Brief: Freenet 9M Revenues Increase 2.9% To Eur 1.82 Bln

freenet AG

07/11/2024 17:11

Nov 7 (Reuters) - FREENET AG  FNTGn.DE :
    * CONTINUES SUCCESSFUL DEVELOPMENT IN 2024 – PERFORMANCE
ALLOWS
FOR SPECIFICATION AND PARTIAL INCREASE OF 2024 FINANCIAL
GUIDANCE
    * 9M REVENUES INCREASE BY 2.9% TO EUR 1,816 MILLION IN
NINE-MONTH
PERIOD OF 2024 (PRIOR YEAR: EUR 1,765 MILLION)
    * 9M AT EUR 380.0 MILLION, EBITDA AT END OF SEPTEMBER WAS
SLIGHTLY
HIGHER THAN IN PRIOR YEAR (EUR 376.8 MILLION), AS EXPECTED.
ACCORDINGLY, EBITDA GUIDANCE CAN BE NARROWED TO EUR 500 - 515
MILLION
    * 9M NUMBER OF TV SUBSCRIBERS AT FREENET (MOBILE
COMMUNICATIONS +
TV) INCREASES TO JUST UNDER 10.0 MILLION (YEAR-END 2023: 9.5
MILLION)
    * 9M FREE CASH FLOW EUR 219.9 MILLION
    * BUSINESS ACTIVITIES OF GRAVIS WERE COMPLETELY DISCONTINUED
AT
END OF JUNE 2024
    * GUIDANCE FOR FREE CASH FLOW INCREASED TO EUR 270 - 285
MILLION
    * EXECUTIVE BOARD NOW EXPECTS MODERATE GROWTH (PRIORLY:
STABLE
PERFORMANCE) IN REVENUES IN 2024 FINANCIAL YEAR
    * GUIDANCE FOR OTHER FINANCIAL AND NON-FINANCIAL PERFORMANCE
INDICATORS REMAINS UNCHANGED
    * GUIDANCE FY: EBITDA OF EUR 500 TO 515 MILLION FOR 2024
FINANCIAL
YEAR (PRIORLY: EUR 495 TO 515 MILLION)
    * 9M TV AND MEDIA SEGMENT REVENUES INCREASED BY 15.6 % TO
EUR
291.0 MILLION

Source text:  ID:nEQcbdrtqa 
Further company coverage:  FNTGn.DE 

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