The price adjustment at freenet TV and profitability-focused customer growth at waipu.tv caused revenue in this segment to rise by +10.3% year-on-year to 138.8 million euros (H1/20: 125.9 million euros). This includes a revenue effect of around 1.5 million euros from an EXARING AG (waipu.tv) media barter transaction recognised in the first quarter of 2021 that does not affect EBITDA. With an EBITDA margin of 33.8%, 4.9 percentage points higher than the previous year, segment EBITDA increased by 10.5 million euros to 47.0 million euros. This represents growth of +28.8% compared to the first six months of 2020 (H1/20: 36.5 million euros). This sharp increase was due to price/volume effects, a general improvement in profitability, and continuing efficiency measures (particularly at freenet TV). waipu.tv remains the main driver and was responsible for half of the increase in EBITDA (+5.4 million euros compared to H1/20).

Guidance raised for the 2021 full year

Based on the highly positive performance of the TV and Media segment, considerable stability in the Mobile Communications business and the still positive outlook, the Executive Board is lifting its guidance for the EBITDA and free cash flow financial performance indicators for the 2021 full year. EBITDA of between 430 and 445 million euros is now expected (previously: 415 to 435 million euros), while the Executive Board anticipates free cash flow of between 215 and 230 million euros (previously: 200 to 220 million euros). This represents an increase of 12.5 million euros in each case compared to the midpoint of the previous guidance (EBITDA: approx. +3.0%; free cash flow: approx. +6.0%).

The forecasts for the full year 2021 remain unchanged for all other financial and non-financial performance indicators.

Conference Call

freenet AG will host a conference call for investors and analysts at 10:00 CEST on 12 August 2021. All those interested in attending can follow the conference call via webcast at LINK.

A recording will be made available on the website (LINK) following the event.

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^1 H1/20 free cash flow adjusted for dividend from Sunrise (Q2/20: 46.0 million euros) and corresponding interest payments on the syndicated bank loan (H1/20: approx. 5.6 million euros). ^2 Total of postpaid customers, freenet FUNK customers, freenet Flex customers, freenet TV subscribers (RGU) and waipu.tv subscribers. ^3 freenet FUNK/freenet Flex customers.

Note In the interest of clear and transparent presentation, alternative performance measures (APMs) are used in the financial statements of the freenet Group and in ad hoc disclosures pursuant to Art. 17 MAR, in addition to the disclosures defined by the International Financial Reporting Standards (IFRSs). Information on the use, definition and calculation of APMs can be found in the freenet Group 2020 Annual Report from page 46 onwards.

****************************** Contact: freenet Group Investor Relations & ESG Tel.: +49 (0)40/ 513 06 778 Email: ir@freenet.ag https://www.freenet-group.de/en -----------------------------------------------------------------------------------------------------------------------

2021-08-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de ----------------------------------------------------------------------------------------------------------------------- 


Language:     English 
Company:      freenet AG 
              Hollerstrasse 126 
              24782 Buedelsdorf 
              Germany 
Phone:        +49 (0)40 51306-778 
Fax:          +49 (0)40 51306-970 
E-mail:       ir@freenet.ag 
Internet:     www.freenet-group.de 
ISIN:         DE000A0Z2ZZ5, DE000A1KQXU0 
WKN:          A0Z2ZZ , A1KQXU 
Indices:      MDAX, TecDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1225760 
 
End of News   DGAP News Service 
-------------

1225760 2021-08-11

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(END) Dow Jones Newswires

August 11, 2021 12:30 ET (16:30 GMT)