Orange Q3 beats market view, reiterates guidance
Adds detail in paragraph 2, context about peers offers and CFO comments about Spain in paragraph 5 and 6
By Leo Marchandon and Michal Aleksandrowicz
Oct 24 (Reuters) -Orange ORAN.PA on Thursday reported third-quarter profit that was slightly ahead of market expectations, driven by a strong performance at its Africa and Middle East business, and reiterated its full-year guidance.
Group revenue, a notch above consensus, rose by 1.6% compared with the third quarter of 2023. Africa & Middle East was the main contributor, increasing by10.5%, its sixth consecutive quarter of double-digit growth.
Revenue in France increased 1.3%.
The French telecom operator posted earnings before interest, taxes, depreciation and amortization after leases (EBITDAaL), excluding Spain, of 3.35 billion euros ($3.61 billion). That was slightly above the 3.34 billion forecast by analysts in a company-compiled consensus.
Orange, market leader in France, gained a net 83,000 mobile
customers during the quarter, winning 6,000 customers for fixed
broadband and 259,000 for fiber.
Its peers Bouygues and Iliad have introduced cheaper plans earlier this month.
The company doesn't yet have an assessment of the impact of those moves, Orange's Chief Financial Officer Laurent Martinez said during a call with reporters after the earnings were published.
In late July, Orange announced a non-binding agreement with Vodafone Spain to create a jointfibre-to-the-home(FTTH) company covering 4 million customers.
El Confidencial reported in mid-October Orange was trying to sell its stake in this project.
Martinez said the company was expecting a closing of the deal by the end of H1 2025. Orange will retain 50%, Vodafone Spain 10% and a third financial partner was still being sought for the remaining 40%, he confirmed.
($1 = 0.9267 euros)
Reporting by Leo Marchandon and Michal Aleksandrowicz; editing by Matt Scuffham
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
