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CK HUTCHISON HOLDINGS LIMITED

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Delayed Hong Kong Stock Exchange  -  04:08 2022-06-30 am EDT
53.05 HKD   -0.56%
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Iliad core profit up 5.4% on higher France, Italy revenue

05/20/2022 | 03:43am EDT
FILE PHOTO: Guests waits before French telecoms operator Iliad the media conference in Milan

PARIS (Reuters) - French telecoms firm Iliad said on Friday that its core operating profit in the first quarter was up 5.4% from a year earlier, driven by higher revenues at home and in Italy.

Earnings before interest, tax, depreciation and amortisation after leases (EBITDAaL) grew to 714 million euros ($755 million)over the period, Iliad said in a statement, while first-quarter sales rose by 4.8% to 1.9 billion euros.

Iliad, whose owner Xavier Niel took the company private last year via a 3.1 billion-euro buyout, reiterated its aim to grow in the three countries where it operates.

These also include Poland, where it recently acquired the country's fixed internet operator UPC from U.S. cable operator Liberty Global.

"Our priority remains to grow organically," Chief Executive Thomas Reynaud said, adding that the group was open to acquisitions, notably in Italy, where its $13 billion bid to buy Vodafone's business was rejected by the British telecoms firm.

"If a consolidation were to take place (in Italy) and if a player were to sell its Italian asset, we would look into it," Reynaud said on a results call.

Iliad is also seeking to reach a deal with rival Wind Tre in Italy to share the costs of the rolling out of their mobile network.

Reynaud said in March that Iliad was close to a deal with Wind Tre, owned by conglomerate Hutchinson. Talks are still ongoing and a transaction has not yet been finalised, a spokesperson for Iliad said.

($1 = 0.9458 euros)

(Reporting by Mathieu Rosemain; Editing by Alexander Smith)

By Mathieu Rosemain


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CK HUTCHISON HOLDINGS LIMITED -0.56% 53.05 Delayed Quote.5.47%
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Financials
Sales 2022 435 B 55 401 M 55 401 M
Net income 2022 34 793 M 4 434 M 4 434 M
Net Debt 2022 158 B 20 078 M 20 078 M
P/E ratio 2022 5,87x
Yield 2022 5,35%
Capitalization 203 B 25 924 M 25 924 M
EV / Sales 2022 0,83x
EV / Sales 2023 0,80x
Nbr of Employees 300 000
Free-Float 69,4%
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Number of Analysts 12
Last Close Price 53,05 HKD
Average target price 74,48 HKD
Spread / Average Target 40,4%
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Managers and Directors
Tzar Kuoi Li Group Co-Managing Director & Deputy Chairman
Kin Ning Fok Group Co-Managing Director & Executive Director
Frank John Sixt Group Finance Director & Executive Director
Yick Ming Wong Independent Non-Executive Director
Hoi Chuen Cheng Independent Non-Executive Director
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