Orange 1st Half Net Profit Fell; Confirms 2020 Targets
July 30 2020 - 2:22AM
Dow Jones News
By Adria Calatayud
French telecommunications company Orange SA said Thursday that
net profit fell for the first half and said it doesn't foresee any
significant deviation with respect to its 2020 targets despite the
coronavirus pandemic.
The Paris-based company said net profit for the first six months
of the year was 927 million euros ($1.09 billion) compared with
EUR1.04 billion in the year earlier period.
Orange's revenue for the first half rose 0.3% to EUR20.77
billion, against analysts' expectations of EUR20.61 billion,
according to a consensus estimate provided by the company.
Earnings before interest, taxes, depreciation and amortization
after leases for the first half declined 0.8% to EUR5.92 billion,
Orange said. Analysts expected Ebitda after leases of EUR5.92
billion, according to a company-provided consensus.
In the second quarter, Ebitda after leases fell 1.8% to EUR3.31
billion, on revenue that was 0.4% lower at EUR10.38 billion, the
company said.
Orange also confirmed its financial objectives for the 2021-2023
period.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 30, 2020 02:07 ET (06:07 GMT)
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