je.st
news
Orange maintains cash flow outlook as Q3 EBITDA down 7.7%
2013-10-23 08:54:00| Telecompaper Headlines
(Telecompaper) Orange has maintained its full-year outlook after reporting a continued drop in its third-quarter results. Revenues were down 5.5 percent year-on-year to EUR 10.162 billion, despite improving customer growth in its key markets France, Spain and Poland. On a comparable basis and excluding regulatory effects, sales were down 2.4 percent, with France falling 4.9 percent, Poland down 2.6 percent, Spain growing 6.9 percent and the rest of the world up 1.3 percent. Adjusted EBITDA declined 7.7 percent to EUR 3.366 billion, and the margin fell to 33.1 percent from 33.9 a year ago. Capex increased 4.3 percent to EUR 1.293 billion, which Orange attributed to spending on 4G and fibre broadband expansion. Operating cash flow reached EUR 6.034 billion for the first nine months of the year, down 13.2 percent from a year earlier but on track to meet the company's target of EUR 7 billion for the full year. Orange still plans a dividend of EUR 0.80 per share for this year, with the interim 30 cents to be paid in December. Net debt should be no more than 2.4 times EBITDA by year-end, and the company will consider acquisitions to consolidate and expand its market positions. The group ended September with 232.5 million customers, up by 2.1 percent or 4.9 million from a year earlier.
Tags: down
cash
flow
orange
Category:Telecommunications