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Orange raises profit target on Q3 performance

Orange posted higher Q3 sales and core profit for the first time since 2009 helped by stronger results in its key market of France, prompting it to raise its annual profit target.

Europe’s fourth largest telco said restated earnings before interest, tax, depreciation and amortisation (EBITDA) would reach at least €12.3 billion this year, compared with an earlier goal of €11.9 to €12.1 billion.  Quarterly sales rose 0.5 per cent on a comparable basis to €10.28 billion.

With the full consolidation of Jazztel in Spain and of Méditel in Morocco, the Orange Group had a total of 263.3 million customers as of September 30th, a year-on-year increase of 4.6 per cent.

Orange Group CEO Stéphane Richard commented: “Our return to growth in revenue and restated EBITDA validates our strategy of differentiation through quality and investment and confirms the positive momentum generated over almost two years …. This commercial momentum is supported by high levels of investment in very high-speed fixed and mobile broadband, in line with our Essentiels2020 strategic plan.”

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