Freenet Ag · XETR:FNTN

Freenet — FY2024 Earnings Presentation

24 slides from Freenet's earnings presentation, March 2025

  1. Slide 1: freenet AG | 2024 Q4 FY Analyst and Investor Presentation

    freenet AG | 2024 Q4 FY Analyst and Investor Presentation Preliminary results Christoph Vilanek, CEO Ingo Arnold, CFO

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains forward-looking statements which involve risks and uncertainties. The actual performance, results and timing of the business of freenet AG could differ materially from the expectations regarding performance, results and timing expressed in this presentation. The

  3. Slide 3: Business Update

    Business Update Christoph Vilanek CEO 3

  4. Slide 4: A look back at a very successful year for freenet

    Business Update I Financial Update I Appendix Group A look back at a very successful year for freenet Setting future guardrails for our businesses 2024   Mobile Communications fit for the future IPTV set to increase EBITDA contribution Achieving strong growth in both segments  Strongest postpaid

  5. Slide 5: 2024 KPIs meet expectations and guidance

    Business Update I Financial Update I Appendix Group 2024 KPIs meet expectations and guidance Subscribers Revenues in m (end of period) in EURbn +6.9% +3.9% 9.5 10.1 2.39 2.48 FY 23 FY 24 2024 Guidance: Overall customer growth✓ FY 23 FY 24* 2024 Guidance: moderate growth ✓ EBITDA Free cash flow in EU

  6. Slide 6: Mobile is fit for the future

    Business Update I Financial Update I Appendix Mobile Communications Mobile is fit for the future New MNO contracts in place since mid-24  Long-term contracts with DTE, TEFD, VOD  Extending tariff portfolio (incl. 5G & “white label” shop brands, e.g. Happy SIM) Enhancing brand recognition in the pu

  7. Slide 7: Postpaid growth above expectations

    Business Update I Financial Update I Appendix Mobile Communications Postpaid growth above expectations Mobile subscribers in m (end of period) +0.173 +0.096 FY 24: Postpaid growth of +182k, clearly (+2.3%) (+1.3%) exceeded soft guidance of >100k 7.54 7.56 7.57 7.62 7.71 0.12 0.12 0.12 0.12 0.11 Q4 2

  8. Slide 8: IPTV with more focus on EBITDA contribution

    Business Update I Financial Update I Appendix TV and Media IPTV with more focus on EBITDA contribution waipu.tv extended partnerships, channels and visibility  Almost 300 channels in HD, partnering with relevant VoD-Player (new in 2024: JOYN+, Disney+, WOW Sports)  Brand recognition at >60% waipu.

  9. Slide 9: waipu.tv subscribers base close to 2m

    Business Update I Financial Update I Appendix TV and Media waipu.tv subscribers base close to 2m Total TV subscribers in m (end of period) +0.484 +0.093 FY 24: waipu.tv growth of +571k, just below (+24.8%) (+4.0%) soft guidance of ~600k; freenet TV meets 2.44 expectation (-87k) 2.34 2.24 2.07 1.95 Q

  10. Slide 10: Transition plan for Scope 1+2 adopted

    Business Update I Financial Update I Appendix ESG Transition plan for Scope 1+2 adopted CO2e emissions (Scope 1+2) in t -26%  Transition plan for climate protection adopted for Scope 1+2 emissions 4,576  Reduction target: around 63 % by 2030 (fully in line with the 1.5-degree target of the Paris C

  11. Slide 11: Financial Update

    Financial Update Ingo Arnold CFO Remark regarding Gravis: Gravis Computervertriebsgesellschaft mbH, Berlin (hereinafter referred to as “Gravis”) discontinued its business operations as of 30 June 2024. In accordance with the IFRS 5 accounting standard, the activities of Gravis and certain business t

  12. Slide 12: Adj. EBITDA reflects announced 'transition year'

    Business Update I Financial Update I Appendix Group Adj. EBITDA reflects announced ‘transition year’ Revenues Gross profit EBITDA in EURm in EURm in EURm +3.9% +6.5% +3.5% 2,385.3 2,477.7 914.8 973.9 503.9 521.5 +5.9% +6.2% +8.0% 619.4 656.2 249.6 265.0 126.3 136.4 Q4 23 Q4 24 FY 23 FY 24 Q4 23 Q4 2

  13. Slide 13: EBITDA in FY24 increased by 1.7%

    Business Update I Financial Update I Appendix Mobile Communications EBITDA in FY24 increased by 1.7% Revenues Gross profit EBITDA in EURm in EURm in EURm +0.8% +3.1% +1.7% 2,040.7 2,057.2 682.5 703.4 420.3 427.3 +0.9% 339.0 -3.2% -7.8% 333.3 525.5 530.0 186.2 180.3 113.3 104.5 94.4 98.1 1,707.4 1,71

  14. Slide 14: Stable Postpaid ARPU and DLS business

    Business Update I Financial Update I Appendix Mobile Communications Stable Postpaid ARPU and DLS business Postpaid ARPU Mobile subs DLS revenues in EUR in m (end of period) in EURm -1.1% -0.6% +1.3% +2.3% -0.2% 17.9 17.7 18.0 17.9 7.71 7.71 171.8 171.5 7.62 0.11 7.54 0.11 -5.0% 0.12 0.12 44.9 7.60 4

  15. Slide 15: Customer intake leads to gross profit growth

    Business Update I Financial Update I Appendix TV and Media Customer intake leads to gross profit growth Revenues Gross profit EBITDA in EURm in EURm in EURm +15.8% +7.7% -6.6% +16.3% 399.9 215.0 231.6 110.2 102.9 345.4 +5.1% +0.6% 108.9 58.4 61.4 24.3 24.4 93.6 Q4 23 Q4 24 FY 23 FY 24 Q4 23 Q4 24 FY

  16. Slide 16: Strong free cash flow leads to record dividend

    Business Update I Financial Update I Appendix Group Strong free cash flow leads to record dividend EBITDA-to-FCF bridge – incl. IP address sales (EUR18.4m) Dividend & SBB potential in EURm -71.8 -38.5 -38.3 80 % of FCF dividend payout 1.97 521.5 -60.5 EUR -20.0 -0.1 DPS proposal 292.3 thereof: 0.12

  17. Slide 17: Financial structure as of YE 24

    Business Update I Financial Update I Appendix Group Financial structure as of YE 24 Debt maturity Gross debt B/S KPIs in EURm (excl. accrued interest) 250.0 in EURm Cash Equity ratio in EURm 192.0 175.0 181.6 44.4 % 35% 75.0 148.0 415.5 Leverage Leverage 65% (w/o leases) 100.0 44.0 23.5 25.0 0.9x 0.

  18. Slide 18: 2025 Guidance fully in line with ambitions

    Business Update I Financial Update I Appendix Group 2025 Guidance fully in line with ambitions freenet Group Unit 2024 Actuals 2025 Guidance Revenue EURm 2,477.7 Moderate growth Adj. EBITDA EURm 503.1 520 - 540 Free cash flow EURm 292.3 300 - 320 Segment Mobile Unit 2024 Actuals 2025 Guidance Revenu

  19. Slide 19: Q&A Contact Upcoming events

    Q&A Contact Upcoming events Investor Relations & ESG Reporting 06.03.2025 Frankfurt aM (GER) Roadshow FY 24 (Warburg) +49 (0)40 513 06 778 11.03.2025 London (UK) BNP Paribas Exane TMT Conference [email protected] 03.04.2025 Munich (GER) Munich Capital Market Conference 2025 IR website IR events IR downl

  20. Slide 20: Appendix

    Appendix  Retrospective restatements for FY 23  2025 Guidance vs. Consensus  2025 Adj. EBITDA-to-FCF bridge (expected)  freenet 2028 Financial ambition

  21. Slide 21: Retrospective restatements for FY 23

    Business Update I Financial Update I Appendix Group Retrospective restatements for FY 23 EBITDA FY 23 in EURm +3.6 (+0.7%) 503.9 0.0 0.7 Pure P&L All original P&L reclassification items Retrospective at waipu.tv: reclassified to increase of Advertising the provisions for revenue share is ‘Discontinu

  22. Slide 22: 2025 Guidance fully in line with consensus

    Business Update I Financial Update I Appendix Group 2025 Guidance fully in line with consensus freenet Group Unit 2024 Actuals 2025 Guidance 2025 Consensus Revenue EURm 2,477.7 Moderate growth 2,529.7 Adj. EBITDA EURm 503.1 520 - 540 531.4 Free cash flow EURm 292.3 300 - 320 310.2 Segment Mobile Uni

  23. Slide 23: 2025 Adj. EBITDA-to-FCF bridge (expected)

    Business Update I Financial Update I Appendix Group 2025 Adj. EBITDA-to-FCF bridge (expected) Adj. EBITDA-to-FCF in EURm 14 -45 -50 -55 -60 - 540 -23 447.3 260 - 280 300 - 320 520 Adj. EBITDA One-off IP-sale CNWC Taxes CapEx (net) Lease payments Interest FCF (EBITDA) payments Analyst and Investor Pr

  24. Slide 24: freenet 2028 Financial ambition

    Business Update I Financial Update I Appendix Group freenet 2028 Financial ambition EBITDA-to-EBITDA bridge General remarks on 2028 ambition in EURm  Based on freenet's business performance up to CAGR: ~4% September 2024 -20 ≥ 600  No M&A or inorganic growth assumed ≥100  No product portfolio ext

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