mobilezone lowers earnings forecast for 2024 – One-off effects and adjustments – Dividend of CHF 0.90 per registered share confirmed – Video conference today at 09.15 a.m.
mobilezone holding ag / Key word(s): Profit Warning PRESS RELEASE Ad hoc announcement pursuant to Art. 53 LR Rotkreuz, 13 December, 2024 In the second half of 2024, mobilezones results fell short of expectations, particularly in Germany. The company is therefore updating its forecast for the 2024 financial year, expecting sales of CHF 960 to CHF 990 million and EBIT adjusted for one-off effects of CHF 52 to CHF 57 million (previously: at least CHF 68 million). Recurring sales are expected to grow by 5.6% to CHF 143 million. The MVNO customer base at the end of 2024 is expected to be in the region of 370,000; this corresponds to a net increase of around 75,000 or +25% compared to the previous year. Switzerland Roger Wassmer, CEO mobilezone Switzerland, says: "The retail business in Switzerland has lost sales volume at our points of sale in 2024. For the current year, we expect reduced personnel and other operating costs of over CHF 4.0 million. We anticipate a recovery in sales volumes in 2025." Germany As a result of these developments, restructuring measures were decided which will lead to additional expenses of around CHF 2.4 million in the current financial year. The measures underline the consistently pursued strategy of cost efficiency and will strengthen the profitability of mobilezone in Germany and the entire Group in the medium term. The MVNO customer base (HIGH and simyo) at the end of the year is expected to be around 190,000. This corresponds to a net increase of around 45,000 or +30% compared to the previous year. Wilke Stroman, CEO Germany, says: "Some of the competitor offers in the online business were so aggressive that positive contribution margins could only be realized by including the annual volume targets with the network operators. Thanks to the measures we have introduced, we expect contribution margins to improve in 2025." Negative one-off effects will have an additional negative impact on EBIT 2024 totaling CHF 6.0 million.
The financial result will also be negatively impacted by a book loss of CHF 2.4 million from the sale of the 25% stake in einsAmobile GmbH in November 2024. Other extraordinary, non-cash effects will lead to adjustments of CHF 17 to 23 million in the 2024 financial year, some of which will be recognized in profit or loss. The effects result from the change in the accounting treatment of capitalized IT platforms in Switzerland and Germany as well as the MVNO HIGH (the figures are estimates and may still change).
Successful 10 years of mobilezone in Germany Dividend and outlook In Germany, 2025 will be used as a transition year for the implementation of the structural adjustments. The EBIT target margin of 8% for 2025 for the entire Group will be suspended. The company will now communicate target margins per segment, for the first time with the publication of the 2024 annual figures on 7 March 2025. With a net debt to EBITDA ratio of less than 2 at the end of 2024, the mobilezone Group will remain solidly financed. The 2025 share buyback program will be suspended in line with 2024. A video conference for investors, analysts and media representatives will take place today, 13 December 2024, at 9:15 a.m. in German. Registration for participation is possible via the following link. Contact for analysts, investors and media representatives
About mobilezone End of Inside Information |
Language: | English |
Company: | mobilezone holding ag |
Suurstoffi 22 | |
6343 Rotkreuz | |
Switzerland | |
Phone: | 041 400 24 24 |
E-mail: | mobilezoneholding@mobilezone.ch |
Internet: | mobilzoneholding.ch, mobilezon.ch |
ISIN: | CH0276837694 |
Valor: | A14R33 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 2050473 |
End of Announcement | EQS News Service |
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2050473 13-Dec-2024 CET/CEST