403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Freenet Continues Successful Development In 2024 – Performance Allows For Specification And Partial Increase Of 2024 Financial Guidance
|
EQS-News: freenet AG
/ Key word(s): 9 Month figures/Quarterly / Interim Statement
Büdelsdorf, 7 November 2024 - freenet AG [ISIN DE000A0Z2ZZ5] today published its results for the 2024 nine-month period after close of trading (Xetra). All key financial figures relate exclusively to the continuing operations. The business activities of Gravis were completely discontinued at the end of June 2024. The earnings components of Gravis are reported separately as discontinued operations (including adjustment of the prior year's figures). Group: Successful nine months lead to adjustment of guidance for revenues, EBITDA and free cash flow freenet can look back on a successful nine-month period in 2024. The number of subscribers at freenet (Mobile Communications + TV) reached almost 10 million. This figure rose by 468.3 thousand to 9.961 million (year-end 2023: 9.493 million), mainly driven by the record growth of waipu (461.2 thousand net new subscribers). Due to stable ARPUs (average revenue per user) in the Mobile Communications and TV business, revenues increased by 2.9 % to EUR 1,816 million (prior year: EUR 1,765 million). Table 1: Updated 2024 guidance
The guidance for the other financial and non-financial performance indicators remains unchanged. Table 2: Key figures of freenet AG
Mobile Communications: Satisfactory customer growth and stable ARPU The Mobile Communications segment recorded strong customer growth in the 3rd quarter of the current year. This was in particular due to the launch and restructuring of individual tariff portfolios since the end of the first half of the year. Total customer growth in the nine-month period was satisfactory at 79.3 thousand to 7.498 million (year-end 2023: 7.418 million). Moderate growth is still expected for the year as a whole. As expected, postpaid ARPU remained stable year-on-year at EUR 17.9 (prior year: EUR 18.0). Service revenues increased slightly by 0.8 % to EUR 1,286.2 million (prior year: EUR 1,276.3 million) and accounted for just under 85 % of segment revenues. Overall, revenues in the Mobile Communications segment rose to EUR 1,522.0 million (prior year: EUR 1,514.5 million). Table 3: Key figures Mobile Communications segment
EBITDA in the Mobile Communications segment continued to increase during the year and reached EUR 317.7 million, up 3.7% compared to the previous year (EUR 306.3 million). TV and Media: waipu with strong customer and revenue growth The increased investment in raising waipu's brand awareness had a visible positive effect. The TV and Media segment recorded a significant increase in TV subscribers to over 2.3 million customers in the nine-month period of 2024 (year-end 2023: 2.0 million). waipu grew by a total of 461.2 thousand customers in the nine-month period (prior year: 264.9 thousand). The increase in the waipu subscriber base to 1.830 million (year-end 2023: 1.369 million) more than compensated for the expected decline in freenet TV subscribers by 70.1 thousand to 513.7 thousand (year-end 2023: 583.8 thousand). ARPU for both TV products remained stable compared to the prior year, despite exceptionally intense competition on the German TV market. Table 4: Key figures TV and Media segment
The segment revenues increased by 15.6 % to EUR 291.0 million for the nine-month period of 2024 (prior year: EUR 251.8 million). The majority thereof was attributable to waipu, whose revenues grew by more than 50 % compared to the prior-year period. As expected, the segment EBITDA of EUR 78.4 million for the nine-month period was below the prior year's figure (EUR 85.9 million) due to the increased investments in waipu's brand awareness. Continued investment in the dynamically growing IPTV business is also planned for 4th quarter 2024 in order to make the best possible use of the customer acquisition potential in this area. Conference Call The conference call on the results for the 2024 nine-month period will take place on Friday, 8 November 2024 at 10:00 a.m. (CET). In addition to the results of the nine-month period, freenet's longer-term financial ambition until 2028 will also be presented. All interested parties can listen to the conference call via webcast (listen-only mode). A recording will be made available afterwards. Further documents for publication fn/downloadsir 1 Total of Postpaid, freenet FUNK, freenet FLEX, waipu subscribers and freenet TV subscribers (RGU) 2 freenet FUNK and freenet FLEX customers Note In the interests of clear and transparent presentation, alternative performance measures (APMs) are used in the financial statements of freenet AG and in ad hoc disclosures in accordance with Art. 17 MAR in addition to the disclosures defined by the International Financial Reporting Standards (IFRS). Information on the use, definition and calculation of APMs can be found in the 2023 Annual report . Contact freenet AG Investor Relations & ESG Reporting Phone: +49 (0) 40/ 513 06 778 Mail: ... Internet: fn/investors freenet AG Public Relations & Corporate Communications Phone: +49 (0) 40 / 513 06 777 E-mail: ...
07.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Comments
No comment