Drillisch H1 Profit Rises, Service Revenue Up 17.7%; Confirms Outlook

(RTTNews) - Drillisch AG (DRHKF.PK) reported that its first-half consolidated results increased to 22.8 million euros from 17.2 million euros, prior year. Profit per share was 0.39 euros compared to 0.31 euros. EBITDA (adjusted) was up 44.9% to 74.0 million euros. Adjusted consolidated profit after taxes improved by 68.6% to 29.0 million euros from 17.2 million euros. Adjusted profit per share was 0.50 euros compared to 0.31 euros.

Drillisch has improved its service revenue in the first six months of the financial year by 17.7 percent to 307.8 million euros compared to 261.6 million euros, prior year. The company said the decline in overall revenue by 8.8% to 311.3 million euros from 341.3 million euros, last year, is a consequence of the restructuring of subsidiary Phone House.

In the first half of 2017, subscriber base increased by 768,000 subscribers or 25.6% to 3.771 million from 3.003 million subscribers, previous year. The total number of MVNO subscribers grew by 785,000 or 26.9% to 3.707 million subscribers from 2.922 million subscribers.

Looking forward, the company said its plans for fiscal 2017 foresee an increase in the EBITDA to a figure between 160 million and 170 million euros. The Management Board expects a further increase in the MVNO customer base for 2017 (on a stand-alone basis, before the complete takeover of 1&1).