Reported Earnings • May 17
First quarter 2026 earnings released: EPS: €0.41 (vs €0.49 in 1Q 2025) First quarter 2026 results: EPS: €0.41 (down from €0.49 in 1Q 2025). Revenue: €768.7m (up 26% from 1Q 2025). Net income: €47.8m (down 18% from 1Q 2025). Profit margin: 6.2% (down from 9.5% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Wireless Telecom industry in Europe. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €32.90, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Wireless Telecom industry in Europe. Total loss to shareholders of 4.9% over the past year. Declared Dividend • May 05
Dividend of €2.07 announced Shareholders will receive a dividend of €2.07. Ex-date: 14th May 2026 Payment date: 19th May 2026 Dividend yield will be 7.8%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (66% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share is expected to grow by 22% over the next 3 years, which should maintain adequate earnings cover for the dividend. Declared Dividend • Apr 14
Dividend of €2.07 announced Shareholders will receive a dividend of €2.07. Ex-date: 14th May 2026 Payment date: 19th May 2026 Dividend yield will be 7.2%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (66% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share is expected to grow by 21% over the next 3 years, which should maintain adequate earnings cover for the dividend. 공시 • Apr 03
freenet AG, Annual General Meeting, May 13, 2026 freenet AG, Annual General Meeting, May 13, 2026, at 10:00 W. Europe Standard Time. Reported Earnings • Mar 23
Full year 2025 earnings released: EPS: €2.28 (vs €2.53 in FY 2024) Full year 2025 results: EPS: €2.28 (down from €2.53 in FY 2024). Revenue: €2.47b (down 1.4% from FY 2024). Net income: €269.0m (down 11% from FY 2024). Profit margin: 11% (down from 12% in FY 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Wireless Telecom industry in Europe. Declared Dividend • Mar 04
Dividend of €2.07 announced Shareholders will receive a dividend of €2.07. Ex-date: 14th May 2026 Payment date: 18th May 2026 Dividend yield will be 7.4%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is covered by both earnings (84% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Mar 03
freenet AG announces Annual dividend, payable on May 18, 2026 freenet AG announced Annual dividend of EUR 2.0700 per share payable on May 18, 2026, ex-date on May 14, 2026 and record date on May 15, 2026. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €27.86, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 20x in the Wireless Telecom industry in Europe. New Risk • Dec 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.6% average weekly change). Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: €0.68 (vs €0.60 in 3Q 2024) Third quarter 2025 results: EPS: €0.68 (up from €0.60 in 3Q 2024). Revenue: €668.8m (up 7.0% from 3Q 2024). Net income: €79.8m (up 12% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Wireless Telecom industry in Europe. 공시 • Jul 31
JD.com, Inc. (NasdaqGS:JD) proposed to acquire 74.65% stake in Ceconomy AG (XTRA:CEC) from Convergenta Invest GmbH, Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, freenet AG (XTRA:FNTN), BC Equities GmbH & Co. KG and others for €1.7 billion. JD.com, Inc. (NasdaqGS:JD) proposed to acquire 74.65% stake in Ceconomy AG (XTRA:CEC) from Convergenta Invest GmbH, Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, freenet AG (XTRA:FNTN), BC Equities GmbH & Co. KG and others for €1.7 billion on July 30, 2025. A cash consideration valued at €4.6 per share will be paid by JD.com, Inc. JD.com and CECONOMY’s founder family shareholder Convergenta Invest GmbH entered into a shareholder agreement, through Convergenta currently holds approximately 29.16% of the shares in CECONOMY. Convergenta has committed to tender 18.5 million shares, representing 3.81% stake into the offer, hence retaining a stake of around 25.35% in CECONOMY thereafter. The Bidder has also entered into agreements with Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, BC Equities GmbH & Co. KG and freenet AG – who together hold approximately 27.9% irrevocably undertaken to accept offer. The aggregate shareholders have irrevocably undertaken to accept the Takeover Offer with respect to 31.7% of the CECONOMY Shares in total (including 3.81% from Convergenta), securing a total shareholding of 57.1% in combination with the retained stake of JD.com’s future partner Convergenta ahead of the launch of the Takeover Offer. Upon successful completion of the offer, JD.com intends to pursue a delisting of CECONOMY. As part of the transaction, CECONOMY will remain a stand-alone business in Europe with a local independent technology stack, and no changes are planned to the workforce, employee agreements and sites. JD.com and CECONOMY have also signed an investment agreement to drive CECONOMY as a stand-alone business and accelerate CECONOMY’s transformation into Europe’s omni-channel consumer electronics platform. JD.com, renowned for its customer experience and e-commerce logistics service standards, will contribute its advanced technology, omni-channel retail expertise, and logistics and warehouse capabilities to the partnership.
The transaction will be financed through a combination of acquisition loan and the Company’s cash on balance sheet.
The Takeover Offer will be subject to customary conditions, including, among others, merger control, foreign direct investment and foreign subsidies clearances. The Takeover Offer will not be subject to a minimum acceptance rate. The closing of the Takeover Offer is expected to take place in the first half of 2026. Subject to a careful review of the offer document in accordance with their legal obligations, CECONOMY’s Management Board and Supervisory Board intend to recommend to shareholders the acceptance of the offer proposed.
Lazard is acting as lead financial advisor to Ceconomy and J.P. Morgan is acting as financial advisor to the Supervisory Board of CECONOMY. Kirkland & Ellis is acting as legal advisor to CECONOMY. Deutsche Bank and Goldman Sachs are acting as financial advisors to JD.com and Baker McKenzie is acting as legal advisor to JD.com. 공시 • Jun 12
freenet AG (XTRA:FNTN) commences an Equity Buyback Plan under the authorization approved on May 5, 2022. freenet AG (XTRA:FNTN) commences share repurchases on June 4, 2025, under the program mandated by the shareholders in the Annual General Meeting held on May 5, 2022. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The purchase price per share (excluding ancillary acquisition costs) may not be more than 10% higher or lower than the average of the freenet share prices in the closing auction in the Xetra trading system on the Frankfurt Stock Exchange on the three stock exchange trading days preceding the day on which the obligation to acquire the shares was entered into. The repurchased shares will be cancelled or transferred to third parties as a (partial) consideration for the direct or indirect acquisition of companies, or to persons who are or have been in an employment or work relationship or can be used for fulfilling option or conversion rights or conversion or conversion obligations or a right to delivery of shares of the company resulting from option and/or convertible bonds. The repurchase authorization is valid till May 4, 2027.
On March 20, 2025, the company announced a share repurchase program. Under the program, the company will repurchase 4,000,000 shares, for €100 million worth of its shares. The buyback aims to reduce share capital through the cancellation of repurchased shares. Repurchases will commence from June 4, 2025 and be valid till December 31, 2025. Valuation Update With 7 Day Price Move • May 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €29.42, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Wireless Telecom industry in Europe. Reported Earnings • May 22
First quarter 2025 earnings released: EPS: €0.48 (vs €0.73 in 1Q 2024) First quarter 2025 results: EPS: €0.48 (down from €0.73 in 1Q 2024). Revenue: €610.5m (up 1.8% from 1Q 2024). Net income: €57.6m (down 34% from 1Q 2024). Profit margin: 9.4% (down from 15% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Wireless Telecom industry in Europe. 공시 • May 13
freenet AG announces Annual dividend, payable on May 16, 2025 freenet AG announced Annual dividend of EUR 0.7600 per share payable on May 16, 2025, ex-date on May 14, 2025 and record date on May 15, 2025. 공시 • Apr 02
freenet AG, Annual General Meeting, May 13, 2025 freenet AG, Annual General Meeting, May 13, 2025, at 10:00 W. Europe Standard Time.