France Telecom today announces its audited financial results for 2007.

Consolidated revenues rose to €52.959 billion at 31 December 2007, growth of 2.8% on a comparable basis. Growth was particularly strong in the fourth quarter of 2007 (+3.6% on a comparable basis).

 

• gross operating margin (GOM) of €19.1 billion, up 3.4% on a comparable basis

• GOM rate (GOM/revenues) of 36.1%, stabilised compared with 2006 (+0.2 points)

• organic cash flow of €7.8 billion, above the objective of €7.5 billion

• capital expenditure (CAPEX) of €7.0 billion, with an investment rate (CAPEX/revenues) of 13.2%, in line with the stated objective of about 13% of revenues

• Group share of net income of € 6.3 billion, compared with €4.1 billion in 2006. On a comparable basis, after adjusting for the main non-recurring items, it was €4.6 billion in 2007, up from €3.7 billion in 2006

• net debt to GOM ratio of 1.99 and net debt at yearend of €38.0 billion. The 2008 objective was therefore met one year early

• a dividend of €1.30 per share for 2007 will be proposed to the Annual General Meeting of Shareholders of 27 May 2008 and payable on 3 June 2008.

 

 

• organic cash flow of more than €7.8 billion based on:
• the stability of the GOM rate
• maintaining the investment rate (CAPEX /revenues) at about 13% of revenues
• these objectives are set in the context of moderate growth of the main Western European markets, continued development of new services, and the continuation of a favourable trend in markets with high growth potential


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