Internet specialist United Internet (UDIRF.PK) Tuesday reported growth in earnings per share for the first quarter, aided by increased sales and improved customer addition. Further, the company said that based on the first quarter results, it is well on course to meet the targets set for 2013 as a whole.
Earnings per share for the quarter advanced to 0.23 euros from 0.15 euros.
Earnings Before Interest, Taxes, Depreciation and Amortization or EBITDA climbed 29.5 percent to 91.3 million euros from 70.5 million euros last year.
Earnings Before Interest and Taxes or EBIT climbed 41.4 percent to 68.3 million euros.
Consolidated sales advanced 9.2 percent to 629.7 million euros from 576.9 million euros in the previous year, reaching a new all-time high.
The company added 330,000 contracts, compared to 320,000 last year.
Looking ahead, Ralph Dommermuth, CEO, said, ''With the figures for customer contracts, sales and earnings reached in the first quarter of 2013, we are well on course to meet our targets.''
The firm expects earnings per share to rise strongly to 1.00 euro to 1.10 euros. EBITDA from established business fields is expected to reach around 500 million euros in 2013.
The company plans to use around 20 percent of the EBITDA amount to finance start-up losses from the further expansion of new business fields.
The company continues to expect an increase in fee-based customer contracts of around
one million and sales growth of about 10 percent.
The stock closed at 23.25 euros on Monday, up 2.5 percent from the previous close.
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