Freenet reports Q4 and 2008 results
Friday, March 27th, 2009
Freenet AG, which comprises former Debitel (mobile) and former Freenet (ISP), reported revenues of €2,874bn and a net result of €111,6mln. Despite these results, market capitalisation at the end of 2008 was only €531mln against €1,5bn one year before. This is why United Internet and Drillisch, which jointly own 26% of Freenet, were obliged to write-down 2/3 of their investments and posted huge losses in 2008.Revenues analysis (the sum does not match total revenues)
- Mobile : €2654mln
- Broadband : €302mln
- Other (portal, hosting, B2B, narrowband) : €313mln
Freenet has 19,12 million mobile and 940,000 DSL subscribers against 1,05 million at Q308.
This reflects the fact that Freenet has decided in March 2008 to spin off the DSL and portal business which is currently for sale.