MONTABAUR (dpa-AFX) - The telecommunications group 1&1 is expecting growth again in 2024 after an expected decline in profits in the current year. Earnings before interest, taxes, depreciation and amortization should increase by around 10 percent, the company announced on Tuesday evening. In the current year, 1&1 expects 655 million euros, after a good 693 million euros in 2022. The company is thus more optimistic than analysts, who have so far only forecast an average of 680 million euros for 2024.

1&1 plans to increase service revenue by around 4% in 2024. In the current year, the company expects to generate 3.23 billion euros.

The statements were well received by investors. The 1&1 share price rose by 2.6 percent on the Tradegate trading platform in an initial reaction./he/jha/