1&1 publishes preliminary results for the H1-2024 and updated forecast 2024
|
EQS-Ad-hoc: 1&1 AG / Key word(s): Preliminary Results/Change in Forecast 1&1 publishes preliminary results for the H1-2024 and updated forecast 2024 Montabaur, 2 August 2024 – 1&1 AG (ISIN DE 0005545503was able to increase the number of its customer contracts in first half of 2024 in comparison with 31 December 2023 by 90,000 to 16.35 million. The growth was based on 110,000 new mobile Internet contracts won, whose base stood at 12.36 million at the end of the first half of 2024. Broadband lines declined slightly by 20,000 to 3.99 million. The high-margin service revenue rose by 3.8 percent to €1,644.9 million (H1 2023: €1,584.6 million) whilst low-margin hardware revenue declined to €371.0 million (H1 2023: 408.5 million) in the first half of 2024. Overall, revenue in the first half 2024 rose by 1.1 percent to €2,015.9 million (H1 2023: €1,993.1 million). EBITDA in the Access operating segment increased in H1 2024 by 11.4 percent to €437.6 million (H1 2023: €392.8 million). Start-up costs for the 1&1 mobile network increased to -€111.0 million (H1 2023: -€40.8 million). Of this amount, €14.3 million are out-of-period expenses from subsequent invoices for additional services for network expansion in 2022 and 2023. As a result of these increased start-up costs, total EBITDA declined by -7.2 percent to €326.6 million (H1 2023: €352.0) or -3.2 % to €340.9 million, excluding out-of-period expenses. The investment volume (cash capex) amounted due to a phasing effects in H1 to €34.0 million (H1 2023: €81.0 million). The low investment volume is due to phasing effects during the year. As a result of a temporary outage of the 1&1 mobile network at the end of May 2024, there was an increase in cancellations, which mainly took effect in June and July. As a result, contract growth and the associated growth in service revenue and EBITDA in the first half of 2024 were lower than expected. Growth is also expected to be lower than planned in the third quarter. Updated outlook 2024 The company is adjusting its forecast and now expects an increase in service revenue of approx. 3 percent to around €3.33 billion in the 2024 financial year (previously expected: approx. 4 percent to approx. €3.37 billion after €3.243 billion in 2023). EBITDA in operative Access segment is expected to increase by approx. 9 percent to approx. €860 million (expected so far approx. 12 percent to €880 million, previous year €786.2 million). Start-up costs for the 1&1 mobile network are expected to amount to approx. -€174 million (previously expected: approx. -€160 million after -€132.4 million in 2023) due to €14.3 million in out-of-period expenses. Overall, EBITDA in 2024 is expected to be around €686 million, or €700 million excluding out-of-period expenses (previously expected: around €720 million after €653.8 million in 2023). The company now anticipates an investment volume (cash capex) of around €460 million (previously expected: approx. €380 million after €295.6 million in 2023). The background to this is the build-up of the company's own inventory of network components, which were previously stockpiled by expansion partners. Preliminary key figures according to IFRS - comparison H1 2023 vs. H1 2024
The quarterly statement will be made available on the Company’s home page on 8 August 2024. https://www.1und1.ag/investor-relations-en#meldungen-berichte-praesentationen
Montabaur, 2 August 2024 1&1 AG The Management Board
About 1&1 AG 1&1 AG is a listed telecommunications provider domiciled in Montabaur. The Company is a member of the United Internet AG corporate group. 1&1 is the first network operator in Europe to operate a fully virtualised mobile network based on innovative Open RAN technology. In addition to a comprehensive mobile communications portfolio, broadband connections are offered which are mostly based on 1&1 Versatel's Germany-wide fibre-optic transport network and on regional networks of city carriers and Deutsche Telekom. While the 1&1 brand addresses value and premium segments, the Group's discount brands appeal to price-conscious target groups.
Note: Financial performance indicators such as EBITDA, EBITDA margin, EBIT, EBIT margin or free cash flow are used in addition to the disclosures required by the International Financial Reporting Standards (IFRS) in the annual and interim financial statements of 1&1 AG and in ad hoc reports pursuant to Art. 17 MAR to ensure a clear and transparent presentation of 1&1 AG business development. Information about the use, definition and calculation of these performance indicators is provided on pages 59, 60 of the Annual Report 2023 of 1&1 AG.
Contact: Oliver Keil Head of Investor Relations Mail: ir@1und1.de End of Inside Information
02-Aug-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | 1&1 AG |
| Elgendorfer Straße 57 | |
| 56410 Montabaur | |
| Germany | |
| Phone: | +49 (0) 6181 - 412 218 |
| Fax: | +49 (0) 6181 - 412 183 |
| E-mail: | ir@1und1.de |
| Internet: | www.1und1.AG |
| ISIN: | DE0005545503 |
| WKN: | 554550 |
| Indices: | SDAX, TecDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1960383 |
| End of Announcement | EQS News Service |
|
|
1960383 02-Aug-2024 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.