Iliad meets goal to become Europe's 5th largest telecoms operator (updated)

Tele2 AB

29/08/2024 07:46

(Adds details throughout)
       Aug 29 (Reuters) - France's Iliad said on Thursday it
had reached its goal to become Europe's fifth largest telecoms
operator by the number of customers, after it recorded 50
million total subscribers in the first half of 2024.
    The group, which already was the fifth biggest fixed
broadband operator in Europe, has been aiming to bring in more
retail mobile subscribers.
    "We now count 50 million subscribers in France, Poland and
Italy, and as many as 61 million with our investment in Swedish
operator Tele2  TEL2b.ST ," CEO Thomas Reynaud said in a
statement.
    In France, where it operates under the Free brand, Iliad now
has 22.8 million subscribers, while its second biggest market
Poland recorded 15.3 million subscribers through mobile provider
Play and cable operator UPC. In Italy, the total number of
subscribers was 11.5 million by June 30.
    Iliad's earnings before interest, tax, depreciation and
amortisation after leases (EBITDAal) - a core operating earnings
measure used by many European telecom companies - grew to 1.86
billion euros ($2.07 billion) in the first six months of 2024.
    The unlisted group, owned by French billionaire Xavier Niel,
stood by its annual revenue target of 10 billion euros.
($1 = 0.8986 euros)

 (Reporting by Gianluca Lo Nostro and Stéphanie Hamel in Gdansk;
editing by Milla Nissi)
 ((gianluca.lonostro@thomsonreuters.com;))