Freenet AG Reports Successful 2024 Nine-Month Performance

freenet AG has announced an increase in revenues and subscribers for the first nine months of 2024. Revenues rose by 2.9% to EUR 1,816 million, compared to EUR 1,765 million in the previous year. Consequently, the company has revised its financial forecast, projecting moderate revenue growth. EBITDA at the end of September was EUR 380 million, slightly above the previous year's EUR 376.8 million. This has led to a narrowed EBITDA forecast of EUR 500 - 515 million for the year.

The TV and media segment, particularly waipu.tv, showed strong growth. Subscribers increased to over 2.3 million, with waipu.tv gaining 461.2 thousand customers in the nine-month period. This contributed to a 15.6% rise in segment revenues, reaching EUR 291 million. However, segment EBITDA dipped to EUR 78.4 million due to increased brand investments.

Mobile Communications also witnessed satisfactory customer growth, with revenues rising slightly. Overall, freenet expects continued positive performance as it approaches the year's end.