Orange Belgium: First semester 2016 financial information
20 Luglio 2016 - 7:02AM
Key financial and
commercial indicators continue to show progress
Orange Belgium now
established as a national convergent operator under its new
brand
MVNO revenues
secured for the next 3 years
Brussels, 20 July 2016 - Today,
Orange Belgium Group (Euronext Brussels: OBEL) publishes its
results for the second quarter and first half of 2016. This period,
and in particular the second quarter of 2016, was a pivotal moment
for the company with the successful nationwide launch of the Orange
internet + TV offer in Belgium and the rebranding of Mobistar into
Orange Belgium. The Orange Belgium Group continued on its growth
path with all key financial (mobile service revenues, restated
EBITDA and net financial debt) and commercial indicators (postpaid
ARPU and postpaid and cable customer base), showing progress in the
first half of 2016.
-
On May 10, 2016, Mobistar was successfully
rebranded into Orange Belgium, whose mission is to connect everyone
to what is essential to them, making everyone's life a unique
experience, every day. The rebranding into Orange Belgium, combined
with the launch of convergent offers, also reinforces the position
of Orange Belgium in the business segment by underpinning the
international strength of the Orange-portfolio.
-
Following the unveiling of the Orange internet +
TV offering in March 2016, Orange Belgium commercially started
offering its product nationwide as of mid-May and became the first
operator with access to the cable network at a national scale in
Belgium. At the end of June, Orange Belgium already stood at 10.5
thousand households on its Orange internet + TV offering that on
average have 2 SIM-cards. Though in this first phase of the
commercial launch existing customers remained the primary target,
the uptake of new convergent subscriptions is already exceeding
initial expectations. Orange Belgium now aims at attracting an
increasing number of customers every quarter by communicating more
specifically on the benefits of its convergent offers and
progressively through a commercialization in all distribution
channels.
-
Orange Belgium's retail customer base
development continued throughout the second quarter of 2016,
reaching 3.8 million customers. This was partly due to the positive
evolution of the postpaid customer base, which added 17.8 thousand
customers, predominantly 4G smartphone users. In addition to the
increasing postpaid customer base, Orange Belgium also increased
its postpaid ARPU to 28.8 euros in the second quarter of 2016, from
27.9 euros a year ago, an increase of 3.4 % year-on-year. Both
metrics have increased for the fifth quarter in a row.
-
In the first half of 2016, the Orange Belgium
Group generated mobile service revenues of 504.5 million euros, a
solid increase of 1.9 % compared with the same period last year
(i.e. +3.2 % excl. EU roaming regulation): the rapid adoption of 4G
data usage and the solid increase of both the postpaid customer
base and ARPU contributed substantially to this positive
development and fully offset the negative impact of the new Roaming
IV Regulation.
-
The restated EBITDA increased by 2.0 %
year-on-year to 144.9 million euros in the first half of 2016 as a
result of both the positive trend of the top line and sustained
focus on cost optimisation. Overall, it has to be noted that the
reversal of the 2015 Walloon pylon tax recently ruled
unconstitutional contributed to mitigate for the negative impact of
EU roaming, commercial launch of cable, increase in operational
taxes and other one-off costs related to the rebranding in the
second quarter of 2016.
-
The organic cash flow in the first half of 2016
increased 4.8 % year-on-year, compared to the first half of 2015,
with net investments over the period coming down 10.3 % compared to
the same period last year. As a consequence, the net financial debt
at the end of the first half of 2016 was reduced down to 369.9
million euros, compared to 499.8 million euros a year ago, a
decrease of 26.0 % year-on-year. This translates into a net
financial debt/EBITDA ratio of 1.1x at the end of June 2016,
compared to 1.9x a year ago.
-
The Orange Belgium Group revised its restated
EBITDA guidance for the year 2016 to between 285 and 305 million
euros from between 270 and 290 million euros, both excluding cable
costs. This revised guidance corresponds to the reversal of
provision related to the Walloon pylon tax for the year
2015.
-
Orange Belgium and Telenet agreed upon the terms
and conditions for the termination of the full MVNO, contract
initially signed in 2012, by which Telenet committed to a minimum
payment of 150.0 million euros (excluding VAT) over the 3-year
period 2016-2018. The actual amount paid by Telenet could however
exceed this minimum amount in case of higher network usage. Beyond
2018, an optional 6-month extension period has been granted for a
minimum payment of 15.0 million euros (excluding VAT).
Orange Belgium Investor Relations
For the full PDF version, please click here
below:
H1 2016 results - UK
H1 2016 results - FR
H1 2016 results - NL
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Orange Belgium via Globenewswire
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