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Orange FY Profit Rises - Quick Facts

French telecommunications operator Orange SA (ORAN) reported that its net income for fiscal year 2019 was 3.226 billion euros compared to 2.158 billion euros in 2018 on a historical basis. The increase was due to the growth in operating income and financial income, partially offset by the increase in the corporate tax charge.

Group EBITDAaL was 12.9 billion euros in 2019, an increase of 0.8% in the year.

Group operating income was 5.927 billion euros compared to 4.829 billion euros in 2018 on a historical basis, an increase of 22.7%. The increase was mainly due to the counter-effect of the charge recorded in 2018 for the new "part-time for seniors" plan and by the improvement in EBITDAaL.

Orange Group revenues were 42.2 billion euros in 2019, up 0.6%. Restated for the impact of digital content offers, revenues rose 0.8% in 2019. This momentum was driven by very strong growth in Africa & Middle East, and good performances by Enterprise and Europe, which together more than compensated for a slight reduction in France and a decline in Spain.

There were 10.8 million convergent customers, up 3.4%, reflecting very strong growth in Europe.

There were 207.2 million mobile customers, an increase of 3.0%, driven by Africa & Middle East.

Fixed broadband customers totaled 20.7 million, up 2.7%, reflecting the acceleration of FTTH (Fibre to the Home) network deployment, notably in France.

Orange confirmed its objectives for 2020. It still expects EBITDAaL to be "flat positive".

The payment of a dividend of 0.70 euros per share for the full year 2020 will be proposed, with an interim dividend of 0.30 euros per share to be paid in December 2020.

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