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United Internet Q1 EBITDA Rises; Backs FY19 Outlook - Quick Facts

Europe's internet provider, United Internet AG (UDIRF.PK), Wednesday reported that its earnings before interest and taxes or EBIT for the first quarter declined 1 percent to 181.1 million euros from 182.9 million euros in the year-ago period, and were virtually unaffected by IFRS 16 accounting.

However, earnings before interest, taxes, depreciation and amortization or EBITDA rose 7.7 percent to 299.7 million euros according to IFRS 16, from 278.3 million euros in the year-ago period, according to IFRS 15.

On a per share basis, earnings per share slid to 0.24 euros from 0.42 euros last year. This was due to non-cash impairment charges on shares held in Tele Columbus of 43.1 euros or 0.22 euros per share.

Without consideration of impairment charges, earnings per share amounted to 0.46 euros, corresponding to year-on-year growth of 9.5 percent.

Consolidated sales for the quarter rose 1.2 percent to 1.29 billion euros from 1.27 billion euros in the year-ago period.

The number of fee-based customer contracts was raised by 210,000 to 24.06 million contracts.

For the fiscal year 2019, the company's Management Board continues to expect consolidated sales to grow by about 4 percent from 5.13 billion euros in 2018.
The company projects an increase of about 8 percent for EBITDA from 1.20 billion euros last year, or an increase of about 12 percent including effects from the initial application of IFRS 16.

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