Freenet AG achieves EBITDA of half a billion euros and proposes dividend increase

freenet AG announced that it generated EBITDA of 500.2 million euros for the 2023 financial year, marking the crossing of half a billion euros for the first time. The company also proposed an increase in its dividend to 1.77 euros per share. Group revenues increased by 2.8%, reaching €2,627.3 million, while free cash flow amounted to €262.6 million, up 5.3%. For 2024, freenet forecasts EBITDA between 495 and 515 million euros and free cash flow between 260 and 280 million euros, while continuing to distribute 80% of the latter in dividends.

The mobile communications segment witnessed significant growth, with service revenues increasing by 2.5% to €1,707.4 million. The TV and media segment, supported by waipu.tv, recorded strong subscriber growth, also contributing to a revenue increase of 10.2% to €345.4 million. This performance is the result of a strategy focused on developing subscription offerings in the mobile communications and television entertainment sectors, despite external challenges such as consumer restraint and high energy and financial costs.