freenet AG

euro adhoc: freenet AG
quarterly or semiannual financial statement
freenet merger produces first results
good performance seen in first six months of 2007

@@start.t1@@--------------------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc. The issuer is responsible   for the content of this announcement. --------------------------------------------------------------------------------@@end@@

6-month report


@@start.t2@@freenet merger produces first results / good performance seen in first six
months of 2007
•          Customer growth in all emerging segments: mobile telephony + 270,000,
DSL + 390,000, contract customers + 670,000 (vs. end of June 2006)
•          Operating profits up: EBITDA at EUR136.0 million; EBT EUR107.1 million@@end@@

Büdelsdorf, 08th August 2007 - In the first full quarter following the completion of the merger in March, freenet AG showed continued growth in its major lines of business, and registered a year-on-year increase in profitability. The number of customers also rose across all of the group´s growth segments: the end of June 2007 saw 5.24 million mobile phone customers, an increase of 270,000 customers compared with the first half of 2006, and 1.22 million broadband customers. freenet has thus added 390,000 DSL customers since the end of June 2006. In all, freenet had over 11.9 million customers at the end of the 2nd quarter, including 6.21 million contract customers. Due to the mandatory partial capitalization of customer acquisition and customer retention costs pursuant to IAS 38 and freenet´s new wholesale agreement with Deutsche Telekom in mid-2006, any direct comparisons with the same quarters of last year are possible only to a very limited extent. These changes result in this quarterly report showing lower sales against rising gross earnings and operating profits. Against this backdrop and in a market characterised by steadily increasing competition and dwindling prices especially in the mobile telephony and broadband segments, freenet generated second-quarter revenues of EUR466.9 million, a good 3 percent increase vs. the prior quarter, and first-half revenues totalling EUR919.3 million. The mobile telephony segment accounted for EUR302.8 million of this, the fixed-line / Internet business contributed EUR164.1 million. The Group´s greatly improved margins and gross profit figures were reflected in the operating profits. EBITDA rose from EUR65.5 million (Q1/2007) to EUR70.5 million in Q2/2007, yielding EBITDA of EUR136.0 million for the first half of 2007 - a good 71 percent increase compared with the first six months of 2006. Earnings before taxes and interest (EBIT) came to EUR96.7 million for the first half of 2007, nearly 70 percent above the first-half figure for 2006 (EUR56.9 million). During the first six months of 2007, freenet AG had earnings before taxes (EBT) of EUR107.1 million, a more than 70 percent increase compared with the first half of 2006. The Group operating profit also improved to EUR89.8 million in the first half of 2007.

Important KPI's of freenet group Accounting method: IAS/IFRS

@@start.t3@@in EURm                                1st half 2007 1st half 2006 Q2/2007 Q1/2007 Q2/2006
Group revenue                      919.3              1,017.3          466.9    452.4    495.3
Revenue Mobile                    581.5              640.8              302.8    278.8    315.5
Revenue Fixed/Internet        337.8              376.4              164.1    173.7    179.8
Group gross profit              299.2              232.9              157.3    141.9    120.5
Group EBITDA                        136.0              79.6                70.5      65.5      41.5
Group EBIT                          96.7                56.9                45.9      50.9      29.9
Group EBT                            107.1              62.9                51.3      55.8      33.1
Net result                          89.8                37.8                39.9      49.9      19.8
Earnings per share              0.93                0.45                0.41      0.52      0.26
Cash and cash equivalents  540.6              470.6              540.6    538.0    470.6
Customers total                  11.86              13.75              11.86    12.68    13.75
thereof contract customers 6.21                5.54                6.21      6.12      5.54@@end@@

@@start.t4@@end of announcement                                                 euro adhoc 08.08.2007 07:34:30

ots Originaltext: freenet AG
Im Internet recherchierbar:

Further inquiry note:
Andreas Neumann
Tel.: +49 (0)40 51306-778

Branche: Online
ISIN:      DE000A0EAMM0
WKN:        A0EAMM
Index:    TecDAX, CDAX, Prime All Share, HDAX, Midcap Market Index,
              Technologie All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse Hannover / free trade
              Börse München / free trade

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