Iliad’s core profit jumps 12.8%

French telecoms firm Iliad reported a 12.8% rise in its half-year core earnings on Tuesday, driven by higher sales in the three countries it operates in.

The company, owned by billionaire Xavier Niel, posted consolidated earnings before interest, taxes, depreciation and amortisation and after leases of 1.58 billion euros ($1.58 billion) in the first six months of 2022, compared with 1.40 billion euros a year earlier.

Iliad, which founder Niel took private last year, said it was “keeping a vigilant eye” on the volatility of the financial and energy markets.

Revenues in Italy in the six months to June 30 rose 15.4% on the year to 442 million euros, while in France they grew 6.6% to 2.71 billion euros.

The group said it had in April signed a network-sharing agreement in Italy with rival Wind Tre, owned by conglomerate Hutchinson in non-densely populated areas.

In Poland, where it last year bought broadband operator UPC from U.S.-based Liberty Global, Iliad reported a 9.7% revenue rise.

Iliad said it had added 187,000 new subscribers in France in the second quarter of the year and 257,000 new mobile customers in Italy despite a “fiercely competitive environment”. Reuters