Freenet jumps to 2018 highs on raised 2024 guidance

freenet AG

08/11/2024 08:42

** Shares in German telecoms provider Freenet  FNTGn.DE 
jump 6% to 2018 highs after it raised its 2024 outlook
    ** It expects a moderate revenue growth for the year, after
forecasting a stable performance previously, driven by its TV
and media segment
    ** It also lifts the bottom of its 2024 EBITDA guidance
range, seeing it at 500-515 million euros ($538.6 million-$554.7
million) vs 495-515 million previously
    ** "Numbers should bode well for the shares," a local trader
says, adding investors' focus will be also on the conference
call where Freenet is set to announce its targets for 2028
    ** The shares are on track for their best day since March
2022 if the gains hold

($1 = 0.9284 euros)

 (Reporting by Isabel Demetz)
 ((Isabel.demetz@thomsonreuters.com))