United Internet Ag · XETR:UTDI
United Internet — Investor Presentation (September 2025)
36 slides from United Internet's investor presentation, September 2025
Slide 1: United Internet AG Company Presentation (H1 2025)
UNITED INTERNET AG Company Presentation (H1 2025) 1 United Internet AG - Company Presentation H1 2025
Slide 2: Group: KPIs H1 2025
GROUP: KPIs H1 2025 ▪ + 290.000 customer contracts to 29.31 million contracts Revenues and earnings figures (in € million) H1 2024 (1) H1 2025 (2) Change Revenues 3,099.9 3,231.7 + 4.3 % EBITDA 662.3 675.6 + 2.0 % EBIT 347.4 317.8 - 8.5 % EPS (in €) 0.61 0.59 - 3.3 % 6 ▪ EBITDA H1 2025 includes: € -
Slide 3: United Internet's Attractive Investment Case
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 by 1
Slide 4: Group Structure
GROUP STRUCTURE (as of September, 2025) 1&1 AG IONOS Group SE <15% >85% 63.8% 36.2% shareholders shareholders Consumer Business Consumer Business Minorities Access Access Applications Applications 100% 100% 100% 100% 31.52% 25.39% 17.58%* 4.49%** 25.10% 20.00% * Held indirectly through 63.84 % stake
Slide 5: Access
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 bas
Slide 6: Consumer Access: Segment Highlights
May 2025 May 2025 “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 te
Slide 7: Consumer Access: Customer Contracts
“CONSUMER ACCESS”: CUSTOMER CONTRACTS (in million) Mobile Internet Broadband connections 20 ▪ 16.33 million customer contracts (- 60,000) 16.39 16.33 -0.06 15 ▪ 3.89 million broadband connections (- 60,000) ▪ 12.44 million mobile internet contracts (unchanged) 10 12.44 12.44 5 3.95 3.89 0 31.12.2024
Slide 8: Consumer Access: Revenues
“CONSUMER ACCESS”: REVENUES (acc. to IFRS in € million) Service revenues Other revenues (mainly hardware) 2,500 ▪ - 0.5% revenues to € 2.006 billion 2,015.9 2,006.4 -9.5 2,000 (-0.5%) ▪ + 0.1% service revenues to € 1.647 billion 1,500 ▪ - 3.0% other revenues (in particular low-margin 1,644.9 1,646.5
Slide 9: Consumer Access (I): EBITDA
“CONSUMER ACCESS“ (I): EBITDA (acc. to IFRS in € million) 400 ▪ - 13.1% EBITDA to € 283.9 million including 326.6 -42.7 ▪ € - 130.6 million costs for rollout of 1&1 mobile 300 283.9 (-13.1%) network (prior year: € - 111.0 million) ▪ 14.1% EBITDA margin (prior year: 16.2%) 200 100 0 H1 2024 H1 2025 9
Slide 10: Consumer Access (II): EBITDA of the Two Subsegments
“CONSUMER ACCESS” (II): EBITDA OF THE TWO SUBSEGMENTS (acc. to IFRS in € million) EBITDA “Access” “Access” 500 437.6 414.5 -23.1 ▪ - 5.3% EBITDA to € 414.5 million as a result of the change 400 (-5.3%) 300 in roaming partner (no impact on EBIT, as costs in the 200 agreement with Telefónica were part
Slide 11: Business Access: Segment Highlights
July 2025 “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 (67
Slide 12: Business Access: Revenues
“BUSINESS ACCESS”: REVENUES (acc. to IFRS in € million) 300 283.2 287.3 +4.1 (+1.4%) ▪ + 1.4% revenues to € 287.3 million 200 100 0 H1 2024 H1 2025 12 United Internet AG - Company Presentation H1 2025
Slide 13: Business Access: EBITDA
“BUSINESS ACCESS”: EBITDA (acc. to IFRS in € million) 100 ▪ + 2.2% EBITDA to € 80.4 million including 78.7 80.4 +1.7 80 ▪ € - 12.0 million start-up costs (prior year: € - 16.4 (+2.2%) million) in the new business areas “5G” and “expansion 60 of commercial areas” 40 ▪ 28.0% EBITDA margin (prior year:
Slide 14: Applications
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: 41.97 mil
Slide 15: Consumer Applications: Segment Highlights
“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 mo
Slide 16: Consumer Applications: Accounts
“CONSUMER APPLICATIONS”: ACCOUNTS (in million) Free accounts Pay accounts 50 ▪ 41.75 million consumer accounts (- 220,000) 41.97 41.75 -0.22 40 ▪ 38.57 million free accounts (- 360,000) in particular due to seasonal effects 30 ▪ 3.18 million pay accounts (+ 140,000) 38.93 38.57 20 +90,000 accounts y
Slide 17: Consumer Applications: Revenues
“CONSUMER APPLICATIONS”: REVENUES (acc. to IFRS in € million) 148.9 +4.5 150 144.4 (+3.1%) ▪ + 3.1% revenues to € 148.9 million 100 50 0 H1 2024(1) H1 2025(1) (1) w/o revenues contributions of € 11.2 million from Energy (prior year: € 13.4 million Energy and De-Mail) 17 United Internet AG - Company
Slide 18: Consumer Applications: EBITDA
“CONSUMER APPLICATIONS”: EBITDA (acc. to IFRS in € million) 60 53.9 53.9 0.0 (0.0%) ▪ EBITDA unchanged at € 53.9 million ▪ 36.2% EBITDA margin (prior year: 37.3%) 40 20 0 H1 2024(1) H1 2025(1) (1) w/o earnings contributions of € +1.2 million from Energy (prior year: € -0.7 million Energy and De-Mail
Slide 19: Business Applications: Segment Highlights
2025 2024 (4 th time in a row) “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 best-i
Slide 20: Business Applications: Customer Contracts
“BUSINESS APPLICATIONS”: CUSTOMER CONTRACTS (in million) Abroad Domestic 10 9.59 9.80 +0.21 ▪ 9.80 million customer contracts (+ 210,000) 8 4.96 5.09 ▪ 5.09 million abroad (+ 130,000) 6 ▪ 4.71 million domestic (+ 80,000) 4 4.63 4.71 2 0 31.12.2024 30.06.2025 20 United Internet AG - Company Presentat
Slide 21: Business Applications: Revenues
“BUSINESS APPLICATIONS”: REVENUES (acc. to IFRS in € million) ▪ + 19.1% revenues to € 895.0 million 895.0 900 +143.4 ▪ Customer growth 751.6 (+19.1%) 750 ▪ Increased up- and cross-selling 600 ▪ Strong growth in the AdTech segment 450 300 150 0 H1 2024 H1 2025 21 United Internet AG - Company Presenta
Slide 22: Business Applications: EBITDA
“BUSINESS APPLICATIONS”: EBITDA (acc. to IFRS in € million) 270 258.4 ▪ + 24.6% EBITDA to € 258.4 million +51.0 225 207.4 (+24.6%) ▪ 28.9% EBITDA margin (prior year: 27.6%) 180 135 90 45 0 H1 2024 H1 2025 22 United Internet AG - Company Presentation H1 2025
Slide 23: IONOS Leading Partner for SMB Digitalization in Europe
IONOS IS THE LEADING PARTNER FOR SMB DIGITALIZATION IN EUROPE WITH A BROAD STRATEGIC FOOTPRINT AND LEADING LOCAL BRANDS IONOS footprint in 18 markets & local brand champions Webhosting market share in Europe (%)* 1 Sweden Germany 1 Europe overall* >2x UK Spain 1 Netherlands Poland Canada Germany Aus
Slide 24: Large and Fast-Growing Market Driven by Secular Trends
LARGE AND FAST-GROWING MARKET DRIVEN BY SECULAR TRENDS Large and untapped IONOS addressable market 15-26***, €bn SMB core target group* >90mm 89 19% CAGR SMBs in North America and Europe 15% CAGR 55 38 15 ~58mm 16 3 22 34 SMBs across Europe 14 2015A 2021A 2026F ~6.3mm CAGR 15–21 21–26 IONOS customer
Slide 25: Comprehensive Product Portfolio, First Class Customer Care and Infrastructure
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 for
Slide 26: IONOS One-Stop-Shop Portfolio Enables End-to-End Digitisation Journey
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 present yo
Slide 27: Results H1 2025
RESULTS H1 2025 27 United Internet AG - Company Presentation H1 2025
Slide 28: Group: Key Figures as of June 30, 2025
GROUP: KEY FIGURES AS OF JUNE 30, 2025 P&L figures according to IFRS in € million H1 2024 (1) H1 2025 (2) Change Fee-based customer contracts (in million) 28.76 29.31 Ad-financed free accounts (in million) 38.75 38.57 ▪ - 0.18m (Pay accounts: + 0.27m) Revenues 3,099.9 3,231.7 ▪ + 4.3% ▪ + 2.0% despi
Slide 29: Group: EBITDA / Free Cash Flow Bridge as of June 30, 2025
GROUP: EBITDA / FREE CASH FLOW BRIDGE AS OF JUNE 30, 2025 (acc. to IFRS in € million) 675.6 -295.1 -110.0 -51.2 -113.5 105.8 -80.7 25.1 EBITDA Capex Phasing effects Tax Working Capital Free Cashflow Leasing Free Cashflow H1 2025(1) (net) from Q4 2024 & others H1 2025 after Leasing H1 2025 (1) w/o En
Slide 30: Outlook 2025
OUTLOOK 2025 30 United Internet AG - Company Presentation H1 2025
Slide 31: Outlook 2025
OUTLOOK 2025 (1) We confirm our guidance ▪ Revenues: approx. € 6.45 billion (2024: € 6.303 billion) ▪ EBITDA: approx. € 1.35 billion (2024: € 1.295 billion), including approx. € - 20 million due to the change of national roaming provider at 1&1 – no impact on EBIT (2) ▪ Cash-CAPEX: approx. € 800 mil
Slide 32: Share and Dividend
SHARE AND DIVIDEND 32 United Internet AG - Company Presentation H1 2025
Slide 33: Share Price Development and Shareholder Structure
SHARE PRICE DEVELOPMENT AND SHAREHOLDER STRUCTURE 60 € € 59.80 (ATH: 09.01.2018) 50 € € 25.88 (07.08.2025) Key Share Facts & Figures: ▪ ISIN: DE0005089031 40 € ▪ WKN: 508903 € 2.77 (24.03.1998) 30 € ▪ Stock Exchange: Xetra 2008: Financial crisis 20 € ▪ Index: MDAX, TecDAX 2002: Dotcom bubble bursts
Slide 34: Shareholder Return
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 of
Slide 35: Investor Relations Contact
INVESTOR RELATIONS CONTACT DOMINIC GROSSMANN VOTING RIGHTS* Head of Investor Relations United Interent AG Phone: +49 2602 / 96-1671 Elgendorfer Straße 57 E-Mail: dgrossmann@united-internet.de D-56410 Montabaur E-Mail: voting-rights@united-internet.de * Please use the provided email address for share
Slide 36: United Internet AG: Our success story continues!
UNITED INTERNET AG Our success story continues! 36 United Internet AG - Company Presentation H1 2025
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