Telecommunications service provider 1&1 AG (DRI.DE) reported that its fiscal year 2022 earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased by 2.5 percent to 693.3 million euros from the prior year. The result included 39.4 million euros in out-of-period income in 2021 related to conditions of the new national roaming agreement applicable as of 1 July 2020, which were corrected retroactively.
Excluding the out-of-period income, comparable operating EBITDA was at 671.9 million euros, resulting in 2022 in a comparable EBITDA increase of 3.2 percent or 21.4 million euros compared to the same period last year.
The company's net loss was 983.1 million euros compared to net profit of 364.8 million euros in the prior year. The result included a non-cash impairment loss on the carrying amount under commercial law of the subsidiary 1&1 Telecommunication SE in the amount of 1.34 billion euros.
The company noted that the number of its customer contracts increased by 350,000 to 15.78 million.
Revenue rose by 1.4 percent to 3.96 billion euros from the prior year. High-value service revenue increased by 1.7 percent to 3.18 billion euros from the previous year.
For the financial year 2023, the company expects a growth of about 500,000 new customer contracts. Service revenue is expected to increase by around 2 percent to about 3.23 billion euros compared to 3.175 billion euros in 2022.
Annual EBITDA is now expected at about 655 million euros compared to 693.3 million euros.
The company said its boards will propose an unchanged dividend of 0.05 euros per share for the fiscal year 2022 at the Annual Shareholders' Meeting on May 16, 2023.
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