Orange Group Q3 Revenues Down 0.4%

Orange Group (ORAN) reported a 0.4% decline in third-quarter revenues, primarily due to the lower level of co-financing of the Fiber network received in France.

The company's Q3 revenues amounted to EUR 10.5 billion, down 0.4% compared to the prior year period.

Excluding co-financing, revenues rose by 1.3%, driven by retail services, while the growth in equipment sales slowed sharply (+2.1% after +27.5% increase in the second quarter) due to the catch-up effect of the previous quarter.

Group eCAPEX was 1.7 billion euros in the third quarter, a slight 1.0% decline compared to the third quarter of 2020. At September 30, 2021, Orange had 53.8 million households with FTTH connectivity worldwide, up 20.8% year on year. The number of connectable households in France grew 31.4% at 27.4 million.

Orange further noted that it would make an interim dividend payment for 2021 of 0.30 euros in cash on December 15, 20214. In respect of the 2021 financial year, a dividend of 0.70 euros per share would be proposed to the 2022 Shareholders' Meeting.

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