By Olivia Bugault 
 

Orange said Thursday that 2019 net profit soared, while it confirmed its objectives for 2020.

Net profit in 2019 rose more than 50% to 3.01 billion euros ($3.28 billion), the French telecommunication company said.

Revenue came in at EUR42.24 billion from EUR41.99 billion a year earlier on a comparable basis, Orange said. Revenue in the fourth quarter was EUR11.09 billion.

Orange said that its performance was driven by a strong momentum in its Africa and Middle East unit, which grew 6.2%, and solid results in Europe.

Earnings before interest, taxes, depreciation and amortization after leases, or EBITDAaL, came at EUR12.86 billion in 2019.

The company confirmed it will propose a dividend of EUR0.70 per share for 2020 at its general meeting and that it still expects EBITDAaL to be "flat positive" in 2020

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

February 13, 2020 02:12 ET (07:12 GMT)

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