BUEDELSDORF (dpa-AFX) - freenet AG (FRTAF.PK), Wednesday announced first-quarter results, reporting group revenues of 604.4 million euros, compared to previous year's 594.5 million euros, primarily due to positive customer development in both the mobile communications and TV business.
On adjusted basis, EBITDA for the quarter declined to 126.1 million euros compared to 127.1 million euros last year.
The company's subscriber base stood at 10.240 million versus 10.149 million in the previous year.
Following the strong business development, freenet confirmed the guidance for the current financial year.
Looking ahead, the company expects adjusted EBITDA of 520 million euros to 540 million euros, and a free cash flow of 300 million euros to 320 million euros for the current full year.
Currently, freenet's stock is trading at $39.73 on the OTC Markets.
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