freenet AG

freenet AG surpassed 10 million subscribers in the first half of 2026, adding 140,000 net new subscribers, with 34,000 mobile and 35,000 IPTV additions in Q2. Adjusted EBITDA increased by almost 40% in H1 2026, driven by waipu.tv and the mobilezone acquisition, while group revenue grew nearly 25%. Free cash flow reached EUR155 million, and the company reiterated a minimum dividend of EUR2 per share for 2026 to 2028, expected to rise to EUR2.3 in 2028. However, mobile gross profit declined due to an unfavorable MNO agreement, and ARPU is expected to continue declining through 2027.