United Internet Publishes Final Figures for First Half-Year 2024

United Internet AG has released its final figures for the first half of 2024. The company reported a rise of 330,000 customer contracts, bringing the total to 28.78 million. Sales increased by 2.8%, reaching EUR 3.100 billion. However, EBITDA declined by 1.0% to EUR 662.3 million due to higher start-up costs for the 1&1 mobile network.

The consumer access segment added 90,000 contracts, business applications gained 130,000, and consumer applications reported an increase of 110,000 contracts. Sales growth was tempered by lower hardware revenues in the consumer access segment and reduced after-market sales in business applications.

EBITDA was affected by EUR -111.0 million in rollout costs for the 1&1 mobile network and EUR -14.3 million in out-of-period expenses. Depreciation increased to EUR -257.9 million due to investments in the 1&1 Versatel fiber-optic network. EBIT stood at EUR 347.4 million.

United Internet has adjusted its full-year guidance, now expecting sales of EUR 6.4 billion and EBITDA of EUR 1.38 billion in 2024. Cash capex is projected to rise by 15-25% year-over-year due to the establishment of a stock of network components.