Sustained operational and financial performance in a still active competitive environment
26 Luglio 2021 - 7:00AM
Sustained operational and financial performance in a still active
competitive environment
Sustained operational and financial
performance in a still active competitive environment
- Mobile postpaid customer base +3.4% yoy / Cable
customer base +27.0% yoy
- Q2 Revenues +7.5% yoy / Q2 Retail service revenues
+4.9% yoy
- Q2 EBITDAaL +5.9% yoy (H1’21:
+8.8%)
Q2 Operational Highlights |
- Commercial performance remains positive amid
an active competitive environment, and lower impact of Covid-19
measures in comparison to last year.
- Cable customer base increased by 17k during Q2 to 366k
customers (+27% yoy). As a consequence the number of
convergent mobile postpaid customers increased as well.
- 17k new mobile postpaid additions bringing total
subscribers to 2.7m (+3.4% yoy) demonstrating the success
of the Go portfolio.
- B2C convergent ARPO decreased by 2.7% yoy to
€73.6, as a result of the discounts provided on mobile
tariff plans in convergence.
- Mobile only postpaid ARPO declined slightly by 0.6% yoy
to €19.6, mainly explained by the decrease in domestic out
of bundle traffic.
|
Orange
Belgium: key operating figures |
|
|
|
|
Q2 2020 |
Q2 2021 |
change |
Mobile
postpaid customer base (in ‘000) |
2,594 |
2,681 |
3.4% |
Net adds (in
‘000) |
7 |
17 |
151.9% |
Mobile only
postpaid ARPO (€ per month) |
19.7 |
19.6 |
-0.6% |
Cable customer
base (in ‘000) |
288 |
366 |
27.0% |
Net adds (in
‘000) |
8 |
17 |
101.6% |
B2C convergent
ARPO (€ per month) |
75.6 |
73.6 |
-2.7% |
|
|
|
|
Q2 Financial Highlights |
- Revenues reached €325.4m, increasing by 7.5%.
Retail service revenues continued to grow by 4.9%, mainly thanks to
higher convergent service revenues (+15.5% yoy). The lower impact
of the Covid-19 restrictions also resulted in higher equipment
revenues, an improvement of the SMS traffic, and a revamp in both
customer and visitor roaming.
- EBITDAaL increased by 5.9% yoy to €91.1m,
mainly driven by higher retail service revenues, supported by cost
efficiencies. EBITDAaL margin reached 28%.
- eCapex grew by 52.1% yoy to €45.3m, mainly
explained by the slowdown last year in cable installations and
network deployment due to Covid-19 restrictions.
|
|
reported |
|
reported |
reported |
|
reported |
in €m |
Q2 2020 |
Q2 2021 |
change |
H1 2020 |
H1 2021 |
change |
Revenues |
302.8 |
325.4 |
7.5% |
636.6 |
655.9 |
3.0% |
Retail service
revenues |
221.0 |
231.9 |
4.9% |
445.8 |
460.8 |
3.4% |
|
|
|
|
|
|
|
EBITDAaL |
86.0 |
91.1 |
5.9% |
148.2 |
161.2 |
8.8% |
margin as % of
revenues |
28.4% |
28.0% |
-42 bp |
23.3% |
24.6% |
130 bp |
eCapex1 |
-29.8 |
-45.3 |
52.1% |
-64.9 |
-81.3 |
25.3% |
Operating cash flow2 |
56.2 |
45.8 |
-18.5% |
83.3 |
79.9 |
-4.1% |
|
|
|
|
|
|
|
Net financial
debt |
181.3 |
124.4 |
|
181.3 |
124.4 |
|
|
|
|
|
|
|
|
- eCapex excluding licence fees. In Q1 2021 Orange Belgium paid
10.9 million euros on licence fees.
- Operating cash flow defined as EBITDAaL – eCapex excluding
licence fees
Xavier Pichon, Chief Executive Officer,
commented:
Once again, we can look back at a quarter with solid results and
strong commercial performance. We continued to prove that our Go
portfolio remains competitive. We even improved our offer by
increasing the data bundle of our Go Plus subscription. Although
the competition was very active over the quarter, we were able to
achieve solid net adds, both on mobile and convergence.
Furthermore, we demonstrated that we continue to be an
innovative player, working on the company’s long-term competitive
positioning. We announced that we will invest in the deployment of
open passive “fiber-to-the-premise” pilots in Brussels, which will
help us enrich our experience and to define our future positioning
on multi-gigabit fixed broadband.
As many of us, I have been deeply moved by the floods that have
impacted so many people in the country. Our teams and technical
partners have put all their efforts to maintain and restore
connectivity in the affected areas. My thoughts are with everyone
impacted, including our customers, team members and their
families.
Antoine Chouc, Chief Financial Officer,
stated:
During the second quarter of this year, we
managed to achieve total revenue growth of 7.5% compared to last
year. The quarter was less impacted by the Covid-19 measures than
last year, as shops were open and roaming as well as SMS traffic
started to increase again.
Our retail service revenues also posted a steady
growth of almost 5% compared to the second quarter of last year,
boosted by the increase in our convergence service revenues. This
evolution confirms the robustness of our growth. This “growth”
combined with sustained cost management, resulted in an increase in
EBITDAaL of almost 6%.
Taking into account these results, we are
cautiously optimistic and reconfirm our guidance.
Grafico Azioni Orange Belgium (EU:OBEL)
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Da Mar 2024 a Apr 2024
Grafico Azioni Orange Belgium (EU:OBEL)
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Da Apr 2023 a Apr 2024