EQS-Adhoc: 1&1 with positive outlook for 2024

11 with positive outlook for 2024

Montabaur, 19 December 2023 – For financial year 2024, 11 AG (ISIN DE 0005545503) forecasts an increase in service revenue of ca. 4 percent (Forecast 2023: ca. €3.23 billion) and EBITDA growth of ca. 10 percent (Forecast 2023: €655 million).

The company will continue to invest in the expansion of its mobile communications network - cash capex is expected to be ca. 20 percent higher than in the current year (Forecast 2023: ca. €320 million).

Montabaur, 19 December 2023

11 AG

The Management Board

About 11

11 AG is a listed telecommunications provider based in Montabaur, Germany. The company is member of the United Internet AG Group. 11 offers a comprehensive tariff portfolio in its 5G mobile network as well as high-performance broadband connections based on the 11 Versatel fiber-optic transport network. It also offers attractive bundled products from mobile and fixed-line networks as well as value-added applications such as home networking, online storage, video-on-demand, smart home solutions and IPTV. While the 11 brand addresses value and premium segments, the company appeals to price-conscious target groups with its discount brands.

Note:

Financial performance indicators such as EBITDA, EBITDA margin, EBIT, EBIT margin or free cash flow are used in addition to the disclosures required by the International Financial Reporting Standards (IFRS) in the annual and interim financial statements of 11 AG and in ad hoc reports pursuant to Art. 17 MAR to ensure a clear and transparent presentation of 11 AG business development. Information about the use, definition and calculation of these performance indicators is provided on pages 57, 58 of the Annual Report 2022 of 11 AG.