21.03.2018
freenet AG DE000A0Z2ZZ5
DGAP-News: freenet AG: freenet AG confirms preliminary figures for financial year 2017
DGAP-News: freenet AG / Key word(s): Final Results
freenet AG: freenet AG confirms preliminary figures for financial year 2017
21.03.2018 / 18:59
The issuer is solely responsible for the content of this announcement.
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freenet AG confirms preliminary figures for financial year 2017
- Total revenue increases by 4.3 per cent to 3.507 billion euros (previous
year: 3.362 billion euros)
- Strong increase of 23.3 per cent in EBITDA1 to 541.2 million euros
(previous year: 438.8 million euros)
- Free cash flow2 increases slightly to 342.8 million euros (previous year:
341.5 million euros)
- Continuation of dividend policy based on shareholder value, with a
proposed dividend increase to 1.65 euros for 2017
Büdelsdorf, 21 March 2018 - Following verification of the annual financial
statements of freenet AG [ISIN DE000A0Z2ZZ5] as at 31 December 2017 and
approval of the consolidated financial statements as at 31 December 2017 by
the Supervisory Board, the Executive Board has confirmed the preliminary
figures already announced on 01 March 2018 in full.
With the publication of the financial report 2017 freenet AG confirms the
preliminary figures for the financial year 2017 published on 01 March 2018
and presents its successful business development in which the targets for
2017 have been met or even exceeded. At 3.507 billion euros, total revenue
was 4.3 per cent higher than the corresponding previous year figure (3.362
billion euros). The growth is mainly attributable to the revenue of 294.8
million euros generated by the excellent performance of the TV and Media
segment (an increase of 34.7 per cent compared with the previous year figure
of 218.9 million euros) as well as higher revenue generated by the sale of
hardware and digital lifestyle products. EBITDA increased strongly by 102.4
million euros to 541.2 million euros especially due to the one-off effect of
the "Sunrise Tower Deal", and was thus considerably higher than the previous
year figure of 438.8 million euros. EBITDA exclusive Sunrise amounted to
408.0 million euros, representing an increase of 5.7 million euros compared
with the previous year. The gross profit, which increased by 5.7 per cent to
949.8 million euros (previous year: 898.7 million euros) made a major
contribution in this respect. There was also a positive development in group
result, which in the reporting year increased by 27.3 per cent compared with
the previous year, to 275.6 million euros (previous year: 216.4 million
euros). At 2.24 euros, earnings per share (diluted and undiluted) are also
higher than the corresponding previous year figure (1.78 euros per share
diluted and undiluted).
Net debt3 declined considerably, falling by 29.7 per cent from 725.8 million
euros as of 31 December 2016 to the current figure of 510.0 million euros at
the end of the financial year 2017. The debt ratio4 declined accordingly to
0.9 (previous year: 1.7) - which was even slightly lower than the target
range (1.0-2.5). The decline in net debt and debt ratio is primarily
attributable to the increase in the Sunrise share price as well as its much
higher EBITDA contribution.
In the reporting period, the generated free cash flow was stable at 342.8
million euros (previous year: 341.5 million euros). Even if the dividend
payment of 34.4 million euros received from Sunrise is eliminated, the
forecast figure of approximately 310.0 million euros is attained.
The Executive Board and the Supervisory Board resolved to propose a dividend
of 1.65 euros per eligible share for financial year 2017 to the annual
general meeting that will take place on 17 May 2018 in Hamburg. This
corresponds to a pay-out ratio of approximately 61.6 per cent of the free
cash flow generated in financial year 2017. In this connection, the
Executive Board has confirmed its constant dividend policy which is based on
shareholder value and which provides for a dividend payment of 50 to 75 per
cent of the annual free cash flow.
The complete annual report 2017 including the audited consolidated financial
statements is available for download at www.freenet-group.de/investor.
1) Earnings before interest and taxes, including the earnings element of
companies included using the equity method (EBIT), excluding depreciation
and deferred taxes resulting from the subsequent recognition of companies
included using the equity method and including write-downs and impairments.
2) Cash flow from operating activities, minus investments in property, plant
and equipment and intangible assets, plus proceeds from the disposals of
property, plant and equipment and intangible assets.
3) Long-term and short-term financial debt, less liquid assets, less the
interest of the freenet Group in the market value of Sunrise Communications
Group AG as of the reference date (source of price data: Bloomberg).
4) Ratio between net debt and EBITDA generated in the last 12 months.
Investor Relations contact:
freenet Aktiengesellschaft
Investor Relations
Deelbögenkamp 4c
22297 Hamburg
Phone.: +49 (0)40 / 513 06 778
Fax: +49 (0)40 / 513 06 970
Email: [email protected]
www.freenet-group.de
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21.03.2018 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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