Altice France

France · www.alticefrance.com · 9 vendors

Altice France S.A. is a major telecommunications company in France, operating through its main brand SFR. It provides a comprehensive range of fixed, mobile, fiber, and ADSL telephony services. These services include digital and analog television, high-speed internet, and broadband digital telecommunications platforms for individuals, businesses, operators, and local authorities.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 9 sub-vendors.

Insights

Last updated 2026-08-07 · revision 1

9 direct vendors, 136 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 8/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Altice France exhibits strong migration readiness, largely driven by its highly modern and agile internal tech stack. The extensive use of cloud-native technologies such as OpenStack, Kubernetes, Docker, and Red Hat OpenShift, coupled with robust CI/CD pipelines (Jenkins, GitLab CI/CD) and infrastructure as code tools (Ansible, Terraform), indicates a high degree of architectural flexibility, automation, and portability. This foundation is ideal for adopting public cloud services, re-platforming applications, or transitioning to microservices architectures. The primary challenge to migration readiness is the 'Vendor Lock-in Risk: Unknown.' Without specific information on the number of vendors, the nature of their services, and contractual complexities, it's difficult to assess potential dependencies and the cost/effort associated with migrating away from existing vendor solutions. The absence of data regarding specific regulatory compliance requirements, data residency constraints, and financial capacity to fund a large-scale migration also introduces uncertainty into the assessment.

Compliance

9 in-scope frameworks identified; showing 3.

GDPR (source) — Partially Compliant

Altice France (via SFR) is France's second-largest telecom operator processing personal data of over 26 million customers, plus ~37,306 employees and numerous suppliers. The CNIL (French Data Protection Authority) is an active enforcer — SFR has faced prior CNIL scrutiny and the 2024 DPEF explicitly acknowledges a data breach in 2024 affecting customer personal data, requiring regulatory notifications. The company has a DPO structure and GDPR relay network in place, but the confirmed breach and ongoing commercial prospecting compliance challenges indicate partial compliance. Fines under GDPR can reach €20M or 4% of global annual turnover (~€415M based on €10.4B revenue). The telecom sector is a high-priority enforcement target for the CNIL.

Evidence: https://static.s-sfr.fr/AlticeFrance/publications/Investors/Esg/2025/sfr-alticefrance-dpef-2024-en-250429.pdf, https://alticefrance.com/investors/esg-english.html, https://alticefrance.com/altice-france/ethique-affaires/

HDS — Compliant

SFR Business holds HDS certification for its cloud computing and data centre operations, which is required under French law (Article L. 1111-8 of the French Public Health Code) for any entity hosting personal health data on behalf of healthcare organisations. The risk is low because: (1) Active HDS certification is confirmed; (2) The certification covers the same 8 data centres as ISO 27001; (3) The certification is maintained alongside ISO 27001 as an integrated management system; (4) AFNOR certification is displayed in the DPEF.

Evidence: https://static.s-sfr.fr/AlticeFrance/publications/Investors/Esg/2025/sfr-alticefrance-dpef-2024-en-250429.pdf

Loi Sapin II — Compliant

Altice France is subject to Loi Sapin II (Law No. 2016-1691) as a large French company exceeding the thresholds (500+ employees and €100M+ revenue). The company has implemented all eight pillars of the Sapin II anti-corruption programme. The risk is low because: (1) The programme is explicitly confirmed in the 2024 DPEF; (2) An Anti-Corruption Code of Conduct has been updated; (3) A whistleblowing platform was launched in February 2024; (4) 83% of employees have completed the anti-corruption e-learning; (5) A Business Ethics Committee meets quarterly; (6) Third-party integrity assessment system is in place.

Evidence: https://static.s-sfr.fr/AlticeFrance/publications/Investors/Esg/2025/sfr-alticefrance-dpef-2024-en-250429.pdf, https://alticefrance.com/altice-france/ethique-affaires/

Financials

Three-year financials

Financial Resilience Score: 4/10

Altice France's financial resilience has improved materially following the October 2025 accelerated safeguard restructuring, which eliminated approximately €8.6 billion of term debt and pushed the weighted average maturity to 5.0 years with no material maturities before 2028. Operating free cash flow grew 5.7% in FY 2025 to €1.4 billion despite revenue decline, reflecting a sharp 23% reduction in capex as the fibre and 5G rollout matures. The pending April 2026 sale of Mainland France telecom activities to a Bouygues/Iliad/Orange consortium at €20.35 billion enterprise value provides a clear deleveraging path. However, the underlying business is deteriorating: revenue fell 8.4% in FY 2025 and 5.6% in FY 2024, EBITDA has declined 21% over two years from €3.7B to €2.9B, and EBITDA margin has compressed from 34.6% to 31.8%. Net leverage remains elevated at 5.3× EBITDA post-restructuring, with a weighted average cost of debt of 7.7%. Historically negative shareholders' equity, structural competitive pressure in the four-player French mobile market, and antitrust risk on the pending sale weigh against resilience. Overall, the company remains financially fragile but has bought time and optionality through restructuring and the announced disposal.

Key strengths: €8.6B debt reduction via October 2025 accelerated safeguard restructuring, No material debt maturities before 2028; 5.0 year weighted average maturity, Operating Free Cash Flow up 5.7% in FY 2025 to €1.4B, Pending €20.35B sale to Bouygues/Iliad/Orange consortium (April 2026), Scale position as #2 French telecom with 41.8M fibre homes passed and ~25M customers, Customer NPS turned positive in 2025 for both fixed and mobile

Risk factors: Revenue declining sharply (-8.4% in 2025, -5.6% in 2024), EBITDA down 21% over two years; margin compression from 34.6% to 31.8%, High leverage remains at 5.3× net debt/EBITDA post-restructuring, Weighted average cost of debt of 7.7%, Historically negative shareholders' equity, Mobile service revenue down 11.2% in FY 2025 due to pricing pressure, Antitrust/regulatory risk on the three-way sale to competitors, Structural competition from Free/Iliad in four-player French mobile market

Revenue by geography

Revenue by product/service

Workforce by country

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