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Iliad, turnover close to 10 billion and first positive cash flow in Italy

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Iliad, turnover close to 10 billion and first positive cash flow in Italy

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The 10 billion euro turnover is just a breath away for the Iliad group which closed 2023 with consolidated revenues increased by 10.4% to 9.24 billion euros and by 11.3% in the fourth quarter. And the first positive cash flow arrives in Italy, for 4 million. «We aim to become the fifth largest telecommunications company in Europe», commented CEO Thomas Reynaud, at the helm of a telco with 48.5 million mobile (38.8 million) and fixed (9.7 million) users. and distributed between France (22.4 million users of which 15.5 on mobile), Poland (15.2 million of which 13.1 on mobile) and Italy (10.9 million, of which 10.7 on mobile) .

In France, revenues increased by 9.9% in the fourth quarter, the strongest growth in nine years, exceeding the 6 billion euro mark for the first time. In Italy, revenues grew by 14.5% in the entire year and by 19.9% ​​in the fourth quarter, exceeding the symbolic threshold of one billion euros. Poland’s revenues grew 13.1% for the full year to 2.2 billion euros and 10.2% in the fourth quarter.

Also at group level, consolidated investments amounted to 2.02 billion, equal to approximately 22% of revenues. In 2023, consolidated operating free cash flow increased by 264 million, amounting to 1.43 billion euros. During the year, the group, specifies the note released this morning, strengthened its financial structure, reducing the leverage ratio to 3 times at the end of 2023 from 3.2 times at the end of 2022. This drop of 0.2 times was achieved thanks to year-on-year growth in EbitdaaL, as well as proceeds received from the sale of a 50% stake in PŚO and the sale of the remaining stake in OTP. Sii profits stood at 318 million, with a decline of 58% for which the group points the index against the sale of Otp to Cellnex which resulted in a one-off capital gain of 330 million in addition, in part, to amortization and increase of interest rates.

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As regards Italy alone, the company led in the country by Benedetto Levi achieved revenues in excess of one billion euros, up by 14.5% with EbitdaaL rising to 247 million (+17.2%). On the user front, the increase between one year and the next was 1.26 million (255 thousand more users in the last quarter in mobile alone). Compared to 2022. Furthermore, the note underlines, after less than six years, Iliad records a positive free cash flow of 4 million euros. «We are extremely satisfied with the results achieved in 2023, which confirm a strong increase and reflect the solidity of our vision, the effectiveness of our investments and above all, the trust of our users built step by step», commented CEO Levi .

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