Freenet AG achieves EBITDA of half a billion euros for the first time and proposes dividend increase

freenet AG announced its preliminary results for the 2023 financial year, marking an important milestone with EBITDA reaching the €500 million mark for the first time. In response to this performance, the company is proposing an increase in its dividend.

The year 2023 saw significant growth for freenet, with a 2.8% increase in revenue to €2,627.3 million. EBITDA increased by 4.5%, amounting to 500.2 million euros. This growth is attributed to the continued optimization of the mobile telecommunications business and expansion in the television sector, notably with the addition of 400,000 new subscribers to waipu.tv. In this context, the company exceeded its financial objectives with free cash flow increasing by 5.3%, reaching 262.6 million euros.

Progress was also notable in the mobile communications segment, with an increase in service revenues and a growing postpaid customer base. freenet continues to benefit from customers transitioning from prepaid to more flexible postpaid contracts. On the television and media side, waipu.tv particularly shone with significant growth in subscribers, consolidating its position in the German IPTV market.

Faced with these positive results, freenet forecasts a 5.4% increase in dividend per share for 2024 and maintains an optimistic business outlook. The company expects moderate to significant growth in its key segments, while continuing to invest in waipu.tv brand awareness.