Orange Q3 beats market view, reiterates guidance
Adds detail in paragraph 2, context about peers offers and CFO comments about Spain in paragraph 5 and 6
By Leo Marchandon and Michal Aleksandrowicz
Oct 24 (Reuters) -Orange ORAN.PA on Thursday reported third-quarter profit that was slightly ahead of market expectations, driven by a strong performance at its Africa and Middle East business, and reiterated its full-year guidance.
Group revenue, a notch above consensus, rose by 1.6% compared with the third quarter of 2023. Africa & Middle East was the main contributor, increasing by10.5%, its sixth consecutive quarter of double-digit growth.
Revenue in France increased 1.3%.
The French telecom operator posted earnings before interest, taxes, depreciation and amortization after leases (EBITDAaL), excluding Spain, of 3.35 billion euros ($3.61 billion). That was slightly above the 3.34 billion forecast by analysts in a company-compiled consensus.
Orange, market leader in France, gained a net 83,000 mobile
customers during the quarter, winning 6,000 customers for fixed
broadband and 259,000 for fiber.
Its peers Bouygues and Iliad have introduced cheaper plans earlier this month.
The company doesn't yet have an assessment of the impact of those moves, Orange's Chief Financial Officer Laurent Martinez said during a call with reporters after the earnings were published.
In late July, Orange announced a non-binding agreement with Vodafone Spain to create a jointfibre-to-the-home(FTTH) company covering 4 million customers.
El Confidencial reported in mid-October Orange was trying to sell its stake in this project.
Martinez said the company was expecting a closing of the deal by the end of H1 2025. Orange will retain 50%, Vodafone Spain 10% and a third financial partner was still being sought for the remaining 40%, he confirmed.
($1 = 0.9267 euros)
Reporting by Leo Marchandon and Michal Aleksandrowicz; editing by Matt Scuffham
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