07.11.2018 - 18:00 Uhr

EBITDA and free cash flow continue to be stable

  • Number of valuable postpaid customers has increased to 6.87 million
  • EBITDA excl. Sunrise and proceeds of VHF sale has increased to 302.2 million euros in the first three quarters (2017: 299.9 million euros)
  • At 87,7 million euros, free cash flow is in line with forecast for the third quarter of 2018

freenet AG has today announced the results for the third quarter of 2018.

Revenue excl. IFRS 15 effects would increase by 22.5 million euros to 902.7 million euros in the third quarter of 2018. Taking account of IFRS 15 revenue to be disclosed amounted to 717.0 million euros in this period.

Compared with the first nine months, EBITDA excl. Sunrise and the revenue from a further sale of the VHF infrastructure increased by approximately 1 per cent to 302.2 million euros. In the third quarter, EBITDA excl. Sunrise amounted to 123.2 million euros, an increase of 13.0 million euros compared with the previous year quarter. This increase is due to a one-off positive effect of 18.4 million euros resulting from a further sale of the VHF infrastructure.

The freenet Group has been able to partially expand its market position in a competitive mobile communication market. This is reflected in the development of the strategically most important customer group (postpaid customers), which has increased by 3.4 per cent yoy or 223,000 customers to 6.87 million customers.

EXARING AG reached a milestone in the TV and Media segment in the third quarter of 2018. The company registered its one millionth customer for the IPTV produkt waipu.tv in mid-September. Accordingly, this figure at waipu.tv is approximately 667,000 persons higher compared with the same time in 2017. In addition, of the more than one million registered users, more than 202,000 have already decided to sign up for a subscription version - this represents growth of 16.1 percent in the number of subscribers compared with the previous quarter.

freenet TV has also reported rising numbers of customers since the introduction of its TV products (DVB-T2 HD and Sat HD). The number amounted to 901,500 customers, approximately 21 per cent higher than the corresponding previous year quarter.

On the basis of the constant development in the company's core business of Mobile Communications,  free cash flow is stable and, at 87,7 million euros, is slightly higher than the company's own expectations for the third quarter.

The forecast for the current financial year is unchanged. However, as a result of the exceptional factors relating to the VHF sale, the company is now expecting EBITDA excl. Sunrise to be at the upper end of the forecast range of between 410 and 430 million euros.

The quarterly report as of 30 September 2018 is available under Investor Relations at https://www.freenet-group.de/investor-relations/publikationen/index.html.


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