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Haidje Rustau
  • Haidje Rustau

Liberty Global - Earnings Flash - Q4 FY 2025 Results - Lucror Analytic...

Liberty Global's results remained weak, with continued subscriber losses, ARPU pressures and revenue declines. Margins also declined across the operating subsidiaries. However, there were further signs of improvement in underlying trends, with broadband losses slowing and Belgium even increasing net adds. The near-term outlook is poor, and it might take time for improving subscriber trends to filter down to EBITDA generation.

 PRESS RELEASE

Orange: Orange unveils “Trust the future”, a new strategic chapter bui...

Orange: Orange unveils “Trust the future”, a new strategic chapter built on trust to unlock growth Press releaseParis, 19 February 2026 Orange unveils “Trust the future”, a new strategic chapter built on trust to unlock growth After successfully delivering all the ambitions of Lead the future 2023–2025, Orange opens a new chapter for the next 5 years.Trust the future places trust as a key competitive advantage, at the heart of the Group’s services and operating model, to reinforce its role as the trusted partner for always-available connectivity, broader digital services, and to unlock a ...

 PRESS RELEASE

Orange: Orange dévoile “Trust the future”, un nouveau chapitre de sa s...

Orange: Orange dévoile “Trust the future”, un nouveau chapitre de sa stratégie basé sur la confiance et qui ouvre une nouvelle phase de croissance Communiqué de presseParis, le 19 février 2026 Orange dévoile “Trust the future”, un nouveau chapitre de sa stratégie basé sur la confiance et qui ouvre une nouvelle phase de croissance Après avoir atteint tous les objectifs du plan Lead the future 2023–2025, Orange ouvre un nouveau chapitre pour les 5 prochaines années.Trust the future fait de la confiance un avantage compétitif, au cœur des services du Groupe et de son modèle opérationnel. Ora...

Felix Fischer ... (+6)
  • Felix Fischer
  • Haidje Rustau
  • Jayanth Kandalam
  • Peter Low
  • Si Yong Ng
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Tereos, Virgin Media O2, e& PPF Telecom, TUI, Sunrise, Liberty Global, Constellium, Nimlas, Rekeep, Lecta, Recordati, Borr Drilling

James Ratzer
  • James Ratzer

Liberty Global (Neutral) Why the market reaction today might not be ri...

We think Liberty Global’s results and multiple transactions are not necessarily as good as the market’s initial perception today and our preliminary analysis suggests all of this news could be equity value dilutive – in contrast to the initial market reaction.

 PRESS RELEASE

Orange: Success of Lead the Future 2023-2025 strategic plan; 2025 obje...

Orange: Success of Lead the Future 2023-2025 strategic plan; 2025 objectives fully achieved Press releaseParis, 18 February 2026 Financial information at 31 December 2025 Success of Lead the Future 2023-2025 strategic plan; 2025 objectives fully achieved Orange delivered very solid results in 2025EBITDAaL growth of 3.8% and Organic Cash Flow up 8.3% reaching 3.7 billion eurosStrong net additions in France, Europe, and Africa & Middle East: +19.6 million customers in one yearAfrica & Middle East achieved double-digit growth in revenues and EBITDAaLEfficiency plans in France and Europe sup...

 PRESS RELEASE

Orange: Succès du plan stratégique Lead the Future 2023-2025 et object...

Orange: Succès du plan stratégique Lead the Future 2023-2025 et objectifs 2025 pleinement atteints Communiqué de presseParis, le 18 février 2026 Information financière au 31 décembre 2025 Succès du plan stratégique Lead the Future 2023-2025 et objectifs 2025 pleinement atteints Orange enregistre de très solides résultats en 2025Croissance de l'EBITDAaL de +3,8% et du Cash-Flow Organique de +8,3%, atteignant 3,7 milliards d’eurosVentes nettes robustes en France, en Europe et en Afrique & Moyen-Orient : +19,6 millions de clients en un anEn Afrique & Moyen-Orient, croissance à deux chiffres...

James Ratzer
  • James Ratzer

VMO2 (Underweight) Q4 25: Weaker than expected 2026 guidance

VMO2’s Q4 results didn’t include any news on a potential Netomnia transaction, but they did include weaker guidance than expected for 2026, suggesting a 3-5% organic rate of decline, which will take leverage up to 6x net debt/ EBITDAaL.

Felix Fischer ... (+3)
  • Felix Fischer
  • Haidje Rustau
  • Jayanth Kandalam

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Constellium, Sunrise, Liberty Global, Pfleiderer, Hapag-Lloyd, Borr Drilling

Research Department
  • Research Department

INFORME DIARIO 12 FEBRERO + RDOS. ESPAÑA Y EUROPA 4T’25. IDEAS DESTACA...

COMPAÑÍAS QUE APARECEN EN EL INFORME: EUROPA: AB INBEV, AHOLD DELHAIZE, ASML, DEUTSCHE TELEKOM, ESSILORLUXOTTICA, MERCEDES BENZ GROUP, SANOFI. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 4T’25 que se publicarán en España y Europa en los próximos días. El dato de empleo en EE.UU. agita los mercados Jornada de más a menos en las bolsas europeas, que ...

James Ratzer
  • James Ratzer

Deutsche Telekom (Buy, €44, +44%) TMUS stake to rise faster than expec...

TMUS has provided new guidance out to 2027 – and DT has also said it won’t participate in the TMUS buyback in 2026 and might look at additional options to increase its stake even further. We therefore run through the implications for this and what further headroom DT might have.

 PRESS RELEASE

Total number of shares and voting rights at January 31, 2026

Total number of shares and voting rights at January 31, 2026 10 February 2026 Orange: information on the total number of shares and voting rights referred to in Article L.233-8 II of the French Commercial Code and Article 223-16 of the General Regulations of the Autorité des Marchés Financiers. In application of Article L. 22-10-46 of the French Commercial Code (Code de commerce), as from 3 April 2016, a double voting right is automatically granted to fully paid-up shares that have been held in registered form and under a single shareholder name for at least two years. DateNumber of shar...

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