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freenet boasts 152% y-o-y rise in Q2 revenue

13 Aug 2009

German multi-service operator (MSO) freenet has increased its second quarter revenue to EUR912.6 million (USD1.29 billion) in 2009, up 152% year-on-year, while revenue for the first six months of 2009 reached EUR1.82 billion, up 148% over the first half of 2008. Total gross profit and earnings before interest, tax, depreciation and amortisation (EBITDA) also increased significantly year-on-year. At EUR206.2 million, gross profit for Q2 2009 was up 122% versus the same period in 2008 and EBITDA more than doubled year-on-year to reach EUR75.8 million. For the first half of 2009, gross profit totalled EUR411.1 million, up 116.2% year-on-year, while EBITDA amounted to EUR157.6 million, reflecting an 88.7% increase compared to the first half of 2008..

One-off expenses for the first half of 2009 totalled nearly EUR28 million, of which around EUR26 million were incurred by the Mobile Communications segment. The group’s net profit from continued operations (excluding the DSL business, which was sold to United Internet in May 2009) totalled EUR11.1 million for Q2 2009 and EUR21.7 million for H1 2009. freenet’s mobile subscriber base reached 17.95 million at 30 June 2009, of which 52.5% are pre-paid users. Meanwhile, active narrowband subscribers (internet and telephony) fell from 2.09 million from the first half of 2008 to 1.07 million a year later.

Germany, freenet

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