Orange has reported 2024 revenues of €40.26 billion, up 1.2 per cent year on year thanks to growth in retail services (+2.7 per cent or €794 million) and a smaller decline in wholesale services (-5.2 per cent or -€325 million euros) mainly related to higher unbundling and civil engineering rates in France in the first quarter. Other revenues (+6 per cent or +€59 million) offset the decline in equipment sales (-1.4 per cent or -€41 million).

Commenting on the results, Christel Heydemann, Chief Executive Officer of the Orange group, said: “These results clearly demonstrate the successful execution of our Lead the Future strategic plan. Group revenue and EBITDAaL growth, in line with objectives, was rooted in outstanding operational achievements, strong commercial momentum across all geographies and continued discipline on cost control. The creation of MasOrange in Spain, the successful connectivity of the Paris Olympic Games and the roll-out of Max-It in Africa are concrete examples recognised by all.”

“2024 marked a return to EBITDAaL growth in France where our excellent network and service quality allowed us to maintain our leadership position.”

“The Africa & Middle East region once again delivered a robust performance, driven by its growth engines, namely mobile data, fixed broadband, B2B and Orange Money. Orange now has over 160 million mobile customers and almost 40 million Orange Money customers on the continent. Orange’s activities are a genuine lever for economic development in these countries – progress from which the Group also benefits.”

“Orange Business continued to reposition itself in line with the growing use of digital technology such as cloud computing and artificial intelligence. Orange Cyberdefense maintained its trend of strong revenue growth and positioned itself as a European leader in cybersecurity for large groups and SMEs, with its expertise deployed in 130 countries.”

“Against a backdrop of technological change characterized by the development of generative AI and its impressively rapid adoption, Orange is fully playing its part by integrating this technology into its infrastructure and offering reliable solutions that are of real use to its customers, partners and employees.”

“I welcome the new employment and professional development agreement, signed with our unions in France on 10 February, which demonstrates the quality of our social dialogue. This sets out the employment framework for the next three years and will allow us to train, recruit and support our teams to best respond to changes in our competitive and technological environment. I would like to sincerely thank all Orange employees for their achievements and their commitment throughout the year, as well as our customers for the trust they place in us every day. As we head into the final year of our plan, we are confident in our ability to meet all our targets, including our newly upgraded Organic Cash Flow target.”

Results highlights:

• Africa & Middle East is the main contributor to growth, with revenues up 11.1 per cent (+€770 million), driven by increases from its four growth engines (+18.4 per cent in Mobile data, +19.5 per cent in Fixed broadband, +20.4 per cent for Orange Money and +12.5 per cent in B2B across all activities).
• Revenues in France increased 0.4 per cent (+€79 million) thanks to growth in retail services excluding PSTN (+2.6 per cent), and a smaller decline in wholesale services (-3.9 per cent).
• Europe declined (-2.1 per cent or -€155 million) due to wholesale services (-13.9 per cent or -€131 million) and other low-margin activities, while retail services excluding IT and Integration Services grew 1.3 per cent (+€58 million).
• The decrease in Orange Business revenues (-2.1 per cent or -€169 million) was again due to the decline in Fixed-only revenues (-8.1 per cent or -€261 million). Revenue growth for Orange Cyberdefense was dynamic (+11.2 per cent or +€120 million), while IT and integration services were up slightly (+2.7 per cent or +€102 million) in a complex IT market.
• In terms of commercial performance, the Group maintained its leadership position in convergence in Europe (including France), with a total of 9.1 million convergent customers (+1 per cent), as well as its commercial momentum in mobile contracts and very high-speed fixed broadband accesses. Mobile services had 253 million accesses worldwide (+7.1 per cent) including 94.6 million contracts (+7.8 per cent). Fixed services had 38.3 million accesses worldwide (-3.2 per cent) of which 14.6 million were very high-speed broadband accesses, an area of continued solid growth (+13.5 per cent).
• MasOrange, the aofrementioned Spanish telco formed from the merger between Orange and MásMóvil, reported revenues of €7.38 billion with an EBITDA up 10.8 per cent to €2.8 billion.

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Categories: Articles, Business, Results, Telco

Tags: africa, france, Orange