BÜDELSDORF (dpa-AFX) - The mobile communications and TV provider Freenet earned less in the first quarter due to higher expenditure on advertising in its current business. Earnings before interest, taxes, depreciation and amortization fell by three percent to 124.2 million euros, as the company announced in Büdelsdorf on Wednesday evening. The management around CEO Christoph Vilanek attributed the decline to investments in the brand awareness of the TV streaming service waipu.tv. This year, the so-called ancillary cost privilege for the cable connection will be abolished, so many cable TV customers are likely to look for new providers - Freenet wants to benefit from this. On average, analysts had expected an even greater decline in operating earnings.

The North German company's turnover remained stable at plus 0.2 percent to 638.9 million euros. Below the line, the profit attributable to the company's own shareholders climbed from 18 million euros to 65 million euros. A year ago, depreciation and amortization had been a burden, and this time Freenet was also able to offset a tax credit. Group CEO Vilanek confirmed the forecast for the year.