Thursday, 19 February 2009

Freenet reports 70% jump in revenues - Germany

Freenet, the German multi-service operator, has reported a 70% jump in its revenues to EUR 2.87 billion (USD 3.61 billion) for the fiscal year 2008, as compared to EUR 1.69 billion (USD 2.13 billion) in 2007. However, the company’s earnings before interest, tax, depreciation and amortization (EBITDA) declined 3.1% from EUR 213.7 million (USD 269.26 million) to EUR 207.1 million (USD 260.94 million)

Freenet became one of the leading mobile phone operators in Germany after acquiring the MVNO, debitel, for EUR 1.63 billion (USD 2.05 billion) in April 2008. It generated a subscriber base of 19.9 million at the end of September 2008, compared to 5.98 million three months earlier and 5.45 million at the end of September 2007. Freenet is expected to declare their final results on 26 March 2009.