BUEDELSDORF (dpa-AFX) - Freenet AG (FRAGF.PK) reported that its first quarter Group EBITDA decreased to 124.2 million euros from the previous year's 128.1 million euros reflecting an increase in brand investments in waipu.tv and the expected rise in personnel expenses.
The number of subscribers increased by 136.8 thousand to about 9.63 million in the first quarter of 2024 from last year's 9.49 million, mainly driven by record growth at waipu.tv.
Group revenues for the quarter slightly increased to 638.9 million euros from the prior year's 637.8 million euros, due to a continued decline in low-margin hardware revenues.
The company confirmed the guidance for the 2024 financial year, which relates to continuing operations, including Gravis at that time. The company still expects EBITDA to be between 495 million euros and 515 million euros; and free cash flow of 260 million euros - 280 million euros.
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