INTRED S.p.A.: turnover for the first three months of 2023 rises to €12.2 million, an increase of 9.0%. More than 2,500 schools activated.

Press Release

INTRED S.P.A.: TURNOVER FOR THE FIRST THREE MONTHS OF

2023 RISES TO €12.2 MILLION, AN INCREASE OF 9.0%

MORE THAN 2,500 SCHOOLS ACTIVATED

Brescia, 4 May 2023 - The Board of Directors of Intred S.p.A. ("Intred" or the "Company"), a telecommunications operator listed on the EGM market of Borsa Italiana (ITD.MI) since July 2018, met today to examine the unaudited turnover for the period ending 31 March 2023, which amounted to € 12.2 million, up 9.0% compared to the same period last year.

Daniele Peli, Co-Founder and Managing Director of Intred S.p.A., commented: "In the first months of 2023, Intred continued along the growth path undertaken in recent years, thanks to the development of the fibre-opticnetwork and the activation of FTTH users throughout the Lombardy region; the Company has been strongly dedicated to these projects, also by leveraging the investments related to two school tenders that are driving the expansion of sales in provinces where INTRED had a marginal presence. The new reports published by the FTTH Council Europe on the deployment of fibre in Europe offer a snapshot of the sector and show Italy to be in constant growth; indeed, it is among the top 5 countries for new homes covered (+2.1 mln). In the coming months, we are confident in the continuation of this positive trend and, from a business point of view, to further consolidate our results through an increase in marketing activities and the introduction of new professionals with strong commercial expertise in the areas already reached by our network services over the past year".

The increase in turnover was mainly supported by sales of fibre-optic connections, up by 15.5 per cent compared to the same period last year.

Growth was mainly driven by services with recurring fees, the company's core business, which accounted for around 84% of sales, or € 10.3 million.

As to geographies, the most significant growth - in absolute terms - was reported in the provinces of Lodi, Varese, Como and Monza. Thanks to the Schools tenders, Intred is vigorously supporting the expansion of sales in provinces where it had a limited presence, especially in the local PA sector and the professional sector.

At the infrastructure level, in the first three months of 2023 the owned fibre-optic network continued to grow: from over 9,500 km as at 31 December 2022 to approximately 9,700 km at the end of March 2023, an increase of 3.0%.

Regarding the type of customer, the greatest growth came from sales in the public administration sector, with an increase of 39.0%. Sales in the professional sector also performed very well.

The churn rate on sales remained at an excellent level of 4.6%, confirming the high level of customer loyalty to the company.

With regard to the School Tender, 2,465 schools of the first tender were activated as of 31 March 2023 (61.5% of the total), as well as 66 schools of the second tender (5.2% of the total).

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This press release is online at www.1info.itand on the Issuer's website www.intred.it(Investors / Price Sensitive Press Releases section).

Intred

Reference telecommunications operator in Lombardy founded in 1996 by Daniele Peli, the company's current Chairman and CEO, and listed on the Italian Stock Exchange EGM market since 2018 (symbol: ITD.MI). With an optical fiber network about 9,500 km, Intred provides business, PA and retail customers with broadband and ultra- broadband connectivity, fixed access wireless, landline telephone services, cloud services and related services. The direct management of the infrastructures allow efficiency, profitability, quality of service and a guaranteed and extremely high level of assistance. Its high-value assets and consolidated, highly scalable business model, combined with a turnover of € 45.5 million as at 31 December 2022, make Intred an ideal infrastructure technology partner with a full range of high-quality, reliable and secure solutions. www.intred.it

Euronext Growth Advisor	Investor Relation Advisor
Banca Profilo S.p.A.	CDR Communication
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Investor Relation Intred	Media Relation
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