Solid commercial momentum drives strong growth in retail service revenues
24 Aprile 2019 - 7:00AM
Solid commercial momentum drives strong growth in retail service
revenues
Press releaseEmbargo until April 24, 2019 at 7:00
amRegulated information
Financial information for the first quarter of 2019
Solid commercial momentum drives strong
growth in retail service revenues
- Mobile postpaid net-adds: +
21k / +53.6%
yoy
- Convergence
net-adds:
+20k /
+5.8% yoy
- Revenues: +3.8%
yoy / Retail service
revenues:+13.5% yoy
- EBITDAaL -3.8% yoy (+14% excluding impact of MVNO
revenues)
Q1’19 Belgium operating highlights
- Commercial momentum in mobile postpaid remains
solid. The mobile postpaid customer base grew by 21k
(+6.9% yoy) to 2.5m subscribers. New customers are increasingly
opting for higher tariff plans.
- Convergence net-adds confirms attractiveness of
offering. The Love offer remains the best value broadband
and TV package in the market. Orange Belgium added 20k subscribers
and reached a milestone of 200k Love customers (+64.4% yoy). The
convergent mobile subscriber base represents 12.7% of mobile
postpaid customers.
- B2C convergent ARPO continued to grow strongly while
mobile-only ARPO contracted slightly. B2C convergent ARPO
increased 7.7% yoy to €77.4 thanks to the absence of price
promotions, revenue from connection fees and the take-up of the
fixed line option. Mobile-only postpaid ARPO was 1.1% lighter yoy
as growing access revenues did not fully compensate decreasing
out-of-bundle revenues.
Orange Belgium: key operating figures
|
Q1 2018 |
Q1 2019 |
change |
Mobile
postpaid customer base (in ‘000) |
2,329 |
2,490 |
6.9% |
Net adds qoq
(in ‘000) |
14 |
21 |
53.6% |
Mobile only
postpaid ARPO (€ per month) |
21.1 |
20.8 |
-1.1% |
Convergent
customer base (in ‘000) |
122 |
200 |
64.4% |
Net adds qoq
(in ‘000) |
19 |
20 |
5.8% |
B2C convergent
ARPO (€ per month) |
71.8 |
77.4 |
7.7% |
Convergent
mobile customer as % mobile contract customer base |
8.0% |
12.7% |
471 bp |
|
|
|
|
Q1’19 consolidated financial highlights
- Revenues increased 3.8% yoy to
€318.2m. Retail service revenues continued its growth
trajectory (+13.5% yoy). Convergence services (+83.4% yoy) and
mobile only services (+3.0% yoy) were again the main growth
drivers. The loss in MVNO revenues represents €12.1m.
- EBITDAaL was impacted by the loss of Telenet MVNO
revenues. EBITDAaL decreased 3.8% yoy against Q1’18 to
€58m. Excluding the MVNO impact, EBITDAaL would have increased 14%
yoy due to higher revenues and control of direct costs. Once again,
Orange Belgium narrowed the cable operations’ EBITDA loss to €1.1m
this quarter against a €5.9m loss in Q1’18.
- 2019 financial guidance confirmed. Orange
Belgium expects slight revenue growth, EBITDAaL of €285m-€305m and
stable eCapex.
Orange Belgium Group: key financial figures
|
|
|
|
|
|
|
reported |
comparable |
|
comparable |
reported |
(in €m) |
Q1 2018 |
Q1 2018 |
Q1 2019 |
change |
change |
Revenues |
306.6 |
|
318.2 |
|
3.8% |
Retail service
revenues |
181.3 |
|
205.7 |
|
13.5% |
|
|
|
|
|
|
EBITDAaL |
N/A |
60.3 |
58.0 |
-3.8% |
|
margin |
N/A |
19.7% |
18.2% |
-144 bp |
|
eCapex |
|
-31.8 |
-36.9 |
16.1% |
|
Operating cash flow1 |
|
28.5 |
21.1 |
-25.9% |
|
|
|
|
|
|
|
Adjusted EBITDA |
60.6 |
|
|
|
|
margin |
19.8% |
|
|
|
|
Capex |
-31.8 |
|
|
|
|
Operating cash flow2 |
28.8 |
|
|
|
|
|
|
|
|
|
|
Net financial
debt |
295.5 |
|
252.1 |
|
|
|
|
|
|
|
|
1 Operating cash flow defined as EBITDAaL – eCapex
2 Operating cash flow defined as Adjusted EBITDA –Capex
- OBEL_ER_2019 Q1 ENG FINAL
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