Telecoms group Orange says Spain returned to growth in Q3, confirms targets
FILE PHOTO: A woman walks past the logo of French telecom operator Orange at the telecommunication company headquarters in Issy-les-Moulineaux near Paris, France, August 6, 2022. REUTERS/Sarah Meyssonnier
PARIS : Orange, France's biggest telecoms operator, said its third-quarter core operating profits edged up by 0.2 per cent on a comparable basis from a year earlier, driven notably by its cost saving plan and an unexpected return to growth in Spain.
Earnings before interest, tax, depreciation and amortisation after leases (EBITDAaL) amounted to 3.58 billion euros ($3.5 billion). This was in-line with the 3.586 billion-euro average of 16 analyst estimates compiled by the company.
The group confirmed its full-year targets, including a growth in core operating profits between 2.5 per cent and 3 per cent.
Sales in Spain, Orange's second-biggest market, returned to growth for the first time since the first quarter of 2019, gaining 0.2 per cent in the third quarter. This came in contrast with analysts' expectations of a fall of 2.8 per cent over the period.
($1 = 1.0129 euros)
