Orange maintained growth in comparable sales in the third quarter, with an increase of 0.8 percent. Growth was led by a 7.6 percent increase in Africa and the Middle East and higher revenues in eastern Europe and the Enterprise segment, offsetting declines of 0.4 percent in France and 2.5 percent in Spain.
Reported revenues, including changes in currency and scope, were up 2.6 percent to EUR 10.58 billion. Orange said underlying results were under pressure from a shift to the low and mid-range segments in Spain as well as the change in the digital press offer in France. Without the latter, revenue would have increased slightly in France, as competitive pressures there are abating, Orange said.
Adjusted EBITDA rose 0.2 percent on a comparable basis to EUR 3.62 billion in Q3. Capex increased 1.0 percent over the same period to EUR 1.72 billion, leaving operating cash flow of EUR 1.89 billion.
Orange confirmed its outlook for 2019, for slower growth in comparable EBITDA than in 2018. Over the first nine months, the figure was up 0.6 percent, and Orange said comparable telecom EBITDA, excluding its digital content offers, rose 1.7 percent. A reduction in capex over the full year should support an increase in operating cash flow in 2019, after a 3.2 percent drop in the first nine months.
In December, the company will present a new strategic plan for the period to 2025.
