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    BT.A   GB0030913577

BT GROUP PLC

(BT.A)
  Report
Delayed Quote. Delayed London Stock Exchange - 06/18 11:35:14 am
199.95 GBX   -2.75%
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Orange's fibre deals help offset COVID hit in third-quarter

10/29/2020 | 02:46am EDT
FILE PHOTO:  The logo of French telecoms operator Orange is pictured in a retail store in Bordeaux

PARIS (Reuters) - Deals to open up Orange fibre network to rivals helped France's biggest telecoms operator offset the financial hit from the coronavirus crisis in the third quarter.

The agreements with competitors Iliad and Bouygues lifted Orange's quarterly sales in France by 3.1% year-on-year, the company said on Thursday.

That helped to limit a decline in Orange's quarterly core operating profit - which came in at 3.58 billion euros (3.3 billion pounds) - to 0.4%. Analysts had forecast a decline of 0.6%, according to the average forecast of 19 compiled by the company.

Quarterly group sales rose 0.8% to 10.6 billion euros, also beating the mean forecast.

Since 2009, Orange has received 2.4 billion euros in proceeds from so-called co-financing deals with rivals for its fibre network in France, it said.

However, the impact of the coronavirus 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.

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.

British rival BT Group nudged up its earnings guidance on Thursday, while Spain's Telefonica posted a quarterly net loss due to an impairment charge in Argentina.

(Reporting by Mathieu Rosemain; Editing by Sherry Jacob-Phillips and Mark Potter)

By Mathieu Rosemain


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BOUYGUES SA -2.66% 32.89 Real-time Quote.-2.26%
BT GROUP PLC -2.75% 199.95 Delayed Quote.51.19%
EURO / ARGENTINE PESO (EUR/ARS) -0.40% 113.1396 Delayed Quote.10.58%
ILIAD S.A. -0.72% 131 Real-time Quote.-22.07%
ORANGE S.A. -1.28% 9.89 Real-time Quote.1.60%
TELEFÓNICA, S.A. -1.75% 3.966 Delayed Quote.22.22%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.00% 95.38 Delayed Quote.13.40%
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More news
Financials
Sales 2022 21 186 M 29 244 M 29 244 M
Net income 2022 1 649 M 2 276 M 2 276 M
Net Debt 2022 17 405 M 24 024 M 24 024 M
P/E ratio 2022 11,8x
Yield 2022 3,86%
Capitalization 19 812 M 27 337 M 27 347 M
EV / Sales 2022 1,76x
EV / Sales 2023 1,78x
Nbr of Employees 99 700
Free-Float 74,3%
Chart BT GROUP PLC
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Technical analysis trends BT GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 197,69 GBX
Last Close Price 199,95 GBX
Spread / Highest target 55,0%
Spread / Average Target -1,13%
Spread / Lowest Target -50,0%
EPS Revisions
Managers and Directors
NameTitle
Philip Eric Rene Jansen Chief Executive Officer & Executive Director
Simon Jonathan Lowth Chief Financial Officer & Executive Officer
Ulrica Fearn Group Finance Director
Jan Petrus du Plessis Chairman
Howard Watson Chief Technology Officer
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