23.03.2017
freenet AG DE000A0Z2ZZ5
DGAP-News: freenet AG confirms preliminary figures for financial year 2016
DGAP-News: freenet AG / Key word(s): Final Results
freenet AG confirms preliminary figures for financial year 2016
23.03.2017 / 08:46
The issuer is solely responsible for the content of this announcement.
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freenet AG confirms preliminary figures for financial year 2016
- 7.8 percent increase in Group revenue to 3.362 billion euros (previous
year: 3.118 billion euros)
- Significant growth of 18.5 percent in Group EBITDA1 to 438.8 million euros
(previous year: 370.2 million euros)
- 20.0 percent increase in free cash flow2 to 341.5 million euros (previous
year: 284.5 million euros)
- Dividend proposal of 1.60 euros (previous year: 1.55 euros) for financial
year 2016
- Details concerning TV business and guidance to be disclosed on the capital
market day in Cologne scheduled for 12 April 2017
Büdelsdorf, 23 March 2017 - Following verification of the annual financial
statements of freenet AG [ISIN DE000A0Z2ZZ5] as at 31 December 2016 and
approval of the consolidated financial statements as at 31 December 2016 by
the Supervisory Board, the Executive Board has confirmed the preliminary
figures already announced on 02 March 2017 in full.
According to this, the company reached respectively exceeded all targets
communicated for financial year 2016. Group revenue increased by 7.8 percent
of 3.362 billion euros (previous year: 3.118 billion euros). Based on a
solid Mobile Communications core business the rise is essentially due to the
revenue contribution of the newly created TV and Media segment amounting to
218.9 million euros, as well as increased revenue from the sale of hardware
and high-value digital lifestyle products. The Group EBITDA increased
significantly, by 18.5 percent to 438.8 million euros (previous year: 370.2
million euros). Of this amount, 28.0 million euros came from the TV and
Media segment and 36.5 million euros from the equity interest of the freenet
AG in the Sunrise Communications Group AG. The gross profit increased by
13.7 percent to 898.7 million euros (previous year: 790.4 million euros).
After accounting for the interest result in the amount of -54.9 million
euros (previous year: -44.1 million euros) and deducting the income tax
charges in the amount of 27.5 million euros (previous year: 33.2 million
euros), the company achieved a Group result of 216.4 million euros,
equivalent to earnings per share of 1.78 euros (previous year: 1.73 euros).
Net financial debt3 per 31 December 2016 increased to 725.8 million euros
(previous year: 369.2 million euros). This resulted in a debt ratio4 of 1.7
(previous year: 1.0) on the balance sheet date, which is within the
strategic bandwidth of 1.0 to 2.5, as it was also in the previous year.
The free cash flow in the reporting period was 341.5 million euros (previous
year: 284.5 million euros), corresponding to a 20.0 percent increase. The
projected amount of 300.0 million euros was therefore exceeded, even after
taking out the dividend payment in the amount of 30.1 million euros received
from the Sunrise Communications Group AG.
The Executive Board and the Supervisory Board resolved to propose a dividend
of 1.60 euros per dividend-bearing no par-value share for financial year
2016 to the annual general meeting that will take place on 1 June 2017 in
Hamburg. This corresponds to a pay-out ratio of approximately 60 percent of
the free cash flow generated in financial year 2016. In this context the
Management confirms its existing dividend policy, which provides for a
dividend distribution to its shareholders of 50 to 75 percent of the free
cash flow generated for the year.
On 12 April 2017 a capital market day for analysts and investors will take
place in Cologne, Germany, where the Executive Board will present figures
and details concerning the TV business after the official start of DVB-T2
and communicate the guidance for financial year 2017.
The complete annual report 2016 can be downloaded at
www.freenet-group.de/investor.
1) Group result before interest, taxes on income, depreciation and
impairment write-downs, including shares of associates accounted for using
the equity method, excluding depreciation and deferred taxes from the
subsequent accounting regarding shadow purchase price allocation (element of
the result of associates accounted for using the equity method).
2) Free cash flow (FCF) is defined as cash flow from operating activities
minus investments in property, plant and equipment and intangible assets,
plus proceeds from the disposal of property, plant and equipment and
intangible assets.
3) Financial debt less liquid funds, less the share of market value of
Sunrise Communications Group AG (Source stock data: Bloomberg)
4) Ratio of the financial debt less liquid funds, less the share of market
value of Sunrise Communications Group AG (Source stock data: Bloomberg) to
the Group EBITDA obtained in the last 12 months.
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23.03.2017 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
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Language: English
Company: freenet AG
Hollerstraße 126
24782 Büdelsdorf
Germany
Phone: +49 (0)40 51306-778
Fax: +49 (0)40 51306-970
E-mail: [email protected]
Internet: www.freenet-group.de
ISIN: DE000A0Z2ZZ5, DE000A1KQXU0
WKN: A0Z2ZZ , A1KQXU
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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557167 23.03.2017
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