France's Iliad targets 10 bln euros in 2024 revenue, from 9.24 bln last year (updated)

Tele2 AB

14/03/2024 07:37

(Adds CEO quotes, details from call and context)
    By Stephanie Hamel
       March 14 (Reuters) - French telecoms group Iliad on
Thursday said it was targeting 10 billion euros in revenue for
2024, up from 9.24 billion last year when it reported core
profit growth of 4.2% thanks to strength in its French and
Italian markets.
    The unlisted group is now aiming to become the fifth-largest
mobile operator in Europe, it said in a statement.
    "We're building a new-generation European telecoms group,"
said CEO Thomas Reynaud. "We are now present in eight European
countries, from southern Italy to northern Sweden".
    Founded and majority-owned by French billionaire Xavier
Niel, the company has been seeking to push consolidation of
Europe's telecoms sector.
    "We are very interested in the Baltic countries and Sweden,
so interested that we have become the reference shareholder of
Tele2", Reynaud said, referring to Iliad's acquisition of a
19.8% stake in Swedish telecoms operator Tele2  TEL2b.ST  in
February.
    Asked about potential interest in Telecom Italia and Altice
Portugal, Reynaud said the group does not comment on speculation
regarding its strategy. 
    In 2022, Niel took control of a 2.5% stake in Vodafone. The
company offered over 11 billion euros to buy Vodafone Italy
outright the same year but was rebuffed, which led to a
sweetened offer last month, also rejected by Vodafone.
    The company reported 3.44 billion euros ($3.76 billion) in
earnings before interest, taxes, depreciation and amortisation
after leases (EBITDAal).
    Most European telecom operators have raised prices to limit
the impact of inflation on costs. Iliad, however, last year set
a five-year price cap on its two base plans, but was criticized
for increasing the price of add-ons.
    Free, Iliad's brand in France, racked up a total of 787,000
net new mobile subscribers in 2023, while in Italy, the group
gained 1.16 million net new subscribers via its Iliad Italia
brand.  
    ($1 = 0.9144 euros)
    
    
    


        
  


 (Reporting by Stéphanie Hamel; Editing by Jason Neely,
Christopher Cushing and Bernadette Baum)
 ((stephanie.hamel@thomsonreuters.com))