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freenet (FNTN) investor relations material
freenet Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
New CEO Robin Harries emphasizes agility, AI-driven strategy, and customer-centricity for future growth.
Company maintains strong market position in mobile and TV, with robust sales infrastructure and high cash generation.
Customer base grew by 161.4k to 10.31 million in H1 2025, driven by postpaid and waipu.tv subscriber growth.
Dividend of €1.97 per share paid, including a one-time effect from IP address sales; share buyback program launched.
CEO transition and management restructuring occurred in June 2025.
Financial highlights
H1 2025 revenues up 0.9% year-over-year to €1,213.1 million; gross profit up 3% to €482.3 million.
Adjusted EBITDA for H1 2025 reached €257.4 million (+0.5%); free cash flow up 5.2% to €159.0 million.
Gross margin remains high at 39.8%, up 0.8pp year-over-year.
Consolidated profit from continuing operations declined 23.2% to €125.7 million due to higher tax expenses.
Equity ratio at 44.1% and leverage at 1.1x EBITDA as of June 30, 2025.
Outlook and guidance
2025 guidance confirmed: adjusted EBITDA €520–540 million, free cash flow €300–320 million.
Mobile segment adj. EBITDA guidance: €420–440 million; TV/Media: €115–135 million.
Moderate postpaid customer growth and waipu.tv subscriber growth expected; postpaid ARPU guidance revised to moderate decrease.
2028 ambition: EBITDA ≥ €600 million, FCF ≥ €330 million, ~4% CAGR assumed.
EBITDA guidance for the full year expected to be met through cost optimizations and reduced marketing spend.
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