Iliad's 2024 Profit Increases by 12% in Key Markets
By Leo Marchandon
(Reuters) -French telecommunications giant Iliad reported a rise of 11.8% in its core profit for 2024, driven by strong performances across its main markets of France, Italy and Poland.
Privately held Iliad, founded and majority-owned by French billionaire Xavier Niel, on Tuesday also outlined details about its planned 3 billion euro ($3.24 billion) investment in artificial intelligence.
Investment is expected to go to subsidiaries including OpCore, which manages the group's 13 data centres; Scaleway, which provides computing power for AI; and research lab Kyutai, it said.
Total earnings before interest, taxes, depreciation and amortisation after leases were 3.85 billion euros last year, the company said, using a core operating earnings measure used by many European telecom firms.
In France, it added more than half a million net mobile users last year under its Free brand, amid competition from rivals Orange, Bouygues and SFR in the second half.
The company gained more than 900,000 mobile subscribers in Italy as well as 142,000 new fibre subscribers. In Poland, it added 270,000 net new subscribers.
Iliad is targeting 2 billion euros in operational free cash flow for 2025, it said.
($1 = 0.9270 euros)
(Reporting by Leo Marchandon in Gdansk; editing by Milla Nissi and Rachna Uppal)
