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Germany's United Internet nine-month revenue rises, maintains 2026 outlook

By Reuters News


Overview

  • Germany internet specialist's nine-month revenue rose 3% yr/yr to EUR 4.64 bln

  • EBITDA for the period increased 10%, EBIT up 25.4% yr/yr

  • Company added 770,000 customer contracts, led by growth in IONOS and Mail & Media segments


Outlook

  • United Internet confirms 2026 sales guidance at approx. EUR 6.25 bln

  • Company expects 2026 operating EBITDA of approx. EUR 1.45 bln

  • Cash capex for 2026 expected at EUR 600-650 mln


Result Drivers

  • SEGMENT CONTRASTS - Growth in IONOS and Mail & Media contracts offset by decline in 1&1 contracts due to discount tariff realignment

  • ONE-OFF EXPENSES - Earnings impacted by EUR 61.3 mln in transformation and restructuring costs at 1&1 Versatel and IONOS

  • LOWER PPA AMORTIZATION - EBIT increase supported by lower PPA amortization and lower tax expenses


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Revenue

EUR 4.64 bln

9M EBIT

EUR 555.70 mln

9M EBITDA

EUR 1.06 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the integrated telecommunications services peer group is "buy"

  • Wall Street's median 12-month price target for United Internet AG is €33.00, about 34.8% above its November 11 closing price of €24.48

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Nov 11 - Germany's Adesso 9-month sales rise 13%, EBITDA up 26%

  • Nov 11 - Germany's Gesco nine-month EPS jumps, reaffirms FY forecast

  • Nov 11 - German economic council upgrades growth forecasts, flags budget risks


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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