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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BT Group plc    BT.A   GB0030913577

BT GROUP PLC

(BT.A)
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Orange beats forecasts in third quarter, raises interim dividend

10/29/2020 | 03:27am EST
FILE PHOTO: The logo of French telecom operator Orange is pictured in Brussels

PARIS (Reuters) - Telecoms operator Orange posted on Thursday a 0.4% decline in its third-quarter core operating profit, but topped market expectations on continued proceeds from French peers that are co-financing its broadband fibre network.

The earnings before interest, taxes, depreciation and amortisation after leases (EBITDAaL) fell to 3.58 billion euros ($4.23 billion) over the July through September period, the Paris-based company said in a statement.

This slightly beat the average of 19 analyst estimates compiled by the company, which predicted a fall of 0.6%. Quarterly sales were up by 0.8% to 10.6 billion euros, also beating the consensus.

The COVID-triggered crisis slashed nearly 150 million euros from core operating profit in the third quarter, as Orange received fewer lucrative roaming fees from summer travellers.

"The summer quarters are very, very big quarters for roaming, since you have all the travellers ... especially for Orange where you have countries of destination in the South, such as France and Spain," Chief Financial Officer Ramon Fernandez said in a call with reporters.

He said the impact would be significantly less important in the fourth quarter.

European telecoms operators Telefonica and BT Group were also due to report their quarterly numbers on Thursday.

Orange confirmed its full-year targets, including an expected drop of around 1% in core profit. It will increase its interim dividend by 10 euro cents to 40 cents and pledged to return to a dividend of 0.70 euro per share for 2020.

($1 = 0.8461 euros)

(Reporting by Mathieu Rosemain, Editing by Sarah White and Sherry Jacob-Phillips)

By Mathieu Rosemain


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BT GROUP PLC -2.93% 121.75 Delayed Quote.-34.78%
ORANGE 0.24% 10.435 Real-time Quote.-20.66%
TELEFONICA S.A. -1.38% 3.659 Delayed Quote.-40.44%
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Financials
Sales 2021 21 460 M 28 689 M 28 689 M
Net income 2021 1 480 M 1 978 M 1 978 M
Net Debt 2021 18 787 M 25 116 M 25 116 M
P/E ratio 2021 8,32x
Yield 2021 -
Capitalization 12 327 M 16 461 M 16 480 M
EV / Sales 2021 1,45x
EV / Sales 2022 1,45x
Nbr of Employees 105 300
Free-Float 86,2%
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Number of Analysts 21
Average target price 158,21 GBX
Last Close Price 125,25 GBX
Spread / Highest target 135%
Spread / Average Target 26,3%
Spread / Lowest Target -66,9%
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NameTitle
Philip Eric Rene Jansen Chief Executive Officer & Executive Director
Jan Petrus du Plessis Chairman
Simon Jonathan Lowth Chief Financial Officer & Executive Officer
Howard Watson Chief Technology & Information Officer
Iain C. Conn Senior Independent Director
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