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Management Presentation Results 9M/3Q19 Christoph Vilanek, CEO and - PowerPoint PPT Presentation

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Management Presentation Results 9M/3Q19 Christoph Vilanek, CEO and Ingo Arnold, CFO 07 November 2019 | Analyst and Investor Conference Call 1 | Management Presentation 9M/3Q19 | 07.11.2019 Cautionary statement This presentation contains

  1. Management Presentation Results 9M/3Q19 Christoph Vilanek, CEO and Ingo Arnold, CFO 07 November 2019 | Analyst and Investor Conference Call 1 | Management Presentation 9M/3Q19 | 07.11.2019

  2. Cautionary statement This presentation contains forward-looking statements which involve risks and uncertainties. The actual performance, results and timing of the business of freenet AG could differ materially from the expectations regarding performance, results and timing expressed in this presentation. This presentation does not constitute an offer to sell or a solicitation to purchase any securities of freenet AG. Any such decision must not be made on the basis of the information provided in this presentation. freenet AG does not undertake any obligation to publicly update or revise information provided during this presentation. 2 | Management Presentation 9M/3Q19 | 07.11.2019

  3. Results on track to meet full-year guidance 2019 Revenue in EUR million EBITDA in EUR million 2,130 325.8 Subscriber base 1 in million Free cash flow in EUR million 199.2 8.299 1 Postpaid customers, freenet FUNK customers, freenet TV RGUs and waipu.tv subscribers 3 | Management Presentation 9M/3Q19 | 07.11.2019

  4. Group subscriber base growing by 75,500 in 3Q19 Group subscriber base [in ‘000s ] 8,299 +33.9 +10.2 +32.2 -0.9 8,224 1 1 ARPU comparable to postpaid contracts, but not counted within postpaid base 4 | Management Presentation 9M/3Q19 | 07.11.2019

  5. Countermeasures effective – Postpaid net adds positive again Status end of 3Q19 Mobile market challenges freenet countermeasures ▪ Sales agreement for VF and TEFD ▪ Broadening sales cooperations, signed with Expert SE ▪ Fully saturated mobile market bundling DLS options etc. ▪ DLS strongest 3Q result since 2013 with commoditized products ▪ ▪ LTE portfolio completed on all networks Majority of customer base changed to ▪ New regulation put into force LTE for free by year-end ▪ Innovative products e.g. freenet FUNK (e.g. international calls) ▪ freenet FUNK +31k w/o marketing; as full digital proposition FUNK technology to be used for ▪ Reduced competition on other tariffs before end of the year ▪ Churn down – Customer loyalty projects hardware market (Huawei ban) (digitalization customer journey) ▪ Volume increase in Media ▪ Longer hardware innovation Markt/Saturn and indirect online ▪ Customer acquisition mix focusing cycles and usage channels on quality and lifetime margin ▪ More rigid use of discounts and dealer commissions 5 | Management Presentation 9M/3Q19 | 07.11.2019

  6. Number of waipu.tv subscribers already above FY plans Registered customers Some operational KPI highlights: 1,994 [in '000] 1,748 1,515 31% of all users use 1,264 the newly introduced 1,007 waiputhek 824 609 +987,300 registered customers added (or +98.1%) Average duration of daily waipu.tv usage per subscriber Q1 19 Q2 19 Q3 19 Q1 18 Q2 18 Q3 18 Q4 18 up 40% since 3Q18 366 Subscribers 332 [in '000] 286 252 Consumption of 202 unique NewTV channels 174 133 e.g. Bild or ADAC up Contained subscribers almost doubled (+163,400 or +80.7%) 66% since March 2019 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 6 | Management Presentation 9M/3Q19 | 07.11.2019

  7. waipu.tv as aggregation platform for linear entertainment growing New features launched in 3Q19 Upcoming in 4Q19 ✓ Launch of Germany’s largest Turkish Distribution of 14 regional German channels on a transmission fee basis language package with over 30 channels ✓ Launch of further proprietary channel Launch of even more channel assets with genres including music, documentaries and celebrity news assets (including wellness, crime series (bing watching), fashion and lifestyle, Launch of a feature allowing artificial intelligence based nature and documentaries) filtering of electronic programming guides based on ✓ Joint presentation of voice enabled user viewers/content preferences interface feature with Amazon at IFA consumer trade fair in Berlin ✓ Roll-out of personal video library feature (“ Waiputhek ”) 7 | Management Presentation 9M/3Q19 | 07.11.2019

  8. waipu .tv‘s Turkey package adds significant customer potential Key facts about “ Türki Paketi ” 9.99€ Attractive initial pricing modell, no buy-through product Largest Turkish language package in 30+ Germany with over 30 channels in HD 800k+ Turkish TV households in Germany >50% Turkish TV households addressable by freenet/waipu customer base 8 | Management Presentation 9M/3Q19 | 07.11.2019

  9. Voucher push back freenet TV anticipated and averted Subscribers (RGU 1 ) 9M19 vs. 9M18 comparison: ▪ freenet TV subscribers (RGU 1 ) show no [in '000] ✓ Stability maintained voucher push back (+135,100 or 15.0%) and still above long-term target (> 1.0 million RGUs) ▪ Promotions and discounts significantly 1,037 1,037 1,020 reduced 1,001 1,014 945 901 ▪ Testing of combined offer with waipu.tv under investigation Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 1 RGU as the abbreviation for “Revenue Generating Unit” refers to freenet TV subscribers who purchased and also activated the f reenet TV access 9 | Management Presentation 9M/3Q19 | 07.11.2019

  10. Regulatory effects announced in August are taking place in Q3 ▪ Missing operational results in H1/2019 ▪ Follow-up costs from divestment ▪ EBITDA effects (yoy) in 2019 w/o book profits Analogue radio sale (mEUR): (TV & Media) Q1 Q2 Q3 Q4e FYe -3 -2 +/-0 +/-0 -5 ▪ EU international calls/ roaming regulation ▪ International call regulation effective since International Calls/ 15 May 2019 Roaming ▪ EBITDA effects (yoy) in 2019 (mEUR): (Mobile) Q1 Q2 Q3 Q4e FYe 0 -2 -5 -5 -12 10 | Management Presentation 9M/3Q19 | 07.11.2019

  11. Group performance adjusted by regulatory effects steady Revenue 9M19 vs. 9M18 comparison: [in mEUR] ▪ Revenue up 26.7 mEUR to 2,130.0 mEUR. ▪ Gross profit and EBITDA impacted by effects from inevitable regulatory changes: IFRS 16, international calls/ roaming and analogue radio 794.2 741.0 717.0 689.9 699.1 696.6 689.6 divestment. ▪ Adjusted by regulatory effects both, gross profit and EBITDA, developed almost steady: Gross profit -1.0 per cent to 662.1 mEUR and EBITDA +1.9 mEUR to 304.8 mEUR. Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Gross profit EBITDA [in mEUR] [in mEUR] 123.0 110.3 113.3 107.5 227.3 219.4 219.4 235.1 107.9 108.1 222.9 222.2 11.2 10.9 223.5 16.5 11.6 3.4 96.8 3.5 11.4 4.0 7.7 -1.9 -1.5 -2.0 -2.1 -5.0 0.8 -2.0 -5.0 223.3 218.1 220.8 96.0 100.4 106.5 101.6 98.6 100.2 106.0 Q1 18 Q2 18 Q3 18 Q4 18 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q1 19 Q2 19 Q3 19 EBITDA w/o regulatory effects Gross Profit w/o regulatory effects Analogue radio divestment International calls/ roaming IFRS 16 International calls/ roaming IFRS 16 11 | Management Presentation 9M/3Q19 | 07.11.2019

  12. Mobile – Stable running engine… Revenue 9M19 vs. 9M18 comparison: [in mEUR] ▪ Revenue up 36.3 mEUR to 1,928.7 mEUR due to low-margin hardware sales; high-margin postpaid service revenue -6.3 mEUR due to international calls (1,159.7 mEUR vs. 1,166.0 mEUR). ▪ 714.3 Gross profit adjusted by regulatory effects and without inter-segment 672.7 654.2 631.3 624.7 621.0 617.2 allocation increased by 4.0 mEUR to 526.0 mEUR mainly due to lower 92.1 subscriber acquisition costs in 1Q19. ▪ EBITDA without extraordinary effects increased by 8.3 mEUR to 276.7 mEUR based on gross profit development. Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Gross profit EBITDA [in mEUR] [in mEUR] 168.9 169.3 185.2 178.5 94.9 179.0 -0.5 -0.7 175.7 179.6 -2.5 5.5 99.8 96.5 -5.0 -5.0 8.5 -2.0 4.0 90.4 0.1 3.8 84.4 91.5 6.2 -0.0 5.8 90.3 -0.1 -2.0 -4.2 2.4 -1.8 -1.8 5.6 6.9 -2.0 170.5 171.7 179.7 181.0 179.5 171.7 174.8 83.4 89.0 96.0 88.6 92.1 88.7 95.9 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Gross Profit w/o regulatory effects/ inter-segment allocation EBITDA w/o regulatory effects/ inter-segment allocation International calls/ roaming Inter-segment allocation IFRS 16 International calls/ roaming Inter-segment allocation IFRS 16 12 | Management Presentation 9M/3Q19 | 07.11.2019

  13. Mobile – …with postpaid net adds bouncing back Postpaid Customers 9M19 vs. 9M18 comparison: [in '000] ▪ Postpaid customer development positive again (+32,200 in 3Q19) reaching 3Q18 customer level. Guidance in sight. freenet FUNK customers 6,866 6,862 6,896 6,869 6,834 +10,200 added in 3Q19 not included (Total active: >30,600). 6,828 6,770 ▪ Postpaid ARPU without hardware at 18.8 euros moves stable forward, but slightly below 3Q18 (international calls impact). ▪ Demand for value added services unchanged. Digital Lifestyle revenues slightly up 2.8 mEUR to 133.2 mEUR. Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Postpaid ARPU Digital Lifestyle revenues [in EUR] [in mEUR] 49.4 45.4 46.5 21.4 21.5 21.9 21.7 21.7 21.7 21.8 42.6 42.4 44.6 42.1 19.0 19.0 19.2 18.9 18.8 18.8 18.8 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 ARPU without hardware ARPU incl. hardware 13 | Management Presentation 9M/3Q19 | 07.11.2019

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