Orange 1Q Revenue Increased; Backs 2021 Outlook

   By Mauro Orru 
 

Orange said Thursday that revenue for the first quarter increased thanks to the recovery of equipment sales as well as strong momentum in Africa and the Middle East.

The French telecommunications company said first-quarter revenue rose to 10.32 billion euros ($12.42 billion) from EUR10.27 billion on a comparable basis in the first quarter of 2020.

Earnings before interest, taxes, depreciation and amortization after leases, or Ebitdaal, fell 0.3% on a comparable basis to EUR2.57 billion, with Orange citing the negative impact of the coronavirus pandemic which was yet to materialize in the first quarter last year.

The company began using Ebitdaal as a financial indicator in 2019 to account for the adoption of the IFRS 16 accounting standard.

For 2021, Orange continues to expect stable but negative Ebitdaal.

"In spite of the effects of the health crisis which remained significant in the first quarter, the group demonstrated its resilience, maintaining revenue growth and stabilizing Ebitdaal. Revenues in particular were sustained by the remarkable performance in Africa and the Middle East where Orange posted growth of more than 7% and passed the threshold of 130 million mobile customers," Orange Chief Executive Stephane Richard said.

Write to Mauro Orru at [e-mail]; @MauroOrru94

(END) Dow Jones Newswires

April 22, 2021 01:44 ET (05:44 GMT)

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