Orange : Expect better in Q3 2023 but OBS and wholesale still taking a toll
>2023 guidance (1.1% EBITDAaL growth, FCF of € 3.5bn) set to be confirmed - We forecast organic sales growth of 2.2% in Q3 2023 to € 11.047bn (vs 2.0% in Q2 2023), still driven by Africa (+12% on a comparable basis) and Europe excl. France (Poland, Spain). France is expected to remain under pressure, with growth in the residential business (+2%, helped by price increases) still counteracted by the decline in the wholesale business. EBITDAaL is expected to show faster ...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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