3. SUBSEQUENT EVENTS
In January 2026, United Internet concluded a subsidized loan agreement (KfW) with a banking consortium led by IKB Deutsche Industriebank AG amounting to € 260 million. The funds will be invested in green IT for the United Internet Group and will support United Internet AG in its contribution to the sustainable transformation of its industry. As this event occurred after the balance sheet date, it has no effect on the financial information prepared as of the balance sheet date.
In addition, United Internet AG made a further drawdown of € 225 million in January 2026 under the international promotional loan agreement concluded with Japan Bank for International Cooperation (JBIC) in December 2024 totaling € 800 million. This leaves € 285 million (December 31, 2025: €510 million) available as a free credit line under this facility. As this event occurred after the balance sheet date, it has no effect on the financial information prepared as of the balance sheet date.
The large-scale attack on Iran launched by the US and Israel at the end of February marked the beginning of the Iran War of 2026. Iran responded to these attacks with counterattacks on Israel and various countries and targets throughout the Middle East, including the Strait of Hormuz, which is important for global shipping, energy supplies, and supply chains.
The United Internet Group is not actively involved in Iran or the Middle East as part of its business activities. Israel, Iran, and the entire Middle East are also not target countries for United Internet companies, and the Company has no locations in the aforementioned countries and regions.
Against this backdrop, United Internet does not currently expect any significant impact on the business development and situation of the Company or the Group, especially since the Group’s business model is based on a large number of electronic subscriptions with fixed and moderate monthly amounts and contractually agreed terms. This ensures stable and predictable revenues and cash flows and offers protection against economic influences.
Nevertheless, the economic consequences of the war for the target countries of the United Internet companies and for United Internet itself (such as shortages/price increases for oil, gas, and raw materials or interrupted supply chains from the Far East) cannot be precisely assessed at this moment. The same applies to the potential risk of the war spreading to other countries.
Apart from the above, there were no other significant events subsequent to the end of the reporting period on December 31, 2025 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 5.3 “Forecast report”.
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