Sustained financial and commercial performance

  • Mobile postpaid customer base (excl. VOO) +2.7% yoy
  • Cable customer base (excl. VOO) +11.4% yoy
  • H1 Revenues (incl. the month of June for VOO) +2.9% comparable1 change yoy
  • H1 EBITDAaL (incl. the month of June for VOO) +0.9% comparable1 change yoy

Xavier Pichon, Chief Executive Officer, commented:

Orange Belgium has achieved a strong commercial performance over the semester. Furthermore, the closing of the acquisition of VOO has taken place in the beginning of June, marking a significant milestone for our organization.

While we still operate as separate legal entities, the integration efforts have started, and we are already functioning as a unified company in terms of our commercial approach, go-to-market strategies, and organizational structure. This achievement highlights our commitment to seamlessly merging our operations and capitalizing on the synergies this acquisition offers.

Looking ahead, our focus remains on executing the planned synergies to maximize our potential of value creation and secure the 3 pillars of “Lead the Future” we recently announced:

  1. Our Future is defined by an outstanding multi-gigabit networks’ leadership.
  2. Our Future is defined by a Customer Experience Excellence, managing a multisegmented ecosystem and bringing our customers’ servicing assets back to Belgium.
  3. We care for people: a resilient, modern and responsible company with strong human and ESG values.

 

Antoine Chouc, Chief Financial Officer, stated:

I am pleased to announce the publication of our financial results for the first half of 2023, which include for the first time the figures of VOO for the month of June. We managed to limit the impact of the inflation on our margin thanks to a solid commercial performance, pricing adaptations and a tight cost control.

Following the acquisition, we have a strong focus on the execution of the synergies: the MVNO migration has already started, the first purchasing synergies are being unlocked and the common go-to-markets will create significant efficiencies.

We are convinced that the integration of VOO will unlock significant value and contribute to our overall growth strategy.

The figures presented in this report, remain limited due to the short inclusion period and it is important to note that the purchase price allocation, including the assessment of goodwill, has not yet been finalized.

Considering the inclusion of VOO figures for a period of seven months, with Orange Belgium accounting standards, we have restated our guidance for 2023. EBITDAaL will be between €430m and €450m, while the total eCapex is expected to be between €290m and €310m.

OBEL S1 2023 EN Final.pdf

PDF 643 KB
Download

Koen Van Mol

Investor Relations, Orange Belgium

Sven Adams

Senior Press Relations Officer, Orange Belgium

 

Share

Get updates in your mailbox

By clicking "Subscribe" I confirm I have read and agree to the Privacy Policy.

About Orange Belgium

 

Orange Belgium is one of the major telecommunication operators on the Belgian market, with revenues of 1993.7 million euros, 3.5 million mobile customers and more than 1 million fixed broadband customers on 31 December 2024, 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 291 million customers worldwide on 31 December 2024. Orange 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 X: @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 – sven.adams@orange.com +32 (0)486 36 47 22
press@orange.be

Contact

Bourgetlaan 3 1140 Brussels

press@orange.be

corporate.orange.be