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Germany’s 1&1 Drillisch ups 2020 revenue growth…

BERLIN, Aug 11 – German alternative telecoms company 1&1 Drillisch said on Tuesday it expected sales to grow by 4% this year, raising its earlier forecast of flat revenue, while maintaining its view that core earnings would be flat.

Drillisch, which plans to become Germany’s fourth operator by building its own 5G network, has said its business was proving stable despite the economic and social disruption caused by the coronavirus pandemic.

It also expects service revenues to increase by 2-3% this year.

Parent company United Internet, in which tycoon Ralph Dommermuth owns a 42.3% stake, also raised its sales growth forecast to 4% while continuing to expect flat earnings before interest, taxation, depreciation and amortisation (EBITDA).

Both companies are due to publish first-half results on Thursday. (Reporting by Douglas Busvine Editing by Michelle Martin)

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