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General

France Telecom reaffirms 2010 guidance

Tuesday 13 April 2010 | 09:11 CET | News
France Telecom-Orange has reasserted its financial objectives for this year following market rumours that it had tried to influence analysts to lower their guidance. Group CFO Gervais Pellissier told Reuters that he was reaffirming the 2010 targets presented to the market on 25 February, adding that "management has taken no action vis-a-vis analysts or investors to put its objectives into question". In February, France Telecom indicated that it was aiming for an around EUR 8 billion organic cash flow, excluding the cost of buying additional mobile frequencies, licences and legal costs associated to litigation over the local professional tax. The group also said it aimed for a "globally stable" turnover, on a like-for-like basis. Last year, France Telecom reported consolidated revenues of EUR 45.94 billion, down 1.8 percent on a comparable basis (EUR 50.95 billion including the UK). Excluding the impact of regulatory measures, revenues rose 0.1 percent. The company expected the impact of regulatory measures to reach EUR 450 million-EUR 500 million in 2010, comparable to a year earlier. For this year, Thomson One anticipates a turnover up 3.4 percent to EUR 47.52 billion and a near stable EBITDA at EUR 16.36 billion, based on estimates from 30 analysts, and a net profit down 1.4 percent to EUR 4.78 billion, based on 26 estimates.

Categories: General
Companies: France Telecom / Orange
Countries: France / World
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