Latest consolidated results
Accelerated growth in 1st-half revenues, adjusted EBITDA and Operating Cash Flow confirms the 2018 objectives
The 1st half confirmed the acceleration in revenue and adjusted EBITDA growth compared to the 1st half of 2017, on a comparable basis.
- Revenues from all operating segments1 grew with a particularly strong contribution from Africa & Middle East, which rose 5.7%, and France, which increased 1.4%.
- The 3.3% growth in adjusted EBITDA in the 1st half confirmed the objective of stronger growth in 2018 compared to that achieved in 2017 with, in particular, double-digit growth in Spain. Adjusted EBITDA for the telecom activities rose 3.9% while the adjusted EBITDA margin improved by 0.6 percentage points.
- With savings of 486 million euros in the 1st half of 2018, the Explore2020 operating efficiency programme objective to realize 3 billion euros in gross savings over the 2015-2018 period was exceeded six-months early.
- CAPEX in the 1st half was in line with the objective of 7.4 billion euros in CAPEX for the full year and reflects the Group’s on-going efforts to provide the best fixed and mobile networks. At 30 June 2018, 4G mobile had more than 50 million customers (up 38% year on year) and over 29 million households were connected to very high-speed fixed broadband (up 26%).
The Group's strategy, focused on convergence and very high-speed fixed and mobile broadband, enabled us to continue to grow our client base in the 2nd quarter in a very competitive environment:
- The increase in convergent offers up 9.0% year on year (10.7 million customers at 30 June 2018) and SIM cards linked to convergent offers up 12.0% (18.0 million) reconfirmed Orange’s position as the leading convergent operator in Europe.
- Growth in fibre was very strong in the 2nd quarter with 119,000 net sales in France (a record for a 2nd quarter), 135,000 in Spain and a record 39,000 in Poland.
This strategy also enabled Orange to achieve growth in ARPO for convergence, Mobile Only and Fixed Only services in France and Spain.
The entire press release is available on PDF file
1 With the exception of the International Carriers & Shared Services segment.