FX.co ★ United Internet H1 Earnings Down, Sales Rise; Cuts FY24 Outlook

United Internet AG (UDIRF.PK) announced on Thursday a decrease in its first-half earnings before interest and tax (EBIT), which dropped to €347.4 million from €407.1 million in the same period last year.

On an adjusted basis, earnings per share fell to €0.61 from €0.83 a year prior.

The German Internet services provider reported first-half EBITDA of €662.3 million, a slight decline compared to €668.7 million in the previous year.

Sales, however, saw a 2.8 percent increase, rising to €3.10 billion from last year's €3.01 billion.

The company also noted an increase in fee-based customer contracts, which grew by 330,000 to reach a total of 28.78 million.

For fiscal year 2024, United Internet has revised its guidance. The company now anticipates sales of approximately €6.4 billion, down from the previously expected €6.5 billion but higher than the prior year's €6.21 billion.

EBITDA is projected to be around €1.38 billion, compared to an earlier estimate of €1.42 billion. Last year's EBITDA was recorded at €1.30 billion.