freenet financial year 2025

Always the right choice.

Drei Mitarbeiter in grünem Freenet-Poloshirt lächeln in einem modernen Laden mit Freenet-Logo und Zubehör.
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Mobile Communications: +300 thousand postpaid customers – over 8 million customers have made the right choice
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waipu.tv: adj. EBITDA from zero to EUR 36 million – IPTV business scales up
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Dividend: EUR 2.07 per share – freenet increases dividend for the fifth consecutive year
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Executive Board streamlining: Faster decisions, reduced complexity
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Mobile Communications: +300 thousand postpaid customers – over 8 million customers have made the right choice
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waipu.tv: adj. EBITDA from zero to EUR 36 million – IPTV business scales up
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Dividend: EUR 2.07 per share – freenet increases dividend for the fifth consecutive year
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Executive Board streamlining: Faster decisions, reduced complexity

freenet in transition

Executive Board duo with a clear focus

“In 2025, we strategically sharpened freenet’s focus with performance‑based brand marketing, a stronger emphasis on mobile communications sales and a clear AI‑first approach. This makes freenet faster, more effective and more customer‑centric. Our sharpened focus is already reflected in customer growth: we gained more than 300 thousand postpaid customers in the past year. At the same time, waipu.tv remains our key growth driver with outstanding EBITDA development. We are well on track to continue actively shaping the future of the Mobile Communications and IPTV market.”

Robin Harries, CEO
Mann in dunkelblauem Anzug lehnt sich lächelnd an eine große Betonstruktur in modernem Gebäude.
Mann in dunkelblauem Anzug lehnt sich lächelnd an eine große Betonstruktur in modernem Gebäude.

“We are strengthening our solid financial basis for sustainable growth by concentrating on our core business, setting clear investment priorities, increasing EBITDA contribution in the IPTV business and maintaining a reliable dividend policy. We are managing the post-merger integration of mobilezone Germany and the developments in the Mobile Communications market with a consistent focus on long‑term value creation. Even though the guidance for 2025 has not been fully achieved, freenet remains financially stable, forward‑looking and clearly committed to future growth.”

Ingo Arnold, CFO

Corporate Governance bei der freenet AG

Der Aufsichtsrat steht für klare Prozesse, transparente Entscheidungen und eine verantwortungsvolle Kontrolle des Vorstands.

Hier gelangen Sie zur Corporate Governance Seite der freenet AG

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Robin Harries, CEO

“In 2025, we strategically sharpened freenet’s focus with performance based brand marketing, a stronger emphasis on mobile communications sales and a clear AI first approach. This makes freenet faster, more effective and more customer centric. Our sharpened focus is already reflected in customer growth: we gained more than 300 thousand postpaid customers in the past year. At the same time, waipu.tv remains our key growth driver with outstanding EBITDA development. We are well on track to continue actively shaping the future of the Mobile Communications and IPTV market.”

Ingo Arnold, CFO

“We are strengthening our solid financial basis for sustainable growth by concentrating on our core business, setting clear investment priorities, increasing EBITDA contribution in the IPTV business and maintaining a reliable dividend policy. We are managing the post-merger integration of mobilezone Germany and the developments in the Mobile Communications market with a consistent focus on long term value creation. Even though the guidance for 2025 has not been fully achieved, freenet remains financially stable, forward looking and clearly committed to future growth.”

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Strategic course setting

Focus on realignment and efficiency

Mann in dunkelblauem Anzug lehnt sich lächelnd an eine große Betonstruktur in modernem Gebäude.

“2025 was a year of realignment and clear decisions. With the appointment of Robin Harries as the new Chief Executive Officer, we set the strategic course early and deliberately to strengthen the company and make it more efficient. His appointment marked an important step in ensuring both continuity and long-term viability.”

Marc Tüngler, Chairman of the Supervisory Board

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Annual General Meeting 2026

Eingang eines modernen Gebäudes mit großen Glasfenstern, darüber ein grünes Schild mit der Aufschrift ‚Hauptversammlung 2026 der Freenet AG‘.

The Annual General Meeting of freenet AG will take place on 13 May 2026 at the Congress Center Hamburg. We look forward to welcoming our shareholders and continuing the dialogue on the future development of the company.

Corporate Governance bei der freenet AG

Der Aufsichtsrat steht für klare Prozesse, transparente Entscheidungen und eine verantwortungsvolle Kontrolle des Vorstands.

Hier gelangen Sie zur Corporate Governance Seite der freenet AG

Marc Tüngler, Chairman of the supervisory board

“2025 was a year of realignment and clear decisions. With the appointment of Robin Harries as the new Chief Executive Officer, we set the strategic course early and deliberately to strengthen the company and make it more efficient. His appointment marked an important step in ensuring both continuity and long term viability.”

Learn More

Annual General Meeting 2026

Eingang eines modernen Gebäudes mit großen Glasfenstern, darüber ein grünes Schild mit der Aufschrift ‚Hauptversammlung 2026 der Freenet AG‘.

The Annual General Meeting of freenet AG will take place on 13 May 2026 at the Congress Center Hamburg. We look forward to welcoming our shareholders and continuing the dialogue on the future development of the company.

Annual General Meeting
2026

The Annual General Meeting of freenet AG will take place on 13 May 2026 at the Congress Center Hamburg. We look forward to welcoming our shareholders and continuing the dialogue on the future development of the company.

Eingang eines modernen Gebäudes mit großen Glasfenstern, darüber ein grünes Schild mit der Aufschrift ‚Hauptversammlung 2026 der Freenet AG‘.

Brandformance

klarmobil’s path to greater visibility, relevance and performance

Abspielsymbol mit weißem Dreieck auf dunkelblauem Kreis
SIM-Only TV commercial for the Klara campaign – On air: 25 December 2025 – 14 January 2026
In 2025, freenet introduced “Klara”, a new campaign character for klarmobil. She stands for honest, clear and price conscious mobile tariffs without unnecessary complexity, making mobile communications more understandable and accessible. The campaign marks a turning point: instead of broad brand communication, Klara focuses on performance with clear messages, direct calls to action, limited offer mechanisms and a simple user experience. “Klara” embodies a new chapter – marketing that works more efficiently, optimises faster and reaches customers precisely where they make their decisions today.

Highlights 2025

More than
300
thousand postpaid customers gained
freenet serves over 8 million postpaid customers and recorded outstanding organic growth in 2025: with more than 300 thousand net new subscribers, the previous year’s level was exceeded by nearly 70%. This exceptional customer growth highlights the successful realignment of sales marketing and our strong market penetration in Mobile Communications. In total, freenet gained more than 546 thousand net new customers, around 240 thousand of which were attributable to the acquisition of mobilezone Germany.
Dividend per share of at least
EUR 2
announced for 2026
Our new dividend policy for 2026 to 2028 – at least EUR 2 per share or 80% of adj. free cash flow – provides shareholders with a high level of planning security. The higher amount per share will be distributed.
waipu.tv EBITDA rises from zero to
EUR 36
million
The IPTV business is demonstrating its scalability: waipu.tv’s adj. EBITDA rose to EUR 36 million in 2025 – from almost zero in the prior year. waipu.tv is thus becoming a key driver of sustainable, profitable growth momentum.
On the way to becoming the
AI‑first
company in the German telecommunications market
AI creates additional value in sales: data models analyse usage patterns, identify suitable tariff options and support targeted customer communication across all channels. This makes marketing and sales campaigns more efficient and enables stronger integration of online and offline channels. At the same time, digitalising processes – from service and sales to product development – leads to efficiency gains and enhances the customer experience.
Schwarzer Download-Pfeil auf grünem Hintergrund.

Product Highlights 2025

Junger Mann mit Kopfhörern zeigt freudige Geste und schaut auf Handy vor einem Gebäude mit Glaswand.
Unlimited Mobile – the new platform for unlimited data freedom
Frau in grüßem T-Shirt und Jeans sitzt lächelnd auf einem Sofa und hält eine Fernbedienung in einem modernen Wohnzimmer.
waipu.tv & Stick 2.0 – leading IPTV solution for modern television
mobilfunk.de – a new platform for transparent tariff orientation
FUNK – a new generation of fully digital tariff flexibility

Sustainability at freenet

Progress towards the 1.5‑degree target

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Our ambition
Reduce our direct GHG emissions by 70% by 2030
Learn More
Smartphone mit angeschlossenem Ladekabel liegt auf grauem Stoff, umgeben von grünen Blättern.

Downloads and Links

Corporate News
Webcast
Presentation
2025 Annual report (will follow)  
2025 Non-financial group statement (will follow)  
2025 Consolidated financial statements (will follow)  
Eingang eines modernen Gebäudes mit großen Glasfenstern, darüber ein grünes Schild mit der Aufschrift ‚Hauptversammlung 2026 der Freenet AG‘.

Haupt­versammlung 2026

Die ordentliche Hauptversammlung 2026 der freenet AG findet am 13. Mai 2026 in Hamburg (Congress Center Hamburg) statt.
Weißes X-Symbol auf grünem Kreis als Schließen- oder Abbrechen-Button.

freenet in transition

Key highlights of the 2025 financial year

Transformation

Strategic realignment and leadership with a clear agenda

In 2025, the Supervisory Board strategically realigned freenet and set key course directions for growth. The streamlined Executive Board structure enables faster decision‑making and reduces complexity. At the same time, we are positioning the company to establish freenet as an AI‑first company in the German telecommunications market.

Value creation

Focus on sales expertise and value‑oriented capital allocation

We invest specifically in our core competence: the distribution of subscriptions. Resources are concentrated on areas with maximum value contribution, while strategically irrelevant activities are systematically divested or realigned. This creates a clear, growth‑oriented structure.

Sales force

Customer growth in Mobile Communications through effective sales strategy

With the acquisition of mobilezone Germany, a consistent multi-brand strategy and the switch to performance-based brand marketing, we significantly strengthened our market position. This focus is driving dynamic growth – we now serve over 8 million postpaid customers, 546 thousand more than at the end of the previous year.

Scaling

Growth through a scalable IPTV business model

waipu.tv is evolving into a key financial growth driver: with nearly 2 million households and adj. EBITDA rising from zero to EUR 36 million, the platform demonstrates high scalability. From 2026 onwards, waipu.tv will be reported as a separate segment – a clear indication of its strategic relevance.

AI-first

Leading the market through technological excellence

We are consistently aligning freenet with the AI first principle. The use of artificial intelligence enables us to optimise processes, increase efficiency and offer our customers a personalised experience. This enhances our speed and precision and opens up new opportunities for differentiation. It forms the foundation for sustainable growth and long-term customer value maximisation.

Ambition

Reliable dividend policy and clear targets

For the years 2026 to 2028, we guarantee our shareholders a minimum dividend of EUR 2 per share or – whichever is higher – a distribution of 80% of adj. free cash flow. Our ambition for the 2028 financial year remains an adj. EBITDA of over EUR 620 million and free cash flow of more than EUR 340 million. For 2026, we expect adj. EBITDA of EUR 500 to 530 million and adj. free cash flow of EUR 270 to 300 million. A significant increase is expected particularly in the IPTV segment.
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Weißes X-Symbol auf grünem Kreis als Schließen- oder Abbrechen-Button.

Strategic course setting

Focus on realignment and efficiency

“2025 was a year of realignment and clear decisions. With the appointment of Robin Harries as the new Chief Executive Officer, we set the strategic course early and deliberately to strengthen the company and make it more efficient. His appointment marked an important step in ensuring both continuity and long-term viability.

The Supervisory Board closely supported, guided and monitored Robin Harries during this transition phase. With the reduction of the Executive Board from six to two members, the company is now positioned with a lean structure and a strong focus on future viability. In this period of change, the Supervisory Board aims to provide reliability and stability to support the company’s continued positive development. This consistency is essential to minimise risks and provide the new Executive Board team with reliable framework conditions.

Robin Harries brought fresh momentum, clear priorities and strong operational expertise to freenet in 2025. Our role was to provide guidance, ensure transparency and safeguard the Executive Board’s scope for action. In this way, we used 2025 to create a robust foundation for sustainable growth.”

Weißes X-Symbol auf grünem Kreis als Schließen- oder Abbrechen-Button.

Brandformance

klarmobil’s path to greater visibility, relevance and performance

Abspielsymbol mit weißem Dreieck auf dunkelblauem Kreis
Weißes X-Symbol auf grünem Kreis als Schließen- oder Abbrechen-Button.

Product Highlights 2025

Unlimited Mobile – the new platform for unlimited data freedom

Unlimited Mobile was a key driver of freenet’s mobile communications portfolio in 2025. The new network independent platform for unlimited data tariffs provided a clear differentiator in a highly fragmented market, standing out through its deliberately simple and transparent tariff model.
Click here to go to the product page
Weißes X-Symbol auf grünem Kreis als Schließen- oder Abbrechen-Button.

Product Highlights 2025

waipu.tv & Stick 2.0 – leading IPTV solution for modern television

waipu.tv remained a key growth driver in freenet’s TV and media segment in 2025, significantly advancing the transition from traditional cable TV to modern IPTV. The platform impressed with over 320 channels, an optimised product architecture and, in particular, the waipu.tv Stick 2.0, which was newly launched in 2025 and significantly changed the user experience as a major hardware innovation. The Stick 2.0 makes it much easier to enter the world of IPTV, offering higher performance, an intuitive interface and a seamless streaming experience. This targeted hardware launch strengthens its differentiation from conventional reception solutions and at the same time increases usage intensity.
Waipu TV Logo
Click here to go to the product page
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Product Highlights 2025

mobilfunk.de – a new platform for transparent tariff orientation

With mobilfunk.de freenet established a new digital tariff and comparison platform in 2025, significantly advancing the strategic development of digital sales. The platform bundles and presents the company’s highlight tariffs from major German mobile networks in a clear and customer centric way, setting a new differentiating factor in the highly competitive tariff market.
Click here to go to the product page
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Product Highlights 2025

FUNK – a new generation of fully digital tariff flexibility

The relaunch of FUNK in November 2025 marked a major innovation step in freenet’s app based mobile offering. The new version became faster, more intuitive and even more focused on a consistently digital user experience. With a radically simplified tariff concept, maximum flexibility and daily control options, FUNK specifically meets the needs of digitally savvy customers The modernised FUNK ecosystem not only strengthened freenet’s position in the app-only tariff segment, but also contributed measurably to differentiation within the multi-brand portfolio.
Click here to go to the product page
Weißes X-Symbol auf grünem Kreis als Schließen- oder Abbrechen-Button.

Sustainability at freenet

Progress towards the 1.5‑degree target

In our latest sustainability report, we transparently present for the second time how we are systematically reducing our direct greenhouse gas emissions (Scope 1 & 2) in line with the 1.5-degree target. Our ambition is to reduce these emissions by more than 70% by 2030 compared to our base year (2022).
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Key levers include the electrification of our vehicle fleet and the consistent expansion of renewable energy in our electricity supply. Since 2022, we have already reduced our emissions by 31%.
Ein Mann lädt ein blaues Elektroauto an einer Ladestation auf, das Auto trägt das freenet-Logo und Symbole für Nachhaltigkeit.

At the end of 2025, the electrification rate of our vehicle fleet was 23%, resulting in a reduction of approximately 300 tonnes. By 2030, we aim to reduce these emissions by more than 95% compared to the base year.

In the base year, the share of renewable electricity already amounted to 97.3%. We are now gradually converting the remaining locations, reaching more than 99% by year-end – saving an additional 1,038 tonnes.

You can find the detailed transition plan for achieving our climate targets here.
Plan for our climate targets