Expected Moves

Anticipated H2 2026 update on renegotiations regarding the unfavorable Telefonica mobile network operator (MNO) agreement. Recovering a portion of the previously guided EBITDA loss could lift shares from the $27.00 base toward $29.50.

Freenet reports Q3 2026 results. The market will look for continued stabilization in mobile postpaid additions, Waipu.tv EBITDA margins, and updates on H2 mobile marketing spend from a $29.50 entry.

Expected strategic update regarding Exaring AG's Waipu.tv streaming platform. Bankers estimate the IPTV segment could hold significant standalone value, potentially driving shares from $31.00 to $34.50.

Full-year 2026 results and the official FY26 dividend proposal. Anchored at $34.50, confirmation of the highly anticipated minimal dividend floor will be the central focus.

Freenet's AGM and subsequent ex-dividend date. Yielding roughly 8-9%, the mechanical price adjustment from the $36.00 base naturally tilts the base-case pathway toward the $33.50 fallback.

Q1 2027 earnings provide the first operational update of the new fiscal year. From the post-dividend $33.50 level, the focus shifts entirely to recurring revenue run-rates.