Orange reported that its revenues rose 0.4% in the second quarter of 2015, excluding the impact of regulatory measures, after falling 0.3% in the 1st quarter.
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The improving trend continued, reflecting in the 2nd quarter the rebound of the Enterprise segment and the favourable development of mobile services, particularly in France and Spain, while Africa and the Middle East continued their steady growth.
In the 1st half of 2015, revenues were 19.557 billion euros, a decrease of 0.6% on a comparable basis, stable excluding the impact of regulatory measures.
Restated EBITDA rose 0.9% in the 2nd quarter, excluding the impact of regulatory measures, after declining 1.2% in the 1st quarter. Optimization of the cost structure continues with the ongoing reduction of indirect costs (156 million euros in the first half).
Restated EBITDA was 5.807 billion euros in the 1st half of 2015, down 1.2% on a comparable basis (stable excluding the impact of regulatory measures). The ratio of restated EBITDA to revenues was 29.7%, a limited decrease of 0.2 percentage points in relation to the 1st half of 2014 on a comparable basis; it was stable excluding the impact of regulatory measures.
CAPEX (2.672 billion euros in the 1st half) increased 6.5% on a comparable basis and represented 13.7% of revenues (+0.9 percentage points in relation to the 1st half of 2014). In line with the Essentials2020 strategic plan, investment in fibre rose sharply (+74% compared to the 1st half of 2014), mainly in Europe and particularly in France.
Net income was 1.273 billion euros in the 1st half of 2015, an increase of 545 million euros in relation to the 1st half of 2014. Net income Group share was 1.099 billion euros in the 1st half of 2015, compared to 581 million euros in the 1st half of 2014.
Net debt was 26.384 billion euros at 30 June 2015, nearly stable in relation to 31 December 2014. The restated ratio of net financial debt to EBITDA was 2.13x at 30 June 2015, versus 2.09x at 31 December 2014, in line with the objective of a ratio of around 2x in the medium term. ■