Drillisch 1H net profit up 50.6%; confirms full-year guidance

14 Aug 2008

German mobile service provider Drillisch has reported record net profits of EUR11.30 million (USD16.85 million) for the first half of this year, up 50.6% on the same period a year ago, adding 205,000 subscribers in the six months to 30 June 2008, to lift its total base to 2.28 million. The company said 1H08 revenues reached EUR173.8 million, up 2.3% compared with EUR169.9 million at the end of 1H07. First-half gross operating profits climbed 4.2% year-on-year from EUR35.4 million to EUR36.9 million. Adjusted EBITDA for the first six months of this year climbed 19.8% to EUR20.3 million and EBITS was 9.3% higher y-o-y at EUR16.7 million; the EBITDA margin of almost 12% exceeded expectations. Cash flow from operation was EUR19.8 million in 1H08, compared with EUR8 at the end of the first quarter, and 104% higher than the EUR10.1 million figure reported at 30 June 2007. Drillisch restated its guidance of EBITDA of around EUR40 million for FY2008 and a subscriber base of about 2.35 million by end-December 2008.

Germany, 1&1 (formerly 1&1 Drillisch)