Freenet Q2 EBITDA Up 8.3%; Lifts FY EBITDA Outlook

Freenet AG (FRAGF.PK), a German telecom firm, reported that its second quarter EBITDA increased 8.3% to 122.9 million euros from 113.5 million euros in the prior year. The improved profitability is attributable to strong operating performance and thus increased gross profit in both operating segments as well as sustainable optimisation of overhead costs within the freenet group of companies.

Quarterly revenues were 620.1 million euros compared to 619.9 million euros in the previous year.

The company raised its fiscal year 2022 EBITDA guidance due to the positive and dynamic performance of both the TV and Media as well as the Mobile Communications segment and the continuing positive outlook for the second half of 2022.

The company now expects annual EBITDA to be between 460 million euros and 480 million euros for the 2022 full year compared to the prior outlook of 450 million euros to 470 million euros. It represented an increase of 10 million euros or 2.2% compared to the respective midpoints of the original and new guidance.

The guidance for the other key performance indicators remains unchanged.

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