Report

Orange : Good EBITDA leverage in H1 2018, which can be extrapolated. Mobile France immune

>Strong leverage on EBITDA in H1: +3.3% (vs +1.7% for revenues) - The Q2 2018 earnings release came in slightly ahead of forecasts with revenues up 1.4% y1eo1ey (vs +2% in Q1). Excluding ePresse and handsets, growth in services revenues accelerated in Q2 to +1.3% (vs 0.8% in Q1). Adjusted EBITDA in telecoms was up 3.4% in Q2 (vs +4.4% in Q1). The change in reporting has made analysing growth in services revenues and ARPU particularly tricky since Q1 2018.+ France: ...
Underlying
Orange Egypt For Telecommunications

Egyptian Company for Mobile Services is a communication services provider in Egypt. Co. executes, manages, operates, develops and maintains a digital cellular mobile telecommunication system, selling and distributing mobile lines, scratch cards, mobile equipments and mobile maintenance and accessories. Co. provides its services to subscribers inside and outside the Arab Republic of Egypt. Co.'s activities can be divided into two segments. The GSM segment covers the mobile telecommunications services activities, including the sale of pre-paid scratch cards, post-paid and monthly subscriptions packages, bundles and roaming services. The Internet segment covers the internet services.

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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.

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