1&1 rises on positive 2024 outlook

1&1 AG

20/12/2023 08:46

** Shares in 1&1 AG  1U1.DE  jump 6.3%, heading for their
best day in over five months, after the German telecoms firm on
Tuesday posted a better-than-expected 2024 outlook
    ** The company sees an increase in service revenue of around
4%, which is above the figure of 3.23 billion euros ($3.54
billion) expected for 2023, as it forecasts 2024 EBITDA to grow
around 10%, compared to 655 million euros expected for this year
    ** "Very solid forecasts should help shares to restart a
positive trend," a local trader says 
    ** 1&1 will also continue to invest in the expansion of its
mobile communications network in 2024, according to the
company's statement
    ** The stock tops the Germany's small-cap index  .SDAXI 


($1 = 0.9117 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))