United Internet Ag · XETR:UTDI
United Internet — H1 2025 Earnings Presentation
32 slides from United Internet's earnings presentation, Aug 7, 2025
Slide 1: United Internet AG H1 2025
UNITED INTERNET AG H1 2025 Frankfurt/Main, August 7, 2025 1 H1 2025 Frankfurt/Main, August 7, 2025
Slide 2: Agenda
AGENDA Ralph Dommermuth Company development Outlook 2025 Carsten Theurer Results H1 2025 2 H1 2025 Frankfurt/Main, August 7, 2025
Slide 3: Company Development
COMPANY DEVELOPMENT 3 H1 2025 Frankfurt/Main, August 7, 2025
Slide 4: United Internet with business areas: Access & Applications
UNITED INTERNET WITH 2 BUSINESS AREAS: ACCESS & APPLICATIONS ACCESS APPLICATIONS Consumer Access Consumer Applications Motivated Team ▪ Around 10,800 employees, of which approx. 4,000 in product management, development and data centers Powerful network infrastructure ▪ 67,000 km of fiber network ▪ 5
Slide 5: Brands & Investments
BRANDS & INVESTMENTS (as of June 30, 2025) 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 2025 Frankfurt/Mai
Slide 6: "Access" in H1 2025
“ACCESS“ IN H1 2025 ▪ CONSUMER ACCESS ▪ CONSUMER APPLICATIONS ▪ BUSINESS ACCESS ▪ BUSINESS APPLICATIONS 6 H1 2025 Frankfurt/Main, August 7, 2025
Slide 7: "Consumer Access"
“CONSUMER ACCESS“ Fixed-line ▪ 1&1 with 3.89 million broadband connections ▪ VDSL and FTTH complete packages incl. voice and IP-TV via 1&1 Versatel, with last mile provided by Deutsche Telekom and regional carriers (as e.g. Deutsche Glasfaser, Glasfaser Nordwest, M-Net, NetCologne, OXG, Westconnect,
Slide 8: "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 9: "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 10: "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 1
Slide 11: "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 12: "Business Access"
„BUSINESS ACCESS“ ▪ 1&1 Versatel operates one of the largest German fiberoptic networks ▪ Project business and plug-and-play solutions for medium-sized companies Businesses ▪ 67,221 km of fiber optic network FTTB ▪ In more than 350 German cities including the Authorities 25 largest cities ▪ 28,753 d
Slide 13: "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 13 H1 2025 Frankfurt/Main, August 7, 2025
Slide 14: "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 15: "Applications" in H1 2025
“APPLICATIONS” IN H1 2025 ▪ CONSUMER ACCESS ▪ CONSUMER APPLICATIONS ▪ BUSINESS ACCESS ▪ BUSINESS APPLICATIONS 15 H1 2025 Frankfurt/Main, August 7, 2025
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 Personal Information Management (e-mail, and organization tasks, appointments, addresses), cloud storage and off
Slide 17: "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 18: "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) 18 H1 2025 Frankfurt/Main, Augus
Slide 19: "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 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 digital solutions to cloud infrastructure t
Slide 21: "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 21 H1 2025 Frankfurt/Main, August 7, 2025
Slide 22: "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 22 H1 2025 Frankfurt/Main, August 7, 202
Slide 23: "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 23 H1 2025 Frankfurt/Main, August 7, 2025
Slide 24: 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 25: Outlook 2025
OUTLOOK 2025 25 H1 2025 Frankfurt/Main, August 7, 2025
Slide 26: 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 mill
Slide 27: Results H1 2025
RESULTS H1 2025 27 H1 2025 Frankfurt/Main, August 7, 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: Group: Balance Sheet as of June 30, 2025 (I)
GROUP: BALANCE SHEET AS OF JUNE 30, 2025 (I) (acc. to IFRS in € million) Assets 31.12.2024 30.06.2025 Comments ▪ Increase due to the investments made in 2025 (primarily in Property, plant and equipment / intangible assets 5,024.8 5,090.3 the fiber optic network and mobile network) Goodwill 3,632.7 3
Slide 31: Group: Balance Sheet as of June 30, 2025 (II)
GROUP: BALANCE SHEET AS OF JUNE 30, 2025 (II) (acc. to IFRS in € million) Debt and Equity 31.12.2024 30.06.2025 Comments ▪ Decrease due to dividend payment (€ - 328.4m), purchase of 1&1 shares (€ - 60.8m) and recognition of the public Equity 5,544.7 4,965.4 acquisition offer for 1&1 shares as per IA
Slide 32: Our success story continues!
UNITED INTERNET AG Our success story continues! 32 H1 2025 Frankfurt/Main, August 7, 2025