Orange reported Q2 revenue of EUR 10.375 billion, representing a drop of 0.4% due to a decline in roaming and equipment sales directly linked to COVID-19. 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.
Some highlights for Q2:
- 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%).
- Convergent offers totaled 10.8 million customers at June 30, 2020, up 2.1% year on year, allowing Orange to strengthen its position as the leading convergent operator in Europe.
- In fiber, despite the lockdown, Orange posted a record 2nd quarter in France with 238,000 net customer additions and strong growth in Poland with 44,000 net additions. At June 30, Orange had 8.1 million fiber customers.
- In Africa & Middle East, 4G deployment continues reaching 27.9 million customers in the 2nd quarter, growth of 40.4% year on year. Orange Money had 19.6 million active customers in the 2nd quarter, up 18.9%.
- As of June 30, 2020, Orange Bank had a total of 1 million customers, following the integration of Orange Courtage and the expansion of its offer in Spain. In becoming an insurance broker, the bank took a further step in its cross-selling policy with Orange France.
- In the 1st half, the Group’s eCAPEX declined 9.9% due to the significant increase in co-financing 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.
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