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Agamemnon and Achilles were unavailable for comment at time of press. We will keep Troying.
French communications firm Iliad (EU:ILD) has reported a 27% increase in sustained group revenue, a 40% rise in EBITDA and 78% jump in consolidated profit as part of its full-year results. In a statement the Iliad Group said that they had seen “continued growth for both its landline and mobile businesses as well as higher profitability” during the the first half of 2013.
Arguing that there were “numerous innovations during the period” the company said that the first half of 2013 had been “particularly dynamic” for free offerings with over 12m subscribers, an increase of 2m during the Q1-2 period. The company argue this is partly as a result of the launch of the Freebox OS and Femtocells, the opening up of VDSL2 technology to subscribers and the introduction of a new offer for France’s large Portuguese community.
According to the company’s half-year results the first six months of 2013 saw strong growth of over 9% for the landline business, allowing Iliad to “cement its position as France’s leading alternative landline operator and to notch up the largest number of net adds in the market for the sixth quarter in a row”. In parallel, the landline business’s profitability continued to rise, with EBITDA up by more than 15%.
Net adds for the Group’s mobile business came to over 1.5 million in the first half of 2013 bringing the total number of mobile subscribers to nearly 6.8 million, which represents a market share of 10.3%. Revenues generated by the mobile business were up 88% on first-half 2012, topping the €600 million mark.
At €586 million, consolidated EBITDA was 40% higher than in first-half 2012, propelled by the rise in profitability achieved by the landline business and the €54 million contribution from the mobile business. This increase in EBITDA fueled a 78% jump in profit for the period.
Another positive result reported was that Free Cash Flow from ADSL operations climbed 27% to €291 million. This “robust performance” from the Group’s traditional business has allowed it to generate €47 million in Free Cash Flow for first-half 2013, compared with a negative €130 million in the first six months of 2012. This cash generation, combined with the higher profitability achieved during the period, strengthened the Group’s financial structure with the leverage ratio coming in below 1x at June 30, 2013, at 0.95x.
There are Menelaus to these results from Paris, of c-horse.
Do I detect a Hectoring tone from you Phil?
Definitely not. I would go to Helen back to defend the results.
That might be Priamature of you, as it may not be necessary.
Either way, I’ve heard it Myrmidon the grapevine that the company is doing ok.
Yes, they are the (Ajax the) Lesser of two evils.