ILD.PA - Iliad SA

Paris - Paris Delayed Price. Currency in EUR
129.90
-1.10 (-0.84%)
As of 4:40PM CEST. Market open.
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close131.00
Open132.30
BidN/A x N/A
AskN/A x N/A
Day's Range129.05 - 132.90
52 Week Range74.20 - 141.70
Volume20,624
Avg. Volume240,276
Market Cap7.591B
Beta (5Y Monthly)0.13
PE Ratio (TTM)4.43
EPS (TTM)29.35
Earnings DateMar 17, 2020
Forward Dividend & Yield2.60 (1.98%)
Ex-Dividend DateJun 24, 2020
1y Target Est159.14
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • Do Iliad's (EPA:ILD) Earnings Warrant Your Attention?
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      Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

    • Reuters

      Can networks cope with millions working from home? So far, yes

      LONDON/BERLIN, March 17 (Reuters) - Some European telecoms operators reported connectivity problems on Tuesday as millions of people logged on for work at home due to the coronavirus pandemic, driving up data traffic by as much as 30% and testing networks. Governments from Spain to Austria have imposed strict lockdowns to curb the spread of the new coronavirus. At the same time, more calls are being placed over mobile networks rather than data-driven chat services like WhatsApp, as people check in with elderly relatives who are most at risk from coronavirus but less likely to use messaging apps.

    • GlobeNewswire

      Changes in Iliad’s Governance

      At the Board of Directors' meeting on March 16, 2020, Xavier Niel – founder of the iliad Group and its principal shareholder1, with an interest of over 71% – was unanimously appointed Chairman of the Board. Maxime Lombardini has been appointed Vice-Chairman of the Board of Directors. Jacques Veyrat, former Chairman & CEO of Neuf Cegetel and the Louis Dreyfus group, and currently Chairman of Impala SAS – a holding company which controls some fifteen companies operating notably in the energy and manufacturing sectors.

    • Reuters

      French telecoms pledge bandwidth 'discipline' in possible hit to Netflix

      French telecoms operators will exercise greater discipline allocating internet bandwidth from Monday as France braces for a surge in the number of people working from home, the industry lobby's chief said on Sunday. The move could affect access to video-streaming platforms such as Netflix and YouTube as well as Facebook, the world's biggest social network. "We're entering an exceptional phase which brings us to take a close look at the (traffic) peaks to which we have become accustomed," Arthur Dreyfuss, the head of France's telecoms lobby FFT, told Reuters by telephone.

    • GlobeNewswire

      Closing of the partnership deal with InfraVia for fiber in France

      Today, in line with the agreement announced on September 3, 2019, Iliad S.A. closed its strategic partnership deal with InfraVia (a French private equity firm specialized in infrastructure) through the sale of 51% of Investissements dans la Fibre des Territoires ("IFT") to InfraVia based on a 100% enterprise value of around €600 million. Formed specifically for the purpose of this partnership, IFT is a company dedicated to actively managing fiber lines.

    • Can You Imagine How Iliad's (EPA:ILD) Shareholders Feel About The 49% Share Price Increase?
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      Can You Imagine How Iliad's (EPA:ILD) Shareholders Feel About The 49% Share Price Increase?

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    • Telecoms group Iliad formally launches 1.4 billion euro capital increase
      Reuters

      Telecoms group Iliad formally launches 1.4 billion euro capital increase

      French telecoms and media group Iliad formally launched on Monday its previously announced plan for a 1.4 billion euros ($1.6 billion) capital increase, which will be used to finance a share buyback offer. Iliad, which runs the Free telecoms and internet service, said the capital increase would be priced at 120 euros per share, marking a discount of around 2.4% to Iliad's closing price of 123 euros on Jan. 17.

    • GlobeNewswire

      Results of Iliad’s public share buyback offer

      Today, the French securities regulator (Autorité des Marchés Financiers, or "AMF") published a notice announcing that 15,239,719 shares had been tendered to the share buyback offer launched by Iliad on the open market (the "Buyback Offer"). The Buyback Offer ran from December 23, 2019 through January 13, 2020 (inclusive) and offered shareholders the possibility of selling their Iliad shares back to the Company at a price of €120 per share, subject to an overall ceiling of 11,666,666 shares. As the total number of shares tendered to the Buyback Offer, i.e.15,239,719, was in excess of the maximum 11,666,666 that the Company had undertaken to repurchase, the number of shares in the buyback requests was reduced proportionately in line with shareholders' interests in the Company (in accordance with Article R. 225-155 of the French Commercial Code).

    • Should You Be Worried About Iliad SA's (EPA:ILD) 5.2% Return On Equity?
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    • GlobeNewswire

      Completion of transactions on its passive mobile infrastructure in France and Italy

      Paris, December 23, 2019 Completion of transactions on its passive mobile infrastructure in France and ItalyIn accordance with the agreement signed on May 7, 2019, Iliad SA.

    • Reuters

      Telecoms group Orange kicks off the carving-out of its towers in Europe

      Orange said it planned to carve out its mobile towers in most European countries where it is present, in a move aimed at shoring up the telecom group's value as tough competition in the region has hampered its growth and margins. The Paris-based company will retain control over all these new entities and is hoping to eventually merge them into a European company. "It is a vehicle that will enable us to play a possible role in consolidation at European level," Chief Executive Officer Stephane Richard said in a call with reporters on Wednesday.

    • GlobeNewswire

      Availability of the offer circular drawn up by Iliad concerning the share buyback offer involving 11,666,666 Iliad shares for the purpose of reducing Iliad's share capital

      This press release drawn up by Iliad is being published in compliance with Article 231-27, paragraphs 1 and 2, of the General Regulations of the French securities regulator – the Autorité des Marchés Financiers ("AMF"). In accordance with Article L.621-8 of the French Monetary and Financial Code (Code monétaire et financier) and Article 231-23 of the AMF's General Regulations, the AMF – pursuant to its compliance decision dated December 3, 2019 – has approved under visa number 19-557 the offer circular ("note d'information") concerning the offer launched by Iliad to buy back 11,666,666 of its own shares on the open market (the "Offer").

    • A Rising Share Price Has Us Looking Closely At Iliad SA's (EPA:ILD) P/E Ratio
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    • France's Bad Boy of Telecoms Joins the Geriatric Set
      Bloomberg

      France's Bad Boy of Telecoms Joins the Geriatric Set

      (Bloomberg Opinion) -- Xavier Niel is supposed to be the bad boy of French telecoms. He never finished college, once ran an online sex-chat service, and shook up incumbents like Orange SA with cheap pricing when he launched Free Mobile in 2012.That makes one element of his push to extend control over Free’s parent Iliad SA particularly surprising: the implicit admission that the Paris-based company is becoming just like any other boring telecom company. It's an overdue acknowledgement of market realities.It all comes down to the dividend. Mobile carriers have appealed to investors over the past decade not for their growth prospects but their generous dividend payouts. European telecommunications firms will have an average dividend yield of 5% this year, according to estimates compiled by Bloomberg. That compares with the 3.3% average of the broader Stoxx 600 Index of European companies.Iliad has differed from the crowd. Its 12-month yield has averaged 0.8% since 2009. That’s because it promised growth — the stock climbed almost three-fold between 2009 and 2017. But the past two years have been a different story. Before today, the shares had fallen 63% from their 2017 peak as French rivals reclaimed market share from the low-cost upstart.On Tuesday, Niel announced plans to boost his holding in the firm by as much as 20 percentage points. The complicated structure will see Iliad buy back up to 1.4 billion euros ($1.5 billion) of stock for 120 euros per share, then issue new shares of an equivalent amount that Niel has pledged to buy, in a rights issue to which other shareholders can also subscribe. At the same time, Iliad announced it would increase the dividend by a chunky 189% to 2.60 euros, bringing the yield to more than 2%. That’s still very much at the low end of its peers but a substantial change in policy, particularly at a time when the region’s giants — Vodafone Group Plc and Deutsche Telekom AG — are cutting their dividends as they anticipate increased spending on 5G networks.For Niel, it’s a canny way of using the company’s stronger balance sheet to extend his control. Iliad is expecting proceeds of more than 2 billion euros from the sale of infrastructure assets this year. If he increases his stake to above 70% from the current 52%, as the buyback and rights issue might allow, he can expect annual dividend proceeds exceeding 100 million euros. That can help him service the personal debt that he’s likely assuming to fund the rights issue. The move may also strengthen Niel's hand and his financial upside, should the perennial on-again, off-again efforts to consolidate the French market resume.The steps at Iliad don’t particularly disadvantage existing shareholders financially, even if they do seem to be very much in Niel’s interest. They’re under no obligation to sell, and have already benefited from a jump in the share price, which climbed 18% on Tuesday. Nor does the increased payout significantly weaken the firm’s finances: The dividend payout will top 154 million euros. Net debt of 3.7 times Ebitda will fall closer to 2.5 times Ebitda. And it’s far less outrageous than the self-interested efforts of fellow French billionaire Vincent Bollore and his family to extend control over Vivendi SA. The Bollores are simply carrying out a buyback of the media conglomerate’s shares, then canceling them, leaving the family with a bigger stake without increasing their financial risk.But for all of Niel’s assertions that the investment reflects his “confidence in the company’s industrial project,” he will likely need Iliad to continue the more generous dividend payouts to service his greater debt. That will gradually chip away at Iliad’s ability to engage in costly price wars to drive market share. Instead, it’s becoming more like its rivals, generating steadier, more predictable returns, rather than promising stratospheric stock growth.To contact the author of this story: Alex Webb at awebb25@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

    • Iliad founder ready to pour 1.4 billion euros into the telecom firm
      Reuters

      Iliad founder ready to pour 1.4 billion euros into the telecom firm

      French billionaire Xavier Niel said on Tuesday he was ready to pour 1.4 billion euros into Iliad to show his commitment to the telecoms group he founded and majority owns, despite several tough quarters and a share price plunge. Iliad, whose cut-price phone deals shook up France's mobile market, was beaten at its own game in recent quarters as a price war dented its market share, undermined its profitability and more than halved the value of shares in the past two years. Niel, who owns a little more than 52% of Iliad, said in a call with analysts that he heard the frustration of some of the group's shareholders but that he still believed in its strategy.

    • GlobeNewswire

      Communiqué de presse relatif au dépôt d’un projet de note d’information relative à l’offre publique de rachat initiée par Iliad portant sur ses propres actions

      COMMUNIQUÉ DE PRESSE RELATIF AU DEPOT D’UN PROJET DE NOTE D’INFORMATION RELATIVE A L’OFFRE PUBLIQUE DE RACHAT INITIEE PAR ILIAD PORTANT.

    • GlobeNewswire

      Iliad announces a plan to launch a €1.4 billion share buyback offer on the open market at a price of €120 per share, representing a premium of 38%

      A share buyback offer representing up to €1.4 billion and involving 11,666,666 shares (19.7% of the Company’s share capital), at a price of €120 per share, giving shareholders the opportunity of having cash returned to them, with a significant 38% premium on the volume-weighted average price of the Iliad share over the last three months.

    • Here’s why Iliad SA’s (EPA:ILD) Returns On Capital Matters So Much
      Simply Wall St.

      Here’s why Iliad SA’s (EPA:ILD) Returns On Capital Matters So Much

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    • Is Iliad (EPA:ILD) Using Too Much Debt?
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    • GlobeNewswire

      Iliad announces a partnership aimed at accelerating fiber rollouts outside very densely populated areas

      The Iliad Group and InfraVia (a French private equity firm specialized in infrastructure) have entered into exclusive talks to set up a partnership aimed at accelerating FTTH rollouts outside very densely populated areas of France (representing around 26 million lines), via a specially created entity. As part of the operation, Iliad has set up a special entity to actively manage fiber lines.

    • U.S. Firms Steer Clear of Europe's Big Mobile Tower Sell-Off
      Bloomberg

      U.S. Firms Steer Clear of Europe's Big Mobile Tower Sell-Off

      (Bloomberg) -- European phone companies are selling their mobile masts and growth-hungry U.S. tower companies have money to spend -- it looks like a marriage made in heaven.Instead, firms like American Tower Corp. and Crown Castle International Corp. are largely staying away, making it easier for Spain’s Cellnex Telecom SA and infrastructure funds managed by Macquarie Group Ltd., KKR & Co. and others to sweep up the region’s tower assets.Their hesitation is driven partly by price: the global hunt for yield has driven up the premium for these assets, which offer reliable, steady income streams. Independent tower companies also won’t pay top dollar unless they see a path to significant revenue growth -- and that’s where they have a problem with Europe.“The American tower companies say, ‘OK, Europe is fine at the right price, but prices are not where we need them to be, so we think the opportunities elsewhere are more attractive,”’ said Nick Del Deo, senior analyst at U.S. research firm MoffettNathanson.Tens of thousands of European masts are expected to see ownership changes in the next two years as companies such as Iliad SA, Vodafone Group Plc and Telecom Italia SpA bring in new investors to reduce debt and share the heavy cost of rolling out 5G technology.But only a quarter are likely to end up with independent operators, according to TowerXchange. Vodafone and CK Hutchison Holdings Ltd. are creating separate units for almost 90,000 towers and the consultancy expects them to maintain control over those businesses. That’s a turn-off for independent companies, which try to maximize revenue by leasing mast space to as many network operators as possible.Many European carriers want to keep some hold on their towers because they see mobile infrastructure as a strategic asset that can help them manage costs and perhaps gain a competitive edge. They’re also mindful of what happened in the U.S., where operators rushed to sell their towers more than a decade ago only to find themselves stuck with a big bill for leases and capacity rights.Vodafone Surges on Possible IPO, Stake Sale of Towers UnitVodafone and Telefonica Ink 5G Terms in Move to U.K. Tower SalesNiel Agrees to $3 Billion of Phone Tower Sales to CellnexCK Hutchison to Separate Out European Phone Towers BusinessSelling full ownership of towers to independent players can spur innovation and reduce expenses by encouraging carriers to share infrastructure, avoiding costly duplication. European carriers’ insistence on maintaining control means the continent’s progress in rolling out 5G will likely continue to be slower compared to the U.S., where towers are largely in independent hands.“There is a risk that the European carriers go too far the other way,” Del Deo said. “The captive tower model, if you look globally, has never proven to be that effective.”For now, American Tower is mostly relying on building towers in Africa, Latin America and India for its international growth.Crown Castle didn’t respond to a request for comment on its future European asset bidding plans. American Tower declined to comment. Its chief executive officer, James Taiclet, told analysts last month that recent large European tower sales didn’t meet its bar for growth prospects and asset costs.Here are some other reasons why U.S. tower firms aren’t piling into Europe:Redundancy: Europe has more cases of towers operated by rival carriers sitting in close proximity. An independent owner may want to remove one to cut costs, but the tower often comes with a ground lease that they must keep paying for years.Less Potential: Europe has lots of rooftop antenna sites, which can’t accommodate as many customers as can a ground-based tower. Many European portfolios include broadcast towers in rural areas that may not be as valuable as mobile towers.Radio Emission Rules: In some countries, rules on maximum electromagnetic radio emissions limit the number of antennas a tower firm can install at a single site.\--With assistance from Scott Moritz.To contact the reporter on this story: Thomas Pfeiffer in London at tpfeiffer3@bloomberg.netTo contact the editors responsible for this story: Kenneth Wong at kwong11@bloomberg.net, Jennifer Ryan, Anthony PalazzoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.