Germany · Delayed Price · Currency is EUR United Internet AG Earnings Call Transcripts
Fiscal Year 2026
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Revenue and EBITDA grew across all segments in H1 2026, with strong gains in Mail & Media and IONOS. Guidance for 2026 is confirmed, with H2 EBITDA expected to accelerate due to network expansion and customer monetization. eSIM and AI initiatives are key growth drivers.
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Customer contracts grew to 30.1 million, with revenue up 2.5% and EBITDA up 2.4% year-over-year. Segment highlights include strong growth in IONOS and Mail & Media, while 1&1 maintained stable performance amid competitive pressures. Guidance for 2026 is confirmed.
Fiscal Year 2025
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Revenue grew 1.9% year-over-year, with strong gains in business and consumer applications, while EBITDA margin for business applications reached 35.2%. AI integration is seen as a key growth driver, and segment reporting will be restructured in 2026.
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Customer contracts and revenue grew modestly, with EBITDA up but EBIT down due to higher depreciation from network investments. CapEx remains elevated, peaking in 2025, while leverage is stable at 2.4x EBITDA. Major milestones include the 1&1 network migration and energy business disposal.
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Fee-based contracts and premium subscribers grew, driving a 4.3% revenue increase and 2% EBITDA growth, while EBIT declined due to higher depreciation. IONOS and business applications showed strong momentum, and full-year guidance was confirmed despite ongoing high CapEx.
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Q1 2025 saw revenue rise 4.2% to EUR 1.63 billion and EBITDA remain stable, but EBIT and EPS declined due to higher network investment costs. Guidance for 2025 was raised, with significant CapEx planned for network expansion and continued focus on cloud and ad-tech growth.
Fiscal Year 2024
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Revenue grew 1.9% year-over-year, with strong gains in business and consumer applications, while EBITDA remained stable despite higher network expansion costs. A one-off catch-up dividend is proposed, and 2025 guidance targets 6% EBITDA growth and continued high CapEx for network and fiber expansion.
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Revenue grew 2% to €4.66B, but EBITDA and EBIT declined due to heavy network investments and higher depreciation. FY2024 guidance is maintained, with revenue expected at €6.35B and EBITDA at €1.38B, contingent on compensation for network outages.
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Revenue and service revenue grew modestly in H1 2024, but EBITDA declined due to heavy network investments and higher depreciation. Guidance for full-year revenue and EBITDA was lowered slightly, with continued high CapEx and negative free cash flow expected as network expansion continues.