Freenet Ag Unsp/Adr (FRTAY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Thanks for joining today's call. Highly traditional, I'm going to start with some qualitative assessment of the last quarter, and Ingo will then go into financial details, followed by hopefully interesting Q&A. Page number one, we believe this is a good start into the year. We call it the sound start. with solid key financials revenues grow as expected adjusted EBITDA on mobile is stable whereas the TV and media is growing significantly we'll comment on that in a second and free cash flow is also in line with the guidance and our internal planning on the pure operational KPIs customer growth in both segments is okay I think that is definitely to the point where everybody was maybe a bit disappointed. I'm not at all disappointed, to be honest, because I think all the entire market has seen a little fatigue. We have all seen uncertainties in German consumption, private consumption during this first quarter, the new elections, the building of the new Regierung and government staff, I think that all led to uncertainties that we also see. And we have therefore consequently taken out money off the market. I think that was the key. Ingo will explain a bit more. We took out money out of the market with our offers. Obviously, you can see it immediately because it then expanded over 24 months. But that's what we did. So we did on purpose. take down the numbers a little bit going. One step deeper, let me start with mobile. You can see that post-pay growth is 53,000 units. It's almost tripled from previous year. So we are no doubt expanding and building up on our new tariffs, but also on our new agreements with Telefonica, Vodafone and DT. But still, we are reluctant to overpay. We see very strong performance in Mediamarkt Saturn. We see very strong perf...