euro adhoc: freenet AG
Financial Figures/Balance Sheet
freenet group
announces preliminary figures
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
annual report
19.02.2009
Büdelsdorf, 19 February, 2009 - The initial figures indicate that freenet AG generated group revenues of 2873.8 million EUR in 2008, up from 1690.8 million EUR in 2007. Gross profits came to 641.6 million EUR for the year, as compared to 445.7 million EUR in 2007. Earnings before interest, taxes and depreciation/amortisation (EBITDA) were 207.1 million EUR vs. 213.7 million EUR in 2007.
The DSL business, for which the sale process has been initiated, and debitel Nederland B.V., which was sold before the reporting date, are shown in the figures as "discontinued lines of business" in accordance with IFRS 5. The discontinued lines of business contributed -36.8 million EUR (vs. -111.9 million EUR in 2007) to the Group result, while the continuing lines of business achieved a Group result of 148.4 million EUR (60.9 million EUR in 2007).
The costs of customer acquisition and customer retention and the accrual on the liabilities side of revenue components related to such costs were no longer capitalised in 2008. freenet has decided to no longer collect the necessary information about costs of customer acquisition and retention per customer in accordance with IAS 8.14(b).
The previous year's figures cited here are retrospectively adjusted figures to reflect the switch in reporting the costs of customer acquisition and retention, and the application of IFRS 5 for 'discontinued lines of business'.
The Group has set aside reserves in connection with the restructuring concept for the mobile telephony division which was announced in Q4/2008. Largely due to these provisions, the mobile telephony division reported one-off expenditure in the amount of 73.5 million EUR during the fourth quarter of 2008.
end of announcement euro adhoc
Further inquiry note:
freenet AG
Andreas Neumann
IR-Manager
Tel.: +49 (0)40 51306778
E-Mail: investor.relations@freenet.ag
Branche: Online
ISIN: DE000A0EAMM0
WKN: A0EAMM
Index: Midcap Market Index, TecDAX, CDAX, HDAX, Prime All Share,
Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade