United Internet falls as 2022 EBITDA, 2023 outlook disappoint

United Internet AG

30/03/2023 08:36

** Shares in United Internet  UTDI.DE  fall 4% after the
German telecommunications provider missed FY core profit
estimates and gave 2023 outlook below expectations
    ** United Internet posts core profit of 1.27 billion euros
($1.38 billion) for 2022, 3% below consensus according to Credit
Suisse
    ** The company targets 2023 EBITDA on par with last year
    ** "Overall a 2023 EBITDA guidance miss is a miss and we see
these results as negative at the margin, although the mix of the
individual assets varies widely," Credit Suisse analysts say
    ** The shares of United Internet hit the bottom of Germany's
mid-cap index  .MDAXI  and are among the worst performers on
pan-European STOXX 600  .STOXX 

($1 = 0.9231 euros)

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))