BUEDELSDORF (dpa-AFX) - Freenet AG (FRAGF.PK)? a German network-independent telecommunications provider, confirmed preliminary figures for financial year 2017. Group result increased 27.3 percent to 275.6 million euros from previous year's 216.4 million euros. Earnings per share grew to 2.24 euros from last year's 1.78 euros.
EBITDA increased strongly by 102.4 million euros to 541.2 million euros especially due to the one-off effect of the 'Sunrise Tower Deal', and was thus considerably higher than the previous year figure of 438.8 million euros.
Total revenue increased 4.3 percent to 3.507 billion euros from previous year's 3.362 billion euros. The growth is mainly attributable to the revenue of 294.8 million euros generated by the excellent performance of the TV and Media segment (an increase of 34.7 per cent compared with the previous year figure of 218.9 million euros) as well as higher revenue generated by the sale of hardware and digital lifestyle product.
The Executive Board and the Supervisory Board resolved to propose a dividend of 1.65 euros per eligible share for financial year 2017 to the annual general meeting that will take place on 17 May 2018 in Hamburg. This corresponds to a pay-out ratio of approximately 61.6 per cent of the free cash flow generated in financial year 2017. In this connection, the Executive Board has confirmed its constant dividend policy which is based on shareholder value and which provides for a dividend payment of 50 to 75 percent of the annual free cash flow.
Copyright RTT News/dpa-AFX