13.08.2018
1&1 Drillisch Aktiengesellschaft DE0005545503
DGAP-News: 1&1 Drillisch AG - Success in HY1 2018
DGAP-News: 1&1 Drillisch Aktiengesellschaft / Key word(s): Half Year Results
1&1 Drillisch AG - Success in HY1 2018
13.08.2018 / 07:00
The issuer is solely responsible for the content of this announcement.
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1&1 Drillisch AG - Success in HY1 2018
- Number of customer contracts rises by 470,000 to 13.11 million
- Revenue per IFRS 15 rises by 42.5% to EUR1,819bn (pro forma +14.5%)
- EBITDA per IFRS 15 rises by 61.9% to EUR340.1m (pro forma + 20.4%)
- Revenue and profit forecast 2018 confirmed; approx. 1 million new
customers expected
Maintal, 13 August 2018 - 1&1 Drillisch AG (ISIN DE 0005545503) continued on
its course of growth in the first half of 2018. The Company was able to
increase further the number of customers, the revenues and the operating
profit figures.
During HY1 2018, 1&1 Drillisch continued to invest strongly in new customer
contracts as well as in retention and increased value of current customer
relationships to secure sustained growth in profits. The number of customer
contracts in the current product lines rose by 470,000 to 13.11 million
contracts (31/12/2017: 12.64 million) during the first six months. In the
mobile internet sector, there was a gain of 430,000 customer contracts,
raising the number of contracts to 8.73 million (31/12/2017: 8.30 million).
DSL lines increased by 40,000 to 4.38 million (31/12/2017: 4.34 million). In
comparison with the closing date of the previous year, the number of
customer contracts - including the Drillisch customers per 30/06/2017 - rose
by 990,000 (8.2%).
In comparison with the same period of the previous year, the revenue and
profit figures of HY1 2018 were impacted by the initial consolidation of
Drillisch and by positive conversion effects from the initial application in
the accounting of IFRS 15 (previous year: IAS 18). Contrary effects come
from the expected reductions in profit from contract growth and the
increased use of smartphones for new and current customers (no or only low
one-time payments by customers on conclusion of the contract and return via
higher rate prices over the term of the contract). The IFRS 15 effects on
revenue are positive (EUR153.8 million) while the IFRS 15 effects on profit
figures and the expenditures for the increased use of smartphones virtually
offset each other completely.
Specifically, reported revenue in HY1 2018 rose in comparison with HY1 2017
by 42.5% from EUR1.276 billion (previous accounting in accordance with IAS
18) to EUR1.819 billion (accounting in accordance with IFRS 15). From the
pro forma perspective (with the inclusion of Drillisch in the previous
year), revenue rose by 14.5% from EUR1.588 billion (previous accounting in
accordance with IAS 18) to EUR1.819 billion (accounting in accordance with
IFRS 15).
Disclosed earnings before interest, taxes, depreciation and amortisation
(EBITDA) rose by 61.9% from EUR210.1 million (previous accounting in
accordance with IAS 18) to EUR340.1 million (accounting in accordance with
IFRS 15). From the pro forma perspective (with the inclusion of Drillisch in
the previous year), the EBITDA rose by 20.4% from EUR282.4 million (previous
accounting in accordance with IAS 18) to EUR340.1 million (accounting in
accordance with IFRS 15). The initially positive effects from the changeover
to IFRS 15 contained in this figure totalling EUR158.3 million are offset by
additional investments (above all, from the increased use of smartphones) in
the same amount so that the two items balance each other out in the bottom
line, and to this extent the figures are comparable with those of the
previous year. Moreover, the EBITDA of HY1 2018 contains realised synergies
in the amount of about EUR15.6 million and one-off expenditures from ongoing
integration projects in the amount of EUR7.7 million.
Consolidated EBIT (earnings before interest and taxes) rose by 30.0% from
EUR202.0 million (previous accounting in accordance with IAS 18) to EUR262.7
million (accounting in accordance with IFRS 15). From the pro forma
perspective (with the inclusion of Drillisch in the previous year), the EBIT
rose by 7.4% from EUR244.5 million (previous accounting in accordance with
IAS 18) to EUR262.7 million (accounting in accordance with IFRS 15). The
lower percentage growth in comparison with the EBITDA results from the
increase in write-offs from purchase price allocations (so-called PPA
write-offs) related to the takeover of Drillisch in 2017.
Ralph Dommermuth, CEO of 1&1 Drillisch, summarised the outlook for 2018:
"Our revenue and profit figures developed well during HY1 2018. We can
confirm our financial forecasts for the year 2018 as a whole and still
expect revenues of about EUR3.7 billion and an EBITDA of about EUR750
million. Regarding the customer contracts we assume that the achieved growth
of approximately 500 thousand contracts per half year following the business
combination of 1&1 and Drillisch will continue. Therefore we expect an
overall growth of approximately one million contracts to approximately 13.64
million contracts in 2018. We have decided not to participate in the fiercer
price competition in the mobile-discount-segment since May 2018 and
consequently not to further increase the sales performance this year."
Performance Indicators Pursuant to IFRS - Comparison HY1 2018 v. HY1 2017
in EURm HY1 2018 HY1 2017 Cha- HY1 2017 Pro Cha-
(IFRS 15) (IAS 18) nge forma* (IAS nge
18)
Revenue 1,819.0 1,276.5 +42- 1,587.8 +14-
.5% .5%
EBITDA 340.1 210.1 +61- 282.4 +20-
.9% .4%
EBITDA margin in % 18.7% 16.5% 17.8%
EBIT 262.7 202.0 +30- 244.5 +7.-
.0% 4%
EBIT margin in % 14.4% 15.8% 15.4%
Profit/loss per share in 1.01 1.36** -25- 1.04 -2.-
euros .4% 9%
Profit per share in EUR 1.24 1.36** -9.- 1.04 +19-
without PPA write-offs 1% .2%
Customer contracts in 13.11 8.88 +4.- 12.12 +0.-
current product lines 23 99
(million)
thereof mobile internet 8.73 4.57 +4.- 7.81 +0.-
16 92
thereof DSL/VDSL 4.38 4.31 +0.- 4.31 +0.-
07 07
*Pro forma perspective: inclusion of Drillisch
**Without the positive special effects from the sale of Versatel Group
The interim report will become available on the Company's home page on 13
August 2018.
https://www.1und1-drillisch.de/investor-relations/reports
Maintal, 13 August 2018
1&1 Drillisch AG
The Management Board
Disclaimer: This report contains statements regarding the future which are
based on the current assumptions and projections of the 1&1 Drillisch AG
management. Various risks, uncertainties and other factors, both known and
unknown, can cause actual developments, especially in the results, financial
position, and the business of our Company, to deviate substantially from the
projections about the future as they are shown here. The Company does not
undertake any obligation to update such future-oriented statements and to
adapt them to future events or developments.
Contact:
Oliver Keil
Head of Investor Relations
Mail: [email protected]
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13.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: 1&1 Drillisch Aktiengesellschaft
Wilhelm-Röntgen-Straße 1-5
63477 Maintal
Germany
Phone: +49 (0)6181 412 218
Fax: +49 (0)6181 412 183
E-mail: [email protected]
Internet: www.drillisch.de
ISIN: DE0005545503
WKN: 554550
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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