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Orange grows revenues, EBITDA 1% in Q2
2015-07-28 08:45:00| Telecompaper Headlines
(Telecompaper) Orange reported second-quarter revenues up 1.0 percent from a year earlier to EUR 9.885 billion, helped by a recovery in the business market and improving trends in mobile revenues in its main markets France and Spain. On a comparable basis, adjusted for acquisitions and currency effects, revenues fell 0.2 percent, slowing from a 0.9 percent decline in the first quarter. Adjusted EBITDA rose 1.1 percent year-on-year to EUR 3.290 billion, helped by the stronger dollar and lower indirect costs, especially a lower headcount. On a comparable basis, EBITDA fell 0.4 percent from a year ago, and the margin was stable at 33.3 percent. Orange maintained its outlook for full-year EBITDA of EUR 11.9-12.1 billion, after a slightly lower result of EUR 5.807 billion in the first half of 2015. The forecast does not include the planned acquisitions of Jazztel and Meditel. The company also reported a strong improvement in net profit over the first half, to EUR 1.283 billion from EUR 728 million a year ago thanks to a better contribution from EE in the UK. Capital expenditure over the six months increased 6.8 percent to EUR 2.672 billion, going mainly to fibre and 4G expansion. Net debt was up slightly from the end of 2014 and is set to expand further in the second half with the completion of the Jazztel takeover. Orange said it expects net debt to reach around 2.2 times adjusted EBITDA at year-end, versus 2.13 at the end of June, and the group will continue to pursue a policy of selective acquisitions, focusing on markets where it is already present. Over the medium term, net debt should fall to 2x EBITDA, helped by the sale of the stake in EE. Orange proposed an interim dividend of 20 cents a share, in line with a stable dividend of 60 cents per share over the full year.
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Category:Telecommunications
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