- In telecom infrastructures, the TDF Group posted sales of 516.7 million euros, up +3.7%.
Backed by its extensive network of sites and long-standing customer relationships, the Group is consolidating the presence of mobile operators on its existing sites. In an increasingly competitive market, the Group now boasts over 22,000 points of presence on its towers and rooftop terraces, an increase of +3.1% (including +4.1% for the four main mobile operators).
To support the development of 5G in France and meet the connectivity needs of French homes and businesses, TDF has continued its industrial deployment of telecoms infrastructure. In 2024, more than 200 new mobile telecommunications towers were made available to operators, bringing the total to more than 1,800 since the tower construction program was launched in 2016.
The year 2024 was also marked by accelerating growth in Indoor mobile coverage, with sales up +31.5%. In 2025, the Group's ambition is to pursue the development of this "Indoor" business and to capitalize on new opportunities in Datacenters and Edge computing. In addition, over the past two years, the Group has positioned itself to develop new digital solutions through 4G and 5G private mobile networks, and has won its first contracts.
- In Audiovisual, revenues (273.9 million euros) are up +1% on 2023, confirming the resilience of this business.
The Digital Terrestrial Television broadcasting business has been marked by the massive deployment of Ultra High Definition broadcasting since the Paris 2024 Olympic Games. TDF's deployments enabled 75% of the population to enjoy the event free of charge in UHD quality on DTT. As a driving force for innovation, the Group is driving the technological evolution of the DTT platform, which remains more popular than ever with the public and broadcasters alike. The first large-scale experiment in 5G broadcasting was also carried out.
In 2024, the Group continued to roll out DAB+ digital radio (+89% sales growth), for national multiplexes as well as regional and local allotments. In FM radio, broadcasting contracts were renewed.
Sustained investment volume
In 2024, the TDF Group pursued its investment strategy in order to secure future growth and continue to control costs and resources. The Group thus invested 274.5 million euros, or 34.4% of its sales.
These major investments have enabled us to:
- Expansion of our mobile telephony infrastructure to 8,800 active sites (masts, towers, rooftop terraces, railway stations, etc.),
- Deployment and renewal of new audiovisual broadcasting systems, notably for UHD DTT and DAB+ digital radio,
- Continuing to transform the company, including digitally, for the benefit of customers and operational efficiency.
The strength and success of the Fiber business led to its sale to the Dutch investment fund CVC DIF.
Completed on December 30, 2024, the transaction involved the sale of the entire share capital, including TDF Fibre and its subsidiaries (Val d'Oise Fibre, Yvelines Fibre, Val de Loire Fibre, Anjou Fibre and Faucigny Glières Fibre) as well as the newly-created Lumière Fibre.
In November 2024, the Group also sold its Polish subsidiary PSN Infrastruktura.
In 2024, the TDF Group strengthened its financial structure and liquidity. In October, the Group carried out a bond issue for 500 million euros, at a fixed rate of 4.125% and maturing on October 23, 2031. This operation enabled the early repayment of existing debt maturing in 2026.
TDF honored for its environmental, social and governance (ESG) actions
A leading industrial player in France, TDF designs, deploys and maintains mobile telecommunications infrastructures and broadcasting networks essential to the population. TDF contributes to reducing the digital divide by providing audiovisual broadcasting and telecommunications services accessible to all, thus promoting digital and cultural inclusion. For its professional partners, TDF offers eco-responsible infrastructure and connectivity solutions, limiting the carbon footprint of networks while supporting sustainable innovation.
As part of its overall Corporate Social Responsibility (CSR) performance, the TDF Group was awarded a score of 96/100 in 2024 (for 2023) by the GRESB (Global Real Estate Sustainability Benchmark), the benchmark for the real estate infrastructure sector. TDF takes first place in Europe in the "Telecom Infrastructure" category, and maintains the "Five Star" status reserved for the top 20% of companies in all categories. TDF achieved excellent results, particularly in the area of social responsibility.
In terms of social performance, the Group improved (+1 point) with a professional equality index of 95/100. A forerunner in this field for several years, TDF implements a range of support measures aimed at three main objectives: ensuring gender equality in career development and promoting job diversity; supporting and facilitating the balance between parenthood and professional life; and preventing all forms of discrimination, violence, harassment or sexist behavior. In 2024, TDF is launching Potenti'Elles, an internal program designed to promote and strengthen female leadership.
Group results are shown excluding IFRS16 and the Fiber business, following its sale in December 2024.
EBITDAaL: EBITDA plus operating lease expenses and excluding IFRS 2 expenses, severance payments and related fees. See appendices for detailed figures.