Iliad presented its first-quarter results today. Pro forma organic growth in Group sales, which reached 2.2 billion euros in Q1 2023, stood at 8.0%. Sales rose by 7.6% in France, 12.6% in Italy and 7.3% in Poland.

EBITDAaL recorded pro forma organic growth of3.8% to 783 million euros, with each country reporting year-on-year growth in EBITDAaL. Group capital expenditure amounted to553 million euros in Q1 2023, up 14% on a pro forma organic basis.

Despite the impact of higher energy costs on EBITDAaL and the increase in growth capital expenditure in France and Poland, operating free cash flow remained at 229 million euros, representing a limited decline of 20 million euros over 12 months.

The Group's financial structure at the end of March 2023 has improved, with leverage of 3.1x at the end of March 2023, compared with 3.2x at the end of December 2022. All the Group's short- and medium-term financing needs are covered.

Thomas Reynaud, CEO of Groupeiliad, commented: "In our three countries of operation, we are consolidating our leading positions in the recruitment of new subscribers. We are making every effort to become Europe's most innovative operator.

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