Orange H1 revenues up 0.3% to 20.079 billion euros
Staff Writer |
Orange revenues were 20.079 billion euros in the 1st half of 2016, up 0.3%, a continuation of the growth in the 2nd half of 2015, which was also up 0.3% on a comparable basis.
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In the 2nd quarter of 2016, revenues were stable after rising 0.6% in the 1st quarter. Growth accelerated in Spain (+6.2% after rising 1.8% in the 1st quarter).
In Africa and the Middle East, mobile data services and Orange Money remained very dynamic. The Enterprise segment rose 1.2% over the half, led by IT and integration services. These favourable trends offset the decline in national roaming in France and the first effects of price reductions for roaming in Europe.
First-half Restated EBITDA was 5.913 billion euros, down 0.6% in relation to the 1st half of 2015 on a comparable basis. The restated EBITDA margin was 29.4%, a decline of 0.3 percentage points compared with the 1st half of 2015.
In the 2nd quarter, restated EBITDA rose 0.1% after falling 1.6% in the 1st quarter. The Group thus confirms its objective to achieve a full-year restated EBITDA for 2016 higher than that achieved in 2015 on a comparable basis.
Operating income was 2.141 billion euros for the 1st half of 2016, a decrease of 123 million euros in relation to the 1st half of 2015.
Net income was 3.323 billion euros in the 1st half of 2016, an increase of 2.050 billion euros compared to the 1st half of 2015 mainly related to the sale of EE which occurred in January 2016.
Net income attributable to equity owners of the Group was 3.168 billion euros in the 1st half of 2016, compared with 1.099 billion euros in the 1st half of 2015.
CAPEX (3.167 billion euros in the 1st half of 2016) climbed 7.8% on a comparable basis, in line with the Essentiels2020 strategic plan, and represented 15.8% of revenues (+1.1 percentage points compared to the 1st half of 2015).
Investment in very high-speed fixed and mobile broadband (fibre, 4G and 4G+) grew rapidly. Added to this was the increased investment in data centres and in customer equipment with the new Livebox launched on May 19th in France, along with the opening of new Smart Stores.
Net debt was 24.462 billion euros at 30 June 2016, a decrease of 2.090 billion euros compared with December 31, 2015.
After selling its interest in EE3, the Group continued its policy of selective acquisition and investment in very high-speed broadband and licences.
The ratio of net debt to restated EBITDA was 1.95x at 30 June 2016, versus 2.01x at December 31, 2015, in line with the objective of a ratio of around 2x in the medium term. ■