DGAP-News

freenet Group grows EBITDA, free cash flow and subscriber numbers in successful first quarter

DGAP-News: freenet AG / Key word(s): Quarterly / Interim Statement/Quarter Results freenet Group grows EBITDA, free cash flow and subscriber numbers in successful first quarter 05.05.2021 / 18:00 The issuer is solely responsible for the content of this announcement. freenet Group grows EBITDA, free cash flow and subscriber numbers in successful first quarter

- EBITDA rose by +4.4% compared to Q1/20 due to growth in the TV business

- Free cash flow increased significantly by 9.6 million euros to 59.5 million euros in Q1/21

- Subscriber base continues to grow steadily, up +0.4% in Q1/21 to 8.6 million

- Covid-19-related decline in revenue more than compensated on the earnings side

- Executive Board confirms guidance for the 2021 full year in all dimensions
 

Büdelsdorf, 05 May 2021 - freenet AG [ISIN DE000A0Z2ZZ5] today announced its results for the first quarter of 2021.
 

Group: Sharp increase in consolidated EBITDA

In EUR millions/as indicated	Q1/21	Q1/20	Change
Revenue	619.2	648.8	-29.7
EBITDA	108.8	104.2	4.6
Free cash flow	59.5	49.9	9.6
Subscriber base1 (in '000s)	8,647.6	8,429.6	218.0

 

The challenges of the past year relating to the Covid-19 pandemic continued in the first quarter of 2021, with massive disruption to economic and social life. The strict lockdown imposed by the federal government in mid-December 2020 impacted the operating activities of all companies, including the freenet Group, for an entire quarter for the first time. Even in these circumstances, our business model - based on long-term customer relationships and flexible sales structures - proved highly resilient yet not entirely immune to the effects of the crisis.