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Freenet Q2 EBITDA Increases; Confirms FY Outlook

Freenet AG (FRAGF.PK) reported that its second-quarter EBITDA increased to 109.7 million euros from 107.5 million euros in the prior year.

EBITDA without regulatory effects / MOTION TM rose to 114.7 million euros from 109.5 million euros in the prior year.

But quarterly revenue declined to 622.1 million euros from 624.3 million euros in the prior year. The prior year's revenue adjusted for the sale of MOTION TM.

The subscriber base reported a year-on-year net increase of 266.7 thousand customers or 3.2 per cent to 8.490 million customers in the first half of 2020.

The company still sees no need to adjust its financial and non-financial performance indicator forecasts and confirmed the guidance issued for the 2020 financial year.

The company said in February that it anticipated stable revenue, which adjusted for hardware retail business MOTION TM, for the financial year 2020. EBITDA was expected to remain largely unchanged within a range of 415 million eurosto 435 million euros.

The company confirmed its dividend policy of distributing at least 80 per cent of free cash flow.

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