By Mathieu Rosemain<\/a><\/strong>
PARIS: Orange<\/a>, France<\/a>'s biggest telecoms operator<\/a>, said third-quarter core operating profit dropped by 0.7% from a year earlier, as sales from lucrative co-investment deals in its home country retreated.
Earnings before interest, taxes, depreciation and amortisation after leases (EBITDAaL) fell to 3.55 billion euros ($4.13 billion), despite a rise in its number of customers in France<\/a> and Spain, its two biggest markets.
This matched the average forecast in a company-compiled poll. Sales over the period fell by 0.4% to 10.5 billion euros.
Orange<\/a> has signed deals with French rivals to help it deploy mobile and broadband networks, adding a new stream of revenue to the group's regular sale of mobile and broadband contracts.
The lower return from these deals quasi-exclusively explains the 4.1% drop in sales in France, Chief Financial Officer Ramon Fernandez<\/a> told reporters in a call.
Out of the 190 million euros drop in French sales, 180 million were due to the fall in co-investment deals, he said.
Over the July to September period, Orange managed to add 121,000 customers for its mobile business in France, and also 80,000 new broadband customers.
Orange confirmed its full-year targets, including for a slight decline in core operating profit and an underlying cash flow from telecom activities of over 2.2 billion euros.
It also confirmed its targets for 2023, which include underlying cash flow from telecom activities of 3.5-4.0 billion euros.
<\/body>","next_sibling":[{"msid":87271754,"title":"Space body seeks subsidy for satellite broadband services","entity_type":"ARTICLE","link":"\/news\/space-body-seeks-subsidy-for-satellite-broadband-services\/87271754","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":87272415,"entity_type":"ARTICLE","title":"Orange's quarterly profits stumble on lower co-investment deals","synopsis":"Earnings before interest, taxes, depreciation and amortisation after leases (EBITDAaL) fell to 3.55 billion euros ($4.13 billion), despite a rise in its number of customers in France and Spain, its two biggest markets.","titleseo":"telecomnews\/oranges-quarterly-profits-stumble-on-lower-co-investment-deals","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"Reuters","artdate":"2021-10-26 11:45:13","lastupd":"2021-10-26 11:52:02","breadcrumbTags":["orange","france","telecoms operator","ramon fernandez","mathieu rosemain","industry"],"secinfo":{"seolocation":"telecomnews\/oranges-quarterly-profits-stumble-on-lower-co-investment-deals"}}" data-news_link="//www.iser-br.com/news/oranges-quarterly-profits-stumble-on-lower-co-investment-deals/87272415">