Press release
Third quarter 2021 financial information at 30
Orange delivers a sustained commercial performance and confirms all of its 2021 objectives
In millions of euros | 3Q 2021 | change comparable basis | change historical basis | 9M 2021 | change comparable basis | change historical basis | ||
Revenues | 10,508 | (0.4)% | (0.7)% | 31,374 | 0.9 % | 0.1 % | ||
EBITDAaL | 3,550 | (0.7)% | (1.0)% | 9,387 | (0.5)% | (1.2)% | ||
eCAPEX (excluding licenses) | 1,709 | (1.0)% | (1.2)% | 5,554 | 14.3 % | 13.7 % | ||
EBITDAaL - eCAPEX | 1,841 | (0.4)% | (0.7)% | 3,833 | (16.2)% | (16.9)% |
- Continued good commercial performances:
- 11.3 million convergent customers
- 10.8 million Fiber (FTTH) customers out of 53.8 million connectable households. The FTTH client base rose 25.5% year on year, driven in particular by
France andPoland
- Revenues down slightly (-0.4%)1 in Q3 2021.
- They rose 1.3% excluding co-financing:
- strong performance in retail services2 with an acceleration in revenue growth from convergence (+2.9%), mobile (+5.6%) and fixed broadband (+5.2%)
France recorded a 4.1% decline, but was virtually stable excluding co-financing thanks to retail services where growth accelerated (+3.7% excluding PSTN)Europe excludingSpain rose 2.0% with retail services growth accelerating (+5.7%).Spain was down 4.4% despite a slight pick-up in retail servicesAfrica &Middle East : another very strong performance at +12.0%- Enterprise declined (-1.4%) due to a decrease in fixed services (-5.2%) which was not offset by the growth in IT & Integration services (+2.1%) and mobile services (+3.5%)
- International Carriers & Shared Services grew 10.8%
- strong performance in retail services2 with an acceleration in revenue growth from convergence (+2.9%), mobile (+5.6%) and fixed broadband (+5.2%)
- EBITDAaL decline was limited to 0.7%, impacted by the lower level of co-financing received in
France . EBITDAaL grew 4.5% excluding co-financing. - eCAPEX was down slightly: -1.0% in Q3 2021 after a strong increase in the first half due to investments in Fiber and in
Africa &Middle East , in line with the objectives for 2021.
The Group is maintaining its financial objectives for 2021after allocation of the tax refund3:
- stable but negative EBITDAaL,
- eCAPEX of 7.6 to 7.7 billion euros,
- organic cash flow from telecoms activities of over 2.2 billion euros
- net debt/EBITDAaL ratio for telecom activities remaining at around 2x in the medium term.
Dividend
Orange will make an interim dividend payment for 2021 of
Commenting on the publication of these results,
"Orange’s sustained commercial performance in the third quarter, marked by solid momentum in retail services across all the countries where we are present, allows us to confirm all of our financial commitments. In an economy still showing the effects of the health crisis, including the acceleration of the digital transformation, our customers' appetite for very high-speed access is evidenced in their take up of fiber and 5G, and of our convergent offers.
In
In
The other European countries continue to make a positive contribution to the Group’s results, with a 5.7% growth in retail services, due both to our convergence strategy and the enthusiasm seen for fiber, where Orange is the stand-out European leader. The acquisition of TKR in
In
Comments on Group key figures
Revenues
Orange group revenues were 10.5 billion euros in the third quarter of 2021, down 0.4% year on year on a comparable basis. This slight decline was mainly due to the lower level of co-financing of the Fiber network received in
Excluding co-financing, revenues would have risen by 1.3%, driven by retail services5, 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.
Customer base growth
There were 11.3 million convergent customers Group-wide at
Mobile services had 221.8 million lines at
Fixed services had 44.7 million access lines at
Mobile financial services had nearly 1.6 million customers in
EBITDAaL
Group EBITDAaL was 3.55 billion euros in the third quarter of 2021, down 0.7%. Excluding co-financing, this would have increased by 4.5%, driven by the good commercial performance and decreased costs.
Over the first nine months of the year, the decline in EBITDAaL was limited to -0.5%.
EBITDAaL from telecom activities was 3.58 billion euros in the third quarter, down 0.8%.
eCAPEX
Group eCAPEX was 1.7 billion euros in the third quarter, a slight 1.0% decline compared to the third quarter of 2020. It was nevertheless up by 14.3% over the first nine months of the year, due to the acceleration of investment in the networks, in particular in Fiber in
At
Changes in asset portfolio
On
On
__________________________________________________________________________________
The Board of Directors of
More detailed information on the Group’s financial results and performance indicators is available on the Orange website www.orange.com/en/consolidated-results.
Review by operating segment
In millions of euros | 3Q 2021 | change comparable basis | change historical basis | 9M 2021 | change comparable basis | change historical basis | ||
Revenues | 4,483 | (4.1)% | (4.5)% | 13,433 | (1.7)% | (2.1)% | ||
Retail services | 2,723 | 1.2 % | 1.2 % | 8,106 | 0.5 % | 0.5 % | ||
Convergence | 1,180 | 3.8 % | 3.8 % | 3,497 | 2.7 % | 2.7 % | ||
Mobile Only | 577 | 2.8 % | 2.3 % | 1,699 | 1.1 % | 0.7 % | ||
Fixed Only | 966 | (2.7)% | (2.4)% | 2,910 | (2.4)% | (2.2)% | ||
Wholesale | 1,291 | (15.4)% | (16.3)% | 4,011 | (8.1)% | (9.1)% | ||
Equipment sales | 300 | (0.4)% | (0.4)% | 823 | 8.4 % | 8.4 % | ||
Other revenues | 169 | 7.3 % | 7.6 % | 494 | 3.6 % | 3.9 % |
Continuing solid commercial performances
Orange France’s revenues were impacted by the lower level of co-financing received compared to the third quarter of 2020. Excluding co-financing, revenues would be virtually stable (-0.4%).
Retail services showed a continued acceleration in growth (+1.2% vs. +0.4% in the second quarter and -0.2% in the first quarter). Excluding PSTN, growth would be 3.7%, offsetting the effect of the structural decline of copper.
Equipment sales recorded a slight decline after the very strong growth in the second quarter (+23.4%) which had benefited from the reopening of stores compared to 2020.
Revenues from wholesale services were down sharply due to the major co-financing of the Fiber network received in the third quarter of 2020.
Orange
The solid sales trend was also confirmed in fixed broadband with +80,000 net sales in the third quarter, thanks to the continued excellent results in Fiber (+343,000 net sales) reinforcing our leadership position. Still more than half of the new Fiber customers are new customers for the Group.
Convergent ARPO increased by
In millions of euros | 3Q 2021 | change comparable basis | change historical basis | 9M 2021 | change comparable basis | change historical basis | ||
Revenues | 2,583 | (1.1)% | (2.0)% | 7,747 | (0.6)% | (1.5)% | ||
Retail services | 1,741 | (1.0)% | (1.7)% | 5,192 | (2.5)% | (3.3)% | ||
Convergence | 679 | 1.2 % | 0.8 % | 2,016 | (1.3)% | (1.7)% | ||
Mobile Only | 732 | (3.8)% | (4.5)% | 2,166 | (4.8)% | (5.5)% | ||
Fixed Only | 251 | (5.7)% | (6.9)% | 773 | (4.1)% | (5.3)% | ||
IT & Integration services | 79 | 31.5 % | 29.0 % | 237 | 15.9 % | 13.6 % | ||
Wholesale | 452 | (5.0)% | (5.7)% | 1,378 | (3.0)% | (3.8)% | ||
Equipment sales | 347 | 0.2 % | (2.3)% | 1,065 | 12.7 % | 10.2 % | ||
Other revenues | 42 | 42.3 % | 39.6 % | 112 | 13.3 % | 11.5 % |
Strong growth in retail services6, excluding
Revenues from
The trend in retail services is improving, despite recording a slight decline (-1.0%) due to
The performance of fixed broadband was driven by all countries, which all posted positive net sales, with
In
Following the successful migration of the Republica Movil customers to Simyo, Orange Spain continued its operational transformation by starting the migration of Amena’s customers to the Orange brand, which will enable it to reduce its portfolio from five to three brands.
In millions of euros | 3Q 2021 | change comparable basis | change historical basis | 9M 2021 | change comparable basis | change historical basis | ||
Revenues | 1,652 | 12.0 % | 12.0 % | 4,694 | 11.2 % | 8.7 % | ||
Retail services | 1,450 | 15.0 % | 14.9 % | 4,110 | 13.6 % | 10.9 % | ||
Mobile Only | 1,271 | 14.5 % | 13.9 % | 3,600 | 12.8 % | 9.8 % | ||
Fixed Only | 168 | 16.1 % | 19.7 % | 486 | 18.5 % | 18.5 % | ||
IT & Integration services | 11 | 82.2 % | 86.9 % | 24 | 26.7 % | 46.5 % | ||
Wholesale | 166 | (6.3)% | (6.0)% | 476 | (5.9)% | (8.2)% | ||
Equipment sales | 26 | 13.2 % | 22.0 % | 81 | 23.2 % | 30.0 % | ||
Other revenues | 9 | (32.5)% | (33.2)% | 28 | (13.3)% | (16.3)% |
Double-digit growth maintained
The main driver of this growth is Mobile, buoyed by data which is benefiting from a continual increase in the 4G customer base (+33.6% year on year). For its part, Orange Money, which is facing a tougher competitive environment, has an active customer base of 22.6 million, up 12.5% over one year.
Fixed broadband also continued to have excellent momentum, with a customer base that has increased 23.4% year on year.
Likewise, B2B services posted spectacular growth, even though this still only contributes slightly to total revenues.
All countries recorded growth in the third quarter, ten of which delivered double-digit growth.
Enterprise
In millions of euros | 3Q 2021 | change comparable basis | change historical basis | 9M 2021 | change comparable basis | change historical basis | ||
Revenues | 1,864 | (1.4)% | (1.8)% | 5,704 | 0.4 % | (0.9)% | ||
Fixed Only | 899 | (5.2)% | (5.6)% | 2,733 | (4.7)% | (6.1)% | ||
Voice | 268 | (11.3)% | (11.5)% | 837 | (9.8)% | (10.5)% | ||
Data | 631 | (2.3)% | (2.8)% | 1,896 | (2.3)% | (4.0)% | ||
IT & Integration services | 745 | 2.1 % | 1.6 % | 2,311 | 6.4 % | 4.6 % | ||
Mobile7 | 220 | 3.5 % | 3.5 % | 660 | 3.5 % | 3.4 % | ||
Mobile Only | 154 | (3.1)% | (3.4)% | 472 | (2.1)% | (2.9)% | ||
Wholesale | 10 | (8.1)% | (8.1)% | 31 | (2.6)% | (2.6)% | ||
Equipment sales | 56 | 31.1 % | 32.6 % | 157 | 26.9 % | 31.0 % |
Revenues down, due in particular to the sharp drop in voice services
Enterprise revenues declined in the third quarter, although still recorded growth over the first nine months of the year.
This was mainly the result of the continuing decline of voice which was not offset this quarter by growth in Mobile and IT & Integration services. The transformation in customer usage, which is shifting ever more to fully digital solutions, has accelerated the decline of voice compared to its historical trend with voice now representing just 14% of total revenues.
Growth in IT & Integration services slowed but remained positive thanks to Cybersecurity (+14%) and Cloud and Digital & Data activities (both up more than 8%).
International Carriers & Shared Services
In millions of euros | 3Q 2021 | change comparable basis | change historical basis | 9M 2021 | change comparable basis | change historical basis | ||
Revenues | 392 | 10.8 % | 11.3 % | 1,135 | 4.9 % | 5.0 % | ||
Wholesale | 270 | 7.3 % | 8.1 % | 792 | 1.0 % | 1.6 % | ||
Other revenues | 122 | 19.6 % | 19.1 % | 343 | 14.9 % | 13.9 % |
Revenue from International Carriers & Shared Services grew 10.8%.
Services to international carriers, whose activities were severely impacted by the health crisis in 2020, posted strong growth thanks to the partial lifting of restrictions on international travel. They also benefited from the good performance of voice and messaging activities.
Other revenue growth accelerated thanks to Orange Marine, driven by its new Survey activities and the strong revival in cable laying, as in the second quarter.
Mobile financial services now have 1.6 million customers in
In
Calendar of upcoming events
Contacts
press: tom.wright@orange.com ; +33 6 78 91 35 11 | financial communication: +33 1 44 44 04 32 (analysts and investors) p.lambert@orange.com samuel.castelo@orange.com Aurélia Roussel aurelia.roussel@orange.com Andrei Dragolici andrei.dragolici@orange.com louise.racine@orange.com honghai.vuong@orange.com individual shareholders: 0 800 05 10 10 |
Disclaimer
This press release contains forward-looking statements about Orange’s financial situation, results of operations and strategy. Although we believe these statements are based on reasonable assumptions, they are subject to numerous risks and uncertainties, including matters not yet known to us or not currently considered material by us, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. More detailed information on the potential risks that could affect our financial results is included in the Universal Registration Document filed on
Appendix 1: key financial indicators
Quarterly data
In millions of euros | 3Q 2021 | 3Q 2020 comparable basis | 3Q 2020 historical basis | change comparable basis | change historical basis | |
Revenues | 10,508 | 10,551 | 10,584 | (0.4)% | (0.7)% | |
4,483 | 4,676 | 4,693 | (4.1)% | (4.5)% | ||
2,583 | 2,610 | 2,636 | (1.1)% | (2.0)% | ||
1,652 | 1,474 | 1,474 | 12.0 % | 12.0 % | ||
Enterprise | 1,864 | 1,891 | 1,898 | (1.4)% | (1.8)% | |
International Carriers & Shared Services | 392 | 353 | 352 | 10.8 % | 11.3 % | |
(466) | (453) | (468) | ||||
EBITDAaL (1) | 3,550 | 3,576 | 3,584 | (0.7)% | (1.0)% | |
o/w Telecom activities | 3,579 | 3,607 | 3,613 | (0.8)% | (1.0)% | |
As % of revenues | 34.1 % | 34.2 % | 34.1 % | (0.1 pt) | (0.1 pt) | |
o/w | (29) | (31) | (29) | 7.8 % | 2.2 % | |
eCAPEX | 1,709 | 1,727 | 1,730 | (1.0)% | (1.2)% | |
o/w Telecom activities | 1,707 | 1,718 | 1,723 | (0.6)% | (0.9)% | |
as % of revenues | 16.2 % | 16.3 % | 16.3 % | (0.0 pt) | (0.0 pt) | |
o/w | 1 | 8 | 7 | (82.3)% | (79.6)% | |
EBITDAaL - eCAPEX | 1,841 | 1,849 | 1,854 | (0.4)% | (0.7)% |
(1) EBITDAaL adjustments are described in Appendix 2.
30 September data
In millions of euros | 9M 2021 | 9M 2020 comparable basis | 9M 2020 historical basis | change comparable basis | change historical basis | |
Revenues | 31,374 | 31,104 | 31,353 | 0.9 % | 0.1 % | |
13,433 | 13,667 | 13,717 | (1.7)% | (2.1)% | ||
7,747 | 7,791 | 7,864 | (0.6)% | (1.5)% | ||
4,694 | 4,222 | 4,320 | 11.2 % | 8.7 % | ||
Enterprise | 5,704 | 5,679 | 5,757 | 0.4 % | (0.9)% | |
International Carriers & Shared Services | 1,135 | 1,082 | 1,080 | 4.9 % | 5.0 % | |
(1,339) | (1,338) | (1,384) | ||||
EBITDAaL (1) | 9,387 | 9,434 | 9,498 | (0.5)% | (1.2)% | |
o/w Telecom activities | 9,471 | 9,540 | 9,598 | (0.7)% | (1.3)% | |
As % of revenues | 30.2 % | 30.7 % | 30.6 % | (0.5 pt) | (0.4 pt) | |
o/w | (85) | (106) | (101) | 19.8 % | 16.1 % | |
eCAPEX | 5,554 | 4,858 | 4,886 | 14.3 % | 13.7 % | |
o/w Telecom activities | 5,540 | 4,834 | 4,865 | 14.6 % | 13.9 % | |
as % of revenues | 17.7 % | 15.5 % | 15.5 % | 2.1 pt | 2.1 pt | |
o/w | 14 | 24 | 21 | (40.8)% | (33.1)% | |
EBITDAaL - eCAPEX | 3,833 | 4,577 | 4,612 | (16.2)% | (16.9)% |
(1) EBITDAaL adjustments are described in Appendix 2.
Appendix 2: adjusted data to income statement items
Quarterly data
3Q 2021 | 3Q 2020 historical basis | |||||||
In millions of euros | Adjusted data | Presentation adjustments | Income statement | Adjusted data | Presentation adjustments | Income statement | ||
Revenues | 10,508 | - | 10,508 | 10,584 | - | 10,584 | ||
External purchases | (4,298) | 0 | (4,298) | (4,261) | - | (4,261) | ||
Other operating income | 165 | - | 165 | 132 | - | 132 | ||
Other operating expense | (91) | (5) | (96) | (112) | (7) | (119) | ||
Labor expenses | (1,982) | 12 | (1,970) | (1,991) | 67 | (1,924) | ||
Operating taxes and levies | (339) | - | (339) | (352) | - | (352) | ||
Gains (losses) on disposal of fixed assets, investments and activities | na | 362 | 362 | na | 14 | 14 | ||
Restructuring costs | na | (40) | (40) | na | 2 | 2 | ||
Depreciation and amortization of financed assets | (21) | - | (21) | (15) | - | (15) | ||
Depreciation and amortization of right-of-use assets | (363) | - | (363) | (367) | - | (367) | ||
Impairment of right-of-use assets | - | - | - | - | - | - | ||
Interest expenses on liabilities related to financed assets | (0) | 0 | na | (0) | 0 | na | ||
Interest expenses on lease liabilities | (28) | 28 | na | (33) | 33 | na | ||
EBITDAaL | 3,550 | 359 | na | 3,584 | 109 | na | ||
Significant litigation | - | - | na | (3) | 3 | na | ||
Specific labor expenses | 21 | (21) | na | 68 | (68) | na | ||
Fixed assets, investments and business portfolio review | 362 | (362) | na | 14 | (14) | na | ||
Restructuring program costs | (40) | 40 | na | 2 | (2) | na | ||
Acquisition and integration costs | (13) | 13 | na | (6) | 6 | na | ||
Interest expenses on liabilities related to financed assets | na | (0) | (0) | na | (0) | (0) | ||
Interest expenses on lease liabilities | na | (28) | (28) | na | (33) | (33) |
30 September data
9M 2021 | 9M 2020 historical basis | |||||||
In millions of euros | Adjusted data | Presentation adjustment, | Income statement | Adjusted data | Presentation adjustments | Income statement | ||
Revenues | 31,374 | - | 31,374 | 31,353 | - | 31,353 | ||
External purchases | (13,031) | (3) | (13,034) | (12,808) | - | (12,808) | ||
Other operating income | 487 | - | 487 | 403 | - | 403 | ||
Other operating expense | (318) | (73) | (391) | (387) | (181) | (568) | ||
Labor expenses | (6,355) | (36) | (6,391) | (6,333) | 33 | (6,300) | ||
Operating taxes and levies | (1,527) | (31) | (1,558) | (1,584) | - | (1,584) | ||
Gains (losses) on disposal of fixed assets, investments and activities | na | 374 | 374 | na | 73 | 73 | ||
Restructuring costs | na | (284) | (284) | na | (11) | (11) | ||
Depreciation and amortization of financed assets | (62) | - | (62) | (37) | - | (37) | ||
Depreciation and amortization of right-of-use assets | (1,093) | - | (1,093) | (1,019) | - | (1,019) | ||
Impairment of right-of-use assets | - | (60) | (60) | - | (6) | (6) | ||
Interest expenses on liabilities related to financed assets | (1) | 1 | na | (1) | 1 | na | ||
Interest expenses on lease liabilities | (86) | 86 | na | (91) | 91 | na | ||
EBITDAaL | 9,387 | (26) | na | 9,498 | (0) | na | ||
Significant litigation | (89) | 89 | na | (172) | 172 | na | ||
Specific labor expenses | (21) | 21 | na | 40 | (40) | na | ||
Fixed assets, investments and business portfolio review | 374 | (374) | na | 73 | (73) | na | ||
Restructuring program costs | (344) | 344 | na | (17) | 17 | na | ||
Acquisition and integration costs | (34) | 34 | na | (16) | 16 | na | ||
Interest expenses on liabilities related to financed assets | na | (1) | (1) | na | (1) | (1) | ||
Interest expenses on lease liabilities | na | (86) | (86) | na | (91) | (91) |
Appendix 3: economic CAPEX to investments in property, plant and intangible investment
In millions of euros | 3Q 2021 | 3Q 2020 historical basis | 9M 2021 | 9M 2020 historical basis | ||
eCAPEX | 1,709 | 1,730 | 5,554 | 4,886 | ||
Elimination of proceeds from sales of property, plant and equipment and intangible assets | 51 | 68 | 99 | 266 | ||
Telecommunication licenses | 420 | 5 | 713 | 47 | ||
Financed assets | 2 | 56 | 25 | 173 | ||
Investments in property, plant and equipment and intangible assets | 2,182 | 1,860 | 6,391 | 5,372 |
Appendix 4: key performance indicators
In thousand, at the end of the period | 2021 | 2020 | |||||
Number of convergent customers | 11,256 | 10,914 | |||||
Number of mobile accesses (excluding MVNOs) (1) | 221,788 | 211,856 | |||||
o/w | Mobile accesses of convergent customers | 20,371 | 19,484 | ||||
Mobile only accesses | 201,417 | 192,371 | |||||
o/w | Contract customers | 80,115 | 76,252 | ||||
Prepaid customers | 141,673 | 135,604 | |||||
Number of fixed accesses (2) | 44,674 | 45,128 | |||||
Number of fixed retail accesses | 29,301 | 29,357 | |||||
Number of fixed broadband accesses | 22,323 | 21,301 | |||||
o/w | Accesses with very high-speed broadband | 11,270 | 8,997 | ||||
Accesses of convergent customers | 11,256 | 10,914 | |||||
Fixed only accesses | 11,067 | 10,387 | |||||
Number of fixed narrowband accesses | 6,978 | 8,055 | |||||
Number of fixed wholesale accesses | 15,373 | 15,771 | |||||
Group total accesses (1+2) | 266,462 | 256,983 |
2020 data is presented on a comparable basis.
Key indicators by country are presented in the "Orange investors data book Q3 2021", available on www.orange.com, under Finance/Results www.orange.com/en/latest-consolidated-results
Appendix 5: glossary
Key figures
Data on a comparable basis: data based on comparable accounting principles, scope of consolidation and exchange rates are presented for previous periods. The transition from data on an historical basis to data on a comparable basis consists of keeping the results for the period ended and then restating the results for the corresponding period of the preceding year for the purpose of presenting, over comparable periods, financial data with comparable accounting principles, scope of consolidation and exchange rate. The method used is to apply to the data of the corresponding period of the preceding year, the accounting principles and scope of consolidation for the period just ended as well as the average exchange rate used for the income statement for the period ended. Changes in data on a comparable basis reflect organic business changes. Data on a comparable basis is not a financial aggregate as defined by IFRS and may not be comparable to similarly-named indicators used by other companies.
EBITDAaL or “EBITDA after Leases”: operating income (i) before depreciation and amortization of fixed assets, effects resulting from business combinations, reclassification of cumulative translation adjustment from liquidated entities, impairment of goodwill and fixed assets, share of profits (losses) of associates and joint ventures, (ii) after interest on debts related to financed assets and on lease liabilities, and (iii) adjusted for significant litigation, specific labor expenses, fixed assets, investments and businesses portfolio review, restructuring programs costs, acquisition and integration costs and, where appropriate, other specific elements. EBITDAaL is not a financial aggregate as defined by IFRS standards and may not be directly comparable to similarly-named indicators in other companies.
eCAPEX or “economic CAPEX”: (i) acquisitions of property, plant and equipment and intangible assets, excluding telecommunications licenses and financed assets, (ii) less the price of disposal of property, plant and equipment and intangible assets. eCAPEX is not a financial performance indicator as defined by IFRS standards and may not be directly comparable to indicators referenced by similarly-named indicators in other companies.
Organic Cash Flow (telecoms activities): for the perimeter of the telecoms activities, this corresponds to the net cash provided by operating activities, minus (i) lease liabilities repayments and debts related to financed assets repayments, and (ii) purchases and sales of property, plant and equipment and intangible assets, net of the change in the fixed assets payables, (iii) excluding effect of telecommunication licenses paid and significant litigations paid or received. Organic Cash Flow (telecoms activities) is not a financial aggregate defined by IFRS and may not be comparable to similarly-named indicators used by other companies.
Other revenue: other revenue includes equipment sales to dealers and brokers, revenue from portals, on‑line advertising revenue and corporate transversal business line activities of the Group, and other miscellaneous revenue.
Retail services: aggregation of Convergent services, Mobile only services, Fixed only services and IT & integration services. Concerns only
Convergence
The customer base and the revenues invoiced to convergence services customers (excluding equipment sales) was for convergent offers defined as the combination of, at a minimum, a fixed broadband access and a mobile contract subscribed by retail market customers.
Convergent ARPO: the average quarterly revenues per convergent offer (ARPO) is calculated by dividing revenues from retail convergent services offers invoiced to customers generated over the past three months (excluding IFRS 15 adjustments) by the weighted average number of retail convergent offers over the same period. ARPO is expressed by monthly revenues per convergent offer.
Performance indicators
The fixed retail accesses correspond to the number of fixed broadband accesses (xDSL (ADSL and VDSL), FTTx, cable, Fixed-4G (fLTE) and other broadband accesses (satellite, Wimax and others)) and fixed narrowband accesses (mainly PSTN) and payphones.
The fixed wholesale accesses correspond to the number of fixed broadband and narrowband wholesale accesses operated by Orange.
Mobile Only services
Revenues from Mobile Only services consists of revenues invoiced to customers of mobile offers excluding retail convergence and equipment sales. The customer base includes customers with a contract excluding retail convergence, machine-to-machine contracts and prepaid cards.
Mobile Only ARPO: the average quarterly revenues from Mobile Only (ARPO) is calculated by dividing the revenue from Mobile Only services (excluding machine-to-machine and IFRS 15 adjustments) generated over the past three months by the weighted average of Mobile Only customers (excluding machine-to-machine) over the same period. The ARPO is expressed as monthly revenues per Mobile Only customer.
Fixed Only services
Revenues from Fixed Only services include the revenue of fixed services excluding retail convergence and equipment sales: traditional fixed-line telephony, fixed broadband and enterprise solutions and networks (with the exception of
Fixed Only Broadband ARPO: the average quarterly revenues from Fixed Only Broadband (ARPO) is calculated by dividing the revenue from Fixed Only Broadband services (excluding IFRS 15 adjustments) generated over the past three months by the weighted average of Fixed Only Broadband customers over the same period. ARPO is expressed as monthly revenues per Fixed Only Broadband customer.
IT & integration services
Revenues from IT and integration services include revenue from unified communication and collaboration services (Local Area Network and telephony, consulting, integration, project management and video conferencing offers), hosting and infrastructure services (including cloud computing), application services (customer relations management and other application services), security services, machine-to-machine services (excluding connectivity), as well as equipment sales for the products and services above.
Wholesale
Revenues from other carriers consists of (i) mobile services to other carriers including incoming traffic, visitor roaming, network sharing, national roaming and Mobile Virtual Network Operators (MVNOs), and (ii) fixed services to other carriers including national networking, services to international carriers, high-speed and very high-speed broadband access (fibre access, unbundling of telephone lines and xDSL access sales) and the sale of telephone lines on the wholesale market.
1 Unless otherwise stated, the changes presented in this press release are on a comparable basis.
2 Includes B2C and B2B services. See the definition in Appendix 5: glossary.
3 These targets take into account the allocation of the 2.2 billion-euro tax refund received at the end of 2020 after the
4 The ex-dividend date is set for
5 Includes B2C and B2B services. See the definition in Appendix 5: glossary.
6 Includes B2C and B2B services. See the definition in Appendix 5: glossary.
7 Mobile revenues include mobile services and mobile equipment sales invoiced to businesses and incoming mobile traffic from businesses invoiced to other carriers.
Attachment
- PR_Orange_3Q_2021_EN_261021
© OMX, source