Otherwise, core operating earnings were flat, the result of cost cutting, increased prices and inflation
Orange’s CEO, Christel Heydemann (pictured), highlighted the contribution of Africa and the Middle East in the operator group’s earnings report of Q3. She said, “Africa and the Middle East continue their excellent performance driving the Group’s growth, with revenues increasing by over 12% and 10 countries recording double-digit growth.”
Orange broke the MEA increases into four segments: 17.8% for mobile data; 17.0% for fixed broadband; 28.2% for Orange Money; and 20.3% for B2B services.
In its home market, France, revenues fell 0.5% to €4.44 billion due to a decline in wholesale services. However, growth in its retail business prevented worse losses. Overall, Europe’s retail services revenue grew 2.3%, fuelled by price increases in 2022.
Totals
Total revenues for Q3 were €10.9 billion, up by 1.8% or €194 million year-on-year. Retail services drove growth with a 3.8% increase (€304 million), offsetting the continuing sale in wholesale services, which fell by 6.7% or €123 million during the quarter.
Earnings before interest, taxes, depreciation, amortisation and special losses (EBITDAaL) grew slightly by 1.4% in Q3, in line with expectations. Capex was €1.59 billion, a fall of 7% year-on-year.
On September 30, Orange had 70 million FTTH connections globally, a rise of 11.9% year-on-year, and an FTTH customer base of 15.0 million, that is an increase of 13.5%.