Iliad reports higher core profit against tough telecom sector backdrop

(Reuters) – French telecom provider Iliad reported a 4.1% rise in its half-year core profit on Wednesday, supported by gains across its markets and the expansion of its activities in Italy.

The unlisted company, whose brands include Free Mobile in France, posted earnings before interest, taxes, depreciation and amortization and after leases (EBITDAal) of 1.64 billion euros ($1.78 billion) for the first half of 2023, up from 1.58 billion a year prior.

“In a macro-economic context that is still full of uncertainties, caution is called for, but Iliad’s development model is proving its robustness,” Chief Executive Thomas Raynaud said in a statement.

Iliad’s half-year performance makes it an outlier among industry peers, after French rivals Orange and SFR, part of the Altice group, both recorded weaker earnings growth for the period.

($1 = 0.9204 euros)