Salem Radio Network News Wednesday, December 8, 2021

Business

Telecoms company Orange’s Q3 core profits fall 0.7% on lower co-investment deals

PARIS (Reuters) – Orange, France’s biggest telecoms operator, said third-quarter core operating profit dropped by 0.7% from a year earlier, as sales from lucrative co-investment deals in its home country retreated.

Earnings before interest, taxes, depreciation and amortisation after leases (EBITDAaL) fell to 3.55 billion euros ($4.13 billion), in spite of a rise in its number of customers in France and Spain, its two biggest markets.

This matched the average forecast in a company-compiled poll. Sales over the period fell by 0.4% to 10.5 billion euros.

Orange confirmed its full-year targets, including for a slight decline in core operating profit and an underlying cash flow from telecom activities of over 2.2 billion euros.

($1 = 0.8593 euros)

(Reporting by Mathieu Rosemain; Editing by Sudip Kar-Gupta)

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