Orange group has reported that Q2 2024 revenues rose 0.9 per cent compared with the Q2 2023 (+€85 million) thanks to growth in retail services (+2.4 per cent or +€182 million) and a smaller decline in wholesale services (-7.9 per cent or -€128 million), mainly related to higher unbundling and civil engineering rates in France in the first quarter.

Africa & Middle East is the main contributor to this growth, with revenues rising strongly (+10.3 per cent or +€177 million), driven by a robust performance in voice as well as double-digit increases in its four growth engines (+17.9 per cent in mobile data, +19.2 per cent in fixed broadband, +18.9 per cent for Orange Money and +14.5 per cent in B2B across all activities).

Revenues in France increased +0.3 per cent (+€14 million) thanks to the growth in retail services excluding PSTN (+2.5 per cent), in line with the Lead the Future growth target of between 2 per cent and 4 per cent, and a smaller decline in wholesale (-5.7 per cent).

Europe declined (-2.2 per cent or -€38 million) due to a reduction in low-margin activities, partially offset by growth of convergent services (+7.1 per cent).

The slight decrease in Orange Business revenues (-1.4 per cent or -€27 million) was again due to the decline in Fixed-only revenues (-7.9 per cent or -€65 million), partially offset by growth in IT and Integration services revenues (+4.6 per cent or +€43 million), led by Orange Cyberdefense (+10.6 per cent).

In terms of commercial performance, the Group maintained its leadership position in convergence in Europe (including France), with a total of 9.1 million convergent customers (+1.4 per cent), as well as its commercial momentum in mobile contracts and very high-speed fixed broadband accesses. Mobile services had 245.9 million accesses worldwide (+7.3 per cent) including 91.1 million contracts (+10.9 per cent). Fixed services had 38.9 million accesses worldwide (declining -3.3 per cent) of which 13.7 million were very high-speed broadband accesses, an area that continued to show strong growth (+14 per cent). Fixed narrowband accesses continued their decline (-12.8 per cent).

Commenting on thee results, Christel Heydemann, the Orange group’s CEO, said: “Orange has had a very good first half with solid results that allow us to confirm the Group’s guidance. These results, which notably include a sharp increase in cash flow, continue to be driven by the remarkable performance of Africa & Middle East and the solid improvement of EBITDAaL in Europe, including in France where EBITDAaL stabilised in this first half. This once again demonstrates our ability to execute the Lead the Future strategic plan in a constantly evolving market.”

“In France, our position as market leader, particularly in the high-end segment, and the excellent quality of our network and service enable us to maintain a disciplined pricing policy. We continue to launch distinctive and innovative offerings, such as the new ‘Orange Cybersecure’ B2C cybersecurity solution, which draws on the recognised expertise of our subsidiary, Orange Cyberdefense.”

In Spain, the MASORANGE teams are fully operational and are starting to deliver the initial synergies. I would sincerely like to thank all Orange colleagues for their dedication and performance during this first half. We will continue to demonstrate our know-how throughout the coming weeks of the Paris 2024 Olympic and Paralympic Games. Orange is here to connect athletes, organisers, spectators and viewers from all around the world,”  Heydemann concluded.

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Categories: Articles, Business, Results, Telco

Tags: africa, Christel Heydemann, france, Orange