1&1 Unveils H1-2024 Results & Boosts 2024 Forecast

• 1&1 AG increased customer contracts by 90,000 to 16.35 million in H1 2024, with 110,000 new mobile Internet contracts and a slight decline in broadband lines by 20,000.
• High-margin service revenue rose by 3.8% to €1,644.9 million, while low-margin hardware revenue declined to €371.0 million in H1 2024. Overall revenue increased by 1.1% to €2,015.9 million.
• EBITDA in the Access segment increased by 11.4% to €437.6 million, but total EBITDA declined by 7.2% to €326.6 million due to increased start-up costs for the 1&1 mobile network.
• Investment volume (cash capex) was €34.0 million in H1 2024, down from €81.0 million in H1 2023, due to phasing effects.
• A temporary outage of the 1&1 mobile network in May 2024 led to increased cancellations, affecting contract growth, service revenue, and EBITDA.
• The updated 2024 forecast expects service revenue to increase by approximately 3% to €3.33 billion, with overall EBITDA around €686 million, or €700 million excluding out-of-period expenses. Investment volume is anticipated to be around €460 million.

The next important date, Publication of the semi-annual financial report, at 1&1 is on 08.08.2024.

The price of 1&1 at the time of the news was 14,560EUR and was up +1,11 % compared with the previous day.
15 minutes after the article was published, the price was 14,350EUR this corresponds to a minus of -1,44 % since publication.
At this time, the index SDAX was at 13.704,02PKT (-2,21 %).

1&1

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ISIN:DE0005545503WKN:554550

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