While revenues were up by 0.1% in the first half of 2022, they were down by 0.4% in Q2 and were “impacted by the underlying effect of fibre network co-financing”.
The operator recorded growth in retail services of 1.4% in its native France and its position in Europe was strengthened by its performance in countries such as Poland (3.4% growth) and Belgium (4% growth).
Christel Heydemann, CEO of Orange said: “In an environment still marked by the health crisis, geopolitical uncertainty and the effects of inflation, Orange has once again proven its resilience in the first half of 2022 both in terms of commercial momentum and in respect of its main financial indicators.
“I would above all like to give my thanks to the Group’s women and men, based across the world, as it is due to their daily commitment and their ongoing efforts that we have collectively achieved the results presented today. ”
Heydemann added that it continues to believe in its operations in Spain despite suffering from “extreme competition in the telecoms market”.
Orange’s merger with former Spanish rival MasMovil was recently made official and this will allow it to combine its operations for potential growth.
Africa and the Middle East, where Orange has been expanding its operations in recent years continued to deliver strong growth of 7.2%.
“Our solid retail market performance in Europe and Africa and the Middle East has compensated for the difficulties that have weighed on our Enterprise business,” Heydemann added.
“Africa and the Middle East maintained its momentum, with strong growth in EBITDAaL of 11.6% over the first half, a performance fuelled by growing demand for mobile data, the development of the Enterprise market and an increased appetite for fibre.
“The turnaround of this segment is a priority for the Group and we are fully mobilised to take the actions necessary to return to a path of profitable growth in this sector.”
The Group says it is aiming for a 2.5% to 3% increase in EBITDAaL, eCAPEX no greater than €7.4 billion and organic cash flow of at least €2.9 billion from its telecoms activities.
