(AOF) – Among the highest increases during the greater part of the session, Iliad (1.25% applicable to 169,4€) has returned to the downside in the afternoon. Investors have, therefore, chosen as the slowdown in the sequential growth of the turnover of the group in the fixed. The main contributor to the revenue of the Company, the latter rose 2.2% in the third quarter to 665 million euros. Analysts were more optimistic and were 669 million. Especially, the growth has been more dynamic, +2,9%, on the previous three months.
Iliad has said, inter alia, that the competitive environment had hardened on this segment in the third quarter, with numerous promotions from its competitors. So, although a commercial success, still strong (+66 000 new subscribers in the period, compared with +45 000 in the second quarter), Iliad is met with the installed power of Orange in the fiber and to the development of Bouygues in the entry, peering at Credit Suisse. This underperformance is all the more disappointing that the Iliad was still very present on the market niche of the investment in the fixed network, with 900 000 still catches connected. He had connected 600 000 in the first half.
However, analysts are likely to believe that the prospects for this segment are positive, and that the rebound will happen soon since the packages will integrate the channels of Canal+.
In the meantime, the disappointment on the fixed was therefore finally cast a shadow publication also bright, thanks to a robust activity on the mobile. The turnover of the Company in this segment has increased from 12.5% to 521 million euros, in acceleration compared to the increase of 10.4% recorded in the first quarter and the 10.7% recorded in the second.
The activity of Free Mobile is directly linked to a commercial conquest particularly strong since the group has attracted more than 300,000 new subscribers in the third quarter. Therefore, the group has again significantly accelerated its pace of conquest, thanks to its marketing efforts and to the enrichment of its offerings, since he had seduced 185 000 new subscribers in the second quarter. Analysts had been pencilling in an acceleration limited to +206 000.
In a note published this morning, Bryan Garnier emphasizes that these performances are accompanied by an acceleration of the growth in income per subscriber of the Company, estimated at +1.8 percent from +1.3% in the second quarter. This favourable evolution is explained in particular by the success of mobile offers the most expensive Free, to 19.99 euros per month. The operator justified this enthusiasm by the growing appetite of consumers for the use of mobile data, as 43% of its subscribers are subscribers 4G.
The majority of customers to Free mobile being, therefore, the users packages 3G, Credit Suisse questioned the sustainability of this pace of growth. The analyst asks how it might be impacted by the drop in the speed of roaming in the 3G from the next year.
in The end, the parent company of Free, has registered a growth of its total sales from 6.5% to 1.18 billion euros. The consensus gave to 1,169 billion euros.
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