1&1 Reports Preliminary H1-2024 Results and Updates Forecast

Montabaur, 2 August 2024 – 1&1 AG reported a growth of 90,000 customer contracts in the first half of 2024, reaching a total of 16.35 million. This included 110,000 new mobile Internet contracts, though broadband lines fell by 20,000 to 3.99 million.

High-margin service revenue increased by 3.8% to €1,644.9 million, while low-margin hardware revenue dropped to €371.0 million. Overall, total revenue for H1 2024 rose by 1.1% to €2,015.9 million.

EBITDA in the Access segment increased by 11.4% to €437.6 million. However, start-up costs for the 1&1 mobile network rose to -€111.0 million, leading to a total EBITDA decline of -7.2% to €326.6 million. Excluding out-of-period expenses, total EBITDA decreased by -3.2% to €340.9 million.

The company's investment volume fell due to phasing effects, amounting to €34.0 million.

Following a mobile network outage and subsequent cancellations, contract and service revenue growth in H1 2024 were lower than expected. The company has adjusted its forecast, now expecting a 3% increase in service revenue to around €3.33 billion and a 9% rise in Access segment EBITDA to approximately €860 million.