Improved LeverageSignificant deleveraging materially lowers refinancing and interest-rate risk and increases financial flexibility. With equity around €12.2B, a smaller debt stock improves capacity to fund network investment, absorb shocks, and prioritize strategic capex or M&A over the medium term.
Profitability TurnaroundA return to positive net income and double-digit EBIT margin shows the core telecom business can generate operating profits. Sustained margins provide internal funding for infrastructure upgrades and services, support credit metrics, and make earnings less dependent on external financing.
Positive Cash GenerationRestored operating and free cash flow demonstrates the company can generate real cash to service debt and fund capex without recurring external support. If sustained, consistent cash generation will be a durable enabler of deleveraging and necessary network investments over the next several quarters.