Orange 1Q Revenue Increased; Backs 2021 Outlook
22 April 2021 - 3:59PM
Dow Jones News
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 mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
April 22, 2021 01:44 ET (05:44 GMT)
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