United Internet Ag · XETR:UTDI
United Internet — Q1 2023 Earnings Presentation
27 slides from United Internet's earnings presentation, May 10, 2023
Slide 1: Analyst and Investor Webcast – 3M Results 2023
UNITED INTERNET AG Analyst and Investor Webcast – 3M Results 2023 Montabaur, May 10, 2023 1 Analyst and Investor Call Presentation – 3M 2023 May 10, 2023
Slide 2: Introduction of Ralf Hartings, CFO
INTRODUCTION OF RALF HARTINGS, CFO Ralf Hartings, CFO since April 2023 Ralf Hartings has been a member of the Management Board of United Internet AG since 2023 and is responsible for Finance and Controlling, Risk Management/Internal Audit, Legal, Tax, M&A and Investment Management 2 Analyst and In
Slide 3: KPIs 3M 2023
KPIs 3M 2023 27.70 million customer contracts: +240.000 in the first 3 months 2023 Revenues and earnings figures (in € million) 3M 2022 3M 2023 Change Revenues 1,443.7 1,538.3 +6.6% EBITDA (1) 330.1 319.0 -3.4% EBIT (1) 210.3 188.9 -10.2% EPS (1) (in €) 0.55 0.43 -21.8% EBITDA (1) operative 3M 2
Slide 4: Change in Segment Reporting
CHANGE IN SEGMENT REPORTING No change on consolidated group level Change in segment reporting from the previous “Controlling View" to "Accounting View”: With two companies listed, we have decided to harmonize our reporting and switch to the “Accounting View” in order to ensure the necessary co
Slide 5: “Access” in 3M 2023
“ACCESS” IN 3M 2023 CONSUMER ACCESS CONSUMER APPLICATIONS BUSINESS ACCESS BUSINESS APPLICATIONS 5 Analyst and Investor Call Presentation – 3M 2023 May 10, 2023
Slide 6: Consumer Access Segment: Customer Contracts
CONSUMER ACCESS SEGMENT: CUSTOMER CONTRACTS (in million) Mobile Internet Broadband connections 15.78 15.87 16 +0.09 14 15.87 million customer contracts (+90.000) 12 10 11.68 11.80 11.80 million mobile internet contracts (+120.000) 8 4.07 million broadband connections (-30.000) 6 4 2 4.10 4.07
Slide 7: Consumer Access Segment: Revenues
CONSUMER ACCESS SEGMENT: REVENUES (acc. to IFRS in € million) Service revenues Other revenues 1,200 +4.6% revenues to € 1,021.0 million 1,021.0 +45.1 975.9 (+4.6%) +/-0% service revenues to € 788.9 million 800 +24.3% other revenues (mainly smartphones) 788.9 to € 232.1 million 789.1 400 186.8
Slide 8: Consumer Access (I): EBITDA
CONSUMER ACCESS (I): EBITDA (acc. to IFRS in € million) 200 187.1 -5.0 182.1 (-2.7%) -2.7% EBITDA from € 187.1 million to € 182.1 million 150 € -19.2 million costs for rollout of 1&1 mobile network (prior year: € -8.3 million) 100 17.8% EBITDA margin (prior year: 19.2%) 50 0 3M 2022 3M 2023 8
Slide 9: Consumer Access (II): EBITDA of the Two Subsegments
CONSUMER ACCESS (II): EBITDA OF THE TWO SUBSEGMENTS (acc. to IFRS in € million) EBITDA “Access” 300 195.4 201.3 +5.9 “Access” 200 (+3.0%) +3.0% EBITDA to € 201.3 million 100 19.7% EBITDA margin (prior year: 20.0%) 0 3M 20221 3M 2023 EBITDA “1&1 Mobilfunknetz” “1&1 Mobilfunknetz” 0 € -19.2 mill
Slide 10: Business Access Segment: Revenues
BUSINESS ACCESS SEGMENT: REVENUES (acc. to IFRS in € million) 150 136.1 128.6 +7.5 (+5.8%) 100 +5.8% revenues to € 136.1 million 50 0 3M 2022 3M 2023 10 Analyst and Investor Call Presentation – 3M 2023 May 10, 2023
Slide 11: Business Access Segment: EBITDA
BUSINESS ACCESS SEGMENT: EBITDA (acc. to IFRS in € million) 40 36.2 -1.4 -3.9% EBITDA to € 34.8 million, including 34.8 (-3.9%) € -7.2 million start-up costs (previous year: € -2.2 million) 30 for our fiber-optic network extension to supply additional expansion areas and to connect mobile commun
Slide 12: “Applications” in 3M 2023
“APPLICATIONS” IN 3M 2023 CONSUMER ACCESS CONSUMER APPLICATIONS BUSINESS ACCESS BUSINESS APPLICATIONS 12 Analyst and Investor Call Presentation – 3M 2023 May 10, 2023
Slide 13: Consumer Applications Segment: Accounts
CONSUMER APPLICATIONS SEGMENT: ACCOUNTS (in million) Free accounts Pay accounts 50 42.42 million consumer accounts (-530,000), thereof 42.95 42.42 -0.53 39.74 million free accounts (-570,000) 40 2.64 million pay accounts (+40,000) 30 In comparison to Q1 2022: 220,000 less active free 40.31 3
Slide 14: Consumer Applications Segment: Revenues
CONSUMER APPLICATIONS SEGMENT: REVENUES (acc. to IFRS in € million) 80 71.6 70.0 -1.6 (-2.2%) 60 -2.2% revenues to € 70.0 million compared to extraordinary strong Q1 2022, which was mostly 40 before the Ukraine war and higher inflation 20 0 3M 2022 3M 2023 14 Analyst and Investor Call Presentation
Slide 15: Consumer Applications Segment: EBITDA
CONSUMER APPLICATIONS SEGMENT: EBITDA (acc. to IFRS in € million) 25 22.4 -2.3 20.1 (-10.3%) 20 EBITDA of € 20.1 million was lower by € 2.3 million, 15 mainly as a result of lower revenues 28.7% EBITDA margin (prior year: 31.3%) 10 5 0 3M 2022 (1) 3M 2023 (1) (1) excl. a non-cash valuation effec
Slide 16: Business Applications Segment: Customer Contracts
BUSINESS APPLICATIONS SEGMENT: CUSTOMER CONTRACTS (in million) Abroad Domestic 10 9.04 9.15 +0.11 8 9.15 million customer contracts (+110.000) 4.61 4.66 6 4.66 million abroad (+60.000) 4.49 million domestic (+50.000) 4 2 4.43 4.49 0 31.12.2022 31.03.2023 16 Analyst and Investor Call Presentati
Slide 17: Business Applications Segment: Revenues
BUSINESS APPLICATIONS SEGMENT: REVENUES (acc. to IFRS in € million) 400 353.8 +13.6% revenues to € 353.8 million +42.4 311.4 (+13.6%) Customer growth Increased up- and cross-selling 200 Strong growth in aftermarket business (domain trading platform and domain parking at Sedo) +4.6% revenue
Slide 18: Business Applications Segment: EBITDA
BUSINESS APPLICATIONS SEGMENT: EBITDA (acc. to IFRS in € million) 100 87.0 -5.5 81.5 80 (-6.3%) -6.3% EBITDA to € 81.5 million, included therein € - 9.9 million from differently phased marketing 60 activities compared to prior year 40 + 5.1% comparable EBITDA 23.0% EBITDA margin (prior year: 2
Slide 19: Key Financial KPIs 3M 2023
KEY FINANCIAL KPI S 3M 2023 (contracts in million / financial KPIs acc. to IFRS in € million) 3M 2022 3M 2023 Change Revenues 1.443.7 1.538.3 +6.6% EBITDA (1) 330.1 319.0 -3.4% Capex 80.0 144.5 +80.6% Free cash flow (2) -49.4 -21.5 - 31.12.2022 31.03.2023 Change Net bank liabilities 2,115.0 2,123.5
Slide 20: Group: EBITDA / Free Cashflow Bridge as of March 31, 2023
GROUP: EBITDA / FREE CASHFLOW BRIDGE AS OF MARCH 31, 2023 (acc. to IFRS in € million) 319.0 -143.8 -135.1 -28.8 11.3 -32.9 -21.5 EBITDA Capex (net) Taxes & interest(1) Working Capital Free Cashflow 3M 2022 Leasing Free Cashflow 3M 2023 after leasing (1) Including 58.1 million sales tax prepayment 20
Slide 21: Outlook 2023
OUTLOOK 2023 21 Analyst and Investor Call Presentation – 3M 2023 May 10, 2023
Slide 22: Outlook 2023
OUTLOOK 2023 Full-year guidance confirmed Revenues: approx. € 6.2 billion (2022: € 5.915 billion) EBITDA (excluding derivatives and IONOS IPO) at prior years level (2022: € 1.272 billion), including approx. € 120 million (prior year: € 52 million) for network rollout at 1&1 CAPEX: approx. €
Slide 23: Q&A Session
Q&A SESSION 23 Analyst and Investor Call Presentation – 3M 2023 May 10, 2023
Slide 24: Analyst and Investor Webcast – 3M Results 2023
UNITED INTERNET AG Analyst and Investor Webcast – 3M Results 2023 Montabaur, May 10, 2023 24 Analyst and Investor Call Presentation – 3M 2023 May 10, 2023
Slide 25: Backup
BACKUP 25 Analyst and Investor Call Presentation – 3M 2023 May 10, 2023
Slide 26: Reconciliation Controlling View to Accounting View – Revenues
RECONCILIATION CONTROLLING VIEW TO ACCOUNTING VIEW – REVENUES Controlling view (in € million) Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Q1 2023 Consumer Access 969.4 971.3 992.9 1,009.4 3,943.0 1,017.9 Business Access 128.4 133.4 136.9 144.1 542.8 135.9 Consumer Applications 70.2 69.9 67.9 75.9 283.9 68.
Slide 27: Reconciliation Controlling View to Accounting View – EBITDA (Operative)
RECONCILIATION CONTROLLING VIEW TO ACCOUNTING VIEW – EBITDA (OPERATIVE) Controlling view (in € million) Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Q1 2023 Consumer Access 187.9 182.2 181.9 144.5 696.5 183.8 Business Access 36.6 39.1 37.8 42.1 155.6 35.2 Consumer Applications 26.7 29.7 27.2 35.7 119.3 24.1