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United Internet beats on third-quarter core profits, buoyed by M&A
November 13, 2017 / 9:59 PM / 6 days ago

United Internet beats on third-quarter core profits, buoyed by M&A

FRANKFURT (Reuters) - German internet service provider United Internet (UTDI.DE) reported a forecast-beating rise in third-quarter core earnings and booked one-off gains related to its acquisition of budget mobile firm Drillisch (DRIG.DE).

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 19.6 percent to 254 million euros ($296 million), compared to the average forecast of analysts in a Reuters poll of 238 million euros.

Sales were up 11.3 percent to 1.05 billion euros, just shy of an average forecast of 1.07 billion euros.

The company, led by CEO Ralf Dommermuth, had said after its last quarterly results that it would focus on integrating Drillisch and another recent acquisition, internet hosting provider Strato, before considering further buys.

Nine month core profits were buoyed by an additional 304 million euro extraordinary gain, chiefly from a revaluation of shares in Drillisch.

The company forecast EBITDA for the year as a whole of between 970 million and 1 billion euros, plus extraordinary results related to its M&A deals.

Reporting by Douglas Busvine. Editing by Andreas Cremer.

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