freenet reports 8.5% rise in Q1 EBITDA

German mobile service provider freenet has confirmed its guidance for full year 2012, following the announcement of its financial results for the first quarter of the year. The company said it generated revenue EUR744.2 million (USD960.9 million) in the three months ended 31 March 2012, down 5.7% year-on-year, while earnings before interest, tax, depreciation and amortisation (EBITDA) totalled EUR85.1 million in 1Q12, an increase of 8.5% from EUR78.4 million in the year-ago quarter. Group net profit from continuing operations for the reporting period rose by EUR14.6 million or 56% year-on-year to EUR40.6 million. At 31 March 2012 freenet had a mobile subscriber base of 14.74 million (Q1 2011: 15.64 million), including 5.69 million post-paid users, 6.58 million pre-paid customers and 2.46 million no-frills users. freenet said it confirms its guidance for 2012 issued at the beginning of the year; the company said it expects group EBITDA of EUR340 million and free cash flow of EUR240 million.