United Internet AG (UDIRF.PK) reported Tuesday that its EBIT, a key earnings metric, for the first nine months of fiscal 2024 declined to 529.5 million euros from last year's 596.3 million euros.
Adjusted earnings per share declined to 0.82 euro from prior year's 1.22 euros.
EBITDA amounted to 978.4 million euros in the period, lower than last year's 992.7 million euros.
Sales, however, grew 2 percent to 4.66 billion euros from 4.57 billion euros in the previous year.
According to the company, the merely moderate sales growth was mainly due to a decline in hardware revenues, especially smartphones, in the Consumer Access segment, as well as lower aftermarket sales in the Business Applications segment. These low-margin hardware and after-market revenues only have a very minor impact on earnings.
During the period, the total number of fee-based customer contracts increased by 420,000 to 28.87 million contracts.
Looking ahead, for fiscal 2024, United Internet continues to expect EBITDA to be around 1.38 billion euros, including out-of-period expenses, or around 1.39 billion euros without out-of-period expenses. In the prior year, EBITDA was 1.30 billion euros.
Further, the firm specified its sales guidance, now expecting an increase to around 6.35 billion euros, while previous guidance was around 6.4 billion euros, compared to last year's 6.213 billion euros.
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