Orange Q3 beats market view, reiterates guidance

By Leo Marchandon and Michal Aleksandrowicz

(Reuters) -Orange on Thursday reported third-quarter profit that was slightly ahead of market expectations, driven by a strong performance at its Africa and Middle East business, and reiterated its full-year guidance.

Group revenue, a notch above consensus, rose by 1.6% compared with the third quarter of 2023. Africa & Middle East was the main contributor, increasing by 10.5%, its sixth consecutive quarter of double-digit growth.

Revenue in France increased 1.3%.

The French telecom operator posted earnings before interest, taxes, depreciation and amortization after leases (EBITDAaL), excluding Spain, of 3.35 billion euros ($3.61 billion). That was slightly above the 3.34 billion forecast by analysts in a company-compiled consensus.

Orange, market leader in France, gained a net 83,000 mobile

customers during the quarter, winning 6,000 customers for fixed

broadband and 259,000 for fiber.

Its peers Bouygues (EPA:BOUY ) and Iliad have introduced cheaper plans earlier this month.

The company doesn't yet have an assessment of the impact of those moves, Orange's Chief Financial Officer Laurent Martinez said during a call with reporters after the earnings were published.

In late July, Orange announced a non-binding agreement with Vodafone (NASDAQ:VOD ) Spain to create a joint fibre-to-the-home(FTTH) company covering 4 million customers.

El Confidencial reported in mid-October Orange was trying to sell its stake in this project.



Martinez said the company was expecting a closing of the deal by the end of H1 2025. Orange will retain 50%, Vodafone Spain 10% and a third financial partner was still being sought for the remaining 40%, he confirmed.

($1 = 0.9267 euros)

Source: Investing.com