Orange Capex decreases 11% in Q2

Orange said Capex decreased 11.1 percent in 2Q 2022.
Orange 5G mobile business
In 1H as a whole, eCapex reached 3,413 million euros, confirming the decrease, albeit of a lesser magnitude, expected for the year.

Capex for 2022 will not be more than 7.4 billion euros, Orange said in a news statement.

Revenues grew 0.1 percent  in 1H 2022 and were slightly down by 0.4 percent in 2Q 2022, impacted by the underlying effect of fiber network co-financing received in 2Q 2021. In 2Q 2022:

France (-2.7 percent) recorded solid growth in retail services of 1.4 percent (+3.4 percent excluding PSTN).

Europe (-0.9 percent) improved (compared with -2 percent in 1Q 2022), due to strong growth in Poland (+3.4 percent) and Belgium (+4 percent) and the recovery under way in Spain (-4 percent).

Africa & Middle East (+7.2 percent) continued to deliver strong growth.

Enterprise recorded a decrease (-1.1 percent), as the structural decline in legacy Voice and Data activities outweighed the growth drivers of IT & integration services.

Second-quarter sales fell 0.4 percent on a comparable basis to 10.7 billion euros. Orange also confirmed its full-year targets, including an increase in core operating profit between 2.5 percent and 3.0 percent.

Christel Heydemann, who took over as CEO in early April, will present the group’s next mid-term targets and strategy in February 2023