freenet AG

EANS-Adhoc: freenet AG
freenet AG reports increase in earnings for first nine months of 2010

-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report 10.11.2010 10/11/2010 freenet AG reports increase in earnings for first nine months of 2010 • 2,491.2 million euros in Group revenue • Recurring Group EBITDA at 268.9 million euros • Reported Group EBITDA at 244.3 million euros • Group result at 73.0 million euros • 165.6 million euros cash flow from operating activities • 677.8 million euros net debt Büdelsdorf, 10 November 2010 - freenet AG improved its profitability in the first nine months of 2010 despite continued tough competition. Recurring Group EBITDA (earnings before interest, taxes and depreciation/amortisation) - adjusted for one-off items - for the first three quarters of 2010 came to 268.9 million euros. freenet AG confirms its guidance of 350 million euros in recurring Group EBITDA for the financial year 2010, as issued in March 2010. During the first nine months of 2010, freenet AG generated Group third-party revenue in the amount of 2.49 billion euros, vs. 2.71 billion euros in the same period of 2009. The Group result for the first three quarters of 2010 increased by 61.0 million euros to 73.0 million euros, compared with 12.0 million euros in the first nine months of 2009. At 21.6 percent for the first three quarters of 2010, the Group´s gross profit margin was above the previous year´s nine-months figure of 20.9 percent. Group EBITDA for the first nine months of 2010 was 244.3 million euros - up 7.8 percent on the previous year´s figure of 226.6 million euros. This includes restructuring-related one-off items in the amount of 24.6 million euros for the Group, against 45.6 million euros in the first nine months of 2009. Recurring Group EBITDA - adjusted for one-off items - came to 268.9 million euros for the first three quarters of 2010, against 272.2 million euros for the first nine months of 2009. freenet AG increased its pre-tax earnings (EBT) by 60.5 million euros, from 8.1 million euros for the first three quarters of 2009 to currently 68.6 million euros. In the first nine months of 2010, freenet AG generated 165.6 million euros in cash flow from operating activities and reduced its net debt by 112.0 million euros compared to year-end 2009, to currently 677.8 million euros. The Mobile Communications segment contributed 2.43 billion euros, or more than 97 percent, to total segment revenue in the first nine months of 2010, primarily under the mobilcom-debitel brand. The drivers behind the Mobile Communications revenue are first, the planned and therefore expected 10.1 percent year-on-year decrease in mobile communications customers to 15.84 million at the end of September 2010 and second, the stabilisation of contract customer ARPU (monthly average revenue per user) to 24.5 euros in the third quarter of 2010, vs. 24.8 euros in Q3/2009. Key financials of freenet Group Accounting method: IAS/IFRS Overview Group |Q1-Q3/2010|Q1-Q3/2009|Q3/2010|Q2/2010|Q3/2009 |adjusted* | |adjusted* Result in EUR million Third-party revenue |2,491.2 |2,709.5 |846.9 |838.2 |929.8 Gross profit |538.5 |565.8 |177.1 |195.5 |191.7 EBITDA |244.3 |226.6 |85.2 |88.2 |80.8 EBITDA recurring |268.9 |272.2 |95.7 |95.0 |98.8 EBIT |101.5 |75.3 |39.0 |39.3 |32.3 EBT |68.6 |8.1 |30.0 |28.7 |14.5 Group result from continued operations |72.5 |4.7 |28.6 |28.9 |-11.3 Group result from discontinued operations |0.4 |7.4 |0.0 |-5.3 |13.4 Group result |73.0 |12.0 |28.6 |23.6 |2.1 Overview Mobile Communications segment |Q1-Q3/2010|Q1-Q3/2009|Q3/2010|Q2/2010|Q3/2009 Customer development in million Mobile Communications customers |15.84 |17.62 |15.84 |16.53 |17.62 Thereof contract customers (excluding no-frills customers) |6.37 |7.12 |6.37 |6.60 |7.12 Thereof prepaid customers |7.56 |9.16 |7.56 |8.08 |9.16 Thereof no-frills customers** |1.91 |1.34 |1.91 |1.85 |1.34 Result in EUR million Revenue |2,425.9 |2,601.6 |827.2 |815.9 |897.3 Gross profit |497.8 |516.7 |164.5 |182.1 |175.8 EBITDA |242.5 |224.7 |87.0 |85.9 |87.2 EBITDA-adjusted/recurring |264.0 |264.8 |95.8 |92.1 |101.2 EBIT |109.0 |86.2 |43.8 |40.2 |42.9 EBIT-adjusted/recurring |130.4 |126.3 |52.5 |46.3 |56.9 Monthly average revenue per user (ARPU) in EUR Contract customer (excluding no-frills) |23.8 |24.3 |24.5 |24.2 |24.8 Prepaid customer |3.1 |3.0 |3.4 |3.1 |3.2 No-frills customer** |5.1 |5.7 |5.5 |5.1 |6.0 * A retrospective adjustment was made with regard to including the DSL distribution unit in the discontinued operation "DSL Business". ** Starting in Q1/2010 including no-frills-prepaid. end of announcement euro adhoc -------------------------------------------------------------------------------- Further inquiry note: freenet AG Investor Relations Tel.: +49 (0)40 513 06-778 E-Mail: ir@freenet.ag Branche: Telecommunications ISIN: DE000A0Z2ZZ5 WKN: A0Z2ZZ Index: Midcap Market Index, TecDAX, CDAX, HDAX, Prime All Share, Technology All Share Börsen: Frankfurt / regulated dealing/prime standard Berlin / free trade Hamburg / free trade Stuttgart / free trade Düsseldorf / free trade Hannover / free trade München / free trade

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