United Internet Ag · XETR:UTDI

United Internet — FY2023 Earnings Presentation

32 slides from United Internet's earnings presentation, Mar 21, 2024

  1. Slide 1: Fiscal year 2023 and outlook 2024

    UNITED INTERNET AG Fiscal year 2023 and outlook 2024 Frankfurt/Main, March 21, 2024 1 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  2. Slide 2: Agenda

    AGENDA Ralph Dommermuth Company development Outlook 2024 Ralf Hartings FY 2023 results 2 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  3. Slide 3: Company development

    COMPANY DEVELOPMENT 3 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  4. 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. 3,800 in product management, development and data centers Powerful network infrastructure  61,000 km of fiber network  5G mobile network > 100,000 s

  5. Slide 5: Brands & Investments

    BRANDS & INVESTMENTS (as of December 31, 2023) Consumer Access Business Consumer Applications Business Minorities 20.00 % 25.39 % 31.52 % 16.02 %* 38.00 %** 25.10 % * Held indirectly through a 63.84 % stake in IONOS Group SE ** Held indirectly through a 40.00 % stake in Kublai GmbH 5 Fiscal year 202

  6. Slide 6: Access in fiscal year 2023

    ACCESS IN FISCAL YEAR 2023  CONSUMER ACCESS  CONSUMER APPLICATIONS  BUSINESS ACCESS  BUSINESS APPLICATIONS 6 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  7. Slide 7: Consumer Access

    „CONSUMER ACCESS“ Fixed-line  1&1 with 4.01 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  12.25 million mobile contracts  First Open RAN in Europa  Launch of mobile services

  8. Slide 8: Consumer Access segment: customer contracts

    CONSUMER ACCESS SEGMENT: CUSTOMER CONTRACTS (in million) Mobile Internet Broadband connections  16.26 million customer contracts (+ 480,000) 20 16.26  12.25 million mobile internet contracts (+ 570,000) 15.78 +0.48 15  4.01 million broadband connections ADSL / VDSL / FTTH (- 90,000) 10 11.68 12.2

  9. Slide 9: Consumer Access segment: revenues

    CONSUMER ACCESS SEGMENT: REVENUES (acc. to IFRS in € million) Service revenues Other revenues (mainly hardware) 4,500 4,096.7  + 3.4 % revenues to € 4.097 billion 3,963.7 +133.0 4,000 (+3.4%) 3,500  + 2.1 % service revenues to € 3.243 billion 3,000  + 8.3 % other revenues (in particular smartphon

  10. Slide 10: Consumer Access (I): EBITDA total

    CONSUMER ACCESS (I): EBITDA TOTAL (acc. to IFRS in € million) 693.3 700 -39.5 653.8 (-5.7%) 600  - 5.7 % EBITDA to € 653.8 million, including 500  € - 132.4 million costs for rollout of 1&1 mobile network 400 (prior year: € - 52.4 million) 300  16.0 % EBITDA margin (prior year: 17.5 %) 200 100 0

  11. 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“ 745.7 786.2 +40.5 800 (+5.4%) „Access“ 600 400  + 5.4 % EBITDA to € 786.2 million 200  19.2 % EBITDA margin (prior year: 18.8 %) 0 2022 2023 EBITDA „1&1 Mobilfunknetz“ „1&1 Mobilfunknetz“ 0 -50  € - 13

  12. Slide 12: Business Access

    „BUSINESS ACCESS“  1&1 Versatel operates one of the largest German fixed-line infrastructures  Project business and plug-and-play solutions for SMB’s Gewerbe  Fiber-optic with 61,566 km FTTB  In over 350 German cities, including Behörden the 25 largest cities  25.626 directly connected location

  13. Slide 13: Business Access segment: revenues

    BUSINESS ACCESS SEGMENT: REVENUES (acc. to IFRS in € million) 600 564.0 543.4 +20.6 (+3.8%) 500  + 3.8 % revenues to € 564.0 million 400 300 200 100 0 2022 2023 13 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  14. Slide 14: Business Access segment: EBITDA

    BUSINESS ACCESS SEGMENT: EBITDA (acc. to IFRS in € million) 180 162.9 +8.8  + 5.7 % EBITDA to € 162.9 million 160 154.1 (+5.7%) 140  28.9 % EBITDA margin (prior year: 28.4 %) 120 100 80 60 40 20 0 2022 2023 14 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  15. Slide 15: Applications in fiscal year 2023

    APPLICATIONS IN FISCAL YEAR 2023  CONSUMER ACCESS  CONSUMER APPLICATIONS  BUSINESS ACCESS  BUSINESS APPLICATIONS 15 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  16. Slide 16: Consumer Applications

    CONSUMER APPLICATIONS  One of the leading providers of consumer applications with GMX, WEB.DE and mail.com  Broad product portfolio for private customers: Communication Online office and organization texts, spreadsheets, Personal information management (e-mail, tasks, presentations E-mail, calenda

  17. Slide 17: Consumer Applications segment: accounts

    CONSUMER APPLICATIONS SEGMENT: ACCOUNTS (in million) Free-Accounts Pay-Accounts 50 42.95 42.77 -0.18  42.77 million consumer accounts (- 180,000), thereof 40  39.93 million free accounts (- 380,000) 30  2.84 million pay accounts (+ 200,000) 40.31 39.93 20  28.5 million with mobile usage (+ 500,0

  18. Slide 18: Consumer Applications segment: revenues

    CONSUMER APPLICATIONS SEGMENT: REVENUES (acc. to IFRS in € million) 350 304.3 300 288.6 +15.7  + 5.4 % revenues to € 304.3 million (+5.4%) 250 200 150 100 50 0 2022 2023 18 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  19. Slide 19: Consumer Applications segment: EBITDA

    CONSUMER APPLICATIONS SEGMENT: EBITDA (acc. to IFRS in € million) 120 109.8 104.4 +5.4  + 5.2 % EBITDA to € 109.8 million (+5.2%) 100  36.1 % EBITDA margin (prior year: 36.2 %) 80 60 40 20 0 2022(1) 2023(1) (1) excl. a non-cash valuation effect from derivatives EBITDA effect: € -6.3 million (prior

  20. Slide 20: Business Applications

    BUSINESS APPLICATIONS  IONOS as Europe's leading digitization partner for freelancers, small/medium-sized enterprises and reliable cloud enabler  Active in 15 European countries as well as in USA, Canada and Mexico  Broad product portfolio from Web Presence & Productivity to Cloud Solutions 20 Fi

  21. Slide 21: Business Applications segment: customer contracts

    BUSINESS APPLICATIONS SEGMENT: CUSTOMER CONTRACTS (in million) Abroad Domestic 10 9.39 9.04 +0.35  9.39 million customer contracts (+ 350,000) 8  4.80 million abroad (+ 190,000) 4.61 4.80 6  4.59 million domestic (+ 160,000) 4 2 4.43 4.59 0 31.12.2022 31.12.2023 21 Fiscal year 2023 & Outlook 2024

  22. Slide 22: Business Applications segment: revenues

    BUSINESS APPLICATIONS SEGMENT: REVENUES (acc. to IFRS in € million) 1,500 1,423.7 1,350 1,293.0 +130.7  + 10.1 % revenues to € 1.424 billion (+10.1%) 1,200  Customer growth 1,050 900  Increased up- and cross-selling 750  Good aftermarket business 600 450 300 150 0 2022 2023 22 Fiscal year 2023 &

  23. Slide 23: Business Applications segment: EBITDA

    BUSINESS APPLICATIONS SEGMENT: EBITDA (acc. to IFRS in € million) 405 373.7 360 +44.5  + 13.5 % EBITDA to € 373.7 million 329.2 (+13.5%) 315  26.2 % EBITDA margin (prior year: 25.5 %) 270 225 180 135 90 45 0 2022 (1) 2023 (1) (1) Adjusted for IPO costs of € +11.7 million (prior year: € -8.8 millio

  24. Slide 24: Group: KPIs FY 2023

    GROUP: KPIs FY 2023  + 1.03 million customer contracts to 28.49 million contracts Revenue and earnings figures (in € million) 2022 (1) 2023 (2) Change Revenues 5,915.1 6,213.2 + 5.0 % EBITDA 1,271.8 1,300.1 + 2.2 % EBIT 790.7 762.0 - 3.6 % EPS (in €) 2.00 1.41 - 29.5 %  Included in EBITDA 2023: 

  25. Slide 25: Outlook 2024

    OUTLOOK 2024 25 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  26. Slide 26: Outlook 2024

    OUTLOOK 2024 We confirm our outlook published at the end of 2023:  Revenues: approx. € 6.5 billion (2023: € 6.213 billion)  EBITDA (operative): approx. € 1.42 billion (2023: € 1.300 billion)  Cash-CAPEX: 10 - 20% above the previous year's figure (2023: € 756 million), in particular for  building

  27. Slide 27: Results FY 2023

    RESULTS FY 2023 27 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

  28. Slide 28: Group: Key figures as of December 31, 2023

    GROUP: KEY FIGURES AS OF DECEMBER 31, 2023 P&L figures according to IFRS in € million 2022 (1) 2023 (2) Change Fee-based customer contracts (in million) 27.46 28.49  + 1.03 million Ad-financed free accounts (in million) 40.31 39.93  - 0.38 million (pay accounts: +0.20 milllion) Revenues 5,915.1 6,

  29. Slide 29: Group: EBITDA / Free cashflow bridge as of December 31, 2023

    GROUP: EBITDA / FREE CASHFLOW BRIDGE AS OF DEZEMBER 31, 2023 (acc. to IFRS in € million) 1,300.1 -8.0 -792.1 -240.7 -276.5 36.4 53.6 -121.3 -85.0 EBITDA Special items Capex Tax Contingent Working Capital Free Cashflow Leasing Free Cashflow 2023 (netto) payment & others 2023 after leasing 29 Fiscal y

  30. Slide 30: Group: Balance sheet as of December 31, 2023 (I)

    GROUP: BALANCE SHEET AS OF DECEMBER 31, 2023 (I) (acc. to IFRS in € million) Assets 31.12.2022 31.12.2023 Comments  Strong increase due to increased investments in FY 2023 Property, plant and equipment / intangible assets 3,880.3 4,406.9 (primarily in the fibre optic/mobile network) Goodwill 3,623.

  31. Slide 31: Group: Balance sheet as of December 31, 2023 (II)

    GROUP: BALANCE SHEET AS OF DECEMBER 31, 2023 (II) (acc. to IFRS in € million) Debt and Equity 31.12.2022 31.12.2023 Comments Equity 5,298.4 5,555.1  Equity ratio: - 1.8 PP to 49.4 %  Bank liabilities (net): € 2,436.6m (31.12.2022: € 2,115.0m); increase in particular due to DT Liabilities to banks

  32. Slide 32: United Internet AG

    UNITED INTERNET AG Our success story continues! 32 Fiscal year 2023 & Outlook 2024 Frankfurt/Main, March 21, 2024

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