Overall, we are very satisfied with our first quarter results.e », commented Christel Heydemann, the general director of Orange, during the presentation of the operator’s first quarter results. For good reason, its turnover amounted to 9.8 billion euros, an increase of 2.1% on a comparable basis, slightly above consensus expectations, and even a slight acceleration compared to the 1.8% increase observed last year. The same goes for the gross operating surplus after rental contracts (Ebitdaal), which reached 2.4 billion euros. It is up 2.3%, also slightly above consensus, and is accelerating (+1.3% in 2023, +2% in the last quarter).
As a result, management confirmed its annual forecast (after deconsolidation of Spain) of a “ slight growth » of Ebitdaal and an organic cash flow of at least 3.3 billion. The board of directors will propose to increase the 2024 dividend (payable in 2025) to €0.75 per share.
