EQS-Adhoc: United Internet with preliminary results for the first half of 2024 and updated forecast for 2024
EQS-Ad-hoc: United Internet AG / Key word(s): Change in Forecast/Preliminary Results Montabaur, August 2, 2024. United Internet AG continued to invest in new customer contracts and the expansion of existing customer relationships and thus in sustainable growth in the first half of 2024. Overall, the number of fee-based customer contracts increased by 330,000 to 28.78 million contracts. This included 90,000 new contracts in the “Consumer Access” segment and 130,000 contracts in the “Business Applications” segment. A further 110,000 contracts were gained in the “Consumer Applications” segment. According to preliminary figures, sales in the first half of 2024 rose by 2.8% from EUR 3,014.2 million in the same period of the previous year to EUR 3,099.9 million. The only moderate increase in sales was primarily due to lower hardware sales (especially smartphones) in the “Consumer Access” segment (EUR -37.4 million compared to H1 2023) and lower Aftermarket sales in the “Business Applications” segment (EUR -18.8 million compared to H1 2023). Hardware and Aftermarket sales are low-margin and only have a very minor impact on earnings. EBITDA amounted to EUR 662.3 million in the first half of 2024 (previous year: EUR 668.7 million). This includes increased expenses for the expansion of the 1&1 mobile network amounting to EUR -111.0 million (previous year: EUR -40.8 million), thereof EUR 14.3 million in out-of-period expenses for recalculations for the network expansion for 2022 and 2023. In addition to the costs of the network expansion and expenses relating to other periods, EBIT was also impacted by increased depreciation and amortization of EUR 257.9 million (previous year: EUR -204.7 million), particularly on investments in the expansion of the fiber-optic network at 1&1 Versatel and the 1&1 mobile network. Accordingly, it amounted to EUR 347.4 million (EBIT previous year: EUR 407.1 million). Cash capex in the first half of 2024 amounted to EUR 284.4 million (previous year: EUR 301.3 million). Forecast 2024 United Internet expects sales of approx. EUR 6.4 billion in fiscal year 2024 (previously expected: approx. EUR 6.5 billion; 2023: EUR 6.213 billion). EBITDA is expected to amount to approx. EUR 1.38 billion, including EUR 14.3 million in out-of-period expenses, or approx. EUR 1.39 billion excluding out-of-period expenses (previously expected: approx. EUR 1.42 billion; 2023: EUR 1.30 billion). Cash capex is expected to be 15 – 25% above the previous year (previously expected: 10 – 20% above previous year; 2023: EUR 756 million). This is due to the build-up of the company's own inventory of network components, which were previously stockpiled by expansion partners. Reasons for the forecast adjustment are primarily the after-effects of a temporary outage of the 1&1 mobile network at the end of May as well as additional out-of-period expenses for recalculations for the network expansion for 2022 and 2023. As a result of the network outage, there was an increase in contract terminations, which mainly took effect in June and July. As a result, contract growth in 2024 will be lower than expected, which will be accompanied by lower growth rates in service sales and EBITDA. In addition, hardware sales in the “Consumer Access” segment and – as already announced by IONOS – aftermarket sales in the “Business Applications” segment will be lower than initially planned. Contact United Internet AG
Note In the interests of clear and transparent reporting, the annual financial statements and interim statements of United Internet AG, as well as its ad-hoc announcements pursuant to Art. 17 MAR, contain additional financial performance indicators to those required under International Financial Reporting Standards (IFRS), such as EBITDA, EBITDA margin, EBIT, EBIT margin and free cash flow. Information on the use, definition and calculation of these performance measures is provided in the Annual Report 2023 of United Internet AG on page 58. 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: | United Internet AG |
Elgendorfer Straße 57 | |
56410 Montabaur | |
Germany | |
Phone: | +49 (0)2602 / 96 - 1100 |
Fax: | +49 (0)2602 / 96 - 1013 |
E-mail: | info@united-internet.de |
Internet: | www.united-internet.de |
ISIN: | DE0005089031 |
WKN: | 508903 |
Indices: | MDAX, TecDAX |
Listed: | Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1960375 |
End of Announcement | EQS News Service |
|
1960375 02-Aug-2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
The most important financial data at a glance | ||||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
Sales1 | 5.130,80 | 5.194,09 | 5.367,25 | 5.646,18 | 5.915,06 | 6.213,22 | 6.350,00 | |
EBITDA1,2 | 1.201,32 | 1.265,70 | 1.048,90 | 1.303,74 | 1.262,53 | 1.178,02 | 1.380,00 | |
EBITDA-Margin3 | 23,41 | 24,37 | 19,54 | 23,09 | 21,34 | 18,96 | 21,73 | |
EBIT1,4 | 811,01 | 811,09 | 574,86 | 829,86 | 781,41 | 753,96 | 0,00 | |
EBIT-Margin5 | 15,81 | 15,62 | 10,71 | 14,70 | 13,21 | 12,14 | 0,00 | |
Net Profit (Loss)1 | 312,09 | 538,96 | 368,76 | 523,15 | 464,74 | 362,24 | 0,00 | |
Net-Margin6 | 6,08 | 10,38 | 6,87 | 9,27 | 7,86 | 5,83 | 0,00 | |
Cashflow1,7 | 889,53 | 935,03 | 954,10 | 987,79 | 991,82 | 1.018,03 | 0,00 | |
Earnings per share8 | 0,94 | 2,13 | 1,54 | 2,22 | 1,96 | 1,33 | 0,52 | |
Dividend per share8 | 0,05 | 0,50 | 0,50 | 0,50 | 0,50 | 0,50 | 0,50 |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: PricewaterhouseCoopers
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
INVESTOR-INFORMATION | ||||||
©boersengefluester.de | ||||||
United Internet | ||||||
WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
508903 | DE0005089031 | AG | 2.910,72 Mio € | 23.03.1998 | Kaufen | 9F29CRP6+6W |
PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
9,59 | 23,68 | 0,41 | 8,59 | 0,60 | 2,86 | 0,47 |
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
0,50 | 0,50 | 0,50 | 3,30% |
Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
15.05.2025 | 12.05.2025 | 07.08.2025 | 12.11.2024 | 27.03.2025 |
Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
-13,19% | -22,89% | -34,20% | -33,86% | +1.386,27% |
Founded in 2013 by Gereon Kruse, the financial portal boersengefluester.de is all about German shares - with a clear focus on second-line stocks. In addition to traditional editorial articles, the site stands out in particular thanks to a large number of self-developed analysis tools. All tools are based on a completely self-maintained database for more than 650 shares. As a result, boersengefluester.de produces Germany's largest profit and dividend forecast.