Telekom Austria : Consolidated Financial Statement PDF (0.85 MB)

Consolidated Financial Statements 2020 1)

TELEKOM AUSTRIA AG - Consolidated

Statement of Comprehensive Income 2

TELEKOM AUSTRIA AG - Consolidated

Statement of Financial Position 3

TELEKOM AUSTRIA AG - Consolidated

Statement of Cash Flows 4

TELEKOM AUSTRIA AG - Consolidated State-

ment of Changes in Stockholders' Equity 5

TELEKOM AUSTRIA AG - Notes to the

Consolidated Financial Statements 7

(1) Segment Reporting 7

(2) The Company 9

(3) Basis of Presentation 10

(4) Use of Estimates and Judgements 13 12

(5) Revenues 13

(6) Cost and Expenses 16

(7) Financial Result 17

(8) Earnings per Share 18

(9) Cash and Cash Equivalents 18

(10) Accounts Receivable: Subscribers,

Distributors and Other, Net 19

(11) Related Party Transactions 19

(12) Inventories 20

(13) Other Current Assets, Net 21

(14) Contract Assets 22

(15) Property, Plant and Equipment 22

(16) Intangibles 24

(17) Goodwill 27

(18) Assets Held for Sale/Investments

in Associates 30

(19) Investments 31

(20) Other Non-current Assets 32

1) The Consolidated Financial Statements and the Group Management Report are a translation from the original German versions, which are the decisive versions in all cases.

(21) Short-term Debt 32

(22) Accounts Payable 33

(23) Accrued Liabilities and

Provisions, Asset Retirement

Obligation and Restructuring 34

(24) Contract Liabilities 37

(25) Long-term Debt 37

(26) Other Non-current Liabilities 38

(27) Employee Benefits 38

(28) Stockholders' Equity 42

(29) Income Taxes 44

(30) Leases 47

(31) Share-based Compensation 50

(32) Cash Flow Statement 51

(33) Financial Instruments 52

(34) Companies and Business Combinations 59

(35) Contingent Assets and Liabilities 61

(36) Remuneration Paid to the Management

Board and Supervisory Board 62

(37) Employees 62

(38) Subsequent and Other Events 62

(39) Release for Publication 63

TELEKOM AUSTRIA AG - Consolidated Statement of Comprehensive Income

in TEUR	Notes	2020	2019
Service revenues	3,804,527	3,805,476
Equipment revenues	659,358	663,855
Other operating income	85,525	95,836
Total revenues (incl. other operating income)	(5)	4,549,409	4,565,166
Cost of service	- 1,311,915	- 1,302,516
Cost of equipment	- 652,416	- 653,812
Selling, general & administrative expenses	- 997,375	- 1,029,679
Other expenses	- 10,912	- 18,535
Total cost and expenses	(6)	- 2,972,619	- 3,004,542
Earnings before interest, tax, depreciation and amortization - EBITDA	1,576,790	1,560,624
Depreciation and amortization	(15) (16)	- 774,335	- 785,427
Depreciation of right-of-use assets	(30)	- 163,515	- 160,379
Operating income - EBIT	638,940	614,818
Interest income	3,777	5,350
Interest expense	- 103,909	- 102,935
Interest on employee benefits and restructuring and other financial items, net	2,474	- 35,847
Foreign currency exchange differences, net	- 18,871	535
Equity interest in net income of associated companies	(18)	- 11,560	- 316
Financial result	(7)	- 128,088	- 133,213
Earnings before income tax - EBT	510,851	481,605
Income tax	(29)	- 122,027	- 154,164
Net result	388,824	327,442
Attributable to:
Equity holders of the parent	388,421	326,963
Non-controlling interests	(34)	403	479
Basic and diluted earnings per share attributable to equity holders of the parent in euro	(8)	0.58	0.49
Other comprehensive income items:
Items that may be reclassified to profit or loss:
Effect of translation of foreign entities	(3) (28)	- 82,536	17,173
Realized result on hedging activities, net of tax	(33)	4,380	4,380
Unrealized result on debt instruments at fair value, net of tax	(19)	7	13
Realized result on debt instruments at fair value, net of tax	(7)	16	13
Items that will not be reclassified to profit or loss:
Remeasurement of defined benefit obligations, net of tax	(27)	- 9,490	- 12,549
Total other comprehensive income (loss)	- 87,622	9,030
Total comprehensive income (loss)	301,202	336,472
Attributable to:
Equity holders of the parent	300,799	335,995
Non-controlling interests	(34)	403	477
See accompanying Notes to the Consolidated Financial Statements.
For impairment losses of accounts receivable: subscribers, distributors and other, see Note (6).
The use of automated calculation systems may give rise to rounding differences.
2

TELEKOM AUSTRIA AG - Consolidated Statement of Financial Position

December 31,	December 31,
in TEUR	Notes	2020	2019
Current assets
Cash and cash equivalents	(9)	210,879	140,293
Short-term investments	(19)	164,821	0
Accounts receivable: Subscribers, distributors and other, net	(10)	782,628	873,048
Receivables due from related parties	(11)	495	920
Inventories, net	(12)	90,761	109,318
Income tax receivable	(29)	915	485
Other current assets, net	(13)	152,401	148,549
Contract assets	(14)	106,845	124,205
1,509,745	1,396,819
Assets held for sale	(18)	0	33,476
Total current assets	1,509,745	1,430,295
Non-current assets
Property, plant and equipment, net	(15)	2,753,145	2,840,257
Right-of-use assets, net	(30)	853,078	941,957
Intangibles, net	(16)	1,678,023	1,784,224
Goodwill	(17)	1,284,010	1,278,845
Long-term investments	(19)	12,425	14,317
Deferred income tax assets	(29)	96,487	168,940
Other non-current assets, net	(20)	25,062	27,181
Total non-current assets	6,702,229	7,055,722
TOTAL ASSETS	8,211,974	8,486,017
Current liabilities
Short-term debt	(21)	- 749,061	- 123,000
Lease liabilities short-term	(30)	- 154,374	- 152,621
Accounts payable	(22)	- 685,774	- 909,461
Accrued liabilities and current provisions	(23)	- 246,408	- 239,406
Income tax payable	(29)	- 23,992	- 38,751
Payables due to related parties	(11)	- 181	- 608
Contract liabilities	(24)	- 188,658	- 173,954
Total current liabilities	- 2,048,448	- 1,637,802
Non-current liabilities
Long-term debt	(25)	- 1,793,703	- 2,539,575
Lease liabilities long-term	(30)	- 700,559	- 788,222
Deferred income tax liabilities	(29)	- 4,074	- 6,653
Other non-current liabilities	(26)	- 53,901	- 65,730
Asset retirement obligation and restructuring	(23)	- 586,018	- 581,987
Employee benefits	(27)	- 231,513	- 220,130
Total non-current liabilities	- 3,369,769	- 4,202,297
Stockholders' equity
Capital stock	- 1,449,275	- 1,449,275
Treasury shares	7,803	7,803
Additional paid-in capital	- 1,100,148	- 1,100,148
Retained earnings	- 1,026,869	- 791,187
Other comprehensive income (loss) items	776,877	689,254
Equity attributable to equity holders of the parent	(28)	- 2,791,611	- 2,643,552
Non-controlling interests	- 2,146	- 2,367
Total stockholders' equity	- 2,793,757	- 2,645,919
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	- 8,211,974	- 8,486,017
See accompanying Notes to the Consolidated Financial Statements.
The use of automated calculation systems may give rise to rounding differences.

4

TELEKOM AUSTRIA AG - Consolidated Statement of Cash Flows

Notes	2020	2019
510,851	481,605
(15)	517,666	511,606
(16)	256,669	273,821
(30)	163,515	160,379
(18)	11,560	316
(7)	- 793	- 2,035
(5) (6)	4,702	- 1,579
Net period cost of labor obligations and restructuring	(7) (23) (27)	97,821	103,313
Foreign currency exchange differences, net	(7)	18,871	- 535
Interest income	(7)	- 3,777	- 5,350
Interest expense	(7)	97,116	129,667
Other adjustments	(32)	- 3,793	- 7,481
Non-cash and other reconciliation items	1,159,556	1,162,122
Accounts receivable: Subscribers, distributors and other, net	(10)	54,445	- 38,761
Prepaid expenses	(13)	- 3,495	4,500
Due from related parties	(11)	425	462
Inventories	(12)	14,844	22,569
Other assets	(13) (20)	2,276	- 14,067
Contract assets	(14)	17,153	17,050
Accounts payable and accrued liabilities	(22) (23)	- 113,253	- 12,633
Due to related parties	(11)	- 426	80
Contract liabilities	(24)	15,332	13,798
Working capital changes	- 12,698	- 7,003
Employee benefits and restructuring paid	(23) (27)	- 115,259	- 113,948
Interest received	(7)	3,814	5,391
Income taxes paid	(29)	- 65,206	- 70,142
Net cash flow from operating activities	1,481,059	1,458,026
Capital expenditures paid	(32)	- 742,530	- 873,872
Proceeds from sale of plant, property and equipment	(15)	17,761	14,271
Purchase of investments	(19)	- 302,446	- 1,791
Proceeds from sale of investments	(19)	137,757	977
Acquisition of businesses, net of cash acquired	(34)	- 4,992	- 1,018
Sale of shares of associated companies	(18) (34)	19,543	127
Net cash flow from investing activities	- 874,906	- 861,306
Interest paid	(7)	- 100,615	- 108,303
Change in short-term debt	(21) (32)	- 119,812	121,158
Repayments of short-term debt	(21) (32)	0	- 240,000
Dividends paid	(28)	- 153,364	- 140,063
Acquisition of non-controlling interest	(34)	0	- 110
Deferred consideration paid for business combinations	(34)	0	- 3,503
Lease principal paid	(30)	- 153,802	- 149,482
Net cash flow from financing activities	- 527,593	- 520,304
Adjustment to cash flows due to exchange rate fluctuations, net	(3)	- 7,975	246
Net change in cash and cash equivalents	70,585	76,662
Cash and cash equivalents beginning of period	(9)	140,293	63,631
Cash and cash equivalents end of period	(9)	210,879	140,293
See accompanying Notes to the Consolidated Financial Statements.
The use of automated calculation systems may give rise to rounding differences.
4

Result on sale of property, plant and equipment

in TEUR

Earnings before income tax - EBT

Depreciation

Amortization of intangible assets Depreciation of right-of-use assets

Equity interest in net income of associated companies Result on sale/measurement of investments