{"id":54834,"date":"2023-08-30T10:18:33","date_gmt":"2023-08-30T14:18:33","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/iliad-posts-profit-growth-against-tough-telecom-sector-backdrop\/"},"modified":"2023-08-30T10:18:36","modified_gmt":"2023-08-30T14:18:36","slug":"iliad-posts-profit-growth-against-tough-telecom-sector-backdrop","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54834","title":{"rendered":"Iliad posts profit growth against tough telecom sector backdrop"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: A guest speaks on a mobile phone as she arrives for the French telecoms operator Iliad’s media conference in Milan, Italy, May 29, 2018. REUTERS\/Stefano Rellandini\/File Photo<\/span>
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By Stephanie Hamel and Victor Goury-Laffont<\/p>\n

(Reuters) -French telecom provider Iliad reported a more than 4% rise in half-year core profit on Wednesday, supported by gains across markets and the expansion of its activities in Italy.<\/p>\n

The unlisted company, which operates in France, Italy and Poland, posted earnings before interest, taxes, depreciation and amortization and after leases (EBITDAal) of 1.64 billion euros ($1.78 billion) for the first half of 2023, up from 1.58 billion a year earlier.<\/p>\n

Iliad’s performance makes it an outlier among industry peers, after French rivals Orange and SFR, part of the Altice group, recorded weaker earnings growth for the half-year period.<\/p>\n

In an economic context “full of uncertainties, caution is called for, but Iliad’s development model is proving its robustness”, Chief Executive Thomas Raynaud said in a statement.<\/p>\n

Telecommunications companies across Europe have been hit by rising energy prices, infrastructure costs to deploy fibre and 5G coverage, and a slowdown in subscriber growth. This has led all Iliad’s competitors on the French market to increase their rates.<\/p>\n

Free Mobile, Iliad’s French service provider and largest branch in terms of revenue, earlier this year set a five-year price cap on its plans, an anti-inflation measure that was criticised as the price of add-ons was nonetheless increased.<\/p>\n

Asked about the cost of this measure during a press call, Raynaud described the price cap as an “opportunity to lead the race in terms of market share gains”. He did not comment on the cost.<\/p>\n

Regarding Italy’s recent decision to join U.S. fund KKR’s bid for Telecom Italia <\/span><\/span> (BIT:)’s grid, Raynaud said the move underlined a “strong political will” to deploy fibre across the country, to which Iliad contributes, adding the group was waiting for more details.<\/p>\n

The group remains on the lookout for potential acquisitions in Italy after its 2022 Vodafone (NASDAQ:) bid was rejected, he said.<\/p>\n

($1 = 0.9204 euros)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: A guest speaks on a mobile phone as she arrives for the French telecoms operator Iliad’s media conference in Milan, Italy, May 29, 2018. REUTERS\/Stefano Rellandini\/File Photo By Stephanie Hamel and Victor Goury-Laffont (Reuters) -French telecom provider Iliad reported a more than 4% rise in half-year core profit on Wednesday, supported […]<\/p>\n","protected":false},"author":1,"featured_media":3798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-54834","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nIliad posts profit growth against tough telecom sector backdrop | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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