Solid EBITDAaL growth on the back of strong mobile commercial momentum and continuous cost management

▪ Mobile postpaid customer base +3.9% yoy / Cable customer base +25.5% yoy

▪ Q3 Revenues +3.3% yoy / Q3 Retail service revenues +4.8% yoy

▪ Q3 EBITDAaL +8.1% yoy (YTD ‘21: +8.5%)

 

Q3 Operational Highlights

▪ Strong growth in mobile net adds. The mobile postpaid customer base grew by 37k to 2.7m subscribers supported by the attractiveness of the Go portfolio, especially after the Go Plus data boost launched in June.

▪ Love and Home offers continue their steady growth trajectory. Cable customer base increased by 17k during Q3 to 382k customers (+25.5% yoy).

▪ B2C convergent ARPO decreased by 3.1% yoy to €73.1, as a result of the discounts provided on mobile tariff plans in convergence.

▪ Mobile only postpaid ARPO remained stable at €20.5.

 

Q3 Financial Highlights

▪ Revenues reached €346.3m, up 3.3% yoy, mainly explained by an increase in retail service revenues as well as in wholesale revenues. As in previous quarters, retail service revenues continued to grow (+4.8% yoy), mainly due to convergent service revenues (+14.6% yoy). Revenue growth is also driven by a significant increase in customer and visitor roaming.

▪ EBITDAaL increased by 8.1% yoy to €96.7m. The increase of retail service revenues supported by continuous cost efficiencies have been the main drivers. EBITDAaL margin reached 27.9%.

▪ eCapex closed at €40.2m, slightly below Q3 2020 due to seasonality effect. A catch-up is expected in Q4 driven by the implementation of the RAN sharing deal.

 

Xavier Pichon, Chief Executive Officer, commented: Orange Belgium maintained solid commercial performance over the third quarter supported by the recent enhancements to the Go portfolio and the continuous growth of our convergence offers.

In addition, Orange Belgium continues to differentiate itself in the market while extending the range of value propositions to satisfy customers' constantly changing needs.

We successfully launched Orange TV Lite, enabling customers to stream OTT, without having to pay a full TV subscription or needing a set-top box and hey! our new 100% digital brand, targeting ultra-connected customers leading completely digitally oriented lives.

Antoine Chouc, Chief Financial Officer, stated: Our positive commercial results also delivered corresponding financial performance. Our revenues have increased 3.3% in comparison to last year mainly supported by higher retail service revenues as well as growth in wholesale revenues.

The combination of increased retail service revenues and continuous cost management has resulted in outstanding EBITDAaL for this quarter. Regarding eCapex, we expect a catch-up in the last quarter of the year.

Given these results, and the improved health context, we expect to slightly exceed our EBITDAaL guidance. Revenue and eCapex guidance remain unchanged.

 

ENG OBEL_ER_2021 Q3 FV.pdf 501 KB
Koen Van Mol Investor Relations

 

 

About Orange

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).

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