Report
Stephane Beyazian

Orange : T2 2023 : bonnes surprise en Afrique et Espagne (compensent la France)

>Les bonnes surprises : accélération de la croissance, CF en hausse de 10% - La croissance s’accélère au T2 2023 à 2,6% avec un chiffre d’affaires de 10,9 Md€, 1% au-dessus des attentes (consensus 10 809 M€) ; elle portée par l’amélioration en Afrique (+12%), en France (-1,3%) et chez Business Services (+2,3%).Les investissements baissent (-6% au S1) permettant la poursuite de la croissance des cash-flows (EBITDAaL-Capex +10%) et FCF (+2%, léger impact BFR). La ...
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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