Please activate JavaScript!
Please install Adobe Flash Player, click here for download

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

12 Free cash flow (before dividend payments, before spectrum investment).* Q1  2012  millions of € Q1 2011 millions of € Change millions of € Change % FY 2011 millions of € Cash generated from operations* 3,977 3,901 76 1.9 16,863 Interest received (paid) (778) (832) 54 6.5 (2,538) Net cash from operating activities* 3,199 3,069 130 4.2 14,325 Cash outflow for investments in intangible assets (excluding goodwill and before spectrum investment) and property, plant and equipment (cash capex) (2,129) (2,120) (9) (0.4) (8,260) Proceeds from disposal of intangible assets (excluding goodwill) and property, plant and equipment 52 112 (60) (53.6) 356 Free cash flow (before dividend payments and spectrum investment)* 1,122 1,061 61 5.7 6,421 * before PTC and AT&T transactions. Net debt decreased by EUR 1.5 billion or 3.7 percent compared with the end of 2011. This decrease was attributable to the free cash flow before dividend payments and spectrum investment as well as before the AT&T transaction (EUR 1.1 billion), the sale of the shares in Telekom Srbija (EUR 0.4 billion), as well as exchange rate and other effects (EUR 0.3 billion). These effects were partially offset by dividend payments for non-controlling interests (EUR 0.1 billion) and effects in connection with the AT&T transaction (EUR 0.2 billion). For more information on net debt, please refer to the disclosures on the reconciliation of the pro forma figures in the section “Additional information” (page 39). Free cash flow. Free cash flow in the Group before dividend payments and spectrum investment and before PTC and AT&T transactions increased by EUR 61 million year-on-year in the reporting period. While net cash from operating activities increased slightly, cash capex remained unchanged against the prior-year period. Net cash from operating activities (before PTC and AT&T transactions) in the first quarter of 2012 increased by EUR 130 million compared with the prior-year period to EUR 3.2 billion. This was mainly attributable to the following cash flows: lower income tax paid (EUR 0.1 billion), lower net interest payments (EUR 0.1 billion) and cash inflows from the canceling of interest rate swaps (EUR 0.1 billion). These effects were partially offset by cash outflows of EUR 0.1 billion in connection with investigations by the U.S. authorities into contracts in the F.Y.R.O. Macedonia and Montenegro. Dividend payments from the Everything Everywhere joint venture were EUR 0.1 billion lower in the first quarter of 2012 compared with the prior-year period. Whereas in the first quarter of 2011 cash outflows of EUR 0.4 billion were recorded for the PTC transaction, the first quarter of 2012 saw cash outflows of EUR 0.2 billion in connection with the AT&T transaction with regard to the termination of the agreement for the sale of T-Mobile USA.

Pages