Thriving in ‘fiercely competitive’ markets
French telco Iliad has reported a 12.8% leap in its half-year core earnings on Tuesday, propelled by higher sales in each of the three countries it operates in, according to FX Empire. Its performance in Italy saw a particularly impressive jump, while Polish revenues surged by 10% and its biggest market, France, saw revenue gains of nearly 7%.
The company posted consolidated earnings before interest, taxes, depreciation and amortisation and after leases of €1.58 billion in the first six months of 2022, €180 million up on last year’s total of €1.40 billion.
Iliad, which founder and owner Xavier Niel took private last year, is “keeping a vigilant eye” on the volatility of the financial and energy markets, it said.
The best growth results were for Iliad Italy where revenues for the six months to June 30 rose 15.4% on the year to €442 million. In April it signed a network-sharing agreement with rival Wind Tre, owned by conglomerate Hutchinson, in order to cover non-metropolitan areas. and 257,000 new mobile customers in Italy despite a “fiercely competitive environment”. In February it was reported that Iliad had bid €11 billion for a merger with rival Vodafone Italia.
In Poland, where it last year bought broadband operator UPC from US-based Liberty Global for €1.5 billion, Iliad reported a 9.7% revenue rise. In the home market of France Iliad has added 187,000 new subscribers in the second quarter of the year and revenues grew 6.6% to €2.71 billion.