Orange Group revenues in Q2 reached EUR 10,926 billion, up 2.6% over a year earlier.
Some highlights:
- Accelerated revenue growth in the quarter was driven by the performance of retail services[3], which benefited from price increases. Retail services rose 4.3% in 2Q (+3.6% in 1H) and more than offset the continued decline in revenues from wholesale services, which fell 4.1% in 2Q (-5.9% in 1H). Equipment sales again recorded strong growth in 2Q with an 8% increase (+8.8% in 1H).
- France decreased 1.3% in 2Q (-1.5% in 1H), with the accelerated growth in retail services of 3.4% excluding PSTN unable to offset the anticipated decline in wholesale services revenues. Recent price increases will, however, yield results in the second half of the year.
- Europe grew 2.7% in 2Q (+3.3% in 1H), driven by Spain, which confirmed its recovery with an increase of 2.1%, and solid performances from Poland (+5.5%) and Belgium & Luxembourg (+3.0%).
- Africa & Middle East continued to post very strong growth rising 12.0% in 2Q (+10.5% in 1H) with double-digit increases across all growth engines (mobile data, fixed broadband, Orange Money, B2B).
- The Enterprise sector grew 2.4% in 2Q (+0.8% in 1H) as a result of revenues from IT & Integration services and Mobile, which more than offset the structural decline in the Voice and Data legacy businesses.
“Our first-half results are in line with our objectives for 2023. They confirm the relevance of the implementation process initiated in the context of our 'Lead the Future' strategic plan and provide confidence for the achievement of our 2025 objectives. In Europe and in France, our quarterly results in retail services show the positive momentum of our value strategy, underpinned by price increases the benefits of which in France will be fully visible in the second half of the year. We can also confirm the continuing recovery in Spain, where EBITDAaL rose by 11% in this first half. The excellent performance in Africa and the Middle East is down to our investments in the network, the satisfaction of our customers and the very strong rebound of Orange Money. These results offset those of Orange Business, whose EBITDAaL was still sharply lower despite a 2.4% increase in revenues in the second quarter. Our teams are fully focused on executing our transformation plan there,” stated Christel Heydemann, Chief Executive Officer of the Orange group.
