Orange has reported that Q1 2025 revenues reached €9.9 billion, up 0.6 per cent year on year (+€62 million) attributed to growth in retail services (+2.4 per cent or +€181 million) and a smaller decline in wholesale services (-3.1 per cent or -€44 million). Equipment sales were 5.7 per cent lower (-€38 million) and other revenues were down 13.9 per cent (-€37 million).

• Africa & Middle East is the main contributor to this growth, with revenues up 12.8 per cent (+€231 million), driven by increases from its four growth engines (+21 per cent in Mobile data, +19.1 per cent in Fixed broadband, +22.1 per cent for Orange Money and +17.1 per cent in B2B across all activities).
• Revenues in France decreased 1.3 per cent (-€55 million) but retail services excluding PSTN grew 1.5 per cent, while wholesale services (-4.3 per cent) declined as expected.
• Europe remained stable (-0.2 per cent or -€3 million). Retail services (excluding IT&IS) grew 1.2 per cent (+€14 million) and IT and Integration Services revenues returned to growth rising 17 per cent (+€18 million). Low-margin revenues were down: wholesale services (-6.6 per cent or -€13 million) and equipment sales (-7.4 per cent or -€20 million).
• The decrease in Orange Business revenues (-4.9 per cent or -€96 million) was due to the decline in Fixed-only revenues (-7.4 per cent or -€56 million) and in mobile revenues (-6.9 per cent or -€17 million).  IT and Integration Services were down (-2.5 per cent or -€23 million) in a competitive market while revenue growth for Orange Cyberdefense remained brisk (+8 per cent or +€23 million).
• In terms of commercial performance, the Group maintained its leadership position in convergence in Europe (including France), with a total of 9.2 million convergent customers (+1.1 per cent), as well as its commercial momentum in mobile contracts and very high-speed fixed broadband accesses. Mobile services had 256 million accesses worldwide (+5.5 per cent) including 95.7 million contracts (+5.5 per cent). Fixed services had 38.1 million accesses worldwide (-2.8 per cent), with 22.1 million fixed broadband accesses (+3.7 per cent), of which 15 million very high-speed broadband accesses, an area of continued strong growth (+13.4 per cent).

The Group’s EBITDAaL was €2.48 billion for the period ended March 31st 2025, an increase of +3.2 per cent in line with the target of around 3 per cent growth in 2025. This growth reflects the good retail performance as well as the ongoing efforts to improve operational efficiency.

eCAPEX amounted to €1.46 billion in the first quarter of 2025, up 6.6 per cent (+€91 million). eCAPEX for telecom activities as a percentage of revenues was 14.8 per cent, in line with the 2025 target.

In the first quarter of 2025, a provision of €1.64 billion was recognised for the commitment related to the agreement on Employment and Career Path Planning for France (Gestion des Emplois et des Parcours Professionnels  – GEPP) signed in February 2025, and relating mainly to the 2025-2028 French part-time for seniors plan (adjusted expense from EBITDAaL and presented as specific labor expenses and restructuring program costs).

Lastly, MasOrange, the company’s 50 per cent owned joint venture in Spain, was reported to be performing “fully in line with its targets and delivering the expected synergies”. Revenues saw a 2.6 per cent increase to €1.8 billion

Christel Heydemann, CEO of the Orange group, said: “Orange delivered robust first quarter results, in line with our forecasts, with EBITDAaL growth of 3.2 per cent. In an uncertain economic context, these results demonstrate the resilience of our business and the trust our customers have in the quality of our services across all our regions.”

“In France, we maintained our commercial discipline and continued to grow retail revenues, thanks to strong performances in fiber and convergence. In a competitive environment, the variety of our offers across all market segments and the satisfaction of our customers make Orange the leader by market share, NPS and churn.”

“The Africa & Middle East region experienced exceptional double-digit revenue growth for the eighth consecutive quarter. All growth engines are performing well, in particular our data offers, which represent 60 per cent of growth this quarter. This momentum is driven by our 4G and 5G networks, used by more than 80 million customers, as well as the deployment of digital services, such as our Max it super app, which now has close to 20 million users”

“In the B2B market, Orange Cyberdefense’s growth remained solid at 8 per cent, driven mainly by the robust performance in France. Orange Business, which continues to enact its transformation plan, also launched 5G+ in France and new trusted GenAI offers through Live Intelligence Open in Europe”

“Finally, during this quarter, we signed three agreements with our trade unions in France, in particular the unanimous agreement reached on Employment and Career Path Planning for France (Gestion des Emplois et des Parcours Professionnels – GEPP), which will enable us to train, recruit and support the deployment of our teams. These agreements lay the foundations for working with our employees to meet future technological, economic and environmental challenges.”

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Categories: Articles, Business, Results, Telco

Tags: Christel Heydemann, MásOrange, Orange