Press release Orange Belgium: financial info first semester - Sustained financial performance despite macro-economic context and competitive environment nationwide

Xavier Pichon, Chief Executive Officer, commented:

The events in the world during the first half of this year have had major impact on the macro-economic situation with unprecedented inflation and rising energy costs. In addition, we notice that the market has been slowing down with fewer market movements in a competitive environment nationwide. Nevertheless, Orange Belgium has been able to provide positive commercial results, consolidating our position in mobile and improving our market share in broadband. Proof of the company’s strong resilience.

Following the spectrum auction in June, we were able to obtain the maximum of key 5G spectrum available. This spectrum will allow us to deploy a multi-gigabit 5G network with outstanding coverage and capacity. In combination with the switch-off of 3G and later 2G, this will allow optimum usage of the spectrum providing the optimal services for the customer. In addition, during the first half of this year, we already made the 5G network available to our postpaid customers and we announced the opening of a second 5G Lab in the heart of Liège. True to our commitment to act as an engaged and responsible operator, we opened the Orange Digital Center in Brussels, free and open to all to promote learning.

Antoine Chouc, Chief Financial Officer, stated:

As last year, we have been able to deliver solid financial results, both in revenues as well as in EBITDAaL. Despite the loss of Mobile Vikings, our revenues have improved over the first half of the year. The growth comes mainly from the positive commercial performance and the review of our fixed and mobile tariff plans.

In a context of macro-economic uncertainties with rising inflation and increasing energy costs we have been able to control our costs successfully. Indirect costs have grown at a slower pace than inflation over the same period. Consequently, we were able to increase our EBITDAaL by 3.5% compared with the same period of last year.

We remain cautiously optimistic and confirm our guidance for the year 2022, with low single-digit revenue growth, ​ EBITDAaL between 350 million euros and 370 million euros, and eCapex between 210 million euros and 230 million euros.