- 1&1 Q1 2024 revenue was flat at €1,024.4 million (analysts estimate: €1,031.9 million or +1.1%), dragged down by hardware and other (low-margin business) revenue which fell by 12.8% y/y to €202.5 million, service revenue rose 4.2% y/y to €821.9 million (analysts estimate:€822.3 million), EBITDA was flat at €182.3 million (analysts estimate: 187.2 million)-weighed down by increased network startup cost while EPS came in €0.47 vs analysts estimate of €0.49.
- 1&1 said they closed the quarter with 1,334 antenna sites versus 1,350 guided.
- In Q1, access contracts was flat at 16.30 million (addition of 40k), missing analysts estimate of 12.31 million (addition of 70k), mobile and broadband contracts were flat at 12.29 million and 4.01 million, respectively.
- 1&1 said at the end of March, they had migrated 700,000 customers to their own network and that the migration process is going on well.
- 1&1management maintained its 2024 guidance which includes service revenue of €3.37 billion (analysts estimate: €3.36 billion or +3.6%), EBITDA of €720 million (analysts estimate: €719.6 million or +10.1%) and mobile network startup costs of €-160 million (analysts estimate: -€160.5 million).
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