INTRED SPA TURNOVER FOR THE FIRST NINE MONTHS 2021 UP 11% TO 28.9 MILLION EUROS

Intred SpA TURNOVER OF INTRED SPA FOR THE FIRST NINE MONTHS OF 2021 UP 11% TO 28.9 MILLION EUROS 08-Nov-2021 / 12:00 CET / CEST

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Press release

INTRED SPA: FIRST NINE MONTHS 2021 TURNOVER UP 11% TO EUR 28.9 MILLION

LAUNCH OF THE CALL FOR SCHOOLS WITH THE ACTIVATION OF 442 SCHOOLS

ULTRA-WIDE BAND CONNECTIONS IN INCREASE OF 22%.

Brescia, November 5, 2021 – The Board of Directors of Intred SpA (“Intred” or the “Company”), a telecommunications operator listed on the EGM market of Borsa Italiana (ITD.MI) since July 2018, s ‘met today and reviewed the unaudited revenue for the nine months ended September 30, 2021, which amounted to € 28.9 million, up 11% over the same period from last year (including QCOM figures).

The increase in turnover is mainly due to sales of ultra-broadband connections, which amounted to 14.1 million euros, up 22% compared to the same period last year. Voice and data services also experienced significant growth (+ 14% to 5.7 million euros). As expected, following a strategic decision to encourage customers to switch to optical fiber

– the best technology available today – broadband connections are down (-17%, in line with previous years). There has been a significant reduction in ancillary services (-12%), which includes many one-off ex-QCOM services that are no longer strategic for INTRED.

More specifically, the strongest growth was recorded in recurring paid services, the company’s core business, which represent around 91.6% of turnover, or 26.5 million euros, an increase of 12 , 6%. One-off products / services revenue decreased 4.4% to € 1.9 million due to the disposal of low yielding and non-core ex-QCOM assets (websites, web marketing, sales IT equipment, etc.), a reduction mitigated by the single part relating to the call for tenders for schools of 0.5 million euros. Telephone traffic revenue also fell by 15.3% to 0.5 million euros, mainly due to the migration of users to flat-rate and / or voice and data solutions.

From a geographical point of view, the greatest improvement in terms of volumes was registered in the province of Brescia, where the company achieves the greatest part of its turnover, with an increase of 11% compared to the previous year. In percentage terms, the largest increase occurred in the province of Lecco with more than 50%, while the growth in the province of Bergamo was more contained, penalized by the divestiture of non-strategic services.

In terms of infrastructure, during the first nine months of 2021, the fiber optic network held has grown from 3,570 km on September 30, 2020 to more than 4,800 km on September 30, 2021, with a percentage increase of 36% .

Daniele Peli, co-founder and CEO of Intred SpA, said: “We are very satisfied with the continued growth of Intred, quarter after quarter, confirming the quality of our business and our ability to innovate and look towards to come up. This quarter, in particular, has been characterized by the management of the call for tenders for schools and given the number of activations in schools in Lombardy, we can only be satisfied because we are fully in line with the plan. For the coming months, our main focus will always be to expand our ubiquitous infrastructure, as this will allow us to increase the number of customers. ”

Regarding the type of customer, the strongest growth came from PA sales, up 62% thanks to the effects of the so-called schools call for tenders, which was awarded on March 1, 2021 and provides for the providing very high speed internet connectivity. for schools in Lombardy. Sales results in the residential sector were also positive, with growth of 17.3%, and in the wholesale sector, with growth of 11%. The professional category recorded the lowest percentage growth, + 5.4%, for two main reasons: on the one hand, the limitations imposed by COVID, which slowed down the commercial action of physical contact with customers as well as the ‘obtaining permits and the relative activation of FTTH PTP connections; and secondly, the sale of services previously offered by the acquired company QCOM, which are no longer strategic for INTRED.

EUR/million      9M2020          9M1H2021        YoY 
                                               Var. 
               Turnover %      Turnover % 
                                               21/20 
Residential    5.6      21.4%  6.5      22.7%  17.3% 
Professional   17.2     65.7%  18.1     62.6%  5.4% 
P.A.           1.0      4.0%   1.7      5.8%   62.0% 
Wholesale      2.3      8.9%   2.6      8.9%   10.6% 
Total          26.1     100.0% 28.9     100.0% 10.7% 

Growth in the number of users with data lines continues, reaching approximately 44,200 as of September 30, 2021, up 12% from the same period last year.

The churn rate on turnover remains at an excellent level and is equal to 4.5%.

Regarding the school tender, the cabling work has started and 442 schools across Lombardy were connected as of October 31, 2021.

***

This press release is online at www.1info.it and on the Issuer’s website www.intred.it (Investors section / Price sensitive press releases).

Intrepid

Leading telecommunications operator in Lombardy founded in 1996 by Daniele Peli, current Chairman and CEO of the company, and listed on the Italian market of the AIM Italia Stock Exchange since 2018 (symbol: ITD.MI). With an optical fiber network of more than 4,200 km, Intred offers its professional and private customers high and very high speed connectivity, fixed wireless access, fixed telephony services, cloud services and associated services. The direct management of infrastructures allows efficiency, profitability, quality of service and a guaranteed and extremely high level of assistance. Its high-value assets and its consolidated and highly scalable business model, combined with a turnover of 28.9 million euros as of September 30, 2021, make Intred an ideal infrastructure technology partner with a full range of high quality, reliable and secure solutions. www.intred.it

Euronext Growth Advisor Banca Profilo S.p.A. 
+39 02 584081 
                                             Investor   Relation CDR Communication Vincenza Colucci 
[email protected] 
                                             Tel. +39 335 6909547 
 
                                             [email protected] 
Specialist 
 
Integrae SIM S.p.A. 
                                             Claudia Gabriella Messina Tel. +39 339 4920223 
+39 02 87208720 
                                             [email protected] 
[email protected] 
 
 
                                             Media Relation 
Investor Relation Intred 
                                             CDR Communication 
CFO & Investor Relations Officer 
                                             Angelo Brunello Tel. +39 329 2117752 
Filippo Leone 
                                             [email protected] 
Tel. +39 391 4143050 
[email protected] 

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Diffusion of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this advertisement.

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End of the announcement – EQS News Service

1246962 08-Nov-2021

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(END) Dow Jones Newswires

November 08, 2021 6:00 a.m.ET (11:00 a.m. GMT)

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