Successful first six months of 2013 for United Internet
- Sales up 10.3% to new all-time high of EUR 1.283 billion
- EBITDA grows 17.8% to EUR 175.1 million
- EPS improves 34.4% to EUR 0.43
- Customer forecast for full year 2013 increased, sales and earnings expectations confirmed
Montabaur, August 14, 2013. United Internet AG has continued its growth course as Europe’s leading internet specialist in the first six months of 2013. There were further strong improvements in sales, the number of customer contracts and key earnings ratios. At the same time, the company once again invested heavily in the establishment and development of new business fields in order to tap sustainable growth potential for the future.
Development of the Group
In the first six months of 2013, consolidated sales of United Internet AG were increased to EUR 1.283 billion – representing year-on-year growth of 10.3%.
There was also a sharp rise in United Internet’s customer figures in the first half of 2013: with the addition of 660,000 contracts to 12.7 million customer contracts, the company even surpassed its strong growth of the first half-year 2012 (610,000 contracts).
With further heavy investments in new business fields – albeit at a lower level thanks to rising customer figures – (EBITDA-effective start-up losses of EUR 61.8 million in the first half of 2013 compared to EUR 72.7 million in the previous year), United Internet also succeeded in significantly improving its earnings figures: earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 17.8%, from EUR 148.6 million last year to EUR 175.1 million. Earnings before interest and taxes (EBIT) climbed 24.8%, from EUR 103.7 million in the previous year (comparable prior-year figure without Sedo impairment charges) to EUR 129.4 million. Earnings per share (EPS) improved by 34.4%, from EUR 0.32 to EUR 0.43.
Free cash flow underlines the entire Group’s ability to generate very healthy levels of cash – while at the same time achieving strong qualitative growth. Despite consistently high investments in new business fields and very strong customer growth, this figure remained high at EUR 82.9 million.
| Group development (in EUR million) | Jan. - June 2013 | Jan. - June 2012 | Change |
|---|---|---|---|
| Sales | 1,283.0 | 1,163.5 | + 10.3 % |
| EBITDA | 175.1 | 148.6 | +17.8 % |
| EBIT | 129.4 | 103.7 | + 24.8 % |
| EPS (in EUR) | 0.43 | 0.32 | + 34.4 % |
* Without negative special items (Sedo impairment charges) of Q2 2012: EBIT effect: EUR -46.3 million; EPS effect: EUR -0.24
“With the figures for customer contracts, sales and earnings reached in the first six months of 2013, we are well on course,” commented Ralph Dommermuth, CEO of United Internet, and added: “Against this backdrop, we increase our customer forecast for the full year 2013. We now expect a number of approximately 1.1 million new contracts, which means 100,000 contracts more than previously estimated. Despite the associated higher marketing and sales spending, the sales and earnings guidance is unchanged.”