Report
Stephane Beyazian

Orange : Our forecasts for Q2 2023

>An improvement in Q2 (but the 2023 targets are on track to be met in H2) - Q1 2023 fell short of the EBITDAaL growth target for 2023 (0.5% growth vs target of 1.5% in 2023), yet the market had a better reaction to Orange’s publication than to that of its peers thanks to the increase in cash flows (+9% vs sector -5%). For Q2 2023, we expect progress. We forecast sales growth of 2% (vs 1.3% in Q1 2023), with the erosion in France (-1% vs -2% in Q1 2023, than...
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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