United Internet 1H revenue rises 14.1% on DSL growth

27 Aug 2010

German ISP United Internet has announced its financial and operational results for the six months ended 30 June 2010, reporting a 14.1% year-on-year rise in revenue to EUR930.8 million (USD1.18 billion), compared to EUR815.7 million in the same period of 2009. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the first half of 2010 totalled EUR182 million, up from EUR174 million the previous year, representing an increase of 4.8%. The company said growth was driven by its DSL business, as well as the strong domestic and international demand from private and commercial users for online applications. However, earnings before interest and taxes (EBIT) were down 3.7% on the previous year at EUR142.2 million due to a scheduled increase in depreciation of EUR10.8 million following the acquisition of freenet’s DSL customers. At 30 June 2010 United Internet had a DSL customer base of 3.31 million, of which 2.01 million were ‘complete DSL’ customers (up from 1.57 million at 30 June 2009) and the remaining 1.3 million were resale/T-DSL customers (down from 1.78 million).

The company has confirmed its forecasts for full-year 2010: consolidated sales are predicted to grow by around 15% year-on-year to EUR1.9 billion, while EBITDA is expected to remain stable compared to 2009, at around EUR356.1 million.

Germany, United Internet (1&1)