Iliad Group CEO Thomas Reynaud (pictured) claimed the operator was in a good position to maintain growth despite uncertainties of the current international environment, as it reported a rise in profit and revenue in H1 2022.
In a results statement, the group noted it is continuing to “keep a vigilant eye” on the current volatility of the financial and energy markets. It also indicated it has “recently reinforced our financing capacities while taking steps to secure the prices and volumes of our supplies”.
Iliad reported a 12.8 per cent rise in its half-year core earnings to €1.58 billion, driven by growth in France, Italy and Poland and the integration of Polish cable operator UPC. The profit for the period rose 167.7 per cent to €639 million.
H1 group revenue increased 8.1 per cent to just over €4 billion. Italy produced the strongest increase of 15.4 per cent, followed by Poland with 9.7 per cent and France with 6.6 per cent.
The number of mobile subscribers increased in all three markets in the period from April to June. In France, Free’s mobile customer base grew by 120,000 to 13.86 million by the end of June. Iliad Italia recorded an increase of 267,000 to over 9 million, while Play saw a rise of 81,000 to 12.7 million.
Iliad also pointed to recent deals aimed at driving further growth. For example, in June it agreed to sell 50 per cent of its FFTx network in Poland to French private equity firm InfraVia. In July, it acquired Polish online video delivery platform provider Redge Technologies as well as a 10 per cent stake in French smartphone refurbishment specialist Certideal.