1&1 AG Releases Final Key Figures for H1 2024

Montabaur, 8 August 2024 – 1&1 AG reported final key figures for the first half of 2024, with customer contracts increasing by 90,000 to 16.35 million. New mobile Internet contracts grew by 110,000, reaching a base of 12.36 million, while broadband lines slightly declined by 20,000 to 3.99 million.

The company's high-margin service revenue rose by 3.8% to €1,644.9 million. However, low-margin hardware revenue dropped to €371.0 million. Total revenue for H1 2024 increased by 1.1% to €2,015.9 million.

Operating EBITDA in the Access segment grew by 11.4% to €437.6 million, but due to planned start-up costs and out-of-period expenses for its mobile network, total EBITDA fell by 7.2% to €326.6 million. EBIT declined to €196.1 million, and EPS dropped to €0.77.

Due to a mobile network outage in May 2024, the company faced increased cancellations impacting growth. Consequently, 1&1 AG adjusted its 2024 forecast, expecting service revenue to grow by 3% to €3.33 billion and EBITDA to reach around €686 million. Investment volume is anticipated to be approximately €460 million.