Report
Stephane Beyazian

Orange : A slower Q3 2022 but a robust Q4 confirmed

>The 2022 target for EBITDAaL growth should be upheld in Q4 - As expected, the group’s EBITDAaL growth stands at 0.2% over 12 months in Q3 2022 and therefore at just 0.4% since the start of the year, below the full-year target of 2.5-3.0%. However, the group has confirmed its full-year target which implies a very robust Q4, helped by a more favorable comparison base (+500bp due to the employee share plans in Q4 2021) but also to a ramp-up in cost savings (€ 600m alrea...
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

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