freenet earmarks 75 million euros for share buyback from Ceconomy sale proceeds
Key Facts
freenet AG said on November 5, 2026, that it had launched a share buyback program of up to 75 million euros during fiscal 2026 and/or 2027, with purchases to be made on the stock exchange. The decision was approved by the Supervisory Board, according to the company statement, and sets a ceiling for the program rather than a confirmed amount it will actually buy. The company will fund the operation with part of the roughly 150 million euros it expects to receive from the sale of its shares in Ceconomy. The arrangement links the use of the sale proceeds to the share buyback and to funding the full acquisition of waipu.tv. freenet did not announce when purchases would begin or their final volume within the stated ceiling.
The company said the size of the buyback program took into account the initial purchase price for the full acquisition of waipu.tv, at approximately 76 million euros. freenet announced the deal on October 13, 2026, saying full ownership would allow it to participate fully in the company’s future earnings and cash flows. It also described the growth of IPTV services as a strategic focus for the group. First-half 2026 data show that waipu.tv added 77,000 subscribers, bringing its total to 1.832 million. Over the same period, adjusted EBITDA in the IPTV segment rose 36.5% to 18.5 million euros, according to freenet.
The buyback program is based on the company’s authorization from its annual general meeting on May 13, 2026, which permits the purchase of treasury shares of up to 10% of share capital. freenet said the shares repurchased would be canceled through a reduction in share capital. This means the buyback could reduce the number of shares outstanding, but the company did not specify the target number of shares or the amount it would actually spend. The 75 million euros remains the program’s announced ceiling for fiscal 2026 and/or 2027. The Supervisory Board approved the Management Board’s decision to launch the program.
The move follows mixed results for the company in the first half of 2026: revenue rose 24.7% to 1,512.9 million euros, while adjusted EBITDA fell 5.9% to 242.2 million euros. Adjusted free cash flow declined 4.2% to 155.2 million euros over the same period, according to freenet data. The company had reaffirmed its fiscal 2026 guidance, targeting adjusted EBITDA of between 500 million and 530 million euros and adjusted free cash flow of between 270 million and 300 million euros. It also said it intended to pay a minimum dividend of 2 euros per share for each of fiscal 2026, 2027 and 2028. The payout could be higher if allocating 80% of adjusted free cash flow results in a larger amount, the company said.
Against a backdrop of economic data from Germany, the Federal Statistical Office reported that industrial production rose 0.7% in September from August, but output in the third quarter remained 0.4% below the second quarter. The August reading was also revised to a monthly increase of 1.0%, from an initial estimate of 2.0%. The office said automotive production rose 17.1% in September after hitting a low in the previous two months, partly due to production shifts and factory holidays. A Reuters report attributed the monthly rebound to "seasonal improvement in the automotive industry," while a poll of analysts had expected no change in output. Year on year, industrial production rose 0.4% in September from the same month a year earlier.
freenet is scheduled to publish its results for the third quarter and first nine months of 2026 after Xetra trading closes on November 11, according to the company’s calendar. The company scheduled an investor call for November 12 at 11:00 Central European Time. The results will follow the buyback announcement and provide an update on the company’s performance during the period covered by its annual guidance. The program announcement did not specify when stock-exchange purchases would begin or their schedule. It also did not state the final amount of Ceconomy share-sale proceeds that would be used for the buyback.