iliad Group has announced its emergence as one of Europe’s top five telecom operators, following the release of its H1 2024 financial results this week.
The company reported a 10.3% year-on-year (YoY) revenue growth, driven by robust subscriber increases in France, Italy, and Poland. With nearly 50 million subscribers across these countries, iliad’s strong performance underscores its significant role in the European telecom sector.
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Regional Subscriber Breakdown
In France, the iliad Group saw a revenue increase of 9.6% in the first half of 2024, with a notable 9.1% rise in the second quarter.
During Q2, the company added 120,000 new mobile subscribers and 189,000 new fiber subscribers. iliad credits this increase in subscriptions to its new Freebox Ultra Wi-Fi product, which launched in January and has consequently played a key role in retaining its French customer base.
In Italy, revenues surged by 11.5% in the first half of the year. iliad continued its dominance in net mobile subscriber additions, marking its 25th consecutive quarter as a market leader, with 279,000 new mobile subscribers added in Q2.
Additionally, iliad Italia gained 35,000 new fiber subscribers, further solidifying its position in a competitive market.
In Poland, iliad Group experienced a 12.0% revenue increase. Its Polish subsidiary, Play, which was acquired in 2020, continued to expand its market share, adding 62,000 new postpaid mobile subscribers and 67,000 prepaid users in Q2. The fixed-line segment saw more modest growth with 17,000 net additions.
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Key Financial Metrics
Overall, iliad’s EBITDAaL rose by 13.2% to EUR 1.86 billion in the first half of 2024, with the margin improving to 37.8%. Notably, Italy saw a 26% increase and Poland a 15% rise in EBITDAaL.
Operating free cash flow increased by 61% to EUR 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,″ expounded 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.
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