DGAP-News: United Internet continues growth with successful HY 2012
(firmenpresse) - DGAP-News: United Internet AG / Key word(s): Half Year Results
United Internet continues growth with successful HY 2012
14.08.2012 / 07:20
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Press release
United Internet continues growth with successful HY 2012
- Record growth in new customer contracts of 610,000 to 11.28 million
- Sales up 15.3% to new all-time-high of EUR 1.164 billion
- Strong earnings growth in established business fields
- Expansion course accelerated with heavy investment in new business
fields
Montabaur, August 14, 2012. United Internet AG continued its growth course
as Europe's leading internet specialist in the first half-year 2012. The
company succeeded in raising both sales and customer contract figures to
new record levels and significantly improved earnings in its established
business fields. At the same time, considerable investments were made in
the establishment and expansion of new business fields.
Development of the Group
In the first six months of 2012, consolidated sales of United Internet AG
reached a new all-time-high of EUR 1.164 billion - representing
year-on-year growth of 15.3%. Sales in established business fields rose by
14.4% to EUR 1.149 billion. In addition, there was revenue from new
business fields of EUR 14.7 million (prior year: EUR 5.1 million) due to
the strong international growth of the 1&1 Do-It-Yourself Homepage with
130,000 new contracts (40,000 in same period last year). There was also a
sharp rise in United Internet's other customer contract figures: with the
addition in total of 610,000 new contracts to 11.28 million, the strong
growth of the first half-year 2011 (+400,000 new contracts) was easily
exceeded again.
In its operating business, i.e. without consideration of special items,
United Internet also improved earnings significantly in its established
business fields during the first half of 2012. Earnings before interest,
taxes, depreciation and amortization (EBITDA) grew by 21.9%, from EUR 181.6
million last year to EUR 221.3 million, while earnings before interest and
taxes (EBIT) improved by 25.8%, from EUR 141.2 million last year to EUR
177.6 million.
As announced at the beginning of the year, this strong growth in earnings
of the Group's established business fields was used to invest heavily in
the development of new business fields. The main focus was placed on the
international marketing campaign for the 1&1 Do-It-Yourself Homepage, and
the development of De-Mail applications. In line with planning,
EBIT-effective start-up losses of EUR 73.9 million (prior year: EUR 6.0
million) were incurred for these activities in the first half of 2012.
These start-up losses result mainly from high expenditures for marketing
the 1&1 Do-It-Yourself Homepage in seven European nations and the USA and
are part of total start-up losses planned for new business fields in 2012.
As a result of these start-up losses, there was an expected overall decline
in earnings of United Internet AG in its operating business compared to the
comparative figures of last year. Adjusted for special items, EBITDA
amounted to EUR 148.6 million (prior year: EUR 176.1 million) and EBIT
totaled EUR 103.7 million (prior year: EUR 135.2 million). Pre-tax earnings
(EBT) stood at EUR 95.8 million (prior year: EUR 127.9 million), while
earnings per share (EPS) reached EUR 0.32 (prior year: EUR 0.41).
Group development (in EUR million - without HY 2011 HY 2012 Change* Positive special items HY 2011 (Versatel): EBITDA and EBIT effect: EUR
special items)
Established business fields
Sales 1,004.3 1,148.8 + 14.4%
EBITDA* 181.6 221.3 + 21.9%
EBIT* 141.2 177.6 + 25.8%
New business fields
Sales 5.1 14.7 +188.2%
EBITDA -5.5 -72.7
EBIT -6.0 -73.9
Total
Sales 1,009.4 1,163.5 + 15.3%
EBITDA* 176.1 148.6 - 15.6%
EBIT* 135.2 103.7 - 23.3%
24.8 million
Negative special items HY 2012 (Sedo impairments): EBIT effect: EUR 46.3
million (Possible addition differences due to rounding effects)
'The strong growth and healthy earnings of our established business fields
enables us to invest heavily in new business fields. We are well on track
to reaching the targets set for 2012 as a whole,' states Ralph Dommermuth,
CEO of United Internet, in his assessment of the half-year figures 2012.
Earnings in the first half of 2011 and the first half of 2012 were
influenced by various special items. Whereas in the previous year, there
was a positive effect on consolidated earnings from the sale of Versatel
shares in the second quarter of 2011 (EBITDA and EBIT effect: EUR 24.8
million, EBT effect: EUR 16.3 million, EPS effect: EUR 0.07), there was a
negative effect on earnings in the second quarter of 2012 from impairment
charges of the United Internet subsidiary Sedo Holding AG. The latter
recognized impairment of goodwill in its half-year figures for 2012. These
impairment charges were necessitated in particular by a significant change
in expectations regarding the company's Domain Parking business. United
Internet AG included the impairment in its consolidated financial
statements on the level of the Applications segment. The non-cash
extraordinary impairment charges amounted to EUR 46.3 million (EBIT and EBT
effect; EPS effect: EUR 0.24).
Outlook
With the exception of Sedo Holding AG, all business divisions of United
Internet AG are developing in line with planning. Against this backdrop,
United Internet can confirm its guidance for operating business and expects
full-year sales to grow by around 15% to approx. EUR 2.4 billion. The
number of new customers added in 2012 is expected to rise to approx. 1.2
million, compared to 910,000 in the previous year. Despite start-up costs
in new business fields of around EUR 120 million, EBIT before special items
is expected to remain at around the prior-year figure of EUR 250 million.
Due to extraordinary non-cash-effective impairment of Sedo goodwill
amounting to EUR 46.3 million, expected EBIT will be reduced to approx. EUR
200 million. EPS 2012 will amount to around EUR 0.58 (after approx. EUR
0.42 start-up losses in new business fields and after approx. EUR 0.24 Sedo
impairments).
For 2013, United Internet expects further strong earnings growth with an
EPS of around EUR 1.00 - EUR 1.10 (after approx. EUR 0.30 - EUR 0.40
start-up losses in new business fields).
About United Internet
With over 11 million fee-based customer contracts and 31 million
ad-financed free accounts, United Internet AG is Europe's leading internet
specialist. At the heart of United Internet is a high-performance 'Internet
Factory' with 6,000 employees, of which more than 1,600 are engaged in
product management, development and data centers. In addition to the high
sales strength of its established brands (1&1, GMX, WEB.DE, united-domains,
fasthosts, InterNetX, Sedo and affilinet), United Internet stands for
outstanding operational excellence with around 42 million customer accounts
worldwide. United Internet also holds equity interests in listed companies
and owns numerous investments in young internet companies.
Contact
Marcus Schaps
Head of Press and Public Relations
United Internet AG
Elgendorfer Strasse 57
56410 Montabaur
Germany
Tel: +49 2602/96-1076
Fax: +49 2602/96-1013
E-mail: mschaps(at)united-internet.de
Internet: www.united-internet.de
End of Corporate News
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14.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: United Internet AG
Elgendorfer Straße 57
56410 Montabaur
Germany
Phone: +49 (0)2602 / 96 - 1100
Fax: +49 (0)2602 / 96 - 1013
E-mail: info(at)united-internet.de
Internet: www.united-internet.de
ISIN: DE0005089031
WKN: 508903
Indices: TecDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of News DGAP News-Service
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181509 14.08.2012
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