5 19.3 19.4 20.7 EBITDA margin (adjusted for special factors) (%) a 0.4 32.0 31.6 30.9 31.7 34.8 Statement of financial position Total assets 3.8 127.8 123.1 120.7 130.2 128.5 Shareholders’ equity (2.7) 41.9 43.1 45.2 49.7 48.6 Equity ratio (%) a, d (2.1) 30.2 32.3 34.7 35.8 35.5 Net debt a, c 7.2 40.9 38.2 37.2 39.6 38.6 Cash capex (5.7) (9.2) (8.7) (8.0) (11.8) (9.3) Cash flows Net cash from operating activities e 2.8 15.8 15.4 13.7 14.2 15.1 Free cash flow (before dividend payments) a, c, f, g (0.9) 7.0 7.0 6.6 3.0 6.2 Net cash used in investing activities e 24.0 (8.6) (11.4) (8.1) (14.3) (10.1) Net cash used in financing activities (65.4) (5.1) (3.1) (6.1) (2.1) (8.0) Employees Average number of employees (full-time equivalents, without trainees/student interns) (thousands) 9.7 258 235 244 248 244 Revenue per employee (thousands of €) a (4.5) 250.8 262.5 256.5 246.9 244.3 T-Share – key figures Earnings per share/ADS (basic and diluted) in accordance with IFRS (€) h (76.5) 0.08 0.34 0.13 0.74 1.31 Dividend per share/ADS (€) 0.0 0.78 i 0.78 0.78 0.72 0.72 Total dividend (billions of €) 0.0 3.4 i 3.4 3.4 3.1 3.0 Total number of ordinary shares at the reporting date (millions) j 0.0 4,361 4,361 4,361 4,361 4,198 a Calculated on the basis of millions for greater precision. Changes to percentages expressed f Before cash outflows totaling EUR 0.1 billion in 2007 for investments in parts of Centrica PLC as percentage points. taken over by T-Systems UK as part of an asset deal. Figures for 2006 include payments for the b Deutsche Telekom defines EBITDA as profit/loss from operations before depreciation, amortiza- acquisition of licenses totaling EUR 3.3 billion; and figures for 2005 include payments for the tion and impairment losses. acquisition of network infrastructure and licenses in the United States totaling EUR 2.1 billion. c EBITDA, EBITDA adjusted for special factors, net debt, and free cash flow are non-GAAP figures g Since the beginning of the 2007 financial year, Deutsche Telekom has defined free cash flow not governed by the International Financial Reporting Standards (IFRS). They should not be as cash generated from operations less interest paid and net cash outflows for investments in viewed in isolation as an alternative to profit or loss from operations, net profit or loss, net cash intangible assets (excluding goodwill) and property, plant and equipment. Prior-year figures have from operating activities, the debt reported in the consolidated statement of financial position, been adjusted accordingly. or other Deutsche Telekom key performance indicators presented in accordance with IFRS. For h Calculation of basic and diluted earnings per share in accordance with IFRS as specified in detailed information and calculations, please refer to the section on “Development of business IAS 33, “Earnings per share.” The share to ADS ratio is 1:1. in the Group” of the Group management report in this Annual Report. i Subject to approval by the shareholders' meeting. For more detailed explanations, please refer d Based on shareholders’ equity excluding amounts earmarked for dividend payments, which are to Note 27 in the notes to the consolidated financial statements, “Dividend per share.” treated as current liabilities. j Including treasury shares held by Deutsche Telekom AG. e Current finance lease receivables were previously reported in net cash from operating activities. Since 2007 they have been reported under net cash from/used in investing activities. Prior-year figures have been adjusted accordingly. III The Group and its operating segments. Deutsche Telekom has realigned its management structure: Regional markets will take on greater responsibility in combined fixed-network and mobile business. As a result, we report separately on the five operating segments, Germany, United States, Europe, Southern and Eastern Europe, and Systems Solutions. Group Headquarters & Shared Services performs strategic and cross-divisional management functions and is responsible for operating activities that are not directly related to core business.* Germany. Page 80 – 83 billions of € Change compared to prior year Under this segment, we now report on fixed-network and mobile busi- (%) 2009 2008 ness in Germany including the sale of fixed-network services to resellers Total revenue (3.7) 25.4 26.4 (wholesale). Business in Germany made good progress despite the EBIT (profit from operations) 9.5 5.1 4.6 challenging economic environment, the regulatory requirements, and EBITDA (adjusted for special factors) (1.6) 9.6 9.8 Average number of employees (full-time intense competition. We achieved a 45-percent market share of new equivalents, without trainees/student interns) (6.0) 84,584 89,961 broadband customers and a 46-percent year-on-year increase for data revenue in the mobile communications market. United States. Page 84 – 85 billions of € Change compared to prior year This segment comprises all the mobile communications activities of (%) 2009 2008 Deutsche Telekom in the United States. T-Mobile USA offers mobile Total revenue 3.4 15.5 15.0 voice and data services to consumers and business customers. In order EBIT (profit from operations) (2.9) 2.2 2.3 to foster additional customer growth, we have continued to expand EBITDA (adjusted for special factors) 0.5 4.3 4.2 Average number of employees (full-time our network in the United States, nearly doubled 3G coverage, and equivalents, without trainees/student interns) 6.0 38,231 36,076 upgraded the speed of the 3G network. T-Mobile USA received several awards from independent consumer organizations for its excellent customer service. Europe. Page 86 – 88 billions of € Change compared to prior year The Europe operating segment covers the mobile communications (%) 2009 2008 companies in the United Kingdom, Poland, the Netherlands, the Czech Total revenue (11.6) 10.0 11.4 Republic and Austria, as well as the International Carrier Sales and EBIT (profit (loss) from operations) n.a. (0.9) 0.5 Solutions unit. We have continually improved the structure of our EBITDA (adjusted for special factors) (13.0) 2.6 2.9 Average number of employees (full-time customer base and increased the contract customer base in this seg- equivalents, without trainees/student interns) 0.9 18,105 17,945 ment. Innovative mobile Internet applications and attractive smart- phones contributed to this development. * For detailed tables showing operational development of the segments and Group Headquarters & Shared Services along with explanatory footnotes, please refer to the management report. IV Southern and Eastern Europe. Page 89– 91 billions of € Change compared to prior year This segment comprises the fixed-network and mobile communications (%) 2009 2008 operations of our national companies in Greece, Hungary, Croatia, Total revenue n.a. 9.7 4.6 Slovakia, Romania, Bulgaria, Albania, the F.Y.R.O. Macedonia, and EBIT (profit from operations) 13.3 1.0 0.9 Montenegro. After having been fully consolidated for the first time, EBITDA (adjusted for special factors) 90.0 3.8 2.0 Average number of employees (full-time OTE contributed EUR 5.4 billion to net revenue of the Group. Due to equivalents, without trainees/student interns) n.a. 51,172 21,229 the inclusion of the entire OTE group, our customer base increased by 1.9 million broadband lines and over 22,300 mobile customers. Systems Solutions. Page 92 –93 billions of € Change compared to prior year T-Systems offers individual ICT solutions for corporate customers. To this (%) 2009 2008 end, the company operates networks and data centers all over the world. Total revenue (5.8) 8.8 9.3 By focusing on systems solutions business for corporate customers, EBIT (profit (loss) from operations) n.a. (0.01) 0.1 T-Systems won a large number of tenders for cloud services, dynamic EBITDA (adjusted for special factors) 11.7 0.9 0.8 Average number of employees (full-time SAP services, and telecommunications and data services. The world- equivalents, without trainees/student interns) (1.7) 45,328 46,095 wide financial and economic crisis also left its mark on the level of new orders, however. Group Headquarters & Shared Services. Page 94 – 95 billions of € Change compared to prior year Group Headquarters & Shared Services performs strategic and cross- (%) 2009 2008 divisional management functions and is responsible for operating activities Total revenue (13.3) 2.4 2.8 that are not directly related to core business.
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