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Annual Report 2020 SELECTED KEY FIGURES

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Annual Report 2020 SELECTED KEY FIGURES Annual Report 2020 SELECTED KEY FIGURES 2020 2019 NET INCOME (in € million) Sales 5,367.2 5,194.1 EBITDA(1) 1,178.8 1,244.2 EBIT(1) 704.5 770.2 EBT(1) 656.9 720.3 BALANCE SHEET (in € million) Current assets 1,636.9 1,371.2 Non-current assets 7,594.0 7,757.6 Equity 4,911.2 4,614.7 Total assets 9,230.8 9,128.8 CASH FLOW (in € million) Operative cash flow 954.1 935.0 Cash flow from operating activities 925.7 828.9 Cash flow from investing activities - 361.1 87.2 Free cash flow(2) 376.6 496.0 EMPLOYEES (HEADCOUNT) Employees, total 9,638 9,374 thereof in Germany 7,929 7,761 thereof abroad 1,709 1,613 Personnel expenses (in Mio. €) 592.3 552.8 SHARE (in €) Share price at year-end (Xetra) 34.43 29.28 Operating EPS(1) 1.76 1.88 EPS 1.55 2.13 Customer contracts (in million) 31.12.2020 31.12.2019 Fee-based customer contracts, total 25.65 24.74 Consumer Access, total contracts 14.83 14.33 thereof mobile internet 10.52 9.99 thereof broadband connections 4.31 4.34 Consumer Applications, total accounts 41.77 39.85 thereof with Premium Mail subscription (contracts) 1.63 1.54 thereof with Value-Added subscription (contracts) 0.74 0.72 thereof free accounts 39.40 37.59 Business Applications, total contracts 8.45 8.15 thereof Germany 4.06 3.90 thereof abroad 4.39 4.25 (1) 2020 without write-off VDSL contingents (EBITDA/EBIT/EBT effect: € -129.9 million; EPS effect: € -0.37) and without impairment reversals Tele Columbus (EBT effect: € +29.2 million; EPS effect: +0.16 €); 2019 without sale of virtual minds shares (EBITDA/EBIT/EBT effect: € +21.5 million; EPS effect: € +0.11), without trademark writeups Strato (EBIT/EBT effect: € +19.4 million; EPS effect: € +0.05) and without impairment reversals Tele Columbus (EBT effect: € +18.5 million; EPS effect: +0.09 €) (2) Free cash flow 2020 incl. the repayment portion of lease liabilities (€ 107.2 million), which have been reported under cash flow from financing activities since the fiscal year 2019 (IFRS 16); Free cash flow 2019 without consideration of tax payments from fiscal year 2017 and previous years (effect: € -22.1 million); incl. the repayment portion of lease liabilities (effect: € 111.0 million), which have been reported under cash flow from financing activities since the financial year 2019 (IFRS 16) CONTENT 4 MANAGEMENT 144 FINANCIAL STATEMENTS 4 Letter to our shareholders 146 Balance sheet 8 Interview with Ralph Dommermuth 148 Net income 10 Report of the Supervisory Board 150 Cash flow 152 Changes in shareholders’ equity 154 Notes to the consolidated financial 17 UNITED INTERNET AT A GLANCE statements 18 Vision 266 Development of fixed assets 18 Business model 20 Internet Factory 270 Independent Auditor‘s report 20 Success factors 279 Responsibility statement 21 Growth opportunities 280 MISCELLANEOUS 32 MANAGEMENT REPORT 280 Locations 34 Company and Group profile 282 Glossary 34 Business model 284 Imprint 43 Strategy 285 Financial Calendar 44 Control systems 45 Main focus areas for products and innovations 48 Economic report KEY FIGURES 48 General economic and sector conditions 2 Selected key figures 57 Business development 286 Net income by quarter 76 Position of the Group 287 Multi-period overview of key figures 87 Position of the Company 89 Corporate Responsibility 90 Subsequent events 93 Risk, opportunity and forecast report 93 Risk report 106 Opportunity report 110 Forecast report SIGNS AND SYMBOLS 115 Accounting-related internal control and risk management system Internet Link 117 Disclosures required by takeover law A 124 Declaration of company management Glossary 137 Remuneration report 142 Dependent company report Page Reference 4 LETTER TO THE SHAREHOLDERS Dear shareholders, employees, and friends of United Internet, In the fiscal year 2020, United Internet once again made significant investments in new customer contracts and the expansion of existing customer relationships – and thus in sustainable growth. All in all, we increased the number of fee-based customer contracts organically by 910,000 to 25.65 million contracts. Of this total, 500,000 were added in the Consumer Access segment and 300,000 contracts in the Business Applications segment. A further 110,000 contracts and 1.81 million ad-financed free accounts were added in the Consumer Applications segment. Consolidated sales grew by 3.3% in the fiscal year 2020, from € 5,194.1 million in the previous year to € 5,367.2 million. The development of sales was impeded by the effects of the coronavirus pandemic, which had an overall negative impact on the Consumer Access and Consumer Applications segments. There were opposing positive effects in the Business Access segment. Adjusted for these pandemic effects, like-for-like sales rose by 3.8%. Earnings in 2020 and 2019 were impacted by various special items. The one-off, non-cash write-off of remaining VDSL contingents for existing customers in 2020 (€ -129.9 million) was opposed by income from the sale of shares in virtual minds in the previous year (€ +21.5 million). Adjusted for these special items, consolidated EBITDA of € 1,178.8 million for the fiscal year 2020 was 5.3% down on the prior-year figure (€ 1,244.2 million). This decline was mainly due to the price increase introduced by Telefónica Germany on July 1, 2020 for the use by 1&1 Drillisch AG of Telefónica’s network capacity under the MBA MVNO agreement. In addition to this price rise, which will be reduced retroactively by € 34.4 million on the planned conclusion in May 2021 of a national roaming agreement with Telefónica (out-of-period recognition in fiscal 2021), earnings of 1&1 Drillisch were mainly burdened by initial costs for the rollout of the 5G network, as well as by effects from regulatory decisions. On top of this, the coronavirus pandemic also had a negative impact on earnings. Adjusted additionally for these negative effects, like-for-like EBITDA was 1.3% above the prior-year figure. Similarly influenced by excessive MBA invoicing and the aforementioned effects, consolidated EBIT of € 704.8 million also fell short of the prior-year figure (€ 770.2 million – without trademark writeups for Strato). Adjusted for these effects, like-for-like EBIT was up 2.1% on the previous year. Earnings per share (EPS) for the fiscal year 2020 fell from € 2.13 in the previous year to € 1.55. There was an overall negative impact on EPS in 2020 (EPS effect: € -0.21) from the non-cash write-off of VDSL contingents still available and – with an opposing effect – impairment reversals for Tele Columbus, whereas in the previous year EPS was positively impacted in total by the sale of virtual minds shares, the trademark writeups for Strato, and impairment reversals for Tele Columbus (EPS effect: € +0.25). Adjusted for these effects, operating EPS decreased by 6.4% from € 1.88 to € 1.76. In addition to our operating business, the fiscal year 2020 was dominated by preparations for the construction of our own mobile communications network and the ongoing negotiations on national roaming with Telefónica Germany, needed for the transition period as we gradually establish our network. In an ad-hoc announcement on February 15, 2021, we reported that 1&1 Drillisch would accept Telefónica Germany’s offer – improved following a review by the EU Commission – for national roaming and the related MBA MVNO advance services. The terms offered by Telefónica with retroactive effect from July 2020 will therefore be based in future once more on the pricing mechanisms of the first five years of the MBA MVNO agreement. In particular, the offer again includes annually decreasing data prices, which are lower than the prices charged by Telefónica in the second half of 2020. The AT A GLANCE MANAGEMENT REPORT FINANCIAL STATEMENTS MISCELLANEOUS 5 MANAGEMENT Letter to shareholders CEO Interview Report of the Supervisory Board conclusion of an agreement, which Telefónica’s offer expects in May 2021, would constitute a further essential prerequisite for the planned rollout of a high-performance 5G network. Shared use of the Telefónica network ensures our customers can already enjoy nationwide mobile coverage during the construction phase of our own network. In the same ad-hoc announcement, we reported that 1&1 Drillisch planned to expand its fiber-optic offerings and would in future receive VDSL and FTTH advance services (fiber-to-the-home/FTTH) from its affiliate 1&1 Versatel. For this purpose, 1&1 Drillisch has entered into an agreement with 1&1 Versatel regarding the long-term purchase of FTTH and VDSL complete packages including Voice and IPTV effective from April 1, 2021. At the same time, 1&1 Versatel has entered into an agreement with Deutsche Telekom on the use of its FTTH and VDSL connections for households. These enable 1&1 Versatel to provide FTTH/VDSL complete packages for 1&1 Drillisch, as 1&1 Versatel’s nationwide fiber-optic transport network is largely connected to the local broadband networks of Deutsche Telekom. In addition to the existing access to FTTH connections of well-known city carriers, 1&1 Versatel will thus have initial access to approx. 750,000 additional FTTH connections. The number of marketable FTTH connections of Deutsche Telekom is expected to increase by an average of 2 million households per year in the coming years. FTTH connections for private households enable bandwidths of up to 1Gbit/s. Households not yet equipped with FTTH will be supplied with VDSL connections (up to 250 Mbit/s).
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