14.08.2019 1&1 Drillisch Aktiengesellschaft  DE0005545503

DGAP-Adhoc: 1&1 Drillisch AG - Success in HY1 2019


DGAP-Ad-hoc: 1&1 Drillisch Aktiengesellschaft / Key word(s): Half Year Results
1&1 Drillisch AG - Success in HY1 2019

14-Aug-2019 / 20:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

1&1 Drillisch AG - Success in HY1 2019

- Number of customer contracts grows by 380,000 to 13.92 million, plus 880,000 compared to previous year

- Revenues increase by 0.4% to EUR1.826 billion, service revenues by 3.4% to EUR1.471 billion

- EBITDA plus 0.1% to EUR340.4 million

Maintal, 14 August 2019 - 1&1 Drillisch AG (ISIN DE 0005545503) can look back on a successful first half of 2019. The Company was able to increase the number of customers, revenues and the operating profit figures.

During HY1 2019, 1&1 Drillisch continued to invest in new customer contracts as well as in increased value of current customer relationships to secure sustained growth in profits. The number of customer contracts in the current product lines rose by 380,000 to 13.92 million contracts (31/12/2018: 13.54 million) during the first six months. The new contracts were acquired in the mobile internet business where the number of customers rose to 9.58 million (31/12/2018: 9.20 million). Broadband lines of 4.34 million customer contracts remained constant during the first half of the year. In comparison with 30/06/2018, the number of customer contracts increased in total by 880,000 (6.7%).

Revenues grew in the first half of 2019 by 0.4% from EUR1,819.0 million in the same period of the previous year to EUR1,825.6 million. The high-margin service revenues increased as planned by 3.4% to EUR1,471.1 million (HY1 2018: EUR1,423.3 million). 1&1 Drillisch focuses on these earnings because they are sustainable and determine the profit. Besides the new customers, more and more of our current customers who have previously used rate plans in the Vodafone mobile network are displaying an interest in changing to fast LTE rate. Since LTE rate plans are offered at reduced prices during the first contract year, growth in the service revenue in the first half of the year declined by 1.3% - otherwise, it would have amounted to 4.7%.

The disclosed earnings before interest, taxes, and depreciation and amortisation (EBITDA) rose to EUR340.4 million (HY1 2018: EUR340.1 million). This small increase results from a contractual adjustment mechanism for certain advance service prices not being extended again at the end of 2018. This led to temporary additional costs in the amount of about EUR37.1 million during the first half of 2019. Contrary to original expectations, a replacement or compensation for the expired regulation has not been decided. However, the corresponding advance service prices are currently the subject of arbitration proceedings, and we expect a binding decision about the nature and amount of a permanent price adjustment that will lead to retroactively lower advance service prices in October of this year.

If the effects from IFRS 16 (HY1 2019: EUR+2.3 million; HY1 2018: EUR0 million), the expenditures for integration projects (HY1 2019: EUR-2.3 million; HY1 2018: EUR-7.7million) and the aforementioned temporary price increase for advance services are excluded, the comparable EBITDA would have risen by 8.6% from EUR347.8 million in the previous year to EUR377.5 million in the first half of 2019.

Consolidated EBIT (earnings before interest and taxes) in the first half of 2019 amounted to EUR261.1 million (previous year: EUR262.7 million).

Ralph Dommermuth, CEO of 1&1 Drillisch, summarised the outlook for 2019: "Number of customers, revenue and profit developed well during HY1 2019. We are expecting the number of customers to continue to grow throughout the business year. Owing to the increased demand on the part of current customers for LTE mobile rate plans, we are adjusting our revenue forecast in that we now expect an increase by about 3% instead of growth of about 4% in the service revenue for 2019 (2018: EUR2,882.3 million). Owing to the advantageous LTE procurement model, this adjustment does not have any negative impact on our profitability. On the contrary, a negative regulatory effect of about EUR10 million (increase in subscriber connection line charges from July 2019) and initial costs of about EUR5 million related to planning and preparation of our 5G network have been newly incorporated into our EBITDA projection. We currently expect EBITDA to grow by about 8% in 2019 instead of increasing by about 10% (2018: EUR721.9 million). After the conclusion of the aforementioned assessment arbitration, we are planning to issue an even more concrete forecast for the EBITDA."

Performance indicators pursuant to IFRS - comparison HY1 2019 v. HY1 2018

in EURm HY1 2019 HY1 2018 Change in %
Revenues 1,825.6 1,819.0 +0.4
Service revenue 1,471.1 1,423.3 +3.4
Service revenues excluding effects from changed relief split (existing customers) focusing on LTE mobile services contracts 1,494.2 1,427.8 +4.7
EBITDA 340.4 340.1 +0.1
EBITDA margin in % 18.6 18.7  
EBITDA excluding effects from IFRS 16, one-offs from integration projects and the lapse of the limited-term price adjustment mechanism of an advance service contract 377.5 347.8 +8.6
EBIT without PPA write-offs 318.3 319.9 -0.5
EBIT 261.1 262.7 -0.6
EBIT margin in % 14.3 14.4  
Profit per share in EUR without PPA write-offs 1.24 1.24 0.0
Profit per share in EUR 1.01 1.01 0.0
Customer contracts in current product lines (million) 13.92 13.04 +6.7
of which mobile internet 9.58 8.73 +9.7
of which broadband lines (VDSL, ADSL, FTTH) 4.34 4.31 +0.7

The report will become available on the Company's home page on 15 August 2019.

Maintal, 14 August 2019

1&1 Drillisch AG
The Management Board

Financial performance indicators such as EBITDA, EBITDA margin, EBIT, EBIT margin or free cash flow are used in addition to the disclosures required by the International Financial Reporting Standards (IFRS) in the annual and interim financial statements of 1&1 Drillisch AG and in ad hoc reports pursuant to Art. 17 MAR to ensure a clear and transparent presentation of 1&1 Drillisch's business development. Information about the use, definition and calculation of these performance indicators is available on pages 38 and 39 of the Annual Report 2018 of 1&1 Drillisch AG.

Disclaimer: This report contains statements regarding the future which are based on the current assumptions and projections of the 1&1 Drillisch AG management. Various risks, uncertainties and other factors, both known and unknown, can cause actual developments, especially in the results, financial position, and the business of our Company, to deviate substantially from the projections about the future as they are shown here. The Company does not undertake any obligation to update such future-oriented statements and to adapt them to future events or developments.

Oliver Keil
Head of Investor Relations
Mail: [email protected]

14-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: 1&1 Drillisch Aktiengesellschaft
Wilhelm-Röntgen-Straße 1-5
63477 Maintal
Phone: +49 (0) 6181 - 412 218
Fax: +49 (0) 6181 - 412 183
E-mail: [email protected]
Internet: www.1und1-drillisch.de
ISIN: DE0005545503
WKN: 554550
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 857943

End of Announcement DGAP News Service

857943  14-Aug-2019 CET/CEST


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 629,55 2.430,06 2.812,31 3.662,46 3.674,85 3.786,79 3.885,00
EBITDA1,2 105,60 387,93 504,00 721,90 683,50 468,48 690,00
EBITDA-Marge3 16,77 15,96 17,92 19,71 18,60 12,37 17,76
EBIT1,4 69,18 379,32 439,90 567,23 528,49 313,08 520,00
EBIT-Marge5 10,99 15,61 15,64 15,49 14,38 8,27 13,39
Jahresüberschuss1 46,11 243,36 481,30 406,03 373,62 219,59 360,00
Netto-Marge6 7,32 10,01 17,11 11,09 10,17 5,80 9,27
Cashflow1,7 76,21 246,76 370,14 547,96 510,54 511,26 0,00
Ergebnis je Aktie8 0,85 0,48 2,28 2,30 2,12 1,24 2,15
Dividende8 1,75 1,80 1,60 0,05 0,05 0,05 0,05
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

WKN Kurs in € Einschätzung Börsenwert in Mio. €
554550 25,040 Halten 4.426,19
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
11,43 21,56 0,53 16,05
0,86 8,66 1,17 11,01
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
0,05 0,05 0,20 26.05.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
11.05.2021 05.08.2021 09.11.2021 25.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-5,28% -2,58% 22,50% 25,55%
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu 1&1 Drillisch Aktiengesellschaft  ISIN: DE0005545503 können Sie bei DGAP abrufen

Telekom , 554550 , DRI , XETR:DRI