10.08.2016 freenet AG  DE000A0Z2ZZ5

DGAP-News: freenet AG emphasises dividend strength with heavy increase in free cash flow during second quarter


 
DGAP-News: freenet AG / Key word(s): Half Year Results freenet AG emphasises dividend strength with heavy increase in free cash flow during second quarter 10.08.2016 / 18:01 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- freenet AG emphasises dividend strength with heavy increase in free cash flow during second quarter - Group revenue increases by 7.3 per cent to 807.7 million euros (previous year: 752.5 million euros); sales contribution from new segment "TV and Media" included - Own customer base (customer ownership) grew by 3.4 per cent to 9.42 million (previous year: 9.11 million); contract customer base increases by 3.8 per cent to 6.39 million - Postpaid ARPU on level of previous year with 21.4 euros - EBITDA* improves significantly by 17.7 per cent to 104.8 million euros (previous year: 89.1 million euros) - Free cash flow** increases substantially to 115.9 million euros (previous year: 74.1 million euros) - Confirmation of the guidance for the financial year 2016 Büdelsdorf, August 10, 2016 - freenet AG [ISIN DE000A0Z2ZZ5] published its interim report as at June 30, 2016 (second quarter 2016) today, and confirmed the guidance for the financial year 2016. In the second quarter 2016, the company generated Group revenue with an increase by 7.3 per cent compared to the previous year amounting to 807.7 million euros (previous year: 752.5 million euros). Besides the stable mobile communication business, this is mainly due to the increasing valuable digital lifestyle revenue and the sales contribution from the newly created segment "TV and Media". The business segment Mobile Communications continued to be dominating within the company in the second quarter 2016 with revenue of 737.8 million euros (previous year: 739.0 million euros). The segment "TV and Media" newly created against the background of the most recently performed transactions provided a first sales contribution, including the Media Broadcast Group (with retrospective effect as from March 18, 2016) as well as EXARING AG (with retrospective effect as from January 1, 2016). The segment "TV and Media" records revenue amounting to 78.0 million euros for the period from January 1 to June 30, 2016 (Q2/2016: 67.6 million euros), which is mainly attributable to the Media Broadcast Group. "In the second quarter, we advanced the strategic guidance in the new business segment "TV and Media". We launched our new DVB-T2 HD product named "freenet TV" and put everything into the development of the planned IPTV product "waipu.tv", says Christoph Vilanek, CEO of freenet AG. "At the same time, we have pursued our core business Mobile Communications with the same intensity and successfully stabilised it", adds Joachim Preisig, CFO of freenet AG. With the strategic orientation of the freenet Group as Digital Lifestyle Provider, the company keeps its focus in the core business segment Mobile Communications on valuable customer relationships as regards both new customer acquisition and existing customer management. The success of this orientation is mirrored, among others, in the development of the important control parameter customer ownership, which comprises the strategically important customer groups postpaid and no-frills. With an increase by 313 thousand to 9.42 million, the base in this customer segment improved yet again compared to the previous year (previous year: 9.11 million). The increase is mainly based on the disproportionate growth in the postpaid sector, which encompasses all 24-month mobile contracts marketed in the company. Here, the number of customers increased by 232 thousand to 6.39 million (previous year: 6.16 million). Simultaneously, the average monthly revenue per contract customer (postpaid ARPU) was stabilised at 21.4 euros as planned on the level of the previous year. The no-frills customer base which encompasses all mobile contract tariffs distributed via the discount brands of the company with less than 24 months' term increased by 81 thousand to 3.02 million as compared to the previous year (previous year: 2.94 million). The monthly average revenue achieved per customer in this area (no-frills ARPU) was 2.4 euros and therefore 0.2 euros lower than in the previous year (2.6 euros). The gross profit increased significantly by 33.5 million euros to 219.9 million euros (previous year: 186.4 million euros). The gross profit margin rose accordingly to 27.2 per cent (previous year: 24.8 per cent). Group earnings before interest, taxes on income, depreciation and amortisation (EBITDA) , that also include the profit shares of Sunrise Communications Group AG improved by 17.7 per cent to 104.8 million euros (previous year 89.1 million euros). The depreciations and deferred taxes from the subsequent accounting of the shadow purchase price allocation of Sunrise Communications AG do not affect EBITDA. The depreciations and amortisations increased to 35.1 million euros (previous year: 18.8 million euros), which is mainly due to the increased stock of tangible and intangible assets by the company acquisitions (Media Broadcast Group and EXARING AG), as well as the preliminary purchase price allocation conducted in this context by the Media Broadcast Group and the final purchase price allocation of EXARING AG. The interest result as account balance of the interest income and expense amounted to -21.3 million euros in the reporting quarter (previous year: -9.7 million euros) and is mainly inferred from the increase of the net interest expense by 11.6 million euros. One of the main reasons for the increased net interest expense is the new financing conducted in March 2016. Considering the revenue from income taxes in the amount of to 6.6 million euros (previous year: expenses amounting to 5.7 million euros) the Group result amounts to 49.6 million euros (previous year: 54.9 million euros). The latter corresponds to a result per share of 0.40 euros (previous year: 0.42 euros). The free cash flow increased significantly by 41.8 million euros to 115.9 million euros (previous year: 74.1 million euros). This development mainly results from the significant increase of the cash flow from operating activities by 52.9 million euros to 133.6 million euros (previous year: 80.7 million euros). Besides the considerable growth of the EBITDA, the dividend distribution of Sunrise Communications Group AG amounting to 30.1 million euros in April is the main reason for the aforementioned development. The cash flow from investing activities amounted to -39.7 million euros (previous year: -6.5 million euros) in the second quarter, and mainly included the payments for the share acquisition of another 0.73 percent of the share capital of Sunrise Communications Group AG. The cash flow from financing activities amounted to -393.3 million euros (previous year: -123.1 million euros) in the reporting quarter. The change is primarily based on the dividend distribution amounting to 198.4 million euros conducted in the second quarter 2016 and the repayment of the corporate bond of the nominal value of 400.0 million euros plus the payment of accumulated interest on the corporate bond in the amount of 28.5 million euros. On the other hand, the company received 239.3 million euros by taking on financial debt. "The results of the first half, respectively the second quarter 2016 are within our expectations, which is why we confirm our guidance for the current financial year", says Joachim Preisig. Against this background, the Executive Board continues to target a moderately increasing Group revenue for the financial year 2016 compared to the previous year, an EBITDA of slightly more than 400 million euros and a free cash flow of approximately 300 million euros. Beyond that, the company continues to expect an additional EBITDA contribution of around 10 million euros for the total year of 2016 from the participation in Sunrise Communications Group AG. By resolution of the General Meeting of Sunrise Communications Group AG, freenet AG received a dividend of 30.1 million euros cash-effective on April 21, 2016. The free cash flow increased accordingly by the expected approx. 30 million euros in the second quarter 2016, which are not part of the guidance. The objective targets for the development of the performance indicators postpaid ARPU and customer ownership in the financial year 2016 remain unchanged: The Company continues to expect a stabilisation of the postpaid ARPU on the level of 2015 and a slight increase in the customer ownership numbers compared to the financial year 2015. In spite of the new financing in the framework of the company acquisitions, the Executive Board remains with its current finance strategy. Thus, the company continues to target a debt ratio within the communicated target range (between 1.0 and 2.5). Regarding the dividend policy, the Executive Board intends to continue to pay out between 50 and 75 percent of the annually achieved free cash flow to its shareholders. To emphasise the sustainability of the business model, the Executive Board continues to intend to suggest a dividend of 1.60 euros per dividend-bearing share for the financial year 2016 to the Supervisory Board and the Annual General Meeting in 2017. The complete interim report as at June 30, 2016 may be downloaded here: www.freenet-group.de/investor-relations, where the conference call will be broadcasted on August 11, 2016 at 10:00 a.m. CEST via Webcast. * 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). ** 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. --------------------------------------------------------------------------- 10.08.2016 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 --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- 491379 10.08.2016


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 3.507,26 2.897,47 2.932,54 2.576,23 2.556,32 2.556,71 2.627,30
EBITDA1,2 541,20 441,18 426,80 425,88 447,33 478,70 500,20
EBITDA-Marge3 15,43 15,23 14,55 16,53 17,50 18,72
EBIT1,4 260,83 311,99 269,95 262,98 250,04 129,40 218,00
EBIT-Marge5 7,44 10,77 9,21 10,21 9,78 5,06 8,30
Jahresüberschuss1 275,57 212,16 184,73 561,01 191,20 81,85 134,50
Netto-Marge6 7,86 7,32 6,30 21,78 7,48 3,20 5,12
Cashflow1,7 385,36 369,48 364,23 357,06 367,21 395,69 0,00
Ergebnis je Aktie8 2,24 1,74 1,49 4,44 1,62 0,67 1,12
Dividende8 1,65 1,65 0,04 1,65 1,57 1,68 1,60
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
©boersengefluester.de
Freenet
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0Z2ZZ 26,080 Kaufen 3.100,93
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
15,90 15,99 0,99 13,49
KBV KCV KUV EV/EBITDA
2,65 7,84 1,18 6,87
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
1,68 1,77 6,79 08.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
16.05.2024 08.08.2024 08.11.2024 27.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
3,48% 9,10% 2,92% 11,26%
    
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