Orange Sales Rose in 2017 On Stronger European Segment

   By Marc Navarro Gonzalez 
 

Orange SA (ORA.FR) said Wednesday that its sales rose slightly in 2017 driven by improvements in Europe, particularly a return to growth in France and continued growth in Spain.

France's largest telecoms company said that 2017 sales rose to 41.09 billion euros ($50.78 billion) from EUR40.92 billion a year earlier. Net profit fell 35% to EUR1.91 billion, in part due to a high comparison base in 2016 due to the disposal of its stake in British mobile operator EE.

Adjusted earnings before interest, taxes, depreciation and amortization--a measure closely watched by analysts--rose to EUR12.82 billion from EUR12.68 billion, higher than consensus expectations of EUR12.79 billion provided by FactSet.

Orange said it will pay a EUR0.65 a share dividend for 2017 and will propose a dividend payment of EUR0.70 a share for 2018.

The company confirmed its outlook for 2018, adding it expects growth in adjusted Ebitda and operating cash flow in 2019 and 2020.

Write to Marc Navarro Gonzalez at [e-mail]

(END) Dow Jones Newswires

February 21, 2018 03:02 ET (08:02 GMT)

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