Iliad’s mobile arm was again the standout performer in the first six months of 2015 as its low-cost tariffs continued to draw in subscribers.
The French group saw sales of €2.16 billion between January and June, an increase of 6.9 percent compared to the same period in 2014.
This chiefly came from Iliad’s mobile subsidiary Free, where revenue increased by 18.1 percent year-on-year to hit €880 million.
Free now accounts for more than 40 percent of Iliad’s total consolidated revenues.
The operator pulled in 820,000 new subscribers during the first sixth months of 2015, making it France’s leading recruiter of mobile subscribers for the 14th consecutive quarter.
According to Iliad, Free now holds a 16 percent share of the country’s mobile market with nearly 11 million subscribers.
The operator credited the continued growth of Free to “the Group’s policy of constantly enriching its mobile offerings”, such as the addition of a new €20 roaming tariff launched in July.
Meanwhile, Iliad’s fixed-line sales grew by a more modest 0.5 percent in H1, hitting €1.3 billion.
The operator pulled in 123,000 broadband customers during the period, bringing the total subscriber base to just shy of six million.
Iliad’s 4K set-top box continued to prove a major intuitive for new customers, the company claimed, while ongoing investment in fibre and the migration of customers to VDSL2 and FTTH curried favour with users.
The operator said it now has nearly 17 million customers across fixed and mobile.
Meanwhile, group EBITDA for the period grew 16 percent to €725 million, with net profits up 16.4 percent up €163 million.
The operator is targeting growth of 10 percent in consolidated EBITDA in 2015 and margins of over 40 percent by the end of the decade.
There was one red flag, however: Iliad posted net debt of €1.16 billion for the first sixth months of the year, 25 percent higher than the same period in 2014.