- Overview of the 2010 financial year
- Highlights in the 2010 financial year
- Group organization
- Group strategy and Group management
- The economic environment
- Development of business in the Group
- Development of business in the operating segments
- Corporate Responsibility
- Innovation and product development
- Employees
- Risk and opportunity management
- Significant events after the reporting period
- Other disclosures
- Development of revenue and profits
We have the expertise,
the financial strength, and the right people.
the financial strength, and the right people.
Overview of the 2010 financial year.
Net revenue. (billions of €)
- Net revenue decreased by 3.4 percent compared with the prior year. Excluding T-Mobile UK, net revenue increased slightly year-on-year by EUR 0.3 billion.
- Changes in the composition of the Group (OTE, T-Mobile UK) had a net negative effect of EUR 1.9 billion, while exchange rate effects totaling EUR 1.2 billion had a positive impact on net revenue.
- Operations were positively impacted by the development of mobile data revenue and the increase in revenue from Systems Solutions as a result of new deals.
- Negative impacts on operations included fixed lines lost to competition and regulatory price cuts.
Proportion of net revenue generated internationally. (%)
- Proportion of net revenue generated internationally decreased slightly to 56.3 percent, compared with 56.6 percent in the prior year.
- Domestic net revenue amounted to EUR 27.3 billion, EUR 0.8 billion lower than in the prior year. International net revenue decreased year-on-year by 3.9 percent or EUR 1.4 billion.
- The decline in international net revenue is primarily attributable to the establishment of the new joint venture Everything Everywhere in the United Kingdom. T-Mobile UK has no longer been fully consolidated since April 1, 2010
Adjusted EBITDA. (billions of €)
- We generated adjusted EBITDA of EUR 19.5 billion, achieving the target we originally communicated for the year of approximately EUR 20 billion, less EUR 0.4 to 0.5 billion following the deconsolidation of T-Mobile UK.
- Fixed-network lines lost to competitors, price changes imposed by the regulator, and newly imposed or increased special taxes on telecommunications services had a negative impact on adjusted EBITDA.
- Cost management and the Save for Service program only partly offset these effects.
Free cash flow (before dividend payments and spectrum investment). (billions of €)
- Free cash flow amounted to EUR 6.5 billion, exceeding the Company’s guidance for 2010 by EUR 0.3 billion despite a year-on-year decrease of EUR 0.6 billion in cash inflows from factoring.
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