France's Iliad posts higher Q1 core profit as Italy drives growth
Q1 Financial Performance and Regional Growth
May 21 (Reuters) - French telecoms group Iliad reported a 1.2% annual increase in first-quarter core earnings on Thursday, as it continued to rack up new subscribers in Italy despite intense competition in its biggest market, France.
EBITDAaL and Revenue Growth Overview
Total earnings before interest, taxes, depreciation and amortisation after leases (EBITDAaL) in the three months ended March 31 were €942 million on organic revenue growth of 3.3%. Italy posted the biggest core profit jump, with a 25% year-on-year surge to €111 million.
Subscriber Growth by Country
The unlisted company, owned by French tech tycoon Xavier Niel, added 200,000 subscribers in Italy, while customer growth in France and Poland remained flat despite a higher fibre adoption rate.
Free Cash Flow and Future Outlook
The group's bottom-line free cash flow, the money left over after debt costs and government spectrum payments, nearly doubled to €416 million, helped by lower licence fees. Iliad said it expected to generate more cash in 2026 than it did last year.
(Reporting by Gianluca Lo Nostro and Leo Marchandon; Editing by Matt Scuffham)
