Telecoms group Orange’s Q1 core profits up 1%, confirms full-year targets

PARIS: Orange, France’s biggest telecoms operator, said its first-quarter core operating profit grew 1%, as high growth from its Africa and Middle-East operations offset further declines in sales in Spain and its home country.

Earnings before interest, tax, depreciation and amortisation after leases rose to 2.62 billion euros ($2.81 billion) for the quarter ended March 31.

This was in line with the average of 13 analyst estimates compiled by the company. Revenues were up 0.7% to 10.6 billion euros.

Orange said it maintained all its full-year targets for 2022, including a growth in core operating profits between 2.5% and 3%.

It also confirmed its target of organic cash flow from telecom activities of at least 3.5 billion euros next year.