In 2025, the iliad Group confirms record growth for the fourth consecutive year with 52 million users, confirming its leadership among the main European groups in the company’s three core markets (France, Italy and Poland). Compatibly with this growth, iliad Italia also recorded positive results and a stable growth in the number of users. “2025 confirms itself as a year of important results for iliad in Italy. We have exceeded 13 million users between mobile and landline and more than tripled the operating free cash flow”, said CEO Benedetto Levi, adding that growth was favored by innovation, efficiency and constant attention to the quality of the service.
The main financial indicators of the Group
In 2025 the Group exceeds the target and reaches 10.3 billion euros in turnover, up 3.2% on an annual basis, and records an EBITDAaL of 4.042 billion, up 5% compared to 2024, thanks to the positive operational performances in the various markets in which it is present.
Over the year, investments amounted to 1.8 billion, down 11.5% compared to the previous year. The Group has invested more than 17% of its revenues in 4G/5G coverage in the three countries in which it operates, in the migration of its fixed network subscribers to fiber optics, in the expansion of ultra-broadband subscribers and in its B2B activities (connectivity, cloud and processing capacity).
Operating free cash flow also showed significant progression, growing by 23.2% in 2025, exceeding the target of 2 billion euros and reaching 2.25 billion, further strengthening the Group’s ability to support its development and investment plans.
iliad continues to grow in Italy
iliad Italia, in 2025, exceeded the threshold of 13 million users between mobile and landline, strengthening its role in the national panorama. In the mobile segment, the operator further consolidates its growth leadership, ranking first in terms of net user growth and maintaining this record for eight consecutive years. 2025 ends with approximately 12.6 million mobile users and a positive balance of 918 thousand new users over the course of the year, while in the FTTH segment there was growth of 146 thousand new users for a total of 496 thousand users.
Revenue stood at 1.2 billion, up 9% on an annual basis, while EBITDAaL reached 390 million, with an increase of 26.8%.
Operating free cash flow is also booming, reaching 120 million, more than tripled compared to 2024; iliad’s mobile activities generated an operating free cash flow of 176 million euros, confirming iliad’s growing ability to generate resources to reinvest in the country, to support digitalisation and the development of increasingly efficient networks.
