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Deutsche Telekom AG - Interim Group report - January 1 to March 31, 2012

11Interim Group management report Average headcount decreased by 4.3 percent compared with the prior-year period. This trend is largely attributable to a lower international headcount, which was down by 7.4 percent. In our Europe operating segment, downsizing programs carried out as a result of programs to enhance efficiency contributed to this lower figure. In the United States operating segment, fewer staff were employed in customer support and sales units compared with the prior-year period. Average headcount in Germany decreased by 1.1 percent, mainly due to socially responsible staff restructuring and reduction in the Germany operat- ing segment and a reduction in Vivento’s headcount at Group Headquarters & Shared Services. The overall decrease was partially offset by increased staff levels in the Systems Solutions operating segment, attributable to employees taken on in connection with big deals. Financial position of the Group. Structure of the statement of financial position. (millions of €) Non-current financial liabilities Current financial liabilities Deferred tax liabilities Provisions for pensions and other employee benefits Trade and other payables Other liabilities Shareholders’ equity Liabilities and shareholders’ equity Intangible assets Property, plant and equipment Trade receivables Investments accounted for using the equity method Other assets 100 % Assets 41 % 34 % 5 % 6 % 14 % 120,484 Mar. 31, 2012 Dec. 31, 2011 122,542 41 % 34 % 5 % 6 % 14 % Mar. 31, 2012 32 % 7 % 7 % 12 % 33 % 120,484122,542 31 % 7 % 11 % 8 % 5 % 5 % 5 % 4 % 33 % Dec. 31, 2011 The level of total assets decreased by EUR 2.1 billion compared with December 31, 2011, although the structure did not change. The decrease of EUR 0.4 billion in non-current assets and disposal groups held for sale compared with December 31, 2011 to EUR 0.1 billion is primarily attributable to the sale of the shares in Telekom Srbija on January 25, 2012. The decrease of EUR 0.6 billion in intangible assets to EUR 49.5 billion mainly resulted from amortization of EUR 0.8 billion and exchange rate effects of EUR 0.4 billion. Investments were made in the amount of EUR 0.4 billion. The decrease of EUR 1.1 billion in property, plant and equipment to EUR 40.9 billion is primarily attributable to depreciation of EUR 1.9 billion and exchange rate effects of EUR 0.1 billion. This was partially offset by investments of EUR 1.3 billion. Current and non-current financial liabilities decreased by EUR 2.0 billion compared with the end of 2011 to EUR 46.3 billion in total. For more informa- tion, please refer to the following table and the accompanying explanations. The decrease of EUR 1.1 billion in trade and other payables to EUR 5.3 billion mainly related to the Germany operating segment and to the Europe and United States operating segments. Change in net debt. (millions of €) (380) Sale of Telekom Srbija 226 Effects in connection with the AT&T transaction 59 Dividend payments 40,121 (1,122) (277) 38,627 Net debt at Jan. 1, 2012 Free cash flow (before dividend payments and spectrum investment)* Exchange rate and other effects Net debt at Mar. 31, 2012 * and before AT&T transaction.

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