Orange 4Q Revenue Falls; Proposes Dividends
18 February 2021 - 6:23PM
Dow Jones News
By Mauro Orru
Orange said Thursday that revenue for the fourth quarter fell,
and outlined proposals for dividends covering 2020 and 2021.
The French telecommunications company said quarterly revenue
fell to 10.92 billion euros ($13.15 billion) from EUR10.94 billion
on a comparable basis in the fourth quarter of 2019.
Earnings before interest, taxes, depreciation and amortization
after leases, or Ebitdaal, slipped to EUR3.18 billion in the
quarter from EUR3.26 billion on a comparable basis.
The company began using Ebitdaal as a financial indicator in
2019 to account for the adoption of the IFRS 16 accounting
standard.
For 2020, the company said net profit climbed to EUR4.82 billion
from EUR3 billion in 2019, while Ebitdaal fell to EUR12.68 billion
from EUR12.81 billion on a comparable basis.
Orange had guided for a decline in 2020 Ebitdaal of about 1%,
including all the effects related to the coronavirus pandemic.
For 2021, Orange expects stable but negative Ebitdaal and
confirmed its goal to generate between EUR3.5 billion and EUR4
billion in organic cash flow in 2023.
The company said it would ask shareholders in May to vote on a
dividend payout of EUR0.70 a share, plus EUR0.20 a share linked to
a EUR2.2 billion tax refund.
Orange also said it would propose a 2021 dividend of EUR0.70 a
share to the 2022 shareholders' meeting, with an interim dividend
of EUR0.30 a share to be paid in December.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
February 18, 2021 02:08 ET (07:08 GMT)
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