Embargo until October 21, 2021 at 7:00 a.m.
Regulated information – Inside information
Financial information for the third quarter of 2021 and the first nine months of 2021
Solid EBITDAaL growth thanks to strong mobile sales momentum
and ongoing cost management
- Postpaid mobile customer base + 3.9% year-on-year / Cable customer base + 25.5% year-on-year
- Q3 revenue + 3.3% year-on-year / Q3 retail services revenue +4.8% year-on-year
- EBITDAaL Q3 + 8.1% year-on-year (YTD ’21: + 8.5%)
|Third Quarter Operational Highlights||
|Orange Belgium: key operating figures|
|Q3 2020||Q3 2021||cash|
|Mobile postpaid customer base (in ‘000)||2,615||2,718||3.9%|
|Net additions (in ‘000)||21||37||75.8%|
|ARPO postpaid mobile only (â¬ per month)||20.5||20.5||-0.3%|
|Cable customers (in thousands)||305||382||25.5%|
|Net additions (in ‘000)||17||17||-1.1%|
|ARPO converge B2C (â¬ per month)||75.4||73.1||-3.1%|
|Third Quarter Financial Highlights||
|Orange Belgium Group: key financial figures|
|in â¬ m||Q3 2020||Q3 2021||cash||9M 2020||9M 2021||cash|
|Retail services revenues||230.6||241.7||4.8%||676.4||702.5||3.9%|
|margin as% of sales||26.7%||27.9%||126 bp||24.4%||25.7%||129 bp|
|Operating cash flow2||47.5||56.5||18.9%||130.7||136.3||4.3%|
|Net financial debt||135.3||63.3||135.3||63.3|
- eCapex excluding license fees. In the first and third quarters of 2021, Orange Belgium paid â¬ 10.9 million in royalties each quarter.
- Operating cash flow defined as EBITDAaL – eCapex excluding license fees
Xavier Pichon, Chief Executive Officer, said:
Orange Belgium maintained a strong commercial performance in the third quarter, supported by recent improvements in the Go portfolio and the continued growth of our convergence offerings.
In addition, Orange Belgium continues to differentiate itself in the market while expanding the range of value propositions to meet the constantly evolving needs of customers.
We have successfully launched Orange TV Lite, allowing customers to stream OTT, without having to pay a full TV subscription or needing a set-top box and Hey! our new 100% digital brand, targeting ultra-connected customers leading a fully digital life.
Antoine Chouc, Chief Financial Officer, said:
Our positive business results also generated a corresponding financial performance. Our revenues increased 3.3% year over year, primarily driven by higher revenues from retail services as well as growth in wholesale revenues.
The combination of increased revenues from retail services and continued cost management resulted in exceptional EBITDA for this quarter. Regarding eCapex, we anticipate a catch-up in the last quarter of the year.
Given these results and the improvement in the health environment, we expect to slightly exceed our EBITDAaL guidance. The revenue and eCapex forecasts remain unchanged.