3. Subsequent events

There were no significant events subsequent to the end of the reporting period on December 31, 2021 which had a material effect on the financial position and performance or the accounting and reporting of the parent company or the Group.

Information on the economic position of the Group and Company at the time of preparing this Management Report are provided in chapter 4.3 “Forecast report”

The full-scale attack on the entire territory of Ukraine launched by Russia (with the support of Belarus) on February 24, 2022, marked the beginning of the Ukrainian War of 2022.

The EU, the USA, the UK, and other states reacted to the attack by imposing stringent sanctions against Russia, Belarus, and the separatist regions of eastern Ukraine. With an overwhelming majority, the United Nations and its 193 member countries (UN General Assembly) also condemned Russia for the attack on Ukraine and called for an immediate withdrawal and an end to the aggression.

The United Internet Group does not actively pursue any business activities in the countries involved in the war. Ukraine, Russia, and Belarus are not target countries for United Internet companies and there are no locations in the aforementioned countries.

Against this backdrop, United Internet does not currently expect any significant impact on the business performance and position of the Company or the Group, especially as the Group’s business model is based on a large number of electronic subscriptions with fixed and moderate monthly amounts and contractually fixed terms. This ensures stable and predictable revenues and cash flows and provides protection against cyclical influences.

Nevertheless, the economic consequences of the war and the sanctions imposed (humanitarian crises, influx of refugees, shortages/price rises of oil, gas, and raw materials) for the target countries of United Internet companies and for United Internet itself cannot be accurately estimated as yet. The same applies to the potential danger of war spreading to other countries.