Orange revenues declined 0.4% in the 2nd quarter of 2020

In the 2nd quarter of 2020, Orange revenues declined 0.4%, negatively impacted by the decline in roaming and equipment sales directly linked to the health crisis.

France and Africa & Middle East rose 2.7% and 1.3% respectively year on year, almost completely offsetting the combined decline in other segments: Spain (-6.8%), Europe (-3.6%), Enterprise (-3.3%).

In the 2nd quarter, EBITDAaL showed a limited decline of 1.8% year on year, negatively impacted by the cost of health measures, the decrease in roaming and a slight increase in provisions for bad debts. In the first half EBITDAaL declined just 0.8%.

At June 30, 2020, consolidated net income stood at 1,016 million euros (compared with 1,137 million euros at June 30, 2019, on an historical basis).

In the 1st half, the Group’s eCAPEX declined 9.9% due to the significant increase in cofinancing in France and asset disposals, in particular the disposal of non-strategic towers in Spain. This decrease is also explained by a slowdown of investment in mobile and traditional services which offset growth in FTTH investments, particularly in France, which was lower than expected following the health crisis.

Organic cash flow from telecoms activities was 255 million euros, a 163 million euro increase year on year on an historical basis, due to the decline in eCAPEX and despite the measures taken to support the most vulnerable suppliers and service providers in France.

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