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BRIEF-Freenet AG proposes dividend of EUR1.60 per share for 2016
March 2, 2017 / 5:24 PM / 9 months ago

BRIEF-Freenet AG proposes dividend of EUR1.60 per share for 2016

March 2 (Reuters) - Freenet AG

* Freenet AG reaches respectively exceeds targets for fiscal year 2016 and significantly improves key figures for revenue, EBITDA and free cash flow

* FY revenue rose 7.8 percent to 3.362 billion eur

* Dividend 1.60 eur per share

* In FY significant growth of 18.5 percent in group ebitda1 to 438.8 million euros (previous year: 370.2 million euros)

* FY depreciation and amortisation increased by 52.9 million euros over previous year to 124.3 million euros (previous year: 71.4 million euros

* In FY results for 2016 showed a group result of 216.4 million euros, 5.0 million euros below previous year (previous year: 221.5 million euros)

* Freenet AG reaches respectively exceeds targets for fiscal year 2016 and significantly improves key figures for revenue, EBITDA and free cash flow

* 7.8 percent increase in group revenue to 3.362 billion euros (previous year: 3.118 billion euros)

* Significant growth of 18.5 percent in group EBITDA1 to 438.8 million euros (previous year: 370.2 million euros)

* 20.0 percent increase in free cash flow2 to 341.5 million euros (previous year: 284.5 million euros)

* Management confirms announced dividend proposal of 1.60 euros (previous year: 1.55 euros) for fiscal year 2016

* Capital market day scheduled for 12 April 2017 in Cologne to present details on TV business and to publish guidance for 2017

* Based on preliminary figures, freenet AG [isin de000a0z2zz5] reached respectively exceeded all targets indicated for fiscal year 2016

* According to preliminary results, company chalked up increased group revenue of 3.362 billion euros, a 7.8 percent increase over previous year (previous year: 3.118 billion euros)

* Core business mobile communications contributed a total of 3.126 billion euros to group revenue, 2.1 percent more than previous year (3.061 billion euros).

* With stable average revenue per contract customer (postpaid arpu) of 21.4 euros (previous year: 21.4 euros), strategically important postpaid customer base increased by 203,000 participants to currently 6.51 million (previous year: 6.31 million customers)

* In no-frills area, which includes mobile phone tariffs sold through discount brands of group, arpu was 2.4 euros (previous year: 2.5 euros)

* Number of participants in this customer segment rose by 29,000 to 3.02 million over previous year (previous year: 2.99 million customers)

* By comparison, number of prepaid cards in circulation continued to decline from 2.94 million sim cards as of 31 december 2015 to currently 2.53 million

* Group ebitda increased significantly, by 18.5 percent to 438.8 million euros (previous year: 370.2 million euros)

* Gross profit margin improved thereby to 26.7 percent (previous year: 25.4 percent).

* Depreciation and amortisation increased by 52.9 million euros over previous year to 124.3 million euros (previous year: 71.4 million euros),

* Net financial debt3 per 31 december 2016 increased to 725.8 million euros (previous year: 369.2 million euros)

* Free cash flow in reporting period was 341.5 million euros (previous year: 284.5 million euros), corresponding to a 20.0 percent increase.

* As already announced in march 2016, management will suggest to supervisory board a dividend in amount of 1.60 euros per dividend-bearing no par-value share for fiscal year 2016

* This corresponds to a pay-out ratio of approximately 60 percent of free cash flow generated in fiscal year 2016. Source text for Eikon: Further company coverage:

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