Bli medlem
Bli medlem

Du är här


Orange Belgium: First semester 2016 financial information

Key financial and commercial indicators continue to show progress

Orange Belgium now established as a national convergent operator under its new

MVNO revenues secured for the next 3 years

Brussels, 20 July 2016 - Today, Orange Belgium Group (Euronext Brussels: OBEL)
publishes its results for the second quarter and first half of 2016. This
period, and in particular the second quarter of 2016, was a pivotal moment
for the company with the successful nationwide launch of the Orange internet
+ TV offer in Belgium and the rebranding of Mobistar into Orange Belgium. The
Orange Belgium Group continued on its growth path with all key financial
(mobile service revenues, restated EBITDA and net financial debt) and
commercial indicators (postpaid ARPU and postpaid and cable customer base),
showing progress in the first half of 2016.

* On May 10, 2016, Mobistar was successfully rebranded into Orange Belgium,
whose mission is to connect everyone to what is essential to them, making
everyone's life a unique experience, every day. The rebranding into Orange
Belgium, combined with the launch of convergent offers, also reinforces the
position of Orange Belgium in the business segment by underpinning the
international strength of the Orange-portfolio.
* Following the unveiling of the Orange internet + TV offering in March 2016,
Orange Belgium commercially started offering its product nationwide as of
mid-May and became the first operator with access to the cable network at a
national scale in Belgium. At the end of June, Orange Belgium already stood
at 10.5 thousand households on its Orange internet + TV offering that on
average have 2 SIM-cards. Though in this first phase of the commercial
launch existing customers remained the primary target, the uptake of new
convergent subscriptions is already exceeding initial expectations. Orange
Belgium now aims at attracting an increasing number of customers every
quarter by communicating more specifically on the benefits of its
convergent offers and progressively through a commercialization in all
distribution channels.
* Orange Belgium's retail customer base development continued throughout the
second quarter of 2016, reaching 3.8 million customers. This was partly due
to the positive evolution of the postpaid customer base, which added 17.8
thousand customers, predominantly 4G smartphone users. In addition to the
increasing postpaid customer base, Orange Belgium also increased its
postpaid ARPU to 28.8 euros in the second quarter of 2016, from 27.9 euros
a year ago, an increase of 3.4 % year-on-year. Both metrics have increased
for the fifth quarter in a row.
* In the first half of 2016, the Orange Belgium Group generated mobile
service revenues of 504.5 million euros, a solid increase of 1.9 % compared
with the same period last year (i.e. +3.2 % excl. EU roaming regulation):
the rapid adoption of 4G data usage and the solid increase of both the
postpaid customer base and ARPU contributed substantially to this positive
development and fully offset the negative impact of the new Roaming IV
* The restated EBITDA increased by 2.0 % year-on-year to 144.9 million euros
in the first half of 2016 as a result of both the positive trend of the top
line and sustained focus on cost optimisation. Overall, it has to be noted
that the reversal of the 2015 Walloon pylon tax recently ruled
unconstitutional contributed to mitigate for the negative impact of EU
roaming, commercial launch of cable, increase in operational taxes and
other one-off costs related to the rebranding in the second quarter of
* The organic cash flow in the first half of 2016 increased 4.8 %
year-on-year, compared to the first half of 2015, with net investments over
the period coming down 10.3 % compared to the same period last year. As a
consequence, the net financial debt at the end of the first half of 2016
was reduced down to 369.9 million euros, compared to 499.8 million euros a
year ago, a decrease of 26.0 % year-on-year. This translates into a net
financial debt/EBITDA ratio of 1.1x at the end of June 2016, compared to
1.9x a year ago.
* The Orange Belgium Group revised its restated EBITDA guidance for the year
2016 to between 285 and 305 million euros from between 270 and 290 million
euros, both excluding cable costs. This revised guidance corresponds to the
reversal of provision related to the Walloon pylon tax for the year 2015.
* Orange Belgium and Telenet agreed upon the terms and conditions for the
termination of the full MVNO, contract initially signed in 2012, by which
Telenet committed to a minimum payment of 150.0 million euros (excluding
VAT) over the 3-year period 2016-2018. The actual amount paid by Telenet
could however exceed this minimum amount in case of higher network usage.
Beyond 2018, an optional 6-month extension period has been granted for a
minimum payment of 15.0 million euros (excluding VAT).

Orange Belgium Investor Relations

For the full PDF version, please click here below:

H1 2016 results - NL
H1 2016 results - UK
H1 2016 results - FR


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Orange Belgium via Globenewswire


Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.