Orange S.A. (ORAN) Reports Q1 results; reaffirms outlook

Orange S.A. (NYSE: ORAN) reported Q1 Revenue for the quarter came in at EUR9.85 billion.

eCAPEX amounted to 1,384 million euros in the first quarter of 2024, excluding 166 million euros of CAPEX for Spain booked in the first quarter in the Group’s financial statements. eCAPEX rose 3.1% and eCAPEX for telecom activities as a percentage of revenues was 14.0%, reflecting the objective to maintain discipline in 2024. The number of households connectable to FTTH reached 56.2 million excluding Spain (+12.2%), and the FTTH customer base was 12.2 million (+15.4%).

OUTLOOK

The Group can therefore confirm its financial targets for 2024(4) :

Low single-digit growth in EBITDAaL

Discipline on eCAPEX

Organic cash flow of at least 3.3 billion euros from telecom activities

Net debt/EBITDAaL ratio of telecom activities unchanged at about 2x in the medium term

Proposal to increase the 2024 dividend payable in 2025 to 0.75 euros per share, including an interim dividend of 0.30 euros in December 2024.

For earnings history and earnings-related data on Orange S.A. (ORAN) click here.

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