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1&1 Drillisch H1 EBIT Down

1&1 Drillisch AG reported that its consolidated EBIT or earnings before interest and taxes for the first half of 2019 declined to 261.1 million euros from 262.7 million euros in the prior year.

But, earnings before interest, taxes, and depreciation and amortisation or EBITDA rose to 340.4 million euros from last year's 340.1 million euros. This small increase results from a contractual adjustment mechanism for certain advance service prices not being extended again at the end of 2018.

Revenues grew by 0.4% to 1.83 billion euros from 1.82 billion euros in the same period last year.

Owing to the increased demand on the part of current customers for LTE mobile rate plans, the company adjusting revenue forecast in that it now expects an increase by about 3% instead of growth of about 4% in the service revenue for 2019, compared to 2.88 billion euros in 2018.

The company currently expects EBITDA to grow by about 8% in 2019 instead of increasing by about 10%, compared to 721.9 million euros reported in 2018). After the conclusion of the assessment arbitration, the company is planning to issue an even more concrete forecast for the EBITDA.

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