1&1 AG (ISIN: DE0005545503, reference 0E6Y), the Montabaur-based German telecommunications provider and part of the United Internet Group, has published its nine-month figures for 2026, reporting total revenue up 1.2% to €3,401.8 million and comparable operating EBITDA rising 11.4% to €593.3 million. The results were affected by €60.0 million in non-recurring charges linked to a transformation and restructuring programme at subsidiary 1&1 Versatel. The company confirmed its full-year 2026 forecast and reiterated its outlook for 2027 and 2028, targeting approximately €100 million of additional operating EBITDA per year.

Key Points

  • 1&1 AG (0E6Y), ISIN DE0005545503, listed on the Frankfurt Stock Exchange Prime Standard and included in the SDAX index
  • Nine-month 2026 comparable operating EBITDA rose 11.4% to €593.3 million, with total revenue up 1.2% to €3,401.8 million
  • Full-year 2026 EBITDA forecast revised to approximately €740 million; comparable operating EBITDA target remains around €800 million; cash capex guided at €500–550 million
  • Investors should monitor progress of the 1&1 Versatel restructuring programme and the pace of the company's Open RAN 5G network roll-out in Germany

Mobile Contract Decline and Broadband Growth Shape 1&1 AG's Nine-Month 2026 Customer Base

1&1 AG recorded a net decline of 240,000 mobile internet contracts over the first nine months of 2026, bringing the total to 12.24 million. The company attributed this reduction primarily to the repositioning of its discount tariff portfolio in April 2026, which involved discontinuing marketing of particularly low-cost tariffs and reducing data allowances on higher-performance plans. Partially offsetting this, broadband contracts grew by 20,000 to reach 3.86 million. Total customer contracts across all products stood at 16.10 million at the end of the period, compared with 16.34 million on a comparable prior-year basis.

1&1 Versatel Restructuring Charges Weigh on Reported EBITDA Despite Strong Underlying Earnings Growth

Non-recurring expenses of approximately €60.0 million related to 1&1 Versatel's transformation and restructuring programme reduced reported EBITDA to €533.3 million for the nine-month period. Stripping out those charges, comparable operating EBITDA reached €593.3 million, up from €532.8 million in the prior-year comparable period. The Enterprises and Networks segment, which houses 1&1 Versatel, improved its operating EBITDA significantly to -€4.9 million from -€78.2 million, while the Consumer and Small Business segment posted a 2.1% decline to €598.2 million, partly due to a -€16.5 million impact from the discontinuation of cost capitalisation following a change of roaming partner.

Operating EPS Rises to €0.30 as Cash Capex Falls to €359.3 Million Amid Open RAN 5G Roll-Out

Comparable operating earnings per share increased to €0.30 for the nine-month period, up from €0.06 on a prior-year comparable basis, with operating EBIT rising to €179.3 million from €102.6 million. Cash capex of €359.3 million was meaningfully lower than the comparable prior-year figure of €437.4 million. 1&1 is building Europe's first fully virtualised, cloud-based Open RAN 5G mobile network and operates approximately 70,000 kilometres of fibre-optic routes across more than 350 German cities, assets central to its long-term competitive positioning and revenue model.

1&1 AG Confirms 2026 Forecast and Guides for €100 Million Annual EBITDA Growth Through 2028

For the full year 2026, 1&1 AG expects service revenue to remain at the prior-year level of €3,661.8 million and guides reported EBITDA of approximately €740 million, with comparable operating EBITDA of around €800 million. Capital expenditure is expected at €500–550 million for the year, below the 2025 comparable figure of €652 million. Looking further ahead, the company anticipates operating EBITDA growth of approximately €100 million annually in both 2027 and 2028, with cash capex remaining at a broadly similar level to 2026. Execution of the Versatel restructuring and 5G network build remain the principal company-specific variables to watch.