$FNTN (+1.06%) Freenet

Sold after many years. Considering getting back in at under 20 euros.

The customer service and the ABO rip-off is almost fraud.

Freenet shares fell by 15.6 percent after the mobile phone provider's figures, making it the weakest MDax stock. Barclays analyst Mathieu Robilliard spoke of a sluggish start to the year. Both sales and the operating result were weaker than expected. Meanwhile, his colleagues at Oddo BHF even downgraded the shares to "underperform"

- The mobile communications and TV provider Freenet got off to a surprisingly weak start to the year. In the first quarter, sales rose only slightly and profits even fell. The Freenet management team led by CEO Christoph Vilanek nevertheless expressed confidence that profits in day-to-day business would increase as planned in 2025. Freenet's television service Waipu.tv gained further new customers after the record year 2024. However, the news was not well received on the stock market on Thursday.

Freenet earns less + Bitcoin with a new ATH + AT&T continues to expand its fiber optic business + Alphabet strong due to praise for AI statements + Infineon and Nvidia cooperate

Freenet $FNTN (+1.06%)earns less

• Despite somewhat weaker business in the first quarter, mobile communications and TV provider Freenet believes it is on course to achieve its targets for the year.
• Thanks to additional subscribers, sales rose by just under two percent year-on-year to a good 604 million euros according to adjusted figures, as the MDax-listed company announced in Büdelsdorf on Wednesday evening.
• Profits actually fell - due to a tax credit in the previous year, but also due to higher advertising expenditure for the company's own mobile brands.
• As a result, the bottom line for Freenet shareholders was a profit of a good 57 million euros this time, compared to almost 70 million euros a year earlier according to adjusted figures.
• Operating earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) fell by just under 1 percent to a good 126 million euros.
• Analysts had expected higher sales and operating earnings.
• However, the Freenet Management Board is confident for the current year.
• Adjusted operating profit is expected to rise to between 520 and 540 million euros as planned.
• The news was initially rather poorly received on the financial market.
• In after-hours trading on the Tradegate platform in the evening, the Freenet share lost almost two percent compared to the Xetra closing price.

Bitcoin $BTC (-0.06%)with a new ATH

• Bitcoin reached almost USD 112,000 in early trading on Bitstamp as hopes for an easing of crypto regulation in the US increased.
• Since the election of Donald Trump as US president, Bitcoin has gained around 60 percent and currently has a total valuation of 2.2 trillion dollars.

AT&T $T (+0.13%)continues to expand its fiber optic business

• AT&T has reached an agreement to acquire the consumer fiber optics business of Lumen Technologies for USD 5.75 billion in cash, the companies announced on Wednesday.
• The deal further expands the wireless carrier's national fiber infrastructure.
• By purchasing the business, AT&T gains 1 million fiber customers and significantly expands its fiber network in Denver, Las Vegas, Minneapolis-St. Paul, Orlando, Phoenix, Portland, Salt Lake City and Seattle, according to an AT&T statement.
• The sale of the consumer fiber assets, first reported by Reuters, will allow Lumen to focus on growing the company's enterprise fiber business, Chris Stansbury, Lumen's chief financial officer, told Reuters in an interview.
• The cash proceeds from the sale will help Lumen reduce its debt by $4.8 billion and improve cash flow by reducing interest expense by more than $300 million a year, according to Stansbury.

Alphabet $GOOGL (+2.74%)strong, due to praise for AI claims

• At Alphabet, a positive interpretation of the company's latest statements on artificial intelligence (AI) prevailed in the middle of the week.
• This was matched by a series of favorable analyst comments.
• On the second and final day of the company's annual developer conference, shares in Google's parent company rose by almost four percent to around 170 US dollars on Wednesday.
• The stock market heavyweight thus led the list of winners in the Nasdaq 100.
• At times, the shares reached their highest level in two and a half months at 173.14 dollars.
• The day before, the company's initial statements on the AI mega-trend had met with a negative response.
• Since the beginning of the year, however, the share price has still fallen by ten percent, placing it in the lower midfield of the technology-heavy selection index.
• The latter has risen by one percent in the same period.
• Alphabet CEO Sundar Pichai had already announced on Tuesday that the company would bring its own products to market more quickly in order to keep pace with the new competition in the age of AI.
• After decades of dominance, the tech giant's important search engine business is coming under increasing pressure.
• However, it still maintains a market share of around 90 percent here - and is upgrading its search engine with AI functions.
• This should help the Group to strengthen its continued leading role in the search engine market, commented analyst Ingo Wermann from DZ Bank.
• His colleague Doug Anmuth from the US bank JPMorgan added that the developer conference had confirmed his assessment that Google is taking a leading role in many AI areas with its xxx Gemini.
• Jefferies expert Brent Thill titled his commentary on the developer conference "Year of Gemini".
• According to Justin Post from Bank of America, the topic of AI is not yet adequately priced in at Alphabet.

Infineon $IFX (+0.08%)and Nvidia $NVDA (+1.3%)cooperate

• Infineon and Nvidia are working together to develop the next generation of power supply systems for AI data centers.
• These systems are based on a new architecture with centralized power generation using 800V high-voltage DC, according to Infineon.
• The new high-voltage DC distribution ensures a safe and even more efficient power supply.
• According to Infineon, the company has set itself the goal of creating new standards in power supply for AI data centers.

Thursday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Porsche AG € 2.31
• Puma SE € 0.61
• CTS Eventim AG & Co. KGaA € 1.66
• Takkt AG € 0.60
• ZEAL Network SE € 2.40
• Imperial Brands PLC £ 0.40

• Quarterly figures / company dates USA / Asia
• 05:00 Lenovo annual results
• 15:00 Home Depot AGM
• 19:00 DuPont AGM
• Untimed: Autodesk quarterly figures

• Quarterly figures / Company dates Europe
• 07:30 CTS Eventim | Assicurazioni Generali quarterly figures
• 08:00 Easyjet | BT Group quarterly figures
• 11:00 Amadeus Fire | SFC Energy AGM
• 13:45 Evonik Industries Capital Markets Day

• Economic data

08:45 FR: Business Climate Index May PROGNOSE: 99 previous: 99

09:15 FR: Purchasing Managers' Index/PMI non-manufacturing | 09:15 FR: Purchasing Managers' Index/PMI manufacturing (1st release) May FORECAST: 48.9 PREVIOUS: 48.7

09:30 DE: Purchasing Managers' Index/PMI non-manufacturing (1st release) May PROGNOSE: 49.2 previous: 49.0 Total Purchasing Managers' Index (1st release) FORECAST: 50.3 previous: 50.1

09:30 DE: Purchasing Managers' Index/PMI manufacturing (1st release) May FORECAST: 48.8 PREVIOUS: 48.4

10:00 DE: Ifo Business Climate Index May PROGNOSE: 87.5 PREVIOUS: 86.9 Situation assessment PROGNOSE: 86.9 PREVIOUS: 86.4 Business expectations PROGNOSE: 87.9 PREVIOUS: 87.4

10:00 EU: Purchasing Managers' Index/PMI non-manufacturing | Purchasing Managers' Index/PMI manufacturing Eurozone (1st release) May FORECAST: 49.3 PREVIOUS: 49.0 Total Purchasing Managers' Index (1st release) FORECAST: 50.8 PREVIOUS: 50.4

10:30 UK: Purchasing Managers' Index/PMI non-manufacturing (1st release) May PROGNOSE: 50.7 previous: 49, | Purchasing Managers' Index/PMI Manufacturing (1st release) May PROGNOSE: 46.7 previous: 45.4

14:30 US: Initial Jobless Claims (week) Forecast: 230,000 Previous: 229,000

15:00 BE: Business Climate Index May FORECAST: n/a previous: -14.7

15:45 US: Purchasing Managers' Index/PMI Services (1st release) May FORECAST: 50.6 PREV: 50.8

15:45 US: Purchasing Managers' Index/PMI Manufacturing (1st release) May FORECAST: 49.8 PREVIOUS: 50.2

16:00 US: NAR, Existing Home Sales April FORECAST: +2.7% yoy previous: -5.9% yoy

BYD increases e-vehicle sales

BYD $1211 (-1.48%) is continuing its impressive growth trajectory and is making a good start. In February 2025, sales figures for plug-in vehicles rose by an impressive 161% compared to the previous year. The company sold a total of 322,846 vehicles, which shows a clear upward trend. Particularly exciting is the massive increase in pure electric vehicles, where sales figures rose by 127.5 percent and 124,902 BEVs were sold. However, plug-in hybrids remain the dominant vehicle category with 193,331 units sold. Investors are delighted with these strong figures: BYD shares rose by 5.79 percent to 51.15 Hong Kong dollars, raising hopes for a continued successful future.

Freenet plans dividend increase

Freenet $FNTN (+1.06%) achieved its targets last year and is now planning a dividend increase, which will put shareholders in a good mood. EBITDA climbed by 3.5 percent to 521.5 million euros, supported by a special effect from the sale of IP addresses. Free cash flow was also strong and improved to 292.3 million euros. Revenues grew by 3.9% to EUR 2.478 billion, with growth being driven primarily by waipu.tv subscription customers. The dividend is to be increased to EUR 1.97 per share. The Management Board is also planning a share buyback program with a volume of up to EUR 100 million, underlining its confidence in the company's future development.

Bayer expects profit decline

Bayer $BAYN (+2.69%) expects a further decline in operating profit in 2025, particularly in the agricultural business. The company faces continued headwinds that could have a negative impact on business results. While the exact figures and forecasts are still to come, there are already early indications that market conditions will remain challenging. It remains to be seen how this development will affect the stock and whether Bayer will be able to withstand the market challenges.

Sources:

https://www.finanzen.net/nachricht/aktien/auf-wachstumskurs-byd-aktie-profitiert-von-starken-auslieferungszahlen-in-china-14292232

https://www.finanzen.net/nachricht/aktien/dividendenerhoehung-geplant-freenet-aktie-im-plus-freenet-erreicht-eigene-prognosen-14291119

https://www.finanzen.net/nachricht/aktien/bayer-aktie-bayer-rechnet-2025-mit-weiterem-gewinnrueckgang-14292325

Adidas focuses on further growth + Blackrock acquires two ports on the Panama Canal + freenet with record EBITDA, free cash flow and higher dividend than in the previous year

Blackrock $BLK (+2.38%)takes over two ports on the Panama Canal

• Following pressure from the USA, the US financial firm Blackrock is to take control of two important ports on the Panama Canal.
• Hong Kong-based CK Hutchison is to sell a majority stake in its port division to a consortium led by Blackrock, according to a statement.
• As part of the deal, the company Panama Ports, which operates the ports of Balboa and Cristobal at the entrances to the Panama Canal, is also changing hands.
• US President Donald Trump claims that the US has too much influence over the Panama Canal and speaks of the need for the US to regain control of the waterway.
• China and Panama reject the accusations.
• The Panama Canal was built by the USA at the beginning of the 20th century, but sovereignty over the canal zone was completely returned to Panama at the end of 1999.
• The sale of the port still requires the approval of the authorities, among other things.
• CK Hutchison is set to receive around 19 billion dollars once the deal is completed.

Adidas $ADS (+2.78%)focuses on further growth

• Despite a difficult economic environment, sporting goods manufacturer Adidas expects further growth in the current year.
• However, this is likely to weaken somewhat compared to 2024.
• The company announced in Herzogenaurach on Wednesday that sales in 2025 are expected to increase by a high single-digit percentage on a currency-adjusted basis.
• The Adidas brand is expected to grow by at least ten percent.
• This no longer includes sales of Yeezy products, after the remaining stock from the terminated collaboration with the controversial rapper Kanye West was sold off last year.
• In 2024, Adidas had once again generated around 650 million euros with the products, with overall currency-adjusted sales increasing by 12 percent to 23.7 percent.
• Profitability is set to improve further. Adidas anticipates an increase in operating profit to between 1.7 and 1.8 billion euros, compared to 1.3 billion euros in the previous year.
• Investments in marketing and sales are to be increased.
• "I think we are very well positioned for 2025," commented Group CEO Björn Gulden.
• The company will also make "further progress" towards an operating margin of ten percent.
• In 2024, Adidas improved its margin by 4.4 percentage points to 5.6 percent.
• The Herzogenaurach-based company had already presented preliminary figures for the past year at the end of January.

freenet $FNTN (+1.06%)posts record EBITDA and free cash flow for the 2024 financial year - Proposed dividend significantly higher than previous year

• All financial performance indicators (revenue, EBITDA, free cash flow) were within the forecast ranges raised by the Management Board during the year
• Revenue: Increase of 3.9% to EUR 2,478 million (previous year: EUR 2,385 million), mainly due to the significant growth in waipu.tv subscribers (+571 thousand).
• EBITDA: Increase of 3.5% to EUR 521.5 million (previous year: EUR 503.9 million), with a one-off effect from the sale of IP addresses (EUR 18.4 million) having a positive impact.
• Free cash flow: increase of 5.7% to EUR 292.3 million (previous year: EUR 276.6 million)
• Based on the figures, the Executive Board proposes a record dividend of EUR 1.97 per share (previous year: EUR 1.77 per share) and sees the potential for share buy-backs of up to EUR 100 million.

Wednesday: Stock market dates, economic data, quarterly figures

• Quarterly figures / company dates USA / Asia
• No time specified: Foot Locker quarterly figures

• Quarterly figures / company dates Europe
• 07:00 Evonik Industries | Schaeffler Annual results
• 07:30 Adidas | Bayer | Telecom Italia Annual results
• 08:30 Evonik BI-PK
• 10:00 Bayer BI-PK | Freenet Conference call on preliminary annual results
• 11:30 Evonik Analyst Conference
• 12:00 Schaeffler Analyst Conference
• 14:00 Bayer Analyst Conference
• 21:00 Logitech Capital Markets Day
• No time specified: Dassault Aviation | Atos annual figures

• Economic data

08:30 CH: Consumer prices February FORECAST: +0.6% yoy/+0.2% yoy previously: -0.1% yoy/+0.4% yoy

08:45 FR: Industrial production January FORECAST: +0.4% yoy previous: -0.4% yoy

09:45 IT: Purchasing Managers' Index/PMI non-manufacturing February FORECAST: 50.5 previous: 50.4

09:50 FR: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February PROGNOSE: 44.5 1st release: 44.5 PREV: 48.2 Total Purchasing Managers' Index (2nd release) PROGNOSE: 44.5 1st release: 44.5 PREV: 47.6

09:55 DE: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February FORECAST: 52.2 1st release: 52.2 PREV: 52.5 Total Purchasing Managers' Index (2nd release) FORECAST: 51.0 1st release: 51.0 PREV: 50.5

10:00 EU: Purchasing Managers' Index/PMI non-manufacturing euro area (2nd release) February FORECAST: 50.7 1st release: 50.7 PREV: 51.3 Total Purchasing Managers' Index (2nd release) FORECAST: 50.2 1st release: 50.2 PREV: 50.2

10:00 IT: GDP (2nd release) 4Q

10:30 UK: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February 1. Release: 51.1 previous: 50.8

11:00 EU: Producer Prices January Eurozone FORECAST: +0.4% yoy/+1.4% yoy previously: +0.4% yoy/0.0% yoy

14:15 US: ADP labor market report February private sector employment PROGNOSE: +148,000 jobs previous: +183,000 jobs

15:45 US: Purchasing Managers' Index/PMI Services (2nd release) February FORECAST: 49.8 1st release: 49.7 previous: 52.9

16:00 US: Industrial New Orders January FORECAST: +1.6% yoy previous: -0.9% yoy

16:00 US: ISM non-manufacturing index February FORECAST: 52.9 points previous: 52.8 points

20:00 US: Fed, Beige Book

In the current issue, "Der Aktionär" recommends these dividend stocks.

For a peaceful night's sleep (conservative):

• E.On $EOAN (+0.5%)
• Johnson & Johnson $JNJ (+0.12%)
• Munich Re $MUV2 (+0.31%)
• PepsiCo $PEP (+1.93%)
• Procter & Gamble $PG (+0.75%)

Top dividend with medium risk can be seen in:

• Andritz $ANDR (+1.66%)
• Freenet $FNTN (+1.06%)
• Imperial Brands $IMB (-1.04%)
• Traton $8TRA (+2.36%)

Dividends with a yield kick are located in these shares:

• Frontline $FRO (-2.49%)
• Petrobas $PETR3 (+0.51%)
• Repsol $REP (+0.66%)
• Stellantis $STLAM (+2.68%)

Source: Der Aktionär, Issue 08.2025

Analsyst updates, 06.12.

⬆️⬆️⬆️

• BERNSTEIN raises the price target for SIEMENS from EUR 220 to EUR 227. Outperform. $SIE (+3.21%)
• JPMORGAN raises the target price for SIEMENS ENERGY from EUR 38.70 to EUR 44. Neutral. $ENR (+1.98%)
• JEFFERIES upgrades BMW from Hold to Buy and raises target price from EUR 80 to EUR 85. $BMW (+4.25%)
• ODDO BHF raises the price target for AURUBIS from EUR 70 to EUR 76. Neutral. $NDA (+1.49%)
• UBS raises target price for AUTO1 from EUR 9.80 to EUR 20.50. Buy. $AG1 (+0%)
• UBS raises the target price for NORDEA from SEK 144 to SEK 145. Buy. $NDA FI (+1.23%)
• DEUTSCHE BANK RESEARCH raises the price target for FREENET from EUR 34 to EUR 36. Buy. $FNTN (+1.06%)
• DEUTSCHE BANK RESEARCH raises the target price for DS SMITH from GBP 4 to GBP 5.80. Hold. $SMDS
• JPMORGAN raises the price target for THYSSENKRUPP from EUR 3.80 to EUR 4.10. Neutral. $TKA (+0.24%)
• JPMORGAN raises the target price for SALZGITTER from EUR 11.50 to EUR 14.10. Underweight. $SZG (+1.32%)
• JPMORGAN raises the price target for SCHNEIDER ELECTRIC from EUR 270 to EUR 275. Overweight. $SU (+5.81%)
• JPMORGAN raises the price target for KNORR-BREMSE from EUR 88 to EUR 92. Overweight. $KBX (-2.35%)
• MORGAN STANLEY upgrades HANNOVER RÜCK to Overweight. Target price EUR 292. $HNR1 (+0.6%)
• JPMORGAN raises the target price for COMMERZBANK from EUR 18.40 to EUR 19.50. Overweight. $CBK (+0.09%)

⬇️⬇️⬇️

• GOLDMAN lowers the price target for LVMH from EUR 770 to EUR 720. Buy. $MC (+1.61%)
• MORGAN STANLEY downgrades MUNICH RE to Equal-Weight. Target price 523 EUR. $MUV2 (+0.31%)
• JEFFERIES downgrades MERCEDES-BENZ from Buy to Hold and lowers target price from EUR 73 to EUR 60. $MBG (+3.32%)
• ODDO BHF lowers the price target for DELIVERY HERO from EUR 43 to EUR 38. Neutral. $DHER (+0.34%)
• WARBURG RESEARCH lowers the price target for COMPUGROUP from EUR 31 to EUR 24.50. Buy. $COP (+0.64%)
• JPMORGAN lowers the price target for VESTAS from DKK 143 to DKK 123. Neutral. $VWS (-1.18%)
• JPMORGAN lowers the price target for KION from EUR 44 to EUR 43. Overweight. $KGX (+1.46%)
• MORGAN STANLEY downgrades ORSTED to Equal-Weight. Target price DKK 480. $ORSTED (-1.37%)