Report
Stephane Beyazian ...
  • Stephane Houri

Orange : 2021 results preview

>Could 17 February show an initial recovery is under way? - Orange is due to report its 2021 results and issue 2022 guidance on 17 February 2022. The stock has been largely neglected by investors at its low point but there is a strong probability, in our view, of the group's cashflow showing an initial upturn since 2011. For 2022, we expect FCF to increase by 28% to over € 2.8bn (excluding Orange Banque), underpinned by growth of 2.5% in EBITDA and a 5% drop in capex....
Underlying
Orange SA

Orange provides consumers, businesses and other telecommunications operators with a wide range of services including fixed telephony and mobile telecommunications, data transmission, Internet and multimedia, and other services. Co.'s portfolio comprises business lines (fixed-line, mobile, Internet), focusing on all customer segments (small and medium-sized businesses, multinationals), and personal and professional services for home, office, travel, and mobile. Co. manages eight operating segments: France, Poland, Spain, Rest of the Europe, Africa and Middle East, Other non-controlling equity interests, Enterprise Communication Services, and International Carriers and Shared Services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

Stephane Houri

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