Orange 1Q Revenue Was Stable

By Patrick Costello

Orange (ORA.FR) said Tuesday that first-quarter revenue remained broadly stable, as growth in most markets offset a slight downturn in France.

Revenue fell 0.1% on a comparable basis in the first quarter to 10.19 billion euros ($11.38 billion) compared with EUR10.2 billion a year ago, the French telecommunications company said.

Analysts expected Orange to generate EUR10.15 billion in revenue during the three-month period, according to consensus estimates provided by Orange.

Adjusted earnings before interest, taxes, depreciation and amortization after leasing, or Ebitdaal, rose 0.7% to EUR2.58 billion despite the negative impact of promotional offers, Orange said. The company said it began using Ebitdaal as a financial indicator in January to account for the adoption of the IFRS 16 accounting standard.

Orange said revenue in France fell 1.8% to EUR4.41 billion due to the effects of a "fierce promotional environment." In Spain, revenue rose 0.4% to EUR1.32 billion, while revenue in the company's Middle East and Africa segment increased 5.3% to EUR1.35 billion.

The company confirmed its full-year targets, including "slightly lower" Ebitdaal growth on a comparable basis compared with 2018 and higher operating cash flow on a comparable basis.

Write to Patrick Costello at [e-mail].

(END) Dow Jones Newswires

April 30, 2019 02:11 ET (06:11 GMT)

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