The stock of Freenet has had its 2023 forecast slightly raised.

Last Updated: 9. November 2023By

The Freenet stock has performed strongly in the last few months after consolidating in May. Since the beginning of August, the share has gone up around 15 percent, while the overall market has weakened. Since the beginning of the year, the share price has increased by around 20 percent despite some bigger fluctuations.

Now, Freenet has raised its forecast for the current year with the nine-month figures. After the publication of the quarterly figures, the Freenet stock could initially gain slightly and is currently trading just below the 25 euro mark (as of November 9th, around 9 a.m.). No wonder the figures are overall very solid.

Freenet with more revenue and new EBITDA forecast With around 1.94 billion euros, Freenet’s revenue in the first 9 months of the year has increased by 2.6 percent compared to the same period last year. At the same time, EBITDA has also increased, and after 9 months it stands at 376 million euros – 3.8 percent higher than after the 3 quarters of 2022. Free cash flow increased by 6.3 percent to 199 million euros.

Freenet has continued the positive trend of the 1st half of the year in the 3rd quarter as well. Consequently, the company has now specified its forecast for the current year or slightly raised it. Free cash flow is expected to land between 260 and 270 million euros in 2023 (previously 250 to 270 million euros).

What investors particularly like is the slightly raised target for EBITDA. While Freenet previously expected an EBITDA of 480 to 500 million euros, the company now forecasts 495 to 505 million euros.

Freenet stock: The company grows steadily in 2023 Even if there are no miracles and giant leaps here, Freenet shows what solid and steady growth looks like in 2023. In the first 9 months of the year, the company has seen customer growth as well as increased profitability.

For the Freenet stock, there could still be further upside after a successful 2023. In the coming months, it will be seen whether the company can continue on its growth path in the medium term. The price targets of most analysts are around the 30 euro mark – here there is cautious optimism.