Orange Posts Higher Earnings, Revenue
By Adria Calatayud
Orange has forecast further earnings growth this year after reporting that earnings and revenue rose in the fourth quarter, coming in slightly above consensus views.
The French telecommunications group said Thursday that earnings before interest, taxes, depreciation and amortization after leases--its preferred profit metric--for the fourth quarter rose to 3.54 billion euros ($3.80 billion), up 2.8% on the same period of 2022.
Revenue increased 2% to EUR11.58 billion, as falls in France and its business-focused unit were offset by growth elsewhere in Europe and in its Africa-and-Middle East operations.
On a comparable basis, Orange's Ebitda after leases was up 2% and revenue rose 1.6%.
Analysts had expected Orange to report fourth-quarter Ebitda after leases of EUR3.51 billion on revenue of EUR11.535 billion, according to consensus estimates provided by the company.
For 2024, the company expects low single-digit growth in Ebitda after leases and organic cash flow from telecom activities of at least EUR3.8 billion, up from EUR3.66 billion in 2023.
"Based on these results, we are fully confident in our ability to achieve all the 2024/2025 targets set out in our Lead the Future plan," Chief Executive Christel Heydemann said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
February 15, 2024 01:44 ET (06:44 GMT)
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