United Internet Ag · XETR:UTDI
United Internet — FY2025 Earnings Presentation
39 slides from United Internet's earnings presentation, March 2026
Slide 1: United Internet AG Company Presentation (12M 2025)
UNITED INTERNET AG Company Presentation (12M 2025) 1 United Internet AG - Company Presentation 12M 2025
Slide 2: Group: KPIs in Fiscal Year 2025
GROUP: KPIs IN FISCAL YEAR 2025 ▪ + 700,000 customer contracts to 29.72 million contracts Revenue and earnings figures (in € million) 2024 (1) 2025 (1) Change Revenues (2) 5,990.8 6,103.8 + 1.9% EBITDA (2) 1,251.6 1,282.0 + 2.4% EBIT (2) 596.8 585.3 - 1.9% EPS (in €) (2) 0.86 1.23 + 43.0% ▪ Included
Slide 3: Agenda
AGENDA I. Group Overview & Investment Case II. Business Area Access III. Business Area Applications (Consumer & Business) IV. Financial results & Outlook V. ESG & Rankings 3 United Internet AG - Company Presentation 12M 2025
Slide 4: United Internet's Attractive Investment Case
I. UNITED INTERNET‘S ATTRACTIVE INVESTMENT CASE ACCESS (~ 4,700 FTE‘S) APPLICATIONS (~ 5,200 FTE‘S) Europe’s most modern 5G mobile network, based on innovative IONOS is the largest web hosting provider in Europe with 100% Operating EBITDA* Open RAN technology by 1&1, boosts future operating margins
Slide 5: Group Structure
I. GROUP STRUCTURE (as of March, 2026) Business Areas Minority Investments 86.46% Access Applications 100% 100% 100% 63.84% Consumer & Small Business Enterprises & Networks Consumer Applications Business Applications 31.52% 25.39% * 17.58% 25.10 ** 4.60% 20.00% * Held indirectly through 63.84 % stak
Slide 6: Access
II. ACCESS* Consumer Access Business Access ▪ Revenues: € 4,095.9 million ▪ Revenues: € 586.7 million ▪ EBITDA: € 521.5 million ▪ EBITDA: € 167.2 million ▪ Profitability: 12.7% EBITDA margin ▪ Profitability: 28.5% EBITDA margin ▪ FTE: ~ 3,050 ▪ FTE: ~ 1,600 ▪ Total contracts: 16.32 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: Customer Contracts
II. CONSUMER ACCESS: CUSTOMER CONTRACTS (in million) Mobile Internet Broadband connection 20 16.39 16.32 ▪ 16.32 million customer contracts (- 70,000) -0.07 15 ▪ 3.84 million broadband connections (- 110,000) ▪ 12.48 million mobile internet contracts (+ 40,000) 10 12.44 12.48 5 3.95 3.84 0 2024 2025
Slide 9: Consumer Access: Revenues
II. CONSUMER ACCESS: REVENUES (acc. to IFRS in € million) Service revenues Other revenues (mainly hardware) 4,500 ▪ + 0.8% revenues to € 4.096 billion 4,064.3 4,095.9 +31.6 4,000 (+0.8%) ▪ + 0.1% service revenues to € 3.307 billion 3,500 3,000 ▪ + 3.7% other revenues (in particular smartphones) 2,50
Slide 10: Consumer Access: Total EBITDA (I)
II. CONSUMER ACCESS: TOTAL EBITDA (I) (acc. to IFRS in € million) 600 590.8 -69.3 521.5 (-11.7%) 500 ▪ - 11.7% EBITDA to € 521.5 million, including ▪ € - 265.3 million costs for rollout of 1&1 mobile network 400 (prior year: € - 265.3 million) 300 ▪ 12.7% EBITDA margin (prior year: 14.5%) 200 100 0
Slide 11: Consumer Access: EBITDA of the Two Subsegments (II)
II. CONSUMER ACCESS: EBITDA OF THE TWO SUBSEGMENTS (II) (acc. to IFRS in € million) EBITDA “Access” “Access” 1,000 856.1 ▪ - 8.1% EBITDA to € 786.8 million in particular as a result of 786.8 -69.3 800 (-8.1%) the change in roaming partner (no impact on EBIT, as costs 600 400 in the agreement with Te
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: Revenues
II. BUSINESS ACCESS: REVENUES (acc. to IFRS in € million) 600 574.9 586.7 +11.8 (+2.1%) 500 ▪ + 2.1% revenues to € 586.7 million 400 300 200 100 0 2024 2025 13 United Internet AG - Company Presentation 12M 2025
Slide 14: Business Access: EBITDA
II. BUSINESS ACCESS: EBITDA (acc. to IFRS in € million) 180 165.1 167.2 +2.1 ▪ + 2.1% EBITDA to € 167.2 million, thereof 160 (+1.3%) 140 ▪ € - 15.4 million start-up costs (prior year: € - 21.6 million) 120 in the new business areas “5G” and “expansion of 100 commercial areas” 80 ▪ 28.5% EBITDA margi
Slide 15: Applications
III. APPLICATIONS* Consumer Applications Business Applications ▪ Revenues: € 322.6 million ▪ Revenues: € 1,316.9 million ▪ EBITDA: € 123.1 million ▪ EBITDA: € 464.1 million ▪ Profitability: 38.2% EBITDA margin ▪ Profitability: 35.2% EBITDA margin ▪ FTE: ~ 1,100 ▪ FTE: ~ 4,100 ▪ Total contracts: 42.0
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 that is profitable (~38% Subscription revenues anchored by high single digit growth in m
Slide 17: Consumer Applications: Accounts
III. CONSUMER APPLICATIONS: ACCOUNTS (in million) Free accounts Pay accounts 50 41.97 42.03 40 +0.06 ▪ 42.03 million consumer accounts (+ 60,000) ▪ 38.68 million free accounts (- 250,000) 30 ▪ 3.35 million pay accounts (+ 310,000) 38.93 38.68 20 10 3.04(1) 3.35 0 2024 2025 (1) Excluding accounts for
Slide 18: Consumer Applications: Revenues
III. CONSUMER APPLICATIONS: REVENUES (acc. to IFRS in € million) 350 322.6 298.3 +24.3 ▪ + 8.1% revenues to € 322.6 million 300 (+8.1%) ▪ Higher monetization of free accounts through online 250 advertising 200 ▪ Strong growth in pay accounts 150 100 50 0 2024 (1) 2025 (1) (1) Excluding revenue contr
Slide 19: Consumer Applications: EBITDA
III. CONSUMER APPLICATIONS: EBITDA (acc. to IFRS in € million) 140 123.1 ▪ + 8.7% EBITDA to € 123.1 million 120 113.2 +9.9 (+8.7%) ▪ 38.2% EBITDA margin (prior year: 37.9%) 100 80 60 40 20 0 2024(1) 2025(1) (1) Excluding earnings contributions / net sales proceeds € +7.8 million from Energy (prior y
Slide 20: Business Applications: Segment Highlights
2025 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 best-in-class level of ~1% pe
Slide 21: Business Applications: Customer Contracts
III. BUSINESS APPLICATIONS: CUSTOMER CONTRACTS (in million) Abroad Domestic 12 ▪ 10.05 million customer contracts (+ 460,000) 10.05 10 9.59 +0.46 ▪ 5.25 million abroad (+ 290,000) 8 4.96 5.25 ▪ 4.80 million domestic (+ 170,000) 6 4 4.63 4.80 2 0 2024 2025 21 United Internet AG - Company Presentation
Slide 22: Business Applications: Revenues
III. BUSINESS APPLICATIONS: REVENUES (acc. to IFRS in € million) 1,400 1,316.9 ▪ + 5.5% revenues to € 1.317 billion 1,248.1 +68.8 (+5.5%) 1,200 ▪ Customer growth 1,000 ▪ Increased Up- and Cross-Selling 800 600 400 200 0 2024(1) 2025(1) (1) Sedo carried in accordance with IFRS 5 as discontinued opera
Slide 23: Business Applications: EBITDA
III. BUSINESS APPLICATIONS: EBITDA (acc. to IFRS in € million) 500 464.1 ▪ + 19.8% EBITDA to € 464.1 million +76.7 400 387.4 (+19.8%) ▪ 35.2% EBITDA margin (prior year: 31.0%) 300 200 100 0 2024 (1) 2025 (1) (1) Sedo carried in accordance with IFRS 5 as discontinued operation as of September 30, 202
Slide 24: Business Applications: Segments and Products
III. BUSINESS APPLICATIONS: SEGMENTS AND PRODUCTS Web Presence & Productivity Cloud Solutions One-stop-shop for all digitalization needs of € 1,086 million* Trusted European cloud provider € 187 million* SMBs and solo entrepreneurs Revenue (83%) for SMBs and enterprises Revenue (14%) Domains E-mail
Slide 25: Business Applications: IONOS One-Stop-Shop Portfolio
III. BUSINESS APPLICATIONS: 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
Slide 26: Business Applications: AI Receptionist & AI Momentum
III. BUSINESS APPLICATIONS: AI RECEPTIONIST & AI MOMENTUM 26 United Internet AG - Company Presentation 12M 2025
Slide 27: IV. Results 12M 2025
IV. RESULTS 12M 2025 27 United Internet AG - Company Presentation 12M 2025
Slide 28: Group: Key Figures as of December 31, 2025
GROUP: KEY FIGURES AS OF DECEMBER 31, 2025 P&L figures according to IFRS in € million 2024 (1) 2025 (1) Change Fee-based customer contracts (in million) 29.02 29.72 ▪ + 0.7 million Ad-financed free accounts (in million) 38.93 38.68 ▪ - 0.25 million (pay accounts: + 0.31 million) Revenues (2) 5,990.8
Slide 29: Group: EBITDA / Free Cash Flow Bridge
IV. GROUP: EBITDA / FREE CASH FLOW BRIDGE AS OF DECEMBER 31, 2025 (acc. to IFRS in € million) Fiscal year 2025 1,289.8 31.8 -728.5 -91.9 508.3 7.1 -187.6 320.6 EBITDA EBITDA Capex Tax Working Capital Free CF Leasing Free CF AL 2025(1) AdTech (2) (net) & others 2025 2025 Fiscal year 2024 1,250.9 43.1
Slide 30: IV. Outlook 2026
IV. OUTLOOK 2026 30 United Internet AG - Company Presentation 12M 2025
Slide 31: IV. Outlook 2026
IV. OUTLOOK 2026 ▪ Revenues: approx. € 6.25 billion (2025: € 6.104 billion) ▪ EBITDA: approx. € 1.45 billion (2025: € 1.282 billion) ▪ Cash-CAPEX: € 600 – 650 million (2025: € 730.8 million) ▪ New segmentation within the “Access” business area following the sale of 1&1 Versatel to 1&1 in 2025 ▪ Sinc
Slide 32: IV. Share and Dividend
IV. SHARE AND DIVIDEND 32 United Internet AG - Company Presentation 12M 2025
Slide 33: Share Price Development and Shareholder Structure
IV. SHARE PRICE DEVELOPMENT AND SHAREHOLDER STRUCTURE 60 € € 59.80 (ATH: 09.01.2018) 50 € € 26.34 (13.03.2026) Key Share Facts & Figures: ▪ ISIN: DE0005089031 40 € ▪ WKN: 508903 30 € € 2.77 (24.03.1998) ▪ Stock Exchange: Xetra 2008: Financial crisis ▪ Index: MDAX, TecDAX 20 € 2002: Dotcom bubble bur
Slide 34: 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 35: V. Sustainability
V. SUSTAINABILITY 35 United Internet AG - Company Presentation 12M 2025
Slide 36: ESG at a Glance @United Internet
V. ESG AT A GLANCE @UNITED INTERNET Climate Circular economy Social commitment Cybersecurity 10-30% 1,036 t > €75m 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 successful
Slide 37: ESG Ratings 2025
V. ESG RATINGS 2025 C 2 27.2 Medium Risk TRANSPARENCY PRIME THRESHOLD 1 Negligible Low Medium High Severe VERY HIGH C+ 0-10 10-20 20-30 30-40 40+ 0 Our Focus: Environmental & Social Performance Our Focus: Maintaining leadership in Governance Our Focus: Reducing exposure to ESG risks 85% share of ren
Slide 38: Investor Relations Contact & Disclaimer
INVESTOR RELATIONS CONTACT & DISCLAIMER DOMINIC GROSSMANN VOTING RIGHTS* Head of Investor Relations ▪ United Internet 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 39: Our success story continues!
UNITED INTERNET AG Our success story continues! 39 United Internet AG - Company Presentation 12M 2025