Financial information for the second semester and full year 2023

Financial information for the second semester and full year 2023

Solid commercial performance leading to increased revenues and stable EBITDAaL, despite inflation headwinds in 2023

▪ Mobile postpaid customer base +4% yoy / Cable customer base +5.5% yoy

▪ H2 Revenues +5.9% yoy / FY 2023 Revenues +4.6% yoy

▪ H2 and FY 2023 EBITDAaL remain stable on a comparable basis

Story image

Xavier Pichon, Chief Executive Officer:

2023 was definitely a pivotal year for Orange Belgium. The acquisition of VOO was clearly a milestone event of the year, which made us stronger in the market. We have transformed our organization to act as One company, to maximize value creation and to materialize synergies following this acquisition.

In recent months, we have also been laying the foundations of our Lead the Future strategy. Regarding the first pillar on network leadership, we recently announced that Orange Belgium is Belgium’s first telecom provider to offer a nationwide gigabit network, allowing 95% of Belgian citizens to enjoy very high broadband speeds of up to 1 Gbps. We had also promising results in terms of customer experience excellence, the second pillar of our strategy with an optimization of our digital touch points and our customer relation processes. We are also proud of our achievements on the third pillar of our strategy about being a responsible company; notably, we overachieved our digital inclusion ambitions for 2023, while being on track with our CO2 emission reduction target.

2024 will be a challenging year with market evolutions but we remain very confident in our ability to execute our strategy.

Antoine Chouc, Chief Financial Officer:

I am pleased to announce our financial results for the second half of 2023, which for the first time include the consolidated figures of VOO for a whole semester. Our solid commercial performance, pricing adaptations and tight cost control enabled us to offset the impact of inflation on our margin. We are proud to having slightly overachieved our EBITDAaL guidance.

Following the acquisition, we are strongly focused on executing the synergies: the MVNO migration has already been completed, the first purchasing synergies are being unlocked and the common go-to-markets will create significant efficiencies. These promising results 6 months after the closing make us confident that we will deliver the expected synergies and thus unlock significant value and contribute to our overall growth strategy.

For our 2024 guidance we foresee EBITDAaL between €515m and €535m, while eCapex will be within the range of €365m and €385m.

2023 dividend

Considering the balance sheet impact of the acquisition of VOO, the Board of Directors will not propose any dividend for the financial year 2023 at the Annual General Meeting.

2024 outlook

The Company targets an EBITDAaL between €515m and €535m. Total eCapex in 2024 is expected to be between €365m and €385m.

New Financial Calendar

2 May Annual General Meeting of Shareholders

1 July Start of quiet period

19 July Financial results H1 2024 (7:00 am CET) – Press release

19 July Financial results H1 2024 (2:00 pm CET) – Audio conference call

This is a preliminary agenda and is subject to changes

OBEL H2 2023 EN.pdf 579 KB
Koen Van Mol Investor Relations, Orange Belgium
Sven Adams Senior Press Relations Officer, Orange Belgium

 

 

 

About Orange Belgium

About Orange Belgium

Orange Belgium is one of the major telecommunication operators on the Belgian market, with revenues of 1,749 million euros in 2023 and over 3 million customers on 31 December 2023, and in Luxembourg, via its subsidiary Orange Communications Luxembourg. Thanks to its own fixed and mobile networks, Orange Belgium offers both residential and business customers fixed and mobile connectivity services and convergent offerings (internet, telephony, television, including original TV content: Be tv, VOOsport, etc.). As a responsible operator, Orange Belgium invests to reduce its ecological footprint and promote sustainable and inclusive digital practices. Orange Belgium is also a wholesale operator, offering its partners access to its infrastructure as well as a broad portfolio of connectivity and mobility services, including offerings based on Big Data and the Internet of Things (IoT).

Orange Belgium is a subsidiary of the Orange Group, present in 26 countries with a total customer base of 298 million customers worldwide on 31 December 2023. The Group is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business.

Orange Belgium is listed on the Brussels Stock Exchange (OBEL).

For more information on the internet and on your mobile: corporate.orange.be, www.orange.be or follow us on Twitter: @pressOrangeBe

Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.

Press contact
Sven Adams – [email protected] +32 (0)486 36 47 22
[email protected]

Orange Belgium
Bourgetlaan 3
1140 Brussels

Newsroom published with Prezly: PR Software.