Orange : Q3 2023: Africa is robust, internet customer base in France yet to stabilise
>Ramp-up in EBITDAaL growth in Q3 2023 - In Q3 2023, sales were up 1.8% y-o-y at € 10,999m (cons. € 10,999m); and EBITDAaL was up 1.4% pro forma at € 3,596m (cons. € 3,590m). EBITDA capex was up 9% y-o-y, underpinned by the 6% reduction in investment. The targets remain unchanged (FCF 2023 > € 3.5bn and FCF 2025 > € 4bn). We expect Q4 2023 to be a shade below Q3 in terms of EBITDAaL growth, but enabling the indication of 1.1% EBITDAaL growth pro forma in 2023 to be re...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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