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UNITED INTERNET AG (FRA:UTDI) United Internet AG: Successful start to FY 2011 for United Internet

Directive transparence : information réglementée

12/05/2011 07:09
United Internet AG / Key word(s): Quarter Results 12.05.2011 07:09 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Sales up 7.7% to record figure of EUR 498.6 million - EBITDA maintains high prior-year level at EUR 90.5 million - Earnings per share (EPS) grow 17.6% to EUR 0.20 Montabaur, May 12, 2011. The Management Board of United Internet AG (ISIN DE0005089031) today announced the consolidated results according to IFRS for the first quarter of 2011. Group development Consolidated sales of United Internet AG grew by 7.7% in the first quarter of 2011, from EUR 462.8 million last year to EUR 498.6 million. United Internet also achieved strong growth in customer contracts: with the addition of 210,000 new contracts, growth easily exceeded the first quarter of 2010 (180,000 new contracts). Despite increased sales and marketing expenses in this connection of EUR 10.3 million compared to Q1/2010 and high costs for the development of new products, United Internet achieved very good earnings. With EBITDA of EUR 90.5 million (prior year: EUR 90.3 million) and EBIT of EUR 70.3 million (prior year: EUR 70.7 million), earnings reached the same high level as last year. Earnings before taxes (EBT) grew by 13.5% from EUR 57.1 million to EUR 64.8 million. Earnings per share (EPS) improved by 17.6% from EUR 0.17 to EUR 0.20.
Group development                       Q1 2010   Q1 2011   Change
Quarterly comparison (in EUR million)
Sales                                     462.8    498.6    + 7.7%
EBITDA                                     90.3     90.5    + 0.2%
EBIT                                       70.7     70.3    - 0.6%
EBT                                        57.1     64.8   + 13.5%
EPS (in EUR)                               0.17     0.20   + 17.6%
Development of business in the 'Access' segment As a result of the positive development in customer figures, Access sales grew by 6.8% to EUR 321.2 million. Due to increased costs for new customer acquisition, EBITDA and EBIT were slightly down on the previous year at EUR 31.1 million (prior year: EUR 31.7 million) and EUR 23.8 million (prior year: EUR 25.2 million).
Development of Access segment           Q1 2010   Q1 2011   Change
Quarterly comparison (in EUR million)                                      
Sales                                     300.8     321.2   + 6.8%
EBITDA                                     31.7      31.1   - 1.9%
EBIT                                       25.2      23.8   - 5.6%
The number of fee-based Access contracts grew by a total of 80,000 contracts, from 3.63 million as of December 31, 2010 to 3.71 million as of March 31, 2011.
Customer contracts in Access segment  March 31,     Dec. 31,    March 31,
(in million)                               2010         2010         2011
Access, total                              3.50         3.63         3.71
of which DSL complete (ULL)                1.91         2.32         2.37
of which Mobile Internet                   0.09         0.27         0.37
of which narrowband / T-DSL / R-DSL        1.50         1.04         0.97
Development of business in the 'Applications' segment Applications sales grew strongly by 9.6% to EUR 177.3 million. Despite high expenditure for the development of new Cloud products, preparations for the De-Mail roll-out, and increased sales and marketing expenses, segment EBITDA was only slightly down on the previous year at EUR 58.9 million (prior year: EUR 60.5 million), while segment EBIT reached EUR 46.0 million (prior year: EUR 47.4 million).
Development of Applications segment      Q1 2010   Q1 2011   Change 
Quarterly comparison (in EUR  million)         
Sales                                      161.8     177.3   + 9.6%
EBITDA                                      60.5      58.9   - 2.6%
EBIT                                        47.4      46.0   - 3.0%
The number of fee-based Applications contracts grew by 130,000 to 6.26 million (of which 2.52 million abroad). Ad-financed accounts rose from 28.0 million to 28.3 million.
Customer contracts in Applications     March 31,    Dec. 31,    March 31,
segment  (in million)                       2010        2010         2011
Total fee-based contracts                   5.83        6.13         6.26
of which domestic                           3.53        3.68         3.74
of which foreign                            2.30        2.45         2.52
Ad-financed accounts                        27.0        28.0         28.3
Outlook Against the backdrop of its successful start to the fiscal year, United Internet confirms its forecast for 2011 and expects consolidated sales to exceed EUR 2 billion for the first time. Sales growth is expected to reach around 5% in the Access segment and around 10% in the Applications segment. The company aims to add a total of 700,000 new fee-based customer contracts in 2011. United Internet will continue to pursue its business strategy geared toward sustainable growth during the year and invest heavily in new business fields and customer growth. Despite the high costs associated with these projects, EBITDA in 2011 is expected to reach the level of 2010 (EUR 357.7 million). EBT is likely to be around EUR 250 million and EPS around EUR 0.80. 12.05.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: United Internet AG Elgendorfer Straße 57 56410 Montabaur Deutschland Phone: +49 (0)2602 / 96 - 1100 Fax: +49 (0)2602 / 96 - 1013 E-mail: info@united-internet.de Internet: www.united-internet.de ISIN: DE0005089031 WKN: 508903 Indices: TecDAX Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------