Orange : Can Altice France get back into the race?
>Persistently calamitous situation on three counts: FCF, debt and customers - One of our fears for Orange is a turnaround at Altice France (SFR), which was historically its leading competitor before its collapse in recent years:Financial results remain untenable. ODDO BHF credit analyst (Pierre-François Merveille) forecasts negative FCF of ~€ 450m in 2024 and 2025, including € 1.45bn in financial expenses. In June, the reported net debt of Altice France (restrict...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.
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.
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