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Inhalt der
Ad-Hoc-Mitteilung:
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DGAP-Ad-hoc: United Internet AG / Key word(s):
Change in Forecast
United Internet AG: Substantial price increase
from July 2020 onwards for the use of
Telefónica's network capacity by 1&1
Drillisch. EBITDA forecast 2020 reduced to approx.
EUR 1.180 billion
19-Sep-2020 / 03:31 CET/CEST
Disclosure of an inside information acc. to
Article 17 MAR of the Regulation (EU) No 596/2014,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the
content of this announcement.
Montabaur, 19 September 2020. The first
five-year prolongation phase of the existing MBA MVNO
agreement between Drillisch Online GmbH (a 1&1
Drillisch AG company and indirect subsidiary of
United Internet) and Telefónica Germany GmbH
& Co. OHG (″Telefónica") started on
1 July 2020. The MBA MVNO agreement serves to
implement the commitments of Telefónica under
the merger clearance decision of the EU Commission
regarding the merger with E-Plus. The parties are
negotiating parallel to the for some time ongoing
negotiations to conclude a national roaming agreement
also the prices under the MBA MVNO as from July 2020.
Despite the ongoing negotiations, yesterday,
Telefónica has sent 1&1 Drillisch MBA
MVNO-invoices for the advance service prices for July
and August 2020 with the advance service prices that
Telefónica considers to be applicable without
making this subject to agreement in the
negotiations.
Whereas, so far, the voice prices per minute and
data prices per GByte were reduced steadily in the
last five years based on the MBA MVNO Agreement,
Telefónica now assumes consistently high voice
prices per minute and data prices per GByte from July
2020 and for the following years. They shall be
equivalent to the average prices in the period
between 1 July 2019 and 30 June 2020 and no longer be
reduced in the future. Furthermore, certain, so far
free of charge capacities for voice and SMS shall no
longer exist. This, compared to the previous months,
resulting price increase as from July 2020 and the
future discontinuation of the annual price degression
will result in annually substantially increasing
additional costs, in particular due to the expected
significant annual data growth.
As a precautionary measure, United Internet
therefore reduces its EBITDA forecast for 2020 und
now expects an EBITDA of approx. EUR 1.180 billion in
this year instead of approx. EUR 1.266 billion (the
EBITDA of the previous year). Moreover, also in the
next years, there will be high decline in earnings
should the prices requested by Telefónica
continue to be applied permanently.
This forecast is still subject to uncertainties as
a precise assessment of the duration and further
effects of the coronavirus pandemic and the outcome
of the ongoing negotiations is currently not
possible.
The outcome of the ongoing negotiations also has
an impact on the rollout of a high-performance 5G
network planned by 1&1 Drillisch. This is because
national roaming will be required for a multiyear
transitional period. For the national roaming
agreement, which is negotiated between
Telefónica and 1&1 Drillisch for almost
two years on the basis of Telefónica's
commitments under the EU merger clearance decision
regarding the merger with E-Plus, the prices of the
MBA MVNO Agreement are principally applicable.
However, it is not foreseeable whether an agreement
will be reached and under what conditions.
1&1 Drillisch considers the advance service
prices claimed by Telefónica from 1 July 2020
onwards to not comply with the commitments of
Telefónica under European Commission's merger
clearance decision on the merger with E-Plus as well
as the MBA MVNO agreement. In the agreement, for both
five-year prolongation periods from 1 July 2020,
according to 1&1 Drillisch's understanding, only
provisions to determine the maximum prices per
bitstream component were agreed. The prices per unit
(per GByte, voice minute and SMS) to be determined
within these maximum requirements must also be guided
by the market trends and continue to be annually
reduced to enable the offering of mobile tariffs in
line with the market.
1&1 Drillisch will take the measures necessary
to safeguard its rights (including possible claims
for damages). 1&1 Drillisch is in exchange with
the European Commission on this issue. Furthermore,
the prices are subject of ongoing price adjustment
proceedings initiated by 1&1 Drillisch.
Telefónica is blocking the appointment of an
independent expert for the two price review
proceedings initiated in January and July 2020 (Price
Review 5 and 6). 1&1 Drillisch has, with respect
to the appointment of an expert, already filed a
request for arbitration for the Price Review 5
proceedings and is preparing the necessary steps for
the Price Review 6 proceedings].
Contact
Matthias Brandes
Head of Corporate Communication
E-mail: presse@united-internet.de
Note:
In the interests of clear and transparent
reporting, the annual financial statements and
interim statements of United Internet AG, as well as
its ad-hoc announcements pursuant to Art. 17 MAR,
contain additional financial performance indicators
to those required under International Financial
Reporting Standards (IFRS), such as EBITDA, EBITDA
margin, EBIT, EBIT margin and free cash flow.
Information on the use, definition and calculation of
these performance measures is provided in the Annual
Report 2019 of United Internet AG from page 49
onwards.
Contact:
Press
United Internet AG
Elgendorfer Straße 57
56410 Montabaur
Phone: +49 2602/96-1616
Fax: +49 2602/96-1085
E-Mail: presse@united-internet.de
Internet: www.united-internet.de
19-Sep-2020 CET/CEST The DGAP Distribution
Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| 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@united-internet.de |
| Internet: |
www.united-internet.de |
| ISIN: |
DE0005089031 |
| WKN: |
508903 |
| Indices: |
MDAX, TecDAX |
| Listed: |
Regulated Market in
Berlin, Frankfurt (Prime Standard); Regulated
Unofficial Market in Dusseldorf, Hamburg,
Hanover, Munich, Stuttgart, Tradegate
Exchange |
| EQS News ID: |
1133927 |
|
|
| End of
Announcement |
DGAP News
Service |
1133927 19-Sep-2020 CET/CEST |