Orange Group 2021 EBITDAaL Up 0.8% Excl. Employee Shareholding Program; Revenues Up 0.8%

The Orange group (ORAN) said its EBITDAaL was 0.5% lower for 2021, in line with the target. Excluding the 2021 employee shareholding program, EBITDAaL was up 0.8% for 2021. Revenues were up 0.8% for the full year, driven by the solid performance of Africa & Middle East and a strong increase in equipment sales.

Full year 2021 Group EBITDAaL was at 12.6 billion euros, down 0.5% from prior year. EBITDAaL from telecom activities was 12.7 billion euros, down 0.8%. Organic cash-flow from telecoms activities was at 2.4 billion euros, in line with the goal to exceed 2.2 billion euros, the company noted.

Consolidated net income was 778 million euros in 2021, compared to 5.05 billion euros, prior year. The company said the decline was linked to lower operating income as well as the 2.2 billion euros in tax income recognized at the end of 2020. Revenues were 42.5 billion euros, a year-on-year increase of 0.8%.

Fourth quarter EBITDAaL was 3.18 billion euros, down 0.7% on comparable basis from prior year. Revenues were 11.15 billion euros, up 0.5%.

For fiscal 2022, the company targets: EBITDAaL to increase by 2.5% to 3%; eCAPEX no greater than 7.4 billion euros; and organic cash flow from telecoms activities of at least 2.9 billion euros.

For 2023, Orange confirmed all of its commitments including organic cashflow from telecoms activities of at least 3.5 billion euros.

For fiscal 2021, the shareholders’ meeting will decide on the distribution of a dividend of 0.70 euros per share. Taking into account the 0.30 euro interim dividend paid on December 15, 2021, the balance of the dividend to be proposed to the shareholders’ meeting will be 0.40 euros per share, to be paid in cash on June 9, 2022.

For fiscal 2022, the 2023 shareholders’ meeting will be asked to approve a maintained dividend of 0.70 euros per share. An interim dividend of 0.30 euros per share will be paid in December 2022.

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