United Internet Reports Moderate Growth in First Nine Months of 2024

United Internet AG announced a successful first nine months of 2024, with an increase in customer contracts by 420,000, reaching a total of 28.87 million. The company witnessed a 2.0% growth in sales, totaling EUR 4.661 billion. However, EBITDA fell by 1.4% to EUR 978.4 million due to higher start-up costs for the 1&1 mobile network.

The growth in customer contracts was driven by 90,000 new Consumer Access contracts, 150,000 Business Applications contracts, and 180,000 in Consumer Applications. Despite increased sales, hardware revenue declines affected growth, notably reducing revenues by EUR 74.4 million in the Consumer Access segment.

Looking ahead, United Internet remains confident about its financial targets for 2024. Sales are expected to rise to approximately EUR 6.35 billion, with EBITDA potentially reaching EUR 1.38 to 1.39 billion, confirming their previous earnings guidance.