1&1 AG — Earnings Release 2011

Mar 22, 2012

News Details

Ad-hoc | 22 March 2012 22:33

Drillisch AG reports Final 2011 Report (IFRS) and propose the third dividend increase in succession

Drillisch AG / Key word(s): Final Results/Dividend

22.03.2012 22:33

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Drillisch AG reports Final 2011 Report (IFRS)

Maintal, 22 March 2012

During the past fiscal year, Drillisch AG was able to continue the unbroken
success of past years and to exceed the targets. Overall, the Company's
development was better than that of the general market. The transformation
in our operations from the former position as a classic service provider
(MSP) to that of a mobile virtual network operator (MVNO) in the Telefónica
O2 and Vodafone networks which was launched in the fourth quarter of 2010
is the implementation of an important strategic decision. Initial positive
results became evident in 2011. We have now laid a solid foundation so that
we will be able to continue profitable growth with our innovative products
and services in the future as well.

Outlook 2012
We expect an increase in revenue in the sector of 'service revenues' and an
adjusted EBITDA of about EUR58 million for 2012. As far as we can see at
this time, these positive developments in earnings in business operations
will continue in 2013 as well.

Dividend forecast
In view of this positive development, we are able to offer to our
shareholders a reasonable and attractive return on their capital. That is
why we will, with the approval of the Advisory Board, propose the third
dividend increase in succession to the upcoming Annual General Meeting,
this time to EUR0.70 per share for the past fiscal year 2011; this proposal
follows the dividends of EUR0.50 and EUR0.30 per share in the previous
years.

Financial Liabilities (per 31/12/2011)
In the course of acquiring additional stock in freenet, so-called
non-recourse agreements were concluded, i.e. loans excluding the
possibility of recourse to the other assets of Drillisch AG, as shown
below.

As per 31 December 2011, the amount of the utilisation of loans with the
possibility of recourse for Drillisch AG amounted to EUR59.6 million. The
loan agreement provides a maximum possible credit line of EUR100.0 million
and its term runs until 15 October 2014. Moreover, MSP Holding GmbH, a
wholly-owned subsidiary of Drillisch AG, holds loans related to freenet
stock in the amount of EUR91.6 million; with the exception of the freenet
stock to which the loan is related, there is no recourse possible in this
case, and it also contains a hedge against price fluctuations of the
freenet stock.

The degree of net indebtedness (Net Debt / EBITDA) of 0.75 is based on the
loan with possible recourse utilised by Drillisch AG per 31 December 2011
and is significantly better than usual in the peer group as a whole. This
is an expression of the excellent financial flexibility of the Drillisch
Group.

Drillisch Group Figures Based on IFRS

In EURm 2011 2010
Turnover 349.1 362.5
Service Revenues 303.1 277.5
Other Revenues 46.0 85.0
EBITDA 51.4 46.1
EBITDA adjusted 52.6 49.3
EBIT 48.1 40.4
EBT 52.3 42.6
Consolidated results 41.0 31.0
EPS 0.77 0.58
EBITDA margin in % of turnover 14.7 12.7
EBITDA margin (adjusted) in % of turnover 15.1 13.6
EBIT margin in % of turnover 13.8 11.1
EBT margin in % of turnover 15.0 11.8
Consolidated profit margin in % of turnover 11.8 8.6
Equity ratio (equity in % of balance sheet total) 41.9 51.5
Return of Equity (ROE) (ratio Group result to equity) 29.2 20.9
Cash-flow from current business operations in EURm 20.0 40.8
Depreciation excluding goodwill in EURm 3.4 5.7
Investments (in tangible and intangible fixed assets) 2.8 4.0
adjusted in EURm
Staff as annual average (incl. Management Board) 329 379
Subscribers (in thousands) as per 31/12 2,550 2,431
Therof Debit 1,038 1,240
Therof Credit 1,512 1,191

The Annual Report will be published on 23 March on the Internet; log on to:
http://www.drillisch.de/index.php?page=reports&group=investor-e:reports

Maintal, 22 March 2012

Drillisch AG

The Management Board

Contact:
Oliver Keil
Head of Investor Relations
Mail: ir@drillisch.de

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Language: English
Company: Drillisch AG
Wilhelm-Röntgen-Straße 1-5
63477 Maintal
Germany
Phone: +49 (0)6181 412 200
Fax: +49 (0)6181 412 183
E-mail: ir@drillisch.de
Internet: www.drillisch.de
ISIN: DE0005545503
WKN: 554550
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of Announcement DGAP News-Service

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