Iliad: net profit down 13% in 1H, confirms full year target

27 Aug 2009

French alternative telecoms operator and internet access provider Iliad posted net income of EUR72 million (USD102.8 million) in the six months ended 30 June 2009, down 13.1% from EUR82.9 million in the same period of 2008, largely the result of charges related to the integration of recently acquired ISP Alice. Iliad, which markets telephony, broadband and TV services under the brand name Free, said results were weaker than expected but confirmed its full year guidance, and said its integration of the Alice unit was on track. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased from EUR256.9 million in 1H08 to EUR307.8 million in the period under review, beating analyst expectations of EUR296.5 million. First-half revenue rose 40% year-on-year to EUR969.8 million, bolstered by the Alice takeover and a rise in broadband subscribers at its Free brand. Iliad is the largest alternative operator in France with 4.4 million subscribers as at 30 June 2009.

France, Iliad (Free)