United Internet Ag · XETR:UTDI
United Internet — Investor Presentation (November 2025)
40 slides from United Internet's investor presentation, November 2025
Slide 1: United Internet AG Company Presentation 9M 2025
UNITED INTERNET AG Company Presentation (9M 2025) 1 United Internet AG - Company Presentation 9M 2025
Slide 2: KPIs 9M 2025 with IONOS AdTech business as discontinued operation
KPIs 9M 2025 WITH IONOS ADTECH-BUSINESS AS DISCONTINUED OPERATION ▪ 29.50 million customer contracts: + 480,000 in the first 9 months 2025 Revenues and earnings figures (in € million) 9M 2024 (1) 9M 2025 (1) Change Revenues (2) 4,442.2 4,502.2 + 1.4% EBITDA (2) 948.1 966.4 + 1.9% EBIT (2) 499.5 443.
Slide 3: Agenda
AGENDA I. Group Overview & Investment Case II. Business Area Access (Consumer & Business) III. Business Area Applications (Consumer & Business) IV. Financial results & Outlook V. ESG & Rankings 3 United Internet AG - Company Presentation 9M 2025
Slide 4: United Internet's attractive investment case
I. UNITED INTERNET‘S ATTRACTIVE INVESTMENT CASE CONSUMER & BUSINESS ACCESS (~ 4,900 FTE‘S) CONSUMER & BUSINESS APPLICATIONS (~ 5,300 FTE‘S) Europe’s most modern 5G mobile network, based on innovative IONOS is the largest web hosting provider in Europe with ~80% Operating EBITDA Open RAN technology b
Slide 5: Group structure
I. GROUP STRUCTURE (as of November, 2025) Business Areas Minority Investments Access Applications 86.46% 100% 100% 63.80% Consumer Access Business Access Consumer Applications Business Applications 31.52% 25.39% (1) 17.58% (2) 4.49% 25.10% 20.00% (1) Held indirectly through 63.84 % stake in IONOS (2
Slide 6: Access
II. ACCESS* Consumer Access Business Access ▪ Revenues: € 4,064.3 million ▪ Revenues: € 574.9 million ▪ EBITDA: € 590.8 million ▪ EBITDA: € 165.1 million ▪ Profitability: 14.5% EBITDA margin ▪ Profitability: 28.7% EBITDA margin ▪ FTE: ~ 3,300 ▪ FTE: ~ 1,650 ▪ Total contracts: 16.39 million * Figures
Slide 7: Consumer Access: segment highlights
May 2025 May 2025 II. CONSUMER ACCESS: SEGMENT HIGHLIGHTS ORAN network 4th largest German network operator Strong brands Europe’s most modern 5G mobile network based on 1&1 is the fourth largest telecommunications provider in Services are marketed under the premium 1&1 brand and innovative Open RAN
Slide 8: Consumer Access segment: customer contracts
II. CONSUMER ACCESS SEGMENT: CUSTOMER CONTRACTS (in million) Mobile Internet Broadband connections 18 16.39 16.34 16 -0.05 ▪ 16.34 million customer contracts (- 50,000) 14 ▪ 12.48 million mobile internet contracts (+ 40,000) 12 12.44 ▪ 3.86 million broadband connections (- 90,000) 10 12.48 8 6 4 2 3
Slide 9: Consumer Access segment: revenues
II. CONSUMER ACCESS SEGMENT: REVENUES (acc. to IFRS in € million) Service revenues Other revenues 3,200 3,017.2 3,016.2 -1.0 (0.0%) ▪ +/- 0.0% revenues to € 3,016.2 million 2,800 2,400 ▪ +/- 0.0% service revenues to € 2,479.3 million 2,000 ▪ - 0.3% other revenues (in particular low-margin 2,478.7 2,
Slide 10: Consumer Access (I): EBITDA
II. CONSUMER ACCESS (I): EBITDA (acc. to IFRS in € million) 500 463.0 ▪ - 11.5% EBITDA to € 409.8 million including -53.2 409.8 (-11.5%) 400 ▪ € - 201.2 million costs for rollout of 1&1 mobile network (prior year: € - 167.1 million) 300 ▪ 13.6% EBITDA margin (prior year: 15.3%) 200 100 0 9M 2024 9M
Slide 11: Consumer Access (II): EBITDA of the two subsegments
II. CONSUMER ACCESS (II): EBITDA OF THE TWO SUBSEGMENTS (acc. to IFRS in € million) EBITDA “Access” 750 “Access” 630.1 611.0 -19.1 600 (-3.0%) 450 ▪ - 3.0% EBITDA to € 611.0 million 300 ▪ 20.3% EBITDA margin (prior year: 20.9%) 150 0 9M 2024 9M 2025 EBITDA “1&1 Mobile Network” “1&1 Mobile Network” 0
Slide 12: Business Access: segment highlights
July 2025 II. BUSINESS ACCESS: SEGMENT HIGHLIGHTS Powerful network infrastructure Digitalization partner Recurring revenues 1&1 Versatel operates one of the largest German fiber optic Serves businesses of all sizes (from SMEs to large Predominantly subscription-based income with recurring networks (
Slide 13: Business Access segment: revenues
II. BUSINESS ACCESS SEGMENT: REVENUES (acc. to IFRS in € million) 500 430.7 435.4 +4.7 (+1.1%) ▪ + 1.1% revenues to € 435.4 million 400 300 200 100 0 9M 2024 9M 2025 13 United Internet AG - Company Presentation 9M 2025
Slide 14: Business Access segment: EBITDA
II. BUSINESS ACCESS SEGMENT: EBITDA (acc. to IFRS in € million) 150 ▪ + 2.1% EBITDA to € 123.1 million 120.6 123.1 +2.5 120 (+2.1%) ▪ € - 16.3 million start-up costs (prior year: € - 22.0 million) in the new business areas “5G” and “expansion 90 of commercial areas” 60 ▪ 28.3% EBITDA margin (prior y
Slide 15: Applications
III. APPLICATIONS* Consumer Applications Business Applications ▪ Revenues: € 298.3 million ▪ Revenues: € 1,560.3 million ▪ EBITDA: € 113.2 million ▪ EBITDA: € 430.2 million ▪ Profitability: 37.9% EBITDA margin ▪ Profitability: 27.6% EBITDA margin ▪ FTE: ~ 1,100 ▪ FTE: ~ 4,200 ▪ Total contracts: 41.9
Slide 16: Consumer Applications: segment highlights
III. CONSUMER APPLICATIONS: SEGMENT HIGHLIGHTS Market leader in private mail Attractive business model Growth in pay accounts Germany’s leading digital B2C platform (GMX, WEB.DE) Ultra capex-light business model (1-2% of this year’s capex Subscription revenues anchored by high single digit growth in
Slide 17: Consumer Applications segment: accounts
III. CONSUMER APPLICATIONS SEGMENT: ACCOUNTS (in million) Free accounts Pay accounts 50 ▪ 41.73 million consumer accounts (- 240,000) due to 41.97 41.73 -0.24 40 seasonal effects, + 70,000 compared to Q3/2024 ▪ 38.47 million free accounts (- 460,000), 30 - 210,000 compared to Q3/2024 38.93 38.47 20
Slide 18: Consumer Applications segment: revenues
III. CONSUMER APPLICATIONS SEGMENT: REVENUES (acc. to IFRS in € million) 250 229.7 217.6 +12.1 (+5.6%) ▪ + 5.6% revenues to € 229.7 million 200 150 100 50 0 9M 2024(1) 9M 2025(1) (1) w/o revenues contributions “Energy” and “De-Mail” (€ 16.1m; prior year: € 19.9m) 18 United Internet AG - Company Pres
Slide 19: Consumer Applications segment: EBITDA
III. CONSUMER APPLICATIONS SEGMENT: EBITDA (acc. to IFRS in € million) 90 82.9 78.9 +4.0 80 (+5.1%) 70 60 ▪ + 5.1% EBITDA to € 82.9 million 50 40 ▪ 36.1% EBITDA margin (prior year: 36.3%) 30 20 10 0 9M 2024(1) 9M 2025(1) (1) w/o earnings contributions “Energy” and “De-Mail” (€ +1.9m; prior year: € -
Slide 20: Business Applications: segment highlights
2025 2024 (4 th time in a row) III. BUSINESS APPLICATIONS: SEGMENT HIGHLIGHTS Leading European digitalization partner Attractive, robust finances Best-in-class churn IONOS is the largest web hosting provider in Europe (active Subscription-based business model with strong revenue Churn remains at bes
Slide 21: Business Applications segment: customer contracts
III. BUSINESS APPLICATIONS SEGMENT: CUSTOMER CONTRACTS (in million) Abroad Domestic 9.90 10 9.59 +0.31 8 ▪ 9.90 million customer contracts (+ 310,000) 4.96 5.15 6 ▪ 5.15 million abroad (+ 190,000) ▪ 4.75 million domestic (+ 120,000) 4 4.63 4.75 2 0 31.12.2024 30.09.2025 21 United Internet AG - Compa
Slide 22: Business Applications segment: revenues
III. BUSINESS APPLICATIONS SEGMENT: REVENUES (acc. to IFRS in € million) 1,000 980.2 923.1 +57.1 (+6.2%) ▪ + 6.2% revenues to € 980.2 million 800 ▪ Customer growth 600 ▪ Increased up- and cross-selling 400 200 0 9M 2024(1) 9M 2025(1) (1) AdTech carried in accordance with IFRS 5 as discontinued opera
Slide 23: Business Applications segment: EBITDA
III. BUSINESS APPLICATIONS SEGMENT: EBITDA (acc. to IFRS in € million) 360 353.4 +62.5 290.9 (+21.5%) 300 240 ▪ + 21.5% EBITDA to € 353.4 million 180 ▪ 36.1% EBITDA margin (prior year: 31.5%) 120 60 0 9M 2024(1) 9M 2025(1) (1) AdTech carried in accordance with IFRS 5 as discontinued operation as of
Slide 24: IONOS is the leading partner for SMB digitalization in Europe
III. IONOS IS THE LEADING PARTNER FOR SMB DIGITALIZATION IN EUROPE WI TH A BROAD STRATEGIC FOOTPRINT AND LEADING LOCAL BRANDS IONOS footprint in 18 markets & local brand champions Webhosting market share in Europe (%)(1) Market 1 share Sweden Europe overall* Germany 1 51% >2x UK Netherlands Poland C
Slide 25: Large and fast-growing market driven by secular trends
III. LARGE AND FAST-GROWING MARKET DRIVEN BY SECULAR TRENDS Large and untapped SMB core target group(1) IONOS addressable market 15-26(3), €b 89 of SMBs in 19% CAGR >90m 96%+ Europe are micro SMBs and SMBs in North America and solo-preneurs 15% CAGR 55 Europe 38 ~58m of solo-preneurs 16 15 SMBs acro
Slide 26: Comprehensive product portfolio, first class customer care and infrastructure
III. COMPREHENSIVE PRODUCT PORTFOLIO, FIRST CLASS CUSTOMER CARE AND INFRASTRUCTURE Strong customer support organisation (Personal Service Agent & 24/7 multi-channel support) WEB PRESENCE & PRODUCTIVITY CLOUD SOLUTIONS One-stop-shop for all digitalization needs of SMBs Trusted European cloud provider
Slide 27: IONOS one-stop-shop portfolio enables end-to-end digitisation journey
III. THE IONOS ONE-STOP-SHOP PORTFOLIO ENABLES AN END-TO-END DIGITISATION JOURNEY FOR OUR CUSTOMERS 1 3 5 7 MyWebsite Now Digitize your business and Leverage cloud For domains Set up your processes with computing, scalable that have website and a trusted partner infrastructure and already been prese
Slide 28: Results 9M 2025
IV. RESULTS 9M 2025 28 United Internet AG - Company Presentation 9M 2025
Slide 29: Group: key figures as of September 30, 2025
IV. GROUP: KEY FIGURES AS OF SEPTEMBER 30, 2025 P&L figures according to IFRS in € million 9M 2024 (1) 9M 2025 (2) Change Fee-based customer contracts (in million) 28.85 29.50 ▪ + 0.65 Ad-financed free accounts (in million) 38.68 38.47 ▪ - 0.21m (Pay accounts: + 0.28m) Revenues 4,442.2 4,502.2 ▪ + 1
Slide 30: Group: EBITDA / free cash flow bridge
IV. GROUP: EBITDA / FREE CASH FLOW BRIDGE AS OF SEPTEMBER 30, 2025 (acc. to IFRS in € million) 968.3 33.0 -485.4 -110.0 -82.9 -64.1 259.0 -113.0 146.1 EBITDA EBITDA Capex Phasing effects Tax Working Capital Free Cashflow Leasing Free Cashflow 9M 2025(1) AdTech (net) from Q4 2024 & others 9M 2025 aft
Slide 31: Outlook 2025
IV. OUTLOOK 2025 31 United Internet AG - Company Presentation 9M 2025
Slide 32: Outlook 2025
IV. OUTLOOK 2025 (1) We are confirming our revenue and EBITDA forecast and are specifying our Cash -CAPEX forecast with accounting for AdTech as discontinued operation (2) ▪ Revenues: approx. € 6.05 billion (2024: € 5.991 billion) ▪ EBITDA: approx. € 1.3 billion (2024: € 1.252 billion), including ap
Slide 33: Share and dividend
IV. SHARE AND DIVIDEND 33 United Internet AG - Company Presentation 9M 2025
Slide 34: Share price development and shareholder structure
IV. SHARE PRICE DEVELOPMENT AND SHAREHOLDER STRUCTURE 60 € € 59.80 (ATH: 09.01.2018) € 26.38 (07.11.2025) Key Share Facts & Figures: 50 € ▪ ISIN: DE0005089031 40 € ▪ WKN: 508903 € 2.77 (24.03.1998) 30 € ▪ Stock Exchange: Xetra 2008: Financial crisis 20 € ▪ Index: MDAX, TecDAX 2002: Dotcom bubble bur
Slide 35: Shareholder return
IV. SHAREHOLDER RETURN Dividend payments Share buy backs Share capital (cumulative in € million) (cumulative in € million) (in € million) 1600 270 1,800 1400 1,600 250 1,400 1200 1,200 230 1000 1,000 800 210 800 600 600 190 400 400 170 200 200 0 0 150 ▪ Dividend payment for fiscal year 2024: ▪ Total
Slide 36: Sustainability
V. SUSTAINABILITY 36 United Internet AG - Company Presentation 9M 2025
Slide 37: ESG at a glance at United Internet
V. ESG AT A GLANCE AT UNITED INTERNET Climate Circular economy Social commitment Cybersecurity 10-30% 285,000 kg €73m 99.9% higher energy efficiency of raw materials saved raised to support children in spam emails blocked the Open RAN network through refurbishment and need through the UNICEF success
Slide 38: ESG ratings 2024
V. ESG RATINGS 2024 C A 25.99 Medium Risk TRANSPARENCY PRIME THRESHOLD Negligible Low Medium High Severe VERY HIGH C+ 0-10 10-20 20-30 30-40 40+ Focus: Environmental & Social Performance Focus: Maintaining leadership in Governance Focus: Reducing exposure to ESG risks 85% share of renewable energy a
Slide 39: Investor Relations contact & disclaimer
INVESTOR RELATIONS CONTACT & DISCLAIMER DOMINIC GROSSMANN VOTING RIGHTS* Head of Investor Relations ▪ United Interent AG ▪ Elgendorfer Straße 57 Phone: +49 2602 / 96-1671 ▪ D-56410 Montabaur Mail: dgrossmann@united-internet.de ▪ Mail: voting-rights@united-internet.de General: investor-relations@unit
Slide 40: Our success story continues!
UNITED INTERNET AG Our success story continues! 40 United Internet AG - Company Presentation 9M 2025
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