DGAP-Adhoc 1&1 Drillisch AG: Substantial price increase from July 2020 onwards for the use of Telefónica's network capacity. As a precaution EBITDA forecast 2020 reduced to approx. EUR 600 million.
DGAP-Ad-hoc: 1&1 Drillisch Aktiengesellschaft / Key word(s): Forecast/Change in Forecast
1&1 Drillisch AG: Substantial price increase from July 2020 onwards for the use of Telefónica's network capacity. As a precaution EBITDA forecast 2020 reduced to approx. EUR 600 million.
Maintal, 19 September 2020. The first five-year prolongation phase of the existing MBA MVNO agreement between Drillisch Online GmbH, a wholly-owned subsidiary of 1&1 Drillisch AG, and Telefónica Germany GmbH & Co. OHG (″Telefónica") started on 1 July 2020. The MBA MVNO agreement serves to implement the commitments of Telefónica under the merger clearance decision of the EU Commission regarding the merger with E-Plus. The parties are negotiating parallel to the for some time ongoing negotiations to conclude a national roaming agreement also the prices under the MBA MVNO as from July 2020. Despite the ongoing negotiations, yesterday, Telefónica has sent 1&1 Drillisch MBA MVNO-invoices for the advance service prices for July and August 2020 with the advance service prices that Telefónica considers to be applicable without making this subject to agreement in the negotiations.
Whereas, so far, the voice prices per minute and data prices per GByte were reduced steadily in the last five years based on the MBA MVNO Agreement, Telefónica now assumes consistently high voice prices per minute and data prices per GByte from July 2020 and for the following years. They shall be equivalent to the average prices in the period between 1 July 2019 and 30 June 2020 and no longer be reduced in the future. Furthermore, certain, so far free of charge capacities for voice and SMS shall no longer exist. This, compared to the previous months, resulting price increase as from July 2020 and the future discontinuation of the annual price degression will result in annually substantially increasing additional costs, in particular due to the expected significant annual data growth. As a precautionary measure, 1&1 Drillisch therefore reduces its EBITDA forecast for 2020 und now expects an EBITDA of approx. EUR 600 million in this year instead of approx. EUR 683.5 million (the EBITDA of the previous year). Moreover, also in the next years, there will be high decline in earnings should the prices requested by Telefónica continue to be applied permanently.
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