Telecommunications: Fastweb and Vodafone report first-half revenues of nearly €3.6 billion.

Total revenues for Fastweb + Vodafone remained stable in the first six months of the year at €3,593 million (-0.4% compared to the same period in 2024). This is evident from the financial results for the first half of 2025, which highlight the initial effects of the strategy launched in the previous months. As of June 30, 2025, mobile, residential, and business customers totaled 20,207,000, up 0.5% compared to the first half of 2024, for a market share of 26%. Fixed-line, residential and business customers totaled 5,792,000 (-3.3%), for a market share of 31%.

EBITDA including lease costs reached €808 million (-9.8% compared to the first half of 2024), while Capex amounted to €703 million (-10%) and Operating Free Cash Flow (OpFCF) was €105 million (-8.7%). Adjusted EBITDAaL, which excludes integration costs with Vodafone Italy, amounted to €828 million (-7.6% compared to the first half of 2024), while adjusted Capex stood at €669 million, down 8.2% compared to the same period last year.

Adjusted operating free cash flow (OpFCF) thus reached €159 million (-4.8% compared to the first half of 2024). In the residential segment, where competitive pressure remains high, total revenues stood at €1,673 million, down 2.6% year-over-year, but the "value" strategy is starting to have its first positive impacts. Revenues from beyond-the-core services, particularly from Energy, are growing strongly.

At the end of June, just over a year after the launch of the offer, 70,000 residential customers had activated Fastweb Energia, an increase of 620% compared to the first half of 2024. Mobile customers stood at 15,818,000 (-2.3% compared to the first half of 2024) and landline customers at 4,663,000 (-3.9% compared to the same period last year).