Sustained financial and commercial performance

  Press releaseEmbargo until 20 July 2023 at 7:00 am  Regulated information – Inside informationFinancial information for the first semester 2023 Sustained financial and commercial performanceMobile postpaid customer base (excl. VOO) +2.7% yoy Cable customer base (excl. VOO) +11.4% yoyH1 Revenues (incl. the month of June for VOO) +2.9% comparable 1change yoyH1 EBITDAaL (incl. the month of June for VOO) +0.9% comparable 1change yoy H1 Operational Highlights ...

Brussels, 20/07/2023 (informazione.it - comunicati stampa - telecomunicazioni)

  Press release
Embargo until 20 July 2023 at 7:00 am
 Regulated information – Inside information

Financial information for the first semester 2023

Sustained financial and commercial performance

Xavier Pichon, Chief Executive Officer, commented:

Orange Belgium has achieved a strong commercial performance over the semester. Furthermore, the closing of the acquisition of VOO has taken place in the beginning of June, marking a significant milestone for our organization.

While we still operate as separate legal entities, the integration efforts have started, and we are already functioning as a unified company in terms of our commercial approach, go-to-market strategies, and organizational structure. This achievement highlights our commitment to seamlessly merging our operations and capitalizing on the synergies this acquisition offers.

Looking ahead, our focus remains on executing the planned synergies to maximize our potential of value creation and secure the 3 pillars of “Lead the future” we recently announced:

Antoine Chouc, Chief Financial Officer, stated:

I am pleased to announce the publication of our financial results for the first half of 2023, which include for the first time the figures of VOO for the month of June. We managed to limit the impact of the inflation on our margin thanks to a solid commercial performance, pricing adaptations and a tight cost control.

Following the acquisition, we have a strong focus on the execution of the synergies: the MVNO migration has already started, the first purchasing synergies are being unlocked and the common go-to-markets will create significant efficiencies.

We are convinced that the integration of VOO will unlock significant value and contribute to our overall growth strategy.

The figures presented in this report, remain limited due to the short inclusion period and it is important to note that the purchase price allocation, including the assessment of goodwill, has not yet been finalized.

Considering the inclusion of VOO figures for a period of seven months, with Orange Belgium accounting standards, we have restated our guidance for 2023. EBITDAaL will be between €430m and €450m, while the total eCapex is expected to be between €290m and €310m.

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