Intred (ITD) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 reached €40.9 million, a 0.5% increase year-over-year, with core revenue up 7.5% YoY to €34.8 million after excluding non-recurring and low-margin items.

• Recurring revenue accounted for over 95.7% of core revenue, highlighting the stability and sustainability of the business model.

• The proprietary fibre network expanded to over 14,750 km, now covering every Lombardy municipality with at least one educational institution.

Financial highlights

• Ultra Broadband connections sales rose 8.8% and Voice/Data services increased 6.9% compared to 30 September 2024.

• Churn rate remained low at 4.3%, indicating strong customer loyalty.

Outlook and guidance

• Management expressed confidence in continued growth, supported by ongoing investments in network expansion and service quality.