freenet reports preliminary FY 2010 results

24 Feb 2011

German mobile service provider freenet has announced it generated revenue of EUR3.34 billion (USD4.6 billion) in the twelve months ended 31 December 2010, compared to EUR3.6 billion a year earlier. According to preliminary figures, the company improved its group earnings before interest, tax, depreciation and amortisation (EBITDA) by 2.4% over 2009 to EUR334.9 million. This includes restructuring-related one-off items totalling EUR31.6 million. Recurring group EBITDA – adjusted for one-off items – came to EUR366.5 million in full-year 2010, compared to EUR392.9 million in the previous year. The group profit from continued operations increased from EUR17.7 million in 2009 to EUR118.8 million a year later, while profit including discontinued operations amounted to EUR112.5 million. freenet said it almost tripled its pre-tax earnings from EUR36.7 million in 2009 to EUR102.6 million a year later. The company expects recurring group EBITDA of EUR325 million and free cash flow of over EUR200 million in the 2011 financial year, following the completion of integration activities in the course of the year.

At 31 December 2010 freenet reported a mobile subscriber base of 15.65 million, of which 6.11 million were post-paid users, compared to 6.98 million at the end of 2009. Average revenue per user (ARPU) stablised at EUR24, thanks to an increase in the share of smartphone sales. The mobile communications segment generated revenue of EUR3.27 billion in full-year 2010.

Germany, freenet