Open Fiber closes 2024 with revenues equal to 674,8 million euros, marking an increase of 16% compared to the 582 million recorded in 2023. TheEbitda stands at 276,3 million euros, up from 234 million the previous year, maintaining a stable marginality to 40%. However, the p is wideningnet loss to 364 million euros, compared to 296 million in 2023, a figure that is not yet indicative, given the intensive investment phase underway for the development of infrastructure. The net assets amounts to 1,27 billion euros, while the Net financial position reaches 6,04 billion euros. Open Fiber expects to reach positive cash flow by 2028, thanks to the solid growth and development strategy in place.
The 2024 Sustainability Report was also approved and updated the industrial plan, with the aim of consolidating and further expanding the company's activities.
Ten-year industrial plan updated
Open Fiber has updated its Industrial Plan, fixing a 10 billion euro investment horizon for the period 2025-2034. The aim is to connect over 20 million units real estate with Ftth (Fiber to the Home) technology, to support the country's digital transition. In support of these projects, the company has obtained a new credit line of 1,05 billion euros, “made available by leading national and international credit institutions”, in addition to the 7,2 billion already obtained through the previous project financing. The shareholders' commitment to a capital increase of 1 billion euros contributes to further strengthening the financial solidity of Open Fiber.
Furthermore, the company has concluded with Infratel Italia the procedure for rebalancing the economic-financial plans of the Conventions linked to the Ultra-Broadband Plan (Bul), with the assignment of contributions for 660 million euros by the Ministry for Innovation, in order to support the completion of the network.
Network Expansion and Active Customers
At the end of 2024, Open Fiber has 15,9 million real estate units connected, consolidating its position as a leader in the creation of optical fiber in Italy. The company has Extended coverage to 240 cities and 6615 municipalities, bringing fiber even to the less served areas, such as the White Areas. Currently, in addition 300 partners use the network created, including the main Italian operators and some international ones. Furthermore, Open Fiber has reached 3,3 million active customers, a number destined to grow thanks to the further expansion of the network and the marketing of Ftth services.
2025 will see a further Strengthening the commercial focus, both in the residential and business segments, with the aim of accelerating the migration towards new fiber optic lines and maximizing public and private investments in the network.
Sustainability report approved
The Board of Directors has Sustainability Report 2024 also approved, which marks the fifth consecutive year of publication and illustrates theOpen Fiber's commitment in the field of sustainability. Among the main results achieved, the approval of the First Sustainability Plan, a document that integrates ESG issues into the company's business model. In addition, the company has joined the UN Global Compact, the United Nations initiative aimed at promoting a more inclusive and sustainable global economy. Open Fiber has also confirmed important certifications in key areas such as Quality Management, Health and Safety, Environment, Energy and Gender Equality.
“Open Fiber confirms itself as thethe leading fiber optic operator Ftth d'Italia and one of the main protagonists of the digitalization of the country. The finalization of the project financing guarantees the company all the resources necessary to achieve the objectives of the industrial plan, and in particular to complete the Bul Plan in small municipalities and the 1 Giga Italy Plan financed with funds from the Pnrr. We continue to work to make available to all citizens, from large cities to rural and industrial areas, ultra-fast connectivity and the possibility of accessing the latest generation digital services" commented Joseph Gola, CEO Open Fiber.
