United Internet Ag · XETR:UTDI
United Internet — H1 2024 Earnings Presentation
32 slides from United Internet's earnings presentation, Aug 8, 2024
Slide 1: United Internet AG 6-Month 2024
UNITED INTERNET AG 6-Month 2024 Frankfurt/Main, August 8, 2024 1 H1 2024 Frankfurt/Main, August 8, 2024
Slide 2: Agenda
AGENDA Ralph Dommermuth Company development Outlook 2024 Ralf Hartings Results H1 2024 2 H1 2024 Frankfurt/Main, August 8, 2024
Slide 3: Company Development
COMPANY DEVELOPMENT 3 H1 2024 Frankfurt/Main, August 8, 2024
Slide 4: Business Areas: Access & Applications
2 BUSINESS AREAS: ACCESS & APPLICATIONS ACCESS APPLICATIONS Consumer Access Consumer Applications Motivated Team 11,000 employees, of which approx. 4,000 in product management, development and data centers Powerful network infrastructure 64,500 km of fiber network 5G mobile network Over 100,00
Slide 5: Brands & Investments
BRANDS & INVESTMENTS (as of June 30, 2024) Consumer Access Business Consumer Applications Business Partners 20.00% 25.39% 31.52% 17.58%* 4.49%** 25.10% * Held indirectly via the 63.84% interest in IONOS Group SE ** Held indirectly via the 4.71% interest in Kublai GmbH 5 H1 2024 Frankfurt/Main, Augus
Slide 6: "Access" in H1 2024
“ACCESS” IN H1 2024 CONSUMER ACCESS CONSUMER APPLICATIONS BUSINESS ACCESS BUSINESS APPLICATIONS 6 H1 2024 Frankfurt/Main, August 8, 2024
Slide 7: "Consumer Access"
“CONSUMER ACCESS” Fixed-line 1&1 with 3.99 million broadband connections VDSL and FTTH complete packages including voice and IP-TV via 1&1 Versatel, with last mile via Deutsche Telekom and City Carrier Mobile 12.36 million mobile contracts First Open RAN in Europe, fully virtualized Migrat
Slide 8: "Consumer Access": Customer Contracts
“CONSUMER ACCESS”: CUSTOMER CONTRACTS (in millions) Mobile Internet Broadband connections 20 16.35 million customer contracts (+90,000) 16.26 16.35 +0.09 15 12.36 million mobile Internet contracts (+110,000) 3.99 million ADSL / VDSL / FTTH broadband lines 10 12.25 12.36 (-20,000) 5 4.01 3.99 0
Slide 9: "Consumer Access": Revenues
“CONSUMER ACCESS”: REVENUES (acc. to IFRS in € millions) Service revenues Other revenues (mainly hardware) 2,500 +1.1% revenues to € 2.016 billion 1,993.1 2,015.9 +22.8 2,000 +3.8% service revenues to € 1.645 billion (+1.1%) 1,500 -9.2% other revenues (especially smartphones) 1,584.6 1,644.9 t
Slide 10: "Consumer Access" (I): Total EBITDA
“CONSUMER ACCESS” (I): TOTAL EBITDA (acc. to IFRS in € millions) 400 352.0 326.6 -25.4 -7.2% EBITDA to € 326.6 million, including (-7.2%) 300 € -111.0 million from expenses for the expansion of the 1&1 mobile network (prior year: € -40.8 million), thereof 200 € -14.3 million in out-of-period exp
Slide 11: "Consumer Access" (II): EBITDA Subsegments
“CONSUMER ACCESS” (II): EBITDA SUBSEGMENTS (acc. to IFRS in € million) EBITDA “Access” 500 437.6 400 392.8 +44.8 “Access” (+11.4%) 300 +11.4% EBITDA to € 437.6 million 200 100 21.7% EBITDA margin (prior year: 19.7%) 0 H1 2023 H1 2024 EBITDA “1&1 Mobile Network” “1&1 Mobile Network” 0 -50 -96.7
Slide 12: "Business Access"
“BUSINESS ACCESS” 1&1 Versatel operates one of the largest German fiber optic networks Project business and plug-and-play solutions for medium-sized companies Businesses 64,455 km of fiber optic network FTTB In more than 350 German cities, including the Authorities 25 largest cities 26,781
Slide 13: "Business Access": Revenues
“BUSINESS ACCESS”: REVENUES (acc. to IFRS in € millions) 300 283.2 270.8 +12.4 (+4.6%) +4.6% revenues to € 283.2 million 200 100 0 H1 2023 H1 2024 13 H1 2024 Frankfurt/Main, August 8, 2024
Slide 14: "Business Access": EBITDA
“BUSINESS ACCESS”: EBITDA (acc. to IFRS in € millions) 80 77.2 78.7 +1.5 (+1.9%) +1.9% EBITDA to € 78.7 million, including € -16.4 million start-up costs (prior year: € -11.8 million) in 60 the new business areas “5G” and “expansion of commercial areas” 40 27.8% EBITDA margin (prior year: 28.5
Slide 15: "Applications" in H1 2024
“APPLICATIONS” IN H1 2024 CONSUMER ACCESS CONSUMER APPLICATIONS BUSINESS ACCESS BUSINESS APPLICATIONS 15 H1 2024 Frankfurt/Main, August 8, 2024
Slide 16: "Consumer Applications"
“CONSUMER APPLICATIONS” With GMX, WEB.DE and mail.com, one of the leading providers of consumer applications Broad product portfolio for private customers: Communication Online Office texts, spreadsheets, Personal Information Management (e-mail, and organization presentations E-mail, calendar, t
Slide 17: "Consumer Applications": Accounts
“CONSUMER APPLICATIONS”: ACCOUNTS (in millions) Free-Accounts Pay-Accounts 50 42.73 41.66 -1.07 41.66 million Consumer accounts (-1.07 million) 40 38.75 million free accounts (-1.18 million) 30 particularly due to seasonal factors and higher security 39.93 38.75 requirements 20 2.91 million pa
Slide 18: "Consumer Applications": Revenues
“CONSUMER APPLICATIONS”: REVENUES (acc. to IFRS in € millions) 150 144.4 +17.3 127.1 (+13.6%) +13.6% revenues to € 144.4 million 100 50 0 H1 2023 (1) H1 2024 (1) (1) Excluding revenue contributions of € 13.4m (prior year: € 13.9m) from Energy and De-Mail 18 H1 2024 Frankfurt/Main, August 8, 2024
Slide 19: "Consumer Applications": EBITDA
“CONSUMER APPLICATIONS”: EBITDA (acc. to IFRS in € millions) 60 +16.4% EBITDA to € 53.9 million 53.9 +7.6 46.3 (+16.4%) 37.3% EBITDA margin (prior year: 36.4%) 40 Continued good revenues growth expected; the 20 associated profitability growth is to be invested in future growth in H2 2024 0 H1 20
Slide 20: "Business Applications"
“BUSINESS APPLICATIONS” IONOS as Europe's leading digitization partner for freelancers and small/medium-sized enterprises and reliable cloud enabler Active in 15 European countries as well as in the USA, Canada and Mexico Broad product portfolio from Web Presence & Productivity to Cloud Soluti
Slide 21: "Business Applications": Customer Contracts
“BUSINESS APPLICATIONS”: CUSTOMER CONTRACTS (in millions) Abroad Domestic 10 9.39 9.52 +0.13 9.52 million customer contracts (+130,000) 8 4.91 million abroad (+110,000) 4.80 4.91 6 4.61 million in Germany (+20,000) 4 2 4.59 4.61 0 31.12.2023 30.06.2024 21 H1 2024 Frankfurt/Main, August 8, 2024
Slide 22: "Business Applications": Revenues
“BUSINESS APPLICATIONS”: REVENUES (acc. to IFRS in € millions) 900 +6.1% revenues to € 751.6 million 751.6 750 708.6 +43.0 (+6.1%) Customer growth 600 Increased up- and cross-selling 450 Lower aftermarket revenues due to temporary phasing effects 300 in connection with a new product launch (
Slide 23: "Business Applications": EBITDA
“BUSINESS APPLICATIONS”: EBITDA (acc. to IFRS in € millions) 225 207.4 192.3 +15.1 +7.9% EBITDA to € 207.4 million (+7.9%) 180 € -8.9 million phasing in marketing expenses 135 € -5.0 million lower EBITDA in the aftermarket business 90 27.6% EBITDA margin (prior year: 27.1%) +12.1% EBITDA gro
Slide 24: Group: KPIs H1 2024
GROUP: KPIs H1 2024 +330,000 customer contracts to 28.78 million contracts Revenues and earnings figures (in € million) H1 2023 (1) H1 2024 (2) Change Revenues 3,014.2 3,099.9 +2.8% EBITDA 668.7 662.3 -1.0% EBIT 407.1 347.4 -14.7% EPS (in €) 0.83 0.61 -26.5% Included in EBITDA 2024: € -111.0 m
Slide 25: Outlook 2024
OUTLOOK 2024 25 H1 2024 Frankfurt/Main, August 8, 2024
Slide 26: Outlook 2024
OUTLOOK 2024 Adjustment on August 2, 2024 Revenues: approx. € 6.4 billion (previously expected: approx. € 6.5 billion; 2023: € 6.213 billion) Lower revenues in “Consumer Access” Lower aftermarket revenues in “Business Applications” EBITDA: approx. € 1.38 billion or approx. € 1.39 billion exc
Slide 27: Results H1 2024
RESULTS H1 2024 27 H1 2024 Frankfurt/Main, August 8, 2024
Slide 28: Group: KPIs as of June 30, 2024
GROUP: KPIs AS OF JUNE 30, 2024 P&L ratios acc. to IFRS in € million H1 2023 (1) H1 2024 (2) Change Fee-based customer contracts 27.91 28.78 +0.87 million Advertising financed free accounts 39.52 38.75 -0.77 milllion (pay accounts: +0.21 million) Revenues 3,014.2 3,099.9 +2.8% -1.0% despite
Slide 29: Group: EBITDA / Free Cash Flow Bridge as of June 30, 2024
GROUP: EBITDA / FREE CASH FLOW BRIDGE AS OF JUNE 30, 2024 (nach IFRS in Mio. €) 661.6 -280.9 -262.9 -155.9 -104.3 36.6 -105.8 -80.0 -185.8 EBITDA Capex Contingent Tax Phasing effects Working Capital Free Cashflow Leasing Free Cashflow H1 2024(1) (net) payment from Q4 2023 & others H1 2024 after leas
Slide 30: Group: Balance Sheet as of June 30, 2024 (I)
GROUP: BALANCE SHEET AS OF JUNE 30, 2024 (I) (acc. to IFRS in € millions) Vermögenswerte 31.12.2023 30.06.2024 Erläuterungen Increase due to investments made in H1 2024 (primarily in Property, plant and equipment / intangible assets 4,406.9 4,656.7 the fiber optic/mobile network) Goodwill 3,628.8
Slide 31: Group: Balance Sheet as of June 30, 2024 (II)
GROUP: BALANCE SHEET AS OF JUNE 30, 2024 (II) (acc. to IFRS in € millions) Liabilities and equity 31.12.2023 30.06.2024 Comments Equity 5,555.1 5,453.1 Equity ratio: -2.3 PP to 47.3% Bank liabilities (net): € 2,793.8 million (December 31, 2023: € 2,436.6 million); Increase in particular due to T
Slide 32: United Internet AG: Our success story continues!
UNITED INTERNET AG Our success story continues! 32 H1 2024 Frankfurt/Main, August 8, 2024