An operation on the 50 million euro with which Iliad acquires an equity investment equal to approximately 12% of the share capital of Unieuro and becomes, in fact, the largest shareholder. The telephone company headed by Xavier Niel, and led in Italy by Benedetto Levi, thus enters decisively into the leading company in the retail distribution sector from consumer electronics to small and large electric appliances.
The understanding
After two years of collaboration between the two companies in the distribution of the operator’s sims through the Simboxes located in 200 of the 500 Unieuro points of sale, and while it is preparing to enter the fixed network market, Iliad explains in a note that he has “decided to investing in Unieuro’s capital to accompany it on its path of growth and innovation ». In this context, underlines the CEO of Iliad Italia Benedetto Levi, “we are happy to enter the capital of Unieuro to accompany them in their long-term growth. We appreciate the Unieuro team and share fundamental values with them: a constant desire to innovate, a strong entrepreneurial spirit and a real attention to the quality of the relationship with users and consumers ».
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The relationship between Unieuro and Iliad
The operation was completed through Iliad Holding spa and Iliad sa. Unieuro and Iliad, the note continues, «are two Italian companies in strong growth, appreciated by Italians, and have supported millions of people in the last year by offering them a quality service to stay connected during the health crisis. Unieuro is the Italian leader in its sector, and has recently announced a new record in revenues for the fifth consecutive year since its landing on the Stock Exchange ».
The Iliad group in Italy
The Iliad group in Italy – the country where it landed at the end of May 2018 – recorded an Ebitda loss in 2020 of 133 million euros, 47.2% lower than the red of 253 million in 2019. Revenues increased by 58% to 674 million and the number of subscribers during the year increased by nearly 2 million to a total of 7.24 million, or a 9% market share.
The growth of Unieuro
As for Unieuro, based on some preliminary results for the year ended February 28, 2021 (not yet subject to statutory audit), a new record of revenues was highlighted, which amounted to approximately 2.7 billion euros. The growth compared to the previous year, equal to 9.8%, was “entirely organic”, stressed the company. After a first quarter down (revenues down 13.4%) due to the emergency and the first lockdown, the following quarters – closed respectively up by 15.2%, 15.8% and 16% – allowed ” a robust recovery ”also linked to the“ consumption trends triggered by the pandemic ”. Shareholders as of March 2021 include some members of the Silvestrini family who overall own 7.3%, Amundi Asset management (7.2%), Mediolanum Gestione Fondi sgr (4.9%) and Jp Morgan Asset Management (3.3%) %).