6.2% growth in revenues (2.5% on a comparable basis) to EUR 49 billion
Significant success in 2005 in a rapidly changing market
Sharp increase in the Group's fixed-line and wireless broadband customer base
Launch of the first convergent offers and first tangible successes of NExT

Strong operational performance in 2005, with net income almost doubling
Gross Operating Margin of EUR 18.56 billion (excluding the impact of the consolidation of Amena and the EUR 256 million fine levied by the French Competition Council)
Net income Group share up to EUR 5.7 billion, compared with EUR 3 billion in 2004
EUR 7.5 billion in organic cash flow generated
Ratio of net debt to Gross Operating Margin of 2.48 (after Amena acquisition), in line with
commitment to lower ratio to under 2.5 by end 2005, and net financial debt of EUR 47.846 billion at December 31, 2005

Accelerated implementation of NExT in 2006
Tighter control of the business and accelerated transformation of the company
Shorter time-to-market for convergent offers
Country-level integration and network integration by end 2006

For 2006: priority to generating EUR 7 billion in organic cash flow
Revenue growth over 7% (approximately 2% on a comparable basis)
GOM ratio 1 to 2 percentage points lower than in 2005
CAPEX to revenues ratio of about 13%