freenet (FNTN) AGM 2025 summary

Opening remarks and agenda

• AGM opened with a welcome to shareholders, management, and supervisory board members, confirming full attendance and proper convening.

• Organizational details covered, including voting procedures, attendance, and electronic participation.

• Agenda included financial statements, management and supervisory board reports, and proposals for capital authorization.

Financial performance review

• 2024 EBITDA reached EUR 521 million, exceeding forecasts, with free cash flow at EUR 292 million.

• Revenue rose to EUR 2.48 billion, driven by mobile and TV/media segments; waipu.tv saw strong customer growth.

• Earnings per share increased to EUR 2.50; total assets at year-end were EUR 3.34 billion, equity ratio improved to 44.4%.

• Shareholder return for 2024 was +16%, outperforming MDAX and TecDAX.

Board and executive committee updates

• CEO Christoph Vilanek announced this AGM as his last, reflecting on 16 years of leadership and company milestones.

• Robin Harries named as incoming CEO, expected to assume the role by June 2025.

• Supervisory Board highlighted the successful transition to KPMG as auditor and praised the audit committee's work.