Orange FY revenue up 0.8%
February 17, 2022
Orange has reported revenues up 0.8 per cent to to €42.5 billion for the full year 2021, driven by the solid performance of Africa & Middle East (+10.6 per cent) and a strong increase in equipment sales (+8.5 per cent).
The Frenchl telco now has 11.8 million FTTH customers (+22.1 per cent) out of 56.5 million connectable households (+19.7 per cent). In France, the FTTH customer base recorded a year-on-year increase of 31.7 per cent.
Orange has set itself the following targets for 2022:
- EBITDAaL to increase by 2.5 per cent to 3 per cent
- eCAPEX no greater than €7.4 billion euros
- Organic cash flow from telecoms activities of at least €2.9 billion
- Net debt/EBITDAaL ratio for telecoms activities unchanged at around 2x in the medium term
- Maintaining the dividend for the financial year 2022 at 0.70 euros including an interim dividend of 0.30 euros in December 2022
For 2023, Orange confirms all of its commitments including organic cashflow from telecoms activities of at least €3.5 billion.
Commenting on the results, Stéphane Richard, Chairman and Chief Executive Officer of the Orange group, said: “The Group’s results reflect a solid 2021 performance. Indeed, Orange has delivered on its commitments and is confirming all its objectives for 2023, including organic cashflow of between 3.5 and 4 billion euros. Thanks to our investments, today we’re the uncontested European fibre optic leader with a vast network of over 56 million connectable households across the Group’s footprint.”
“Our European leadership in convergence has also been confirmed with 11.5 million clients, and the integration of TKR in Romania and the process that is well under way in Belgium to acquire Voo are further reinforcing this.
“The dynamic in our Africa zone has been remarkable, with a 11 per cent increase in revenues. With over 44 million 4G clients, mobile data continues its development generating revenues in this segment that are up 25 per cent.”
“Our ambitious moves into cybersecurity and banking are paying off. With revenues of 800 million euros, cybersecurity has delivered a 14 per cent growth in 2021 while Orange Bank now has 1.7 million clients in Europe.”
“Finally, our operational efficiency programme ‘Scale Up’ is well under way and we are driving our efforts forward in this regard.”
“The Group’s commercial performance has also been excellent, actively contributing to the achievement of our 2021 objectives in a context marked by important challenges: the move from copper to Fibre, the transition to providing IT services and also the turnaround of the situation in Spain. So, excluding non-operational factors such as the employee share offer, our margin and organic cash-flow are growing.”
“I’d like to express my gratitude to all of the Group’s teams right around the world who, thanks to their relentless application, have allowed us to deliver this excellent performance. With my mandate as Chairman and Chief Executive drawing to a close in the coming weeks, it is with pride that I look upon everything that we have accomplished over these past twelve years. I am confident about Orange’s future, that of a solid company that has shown itself capable of capturing new growth opportunities while at the same time strengthening its network leadership.”