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Third quarter 2021 financial information at 30 September 2021

Orange delivers a sustained commercial performance and confirms all of its 2021 objectives
 

In millions of euros

 

3Q 2021

change

comparable

basis

change

historical

basis

 

9M 2021

change

comparable

basis

change

historical

basis

Revenues

 

10,508

(0.4)%

(0.7)%

 

31,374

0.9 %

0.1 %

EBITDAaL

 

3,550

(0.7)%

(1.0)%

 

9,387

(0.5)%

(1.2)%

eCAPEX (excluding licenses)

 

1,709

(1.0)%

(1.2)%

 

5,554

14.3 %

13.7 %

EBITDAaL - eCAPEX

 

1,841

(0.4)%

(0.7)%

 

3,833

(16.2)%

(16.9)%

 

 

§ Continued good commercial performances:

- 11.3 million convergent customers

- 10.8 million Fiber (FTTH) customers out of 53.8 million connectable households. The FTTH client base rose 25.5% year on year, driven in particular by France and Poland

§ Revenues down slightly (-0.4%)[1] in Q3 2021.

§ They rose 1.3% excluding co-financing:

- strong performance in retail services[2] with an acceleration in revenue growth from convergence (+2.9%), mobile (+5.6%) and fixed broadband (+5.2%)

- France recorded a 4.1% decline, but was virtually stable excluding co-financing thanks to retail services where growth accelerated (+3.7% excluding PSTN)

- Europe excluding Spain rose 2.0% with retail services growth accelerating (+5.7%). Spain was down 4.4% despite a slight pick-up in retail services

- Africa & Middle East: another very strong performance at +12.0%

- Enterprise declined (-1.4%) due to a decrease in fixed services (-5.2%) which was not offset by the growth in IT & Integration services (+2.1%) and mobile services (+3.5%)

- International Carriers & Shared Services grew 10.8%

§ EBITDAaL decline was limited to 0.7%, impacted by the lower level of co-financing received in France. EBITDAaL grew 4.5% excluding co-financing.

§ eCAPEX was down slightly: -1.0% in Q3 2021 after a strong increase in the first half due to investments in Fiber and in Africa & Middle East, in line with the objectives for 2021.

The Group is maintaining its financial objectives for 2021after allocation of the tax refund[3]:

§ stable but negative EBITDAaL,

§ eCAPEX of 7.6 to 7.7 billion euros,

§ organic cash flow from telecoms activities of over 2.2 billion euros

§ net debt/EBITDAaL ratio for telecom activities remaining at around 2x in the medium term.

 

Read the full press release

 

[1] Unless otherwise stated, the changes presented in this press release are on a comparable basis.

[2] Includes B2C and B2B services. See the definition in Appendix 5: glossary.

[3] These targets take into account the allocation of the 2.2 billion-euro tax refund received at the end of 2020 after the French Council of State ruled in the Group’s favor in a long-running tax dispute, which is intended to generate long-term added value for the Group but will have an impact on objectives in the short term.

 

 

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