Orange Belgium continues on its growth trajectory

Press release Embargo until October 23, 2019 at 7:00 am Regulated informationFinancial information for the third quarter of 2019 and first nine months of 2019 Orange Belgium continues on its growth trajectoryMobile postpaid customer base grew 5.8% yoy on quarterly net-adds of 32k Convergence customer base increased 50.3% yoy on quarterly net-adds of 17kRevenues 1 : +2.5% yoy for the quarter / Retail service revenues 1 : +7.1% yoy for the quarterEBITDAaL 1+1...

Brussels, 23/10/2019 (informazione.it - comunicati stampa - telecomunicazioni)

Press release
Embargo until October 23, 2019 at 7:00 am
Regulated information

Financial information for the third quarter of 2019 and first nine months of 2019

Orange Belgium continues on its growth trajectory

Belgium Q3'19 operating highlights

Orange Belgium: key operating figures

Q3'19 consolidated financial highlights

Orange Belgium Group: key financial figures

Michaël Trabbia, Chief Executive Officer, commented:

I am pleased to report another quarter of sustained commercial and financial performance. In spite of increased promotional activities from competitors, our mobile and convergence operations continue to grow thanks to our Bold challenger positioning.

In July, we further delivered on our ambition to break telco conventions. We launched Love Duo because we believe customers shouldn't pay for services they don't need. Belgian consumers have embraced this broadband + mobile offer designed for cord-cutters: we are seeing a significant increase in our order book, which looks quite promising for the future. 

At the same time, following the new regulation, we successfully implemented the single-installer process for our cable customers. The Orange technician can now deal with most installations by himself in a single intervention, improving both customer experience and costs.

Arnaud Castille, Chief Financial Officer, stated:

This quarter proves yet again our commercial focus is on the right track. Retail service revenues as well as the mobile and convergent customer base continue to grow.

From a financial perspective, the strength of our core business growth, as well as our continued efficiency efforts, allowed us to maintain a growing EBITDAaL despite the significant headwinds that impact us in 2019. For the 9 months ended September, we improved the cable operations' operating cash flow by €19.6m. We remain focused on driving efficiencies in all aspects of our internal processes which will further expand Orange Belgium's EBITDAaL margin.

During the quarter, we welcomed BKM into the fold. We expect this acquisition to enhance our B2B offering and expand our presence in the ICT and connectivity markets. Work on the mobile access network sharing agreement with Proximus is progressing according to plan. We expect to finalize the agreement by year-end.

We confirm our 2019 guidance. We expect slight revenue growth, EBITDAaL of €285m-€305m and a stable eCapex.

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