Germany ⫶ Continued service revenue growth
Germany 32% of Group service revenue 1
+0.7% Q3 Service revenue growth
Value-focused actions
• Service revenue supported by wholesale & digital services • Competitive intensity still impacting mobile ARPU • Mobile service revenue growth in Q3 impacted by phasing of service provider payments (c.-1pp QoQ) • 1&1 migration complete • Fixed service revenue improving & Consumer broadband revenue stabilised
• Mobile contract customer base grew (+11k) despite ongoing price competition & B2B disconnections (-31k) • Our value-focused pricing actions impacting new gigabit customer wins • OXG fibre build progressing, with 460k homes passed + marketing to 1.5m • Largest gigabit connectivity provider with 25m cable & 5m fibre household reach
• Strong focus on value across mobile & broadband • Higher broadband inflow ARPU 2 driven by our price actions: − reduced promotions − increase in one-time & hardware fees − ‘more-for-more’ speed upgrades from January 2026 • Continued growth in NPS on mobile & cable
Pricing actions Broadband inflow ARPU 2 trend & price actions Inflow ARPU
Service revenue growth (%)
Net additions (‘000)
Gigabit broadband
DSL
Mobile contract
21%
Organic
Organic excl. MDU transition impact
Mar’25 ↑ DSL
Jun’25 ↑ Shipping charges
Sep’25 ↑ Cable & hardware
Oct’25 ↑ DSL
Jan’26 ↑ Cable, DSL & hardware
18
12
11
0.7%
0.5%
(1)
(0.3)%
(8)
1
(2.6)%
(2.7)%
(3) (4)
(16)
(11)
(15)
(8)
(15)
(47)
(3.2)%
(36)
(6.0)%
(6.4)%
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
1. Based on Q3 FY26 service revenue contribution. 2. Inflow ARPU represents the average revenue per unit from new customers.
Q3 FY26 Trading Update ⫶ February 2026
4
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