News
The Group has seen a 10.3% revenue increase year-on-year, with strong subscriber growth across France, Italy, and Poland
Iliad Group has claimed it is now one of Europe’s top five telecom companies upon the release of its H1 2024 accounts this week.
With nearly 50 million subscribers across its operations in France, Italy, and Poland, the company reported a revenue increase of 10.3% in the first half of the year, reinforcing its position as a key player in the European telco market.
Growth across key markets
In France, revenues rose by 9.6% in the first half of 2024, with a particularly strong performance in the second quarter, where it saw a 9.1% increase year-on-year. Iliad added 120,000 new mobile subscribers in Q2 2024, and gained 189,000 new fibre subscribers.
Iliad argued that its new Wi-Fi product, the Freebox Ultra, which launched in January, played a crucial role in retaining its customer base in France.
In Italy, revenues rose to 11.5% in the first half of the year. The company maintained its market leadership in net mobile subscriber additions for the 25th consecutive quarter, adding 279,000 new subscribers in Q2 alone. In the fixed market, Iliad Italia added 35,000 new fiber subscribers, strengthening its foothold in a highly competitive environment.
Poland saw a 12.0% revenue increase. Play, Iliad’s Polish subsidiary acquired in 2020, continued to gain market share in the mobile segment, adding 62,000 new post-paid mobile subscribers and 67,000 prepaid users in the second quarter. The fixed-line segment saw more modest growth, with 17,000 net additions.
Overall, the company’s EBITDAaL (earnings before interest, taxes, depreciation, amortisation, and leasing) rose by 13.2% to €1.86 billion in the first half of 2024, with a margin increase to 37.8%. This growth was particularly strong in Italy (up 26%) and Poland (up 15%).
Operating free cash flow increased by 61% to €971 million, “allowing the Group to reinforce its financial structure, with its leverage ratio coming in at 2.8x at end-June 2024 versus 3.0x at end-2023″, read the statement.
“The Iliad Group has reached a historic milestone by becoming one of Europe’s top five operators. Our growth is a testament to our commitment to innovation, investment in our networks, and dedication to providing the best services to our customers,” said group CEO Thomas Reynaud.
Keep up to date with the latest international telecoms news by subscribing to the Total Telecom daily newsletter
Also in the news:
Coastguard’s emergency network gets an upgrade from Telent
AT&T fined nearly $1m over 911 failings
How will the CityFibre–Sky deal really affect BT?