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Deutsche Telekom 'lost billions' in 2012
Published: 28 Feb 13 08:00 CET | Print version
Online: http://www.thelocal.de/money/20130228-48243.html
German telecommunications giant Deutsche Telekom said on Thursday that multi-billion-euro writedowns in the United States had pushed it into a net loss of €5.255 billion in 2012.
- Telekom cuts 1,200 jobs in reshuffle - Business & Money (17 Jan 13)
- Deutsche Telekom CEO to step down next year - Business & Money (20 Dec 12)
- Telekom: 100,000 WLAN connections unsafe - Science & Technology (26 Apr 12)
The loss in the US - announced last October - has prompted the company to push for a merger of T-Mobile US with the mobile phone operator MetroPCS.
The multi-national company, which employs 230,000 workers worldwide, said massive losses in 2012 would not effect its projected business outlook for this year, which predicts an end-of-year operating profit of €17.4 billion.
In January, the Handelsblatt newspaper reported the Bonn-based telecommunications giant was planning to cut jobs 1,200 jobs in Germany by June in a bid to cut overhead costs by ten percent and save €100 million a year.
Employees would be cut from its marketing, management and administration departments, inside sources told the paper at the time, in a move the company described as "reorganization" rather than a downscaling operation.
AFP/The Local/jlb
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Your comments about this article:
"We recorded a net loss of around €5.3 billion, primarily due to the recognition of an impairment loss"
By definition "An impairment write-down reduces an overstated book value to fair value."
Book value is kind of "the cost of an asset minus the accumulated depreciation."
So you state it one way, then depreciate it, then recognize that the market value depreciates faster than you have done it , then ...
Of course ,if you are a regular person, who only has income from salary, you can not depreciate anything in order to avoid taxes :) Technically, everything that you bought from a store, depreciated or completely lost it's value , but you still pay tax on the whole salary, not the current value of the hosehold goods that you have purchased
But of course, I am not a financisit , so that might not be true either