freenet AG Analyst Consensus Q2/2016
2Q
16
FY
16
FY
17
FY
18
High
High
Revenues
811,1
13
829,4 799,6
8,7
3.313,7
9
3.406,0
3.261,3 40,6
3.393,4
6
Gross profit
213,1
12
251,5 188,1
15,0
867,5
9
963,7
804,2 45,6
912,9
6
EBITDA
Consensus
Low
SD
Low
SD
High
Low
SD
# of estimates
Consensus
# of estimates
Consensus
# of estimates
Consensus
# of estimates
Consensus
High
3.450,8
6
3.625,0
3.119,1
178,4
936,9
6
1.050,5
830,6
73,6
Low
SD
Financials
Group Result [€ mn.]
3.514,5 3.156,7 125,2
970,0
835,8 52,9
101,0
13
104,0
98,0
1,5
408,5
9
414,8
394,4
6,3
418,7
6
453,3
383,5 23,2
436,9
6
492,6
387,5
37,7
Group result
53,4
11
64,4
40,0
6,9
221,9
8
260,2
189,8 23,4
209,8
5
246,9
187,8 24,1
225,5
5
247,5
194,0
20,7
Free cash flow*
98,4
10
109,1
80,0
10,3
323,2
8
336,2
301,3 14,1
327,0
5
387,9
297,0 38,2
340,9
5
421,9
300,7
47,8
Revenue
734,8
11
752,7 716,0
11,2
3.050,7
6
3.083,2
3.002,1 31,7
3.063,3
5
3.126,1 2.917,5 83,4
3.086,0
5
3.189,6
2.854,9
132,4
Gross profit
177,9
10
180,7 173,7
2,1
739,6
6
751,0
723,4 11,0
745,9
5
762,8
723,2 16,7
750,1
5
779,9
711,0
26,4
93,2
11
2,3
387,7
6
402,6
371,9 12,3
390,6
5
410,7
366,7 17,0
396,3
5
428,9
354,5
29,1
Mobile Communications segment result [ € mn.]
EBITDA
97,7
91,1
Operational KPI`s
Mobile Communications customers [mn.]
12,05
12
0,0
11,89
9
12,02
11,74
0,1
11,58
6
11,87
11,31
0,2
11,33
6
11,74
10,96
0,3
Thereof Customer Ownership
9,39
12
9,45
9,01
0,1
9,45
9
9,59
8,96
0,2
9,45
6
9,79
8,44
0,5
9,46
6
9,95
8,11
0,7
Thereof contract customers
6,39
12
6,43
6,38
0,0
6,47
9
6,54
6,40
0,1
6,58
6
6,74
6,46
0,1
6,64
6
6,90
6,31
0,2
Thereof no-frills customers
2,99
12
3,05
2,63
0,1
2,98
9
3,06
2,55
0,2
2,86
6
3,08
1,93
0,5
2,82
6
3,12
1,52
0,6
2,67
12
3,02
2,54
0,1
2,44
9
3,03
2,19
0,2
2,14
6
3,09
1,55
0,5
1,88
6
3,13
1,03
0,7
0,6
Thereof prepaid cards
12,11 11,95
Monthly average revenue per user (ARPU) [€]
Contract customer
21,5
13
21,9
21,3
0,2
21,5
9
21,9
21,3
0,2
21,5
6
22,1
20,8
0,4
21,5
6
22,2
20,4
No-frills customer
2,5
13
3,0
2,2
0,2
2,5
9
2,9
2,2
0,2
2,5
6
2,9
2,0
0,3
2,4
6
2,9
1,9
0,3
Prepaid card
3,0
13
3,3
2,6
0,2
3,0
9
3,4
2,5
0,2
3,0
6
3,6
2,7
0,4
3,0
6
3,6
2,6
0,4
29,6
13
37,0
20,0
4,9
Recommendation
Target Price [€]
* Free cash flow is defined as cash flow from operating activities, minus investments in property, plant and equipment and intangible assets, plus proceeds from the disposal of property, plant and equipment and intangible assets.
Please note:
The analyst consensus for the Q2 2016 period is based on the non‐weighted average of 13 analyst forecasts. The analyst forecasts were submitted to freenet between 14 July and 26 July 2016. The consensus is based on various analysts' estimates and
forecasts and has been issued by freenet AG for information purposes only. It does not constitute an offer to sell or a solicitation to purchase any securities of the freenet AG.
This consensus is based on forecasts and estimates provided by various leading equity analysts covering the freenet share regarding the revenue, earnings and business development. Such estimates and forecasts cannot be independently verified by reason
of the subjective character. The freenet AG does not give any guarantee, assurance or warranty regarding completeness or accuracy. Therefore any liability shall be excluded.
For further information please contact freenet AG Investor Relations at: +49 (0)40 51306 778 or at: ir@freenet.ag
freenet AG Investor Relations - FNTN consensus output Q2-2016
27 July 2016