PARIS (Reuters) – Orange, France’s biggest telecoms operator, said its third-quarter core operating profits edged up by 0.2% on a comparable basis from a year earlier, driven notably by its cost saving plan and an unexpected return to growth in Spain.
Earnings before interest, tax, depreciation and amortisation after leases (EBITDAaL) amounted to 3.58 billion euros ($3.5 billion). This was in-line with the 3.586 billion-euro average of 16 analyst estimates compiled by the company.
The group confirmed its full-year targets, including a growth in core operating profits between 2.5% and 3%.
Sales in Spain, Orange’s second-biggest market, returned to growth for the first time since the first quarter of 2019, gaining 0.2% in the third quarter. This came in contrast with analysts’ expectations of a fall of 2.8% over the period.
($1 = 1.0129 euros)
(Reporting by Mathieu Rosemain; Editing by Sudip Kar-Gupta)
