Eir-owner Iliad targets €10bn in revenues across Europe this year

Group is aiming to become the fifth-largest mobile operator in Europe, Iliad said

Eir reported earlier this week it generated €1.3bn in revenues in 2023, an increase of 4% from the previous year. Picture: RollingNews.ie

France's Iliad, which owns Eir and other telecom firms, is targeting €10bn in revenues for 2024, up from almost €9.25bn last year, and saw opportunities for growth in the Italian corporate market.

The unlisted group is aiming to become the fifth-largest mobile operator in Europe, Iliad, which is founded and majority-owned by French billionaire Xavier Niel, said. 

The company has a presence in eight European countries, which includes taking majority control of Eir six years ago, and has pushed for consolidation of Europe's telecoms sector. 

Asked about potential interest in Italian telecom companies, CEO Thomas Reynaud said the group did not comment on market speculation but aimed to win "significant market share" in the fixed-line business.

Vodafone rejected last month a sweetened offer from Iliad to merge their Italian businesses. A source with knowledge of the matter said at the time merger or disposal talks between Vodafone and Swisscom's Fastweb Italian unit were more advanced. 

"We are very interested in the Baltic countries and Sweden", Mr Reynaud said, referring to Iliad's acquisition of almost 20% in Swedish telecoms operator Tele2 in February.

The company reported €3.44bn in earnings in 2023, a 4.2% increase year-on-year, bolstered by its French and Italian markets. 

Eir reported earlier this week it generated €1.3bn in revenues in 2023, an increase of 4% from the previous year. 

Free, Iliad's brand in France, racked up 787,000 net new mobile subscribers in 2023, while in Italy, the group gained 1.16 million net new subscribers via its Iliad Italia brand. 

• Reuters and Irish Examiner