Iliad has recently announced its ascension to being one of Europe’s top five telecom operators, building on a 10.3% year-on-year revenue increase for the first half of 2024. With nearly 50 million subscribers spread across France, Italy, and Poland, the company has solidified its position as a major player in the market.
In France, Iliad posted a 9.6% revenue increase in the first half of 2024. The second quarter saw a particularly strong performance, with a 9.1% rise year-on-year. The company added 120,000 new mobile subscribers and 189,000 new fiber subscribers, attributing much of this growth to its new Wi-Fi product, the Freebox Ultra, which launched in January.
Italy has shown even more robust growth, with revenues rising by 11.5% for the first half of the year. Iliad has maintained market leadership in net mobile subscriber additions for 25 consecutive quarters, adding 279,000 new subscribers in Q2 2024 alone. Additionally, the company strengthened its fixed market position by adding 35,000 new fiber subscribers.
In Poland, Iliad reported a 12.0% revenue increase. Play, the Polish subsidiary acquired in 2020, saw gains in mobile segment market share, adding 62,000 new post-paid mobile subscribers and 67,000 prepaid users in Q2. The fixed-line segment also experienced growth, with 17,000 net additions.
These efforts translated into a 13.2% rise in EBITDAaL (earnings before interest, taxes, depreciation, amortization, and leasing), which reached €1.86 billion in the first half of 2024. The margin increased to 37.8%, with Italy and Poland showing the strongest gains at 26% and 15% respectively. Operating free cash flow saw a significant 61% rise to €971 million, strengthening the Group’s financial structure and reducing its leverage ratio from 3.0x at the end of 2023 to 2.8x in June 2024.
“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.
