Deutsche Telekom posted a net loss for 2002 of EUR 24.6 billion. Much of the loss was attributed to the company’s strategic review in Q3 2002, in which it reported write-downs of EUR 18 billion for T-Mobile USA, as well as additional charges for UMTS licenses in the UK and Holland. Some other highlights of the report:
- Group revenue increased 11% to EUR 53.7 billion for 2002. For Q4, group revenue was EUR 14.5 billion, up 9% compared to the same period a year earlier.
- As of the end of 2002, Deutsche Telekom’s net debt stood at EUR 61.1 billion, down by EUR 2.9 billion for the year.
- So far, the company has sold off EUR 4.4 billion in assets. Its de-leveraging program targets EUR 6.2 to 8.5 billion in asset sales.
- Staff reductions are underway with some 10,000 personnel reductions planned for 2003. These include 4,500 transfers in February to the new Personnel Services Agency.
- The T-Com division had 3.3 million DSL contracts sold, as of 28-February-2003. Some 22.4 million ISDN channels remained in service as of the end of 2002, an increase from 20.4 million a year earlier. T-Com’s domestic revenue for 2002 declined 1.3% for 2002, but appears to be stabilizing given the increase in access revenue and in calling revenue.
- T-Mobile USA was the fastest growing wireless carrier in the US for 2002 with 2.9 million net additions, giving it a total of 9.9 million users. The company said ARPU levels are holding steady and customer churn and bad debt issue are under control.
- For T-Mobile worldwide, the number of subscribers served by T-Mobile majority shareholdings increased from 46.7 million to 53.9 million in 2002.
- T-Systems reported EUR 11.3 billion in revenue, a decline of 4.9% for the year.
- T-Online now reaches 12.2 million subscribers, of which 10 million are in Germany. About 2.7 million T-Online subscribers are using DSL. The division posted EUR 1.8 billion in revenue for the year, a 26% increase.
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