Iliad chief bullish despite tough conditions

Iliad Group CEO Thomas Reynaud argued its Q3 was marked by contrasts, after it delivered solid earnings in an uncertain macroeconomic environment on the back of mobile subscriber growth.

The company reported a 12.5 per cent year-on-year revenue rise to €2.2 billion, with subscriber gains in all three markets of France, Italy and Poland.

Iliad’s Free brand in France had 184,000 mobile net additions, which it stated was “one of its best quarterly sales performances of the last ten years”.

Iliad Italia booked net additions of 261,000.

In Poland, its Play subsidiary’s tie-up with UPC began to yield its first results, with 121,000 net additions.

Reynaud stated Iliad “probably never had such strong business results”, but noted at the same time, “never in such an uncertain macroeconomic environment”.

“Although the coming months call for a cautious approach, our fundamentals remain strong and we will continue to invest in our networks and recruit new talent,” he added.

The company added it had the liquidity required to cover its financing requirements, but is exploring ways to limit the impact of rising interest rates.

It said it is also working hard across its business groups to change habits and significantly reduce energy consumption in line with climate pledges made in October.

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