{"id":10884,"date":"2019-03-12T13:32:46","date_gmt":"2019-03-12T13:32:46","guid":{"rendered":"http:\/\/localhost:8080\/?p=10884"},"modified":"2019-03-12T13:32:46","modified_gmt":"2019-03-12T13:32:46","slug":"resultats-financiers-2018-du-groupe-orange","status":"publish","type":"post","link":"https:\/\/dev.cfecgc-orange.app\/index.php\/2019\/03\/12\/resultats-financiers-2018-du-groupe-orange\/","title":{"rendered":"R\u00e9sultats financiers 2018 du Groupe Orange"},"content":{"rendered":"

[French version here\/English version below<\/em>]<\/p>\n

Dans le cadre du Comit\u00e9 de Groupe Europ\u00e9en d’Orange des 26, 27 et 28 f\u00e9vrier 2019 \u00e0 Paris, la Direction du Groupe a inscrit un point \u00e0 l’ordre du jour relatif aux r\u00e9sultats financiers pour l’ann\u00e9e 2018, pr\u00e9sent\u00e9 par Pascal Marchand, Directeur du Contr\u00f4le de Gestion Central Groupe.<\/p>\n

L’exercice 2018 du Groupe Orange est marqu\u00e9 par l’acc\u00e9l\u00e9ration de la croissance du chiffre d’affaires \u00e0 41.4 Mds d’\u20ac (+1.3%), de l’EBITDA ajust\u00e9 (+2.7%) et du Cash-Flow Op\u00e9rationnel (+1.7%) \u00e0 5.6 Mds d’\u20ac, les investissements \u00e9tant en ligne avec l’objectif de 7.4 Mds d’\u20ac pour 2018.<\/p>\n

D’une mani\u00e8re g\u00e9n\u00e9rale, la Direction attribue ces bons r\u00e9sultats \u00e0 la strat\u00e9gie ax\u00e9e sur la convergence et le tr\u00e8s haut d\u00e9bit fixe et mobile qui contribue \u00e0 l’accroissement des bases clients d’Orange, alors m\u00eame que le contexte du secteur demeure tr\u00e8s concurrentiel. On note en particulier un accroissement de 5.5% sur un an du nombre de clients des offres convergentes (10.9 millions fin 2018), permettant au Groupe de conforter sa position de 1er op\u00e9rateur convergent en Europe, mais \u00e9galement de la fibre, en forte croissance en 2018 avec 593 000 ventes nettes en France, 623 000 en Espagne et 152 000 en Pologne, ainsi enfin que de la base clients mobiles qui progresse gr\u00e2ce au 1.29 million de ventes nettes (forfaits et pr\u00e9pay\u00e9s) enregistr\u00e9 sur l’ann\u00e9e.<\/p>\n

En termes de r\u00e9sultats par g\u00e9ographie, la France affiche une seconde ann\u00e9e cons\u00e9cutive de croissance de son chiffre d’affaires, gr\u00e2ce \u00e0 la convergence. Le mobile, avec 111 000 ventes nettes sur les forfaits (hors M2M) et un churn stable autour de 13.8%, maintient une dynamique positive sur les deux marques Orange et Sosh, malgr\u00e9 une l\u00e9g\u00e8re baisse de l’ARPO (Average Rate Per Offer) de 0.18 \u20ac. Quant au haut-d\u00e9bit fixe, il affiche \u00e9galement des performances commerciales tr\u00e8s satisfaisantes en 2018, avec un total de 11.8 millions de foyers raccordables et un total de 2.6 millions de clients sur la seule fibre. Le niveau des investissements, quant \u00e0 lui, atteint 3.7 Mds d’\u20ac sur l’ann\u00e9e, venant en soutien direct des d\u00e9ploiements fibre, mais aussi des sites 4G qui couvrent aujourd’hui 98.6% de la population fran\u00e7aise.<\/p>\n

Sur le march\u00e9 espagnol, le Groupe enregistre une croissance tr\u00e8s soutenue de son chiffre d’affaires (+2.2%) et de l’EBITDA ajust\u00e9 (+8.4%), en particulier gr\u00e2ce \u00e0 la fibre et aux offres TV incluant le football et auquel les clients et prospects sont tr\u00e8s attach\u00e9s. Si l’on observe un tassement (-2.1%) de l’ARPO fixe haut d\u00e9bit seul au 4\u00e8me trimestre 2018, le retour \u00e0 la croissance se confirme avec 19 000 ventes nettes sur ce m\u00eame trimestre, ainsi que pour la base clients TV qui progresse de +14.5% sur un an. La base clients mobile quant \u00e0 elle atteint 16.2 millions de clients, l’ARPO demeurant stable \u00e0 12.3 euros. S’agissant des ventes d’\u00e9quipements, le chiffre d’affaires progresse de 2.3%. Enfin, le niveau d’investissement reste stable, en tr\u00e8s l\u00e9g\u00e8re hausse de 0.4%.<\/p>\n

Sur l’ensemble des g\u00e9ographies europ\u00e9ennes dans lesquelles Orange est pr\u00e9sent (Belgique, Luxembourg, Moldavie, Pologne, Roumanie, Slovaquie), la hausse du chiffre d’affaires atteint 1.7% en 2018, avec une acc\u00e9l\u00e9ration au dernier trimestre, avec une dynamique assez forte sur la convergence qui favorise dans le m\u00eame temps les ventes nettes de contrats mobiles, la base clients mobiles (hors M2M) d\u00e9passant d\u00e9sormais les 19 millions de clients, avec une hausse des contrats forfaits. Le haut d\u00e9bit fixe enregistre une hausse de 10.5% de sa base clients (3.3 millions de clients), tandis que la base clients convergents se hisse \u00e0 1.65 million de clients, soit une hausse de 30.3% sur un an. La Pologne a renou\u00e9, au 3\u00e8me et au 4\u00e8me trimestre, avec la croissance de son chiffre d’affaires, gr\u00e2ce aux services mobiles, \u00e0 la vente d’\u00e9quipements et \u00e0 la revente d’energie (Orange Energia). M\u00eame constat de hausse du chiffre d’affaires en Belgique et au Luxembourg, ainsi que dans les pays d’Europe centrale (+3.2%), les services convergents constituant l\u00e0 encore la clef de la croissance. Enfin, les investissements ont cr\u00fb de 6.1% sur l’ensemble de la g\u00e9ographie europ\u00e9enne du Groupe, alimentant la poursuite du d\u00e9ploiement de la fibre et de la 4G en Pologne et des r\u00e9seaux en Europe Centrale, avec l’am\u00e9lioration de la couverture 4G en Roumanie, ainsi que de la fibre et de la 4G en Slovaquie.<\/p>\n

S’agissant enfin du march\u00e9 Entreprises, le chiffre d’affaires, malgr\u00e9 une croissance de 1.2% au 4\u00e8me trimestre 2018, est demeur\u00e9 stable (-0.2%) sur l’ensemble de l’ann\u00e9e. Les services de Cyberd\u00e9fense et du Cloud soutiennent le d\u00e9veloppement des relais de croissance, affichant des hausses respectives de leur chiffre d’affaires de 12% et de 10%, conduisant le chiffre d’affaires global de l’IT et des services d’int\u00e9gration vers une hausse de 4.8% sur l’ann\u00e9e. Les services traditionnels de voix et donn\u00e9es poursuivent leur recul (-2.4%), malgr\u00e9 une tr\u00e8s l\u00e9g\u00e8re progression des services de donn\u00e9es sur le dernier trimestre 2018 (+0.1%). Le Groupe redouble d’efforts pour remporter des contrats de premier plan, notamment avec Veolia (contrat IoT) ou Enedis (gestion et s\u00e9curisation du WAN), dans le cadre de sa transformation vers les services IT et d’int\u00e9gration. Enfin, sur la p\u00e9riode, les investissements sur ce segment sont en forte r\u00e9duction (-8.3%).<\/p>\n

Face \u00e0 des r\u00e9sultats relativement encourageants, dont se f\u00e9licitent les membres du Comit\u00e9 de Groupe Europ\u00e9en, certaines questions demeurent. Sur l’adoption des nouvelles normes internationales IFRS16, obligatoires pour tous les secteurs et toutes les entreprises depuis le 1er janvier 2019, la Direction rassure sur le fait que, au-del\u00e0 des vocables choisis dans leur communication, les m\u00e9canismes sont les m\u00eames pour l’ensemble des acteurs, et permettra donc les m\u00eames benchmarks que pr\u00e9c\u00e9demment. S’agissant des investissements, le cycle d’Orange est \u00e0 contre-courant de celui des autres op\u00e9rateurs, ceci \u00e9tant propre \u00e0 la vie de chaque entreprise et de sa capacit\u00e9 \u00e0 investir. S’agissant de la stagnation \u00e0 tendance baissi\u00e8re du cours de bourse, la Direction indique que les investisseurs consid\u00e8rent Orange comme une valeur refuge, souhaitant un niveau d’investissement moindre (ce que le Groupe refuse) afin de d\u00e9gager un niveau de dividendes suppl\u00e9mentaire. Enfin, interrog\u00e9 sur l’avenir de ses relations avec l’\u00e9quipementier chinois Huawei, la Direction a pr\u00e9cis\u00e9 qu’aucune d\u00e9cision n’avait \u00e9t\u00e9 prise \u00e0 date sur ce sujet, mais qu’une r\u00e9flexion plus large \u00e9tait en cours au niveau de la Commission Europ\u00e9enne, un mix Ericsson\/Nokia\/Huawei constituant peut-\u00eatre une option.<\/strong><\/p>\n

[English version<\/em>]<\/p>\n

In the framework of the Orange European Works Council held in Paris on 26th, 27th and 28th February 2019, the Group’s Management has included an item on the financial results for the year 2018, presented by Pascal Marchand, Group Central Financial Control Director.<\/p>\n

The Orange Group’s 2018 financial year was marked by the acceleration in revenue growth of \u20ac 41.4 billion (+ 1.3%), adjusted EBITDA (+ 2.7%) and operating cash flow ( + 1.7%) to \u20ac 5.6 billion, with investments in line with the target of \u20ac 7.4 billion for 2018.<\/p>\n

In general, the Management attributes these good results to the strategy focused on convergence and the very fixed and mobile broadband that contributes to the growth of Orange’s customer bases, even though the context of the sector remains very competitive. We note in particular an increase of 5.5% over one year in the number of convergent offer customers (10.9 million at the end of 2018), enabling the Group to consolidate its position as the leading convergent operator in Europe, but also fiber, which is growing strongly in 2018 with 593,000 net sales in France, 623,000 in Spain and 152,000 in Poland, as well as the mobile customer base which is growing thanks to 1.29 million net sales (fixed and prepaid) recorded over the year.<\/p>\n

In terms of results by geography, France posted a second consecutive year of growth in its turnover, thanks to convergence. The mobile, with 111,000 net sales on packages (excluding M2M) and a stable churn around 13.8%, maintains a positive momentum on both brands Orange and Sosh, despite a slight decline in ARPO (Average Rate Per Offer) from 0.18 \u20ac. As for fixed broadband, it also has very satisfactory commercial performance in 2018, with a total of 11.8 million households connectable and a total of 2.6 million customers on the single fiber. The level of investments, meanwhile, reached 3.7 billion euros over the year, coming in direct support of fiber deployments, but also 4G sites that now cover 98.6% of the French population.<\/p>\n

On the Spanish market, the Group recorded very strong growth in revenues (+ 2.2%) and adjusted EBITDA (+ 8.4%), particularly thanks to fiber and TV offerings including football, which customers and prospects are very keen of. If we observe a slowdown (-2.1%) of ARPO fixed broadband alone in the fourth quarter of 2018, the return to growth is confirmed with 19,000 net sales in the same quarter, as well as for the TV customer base which progressed by + 14.5% over one year. The mobile customer base reached 16.2 million customers, ARPO remained stable at 12.3 euros. Equipment sales were up 2.3%. Lastly, the level of investment remains stable, rising slightly by 0.4%.<\/p>\n

Of all the European geographies in which Orange is present (Belgium, Luxembourg, Moldova, Poland, Romania, Slovakia), revenue growth reached 1.7% in 2018, with an acceleration in the last quarter, with quite a dynamic strong on convergence which at the same time favors net sales of mobile contracts, the mobile customer base (excluding M2M) now exceeds 19 million customers, with an increase in fixed-price contracts. Fixed broadband recorded a 10.5% increase in its customer base (3.3 million customers), while the convergent customer base rose to 1.65 million customers, up 30.3% year-on-year. In the third and fourth quarters, Poland returned to growth in sales thanks to mobile services, equipment sales and energy resale (Orange Energia). Sales in Belgium and Luxembourg, as well as in Central Europe (+ 3.2%), were also up, with convergent services again constituting the key to growth. Finally, investments grew by 6.1% across the Group’s European geography, fueling the continued roll-out of fiber and 4G in Poland and networks in Central Europe, with the improvement of 4G coverage in Europe. Romania, as well as fiber and 4G in Slovakia.<\/p>\n

Lastly, with regard to the Enterprise market, revenue, despite growth of 1.2% in the fourth quarter of 2018, remained stable (-0.2%) for the year as a whole. Cyberdefense and cloud services support the development of growth drivers, with respective increases of 12% and 10% in revenues, driving overall IT and integration services revenues to an increase of 4.8% over the year. Traditional voice and data services continued their decline (-2.4%), despite a very slight increase in data services in the last quarter of 2018 (+ 0.1%). The Group is redoubling its efforts to win major contracts, notably with Veolia (IoT contract) and Enedis (WAN management and security), as part of its transformation towards IT and integration services. Lastly, during the period, investments in this segment fell sharply (-8.3%).<\/p>\n

Faced with relatively encouraging results, which are welcomed by the members of the European Works Council, some questions remain. On the adoption of the new IFRS16 international standards, mandatory for all sectors and all companies since January 1, 2019, the Management reassures us that, beyond the words chosen in their communication, the mechanisms are the same for set of actors, and thus allow the same benchmarks as before. Regarding investments, the Orange cycle is against the current of other operators, this being specific to the life of each company and its ability to invest. Regarding the downward stagnation of the share price, the Management indicates that investors consider Orange a safe haven, wishing a lower level of investment (which the Group refuses) in order to generate an additional level of dividends. Finally, questioned on the future of its relations with the Chinese equipment manufacturer Huawei, the Management said that no decision had been taken to date on this subject, but that a broader reflection was underway at the level of the European Commission, an Ericsson \/ Nokia \/ Huawei mix may be an option.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

[French version here\/English version below] Dans le cadre du Comit\u00e9 de Groupe Europ\u00e9en d’Orange des 26, 27 et 28 f\u00e9vrier 2019 \u00e0 Paris, la Direction du Groupe a inscrit un […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[56],"tags":[],"class_list":["post-10884","post","type-post","status-publish","format-standard","hentry","category-economie-et-reglementation-des-telecoms"],"blog_post_layout_featured_media_urls":{"thumbnail":"","full":""},"categories_names":{"56":{"name":"Economie et R\u00e9glementation des T\u00e9l\u00e9coms","link":"https:\/\/dev.cfecgc-orange.app\/index.php\/category\/cit\/entreprise\/economie-et-reglementation-des-telecoms\/"}},"tags_names":[],"comments_number":"0","wpmagazine_modules_featured_media_urls":{"thumbnail":"","cvmm-medium":"","cvmm-medium-plus":"","cvmm-portrait":"","cvmm-medium-square":"","cvmm-large":"","cvmm-small":"","full":""},"_links":{"self":[{"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/posts\/10884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/comments?post=10884"}],"version-history":[{"count":0,"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/posts\/10884\/revisions"}],"wp:attachment":[{"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/media?parent=10884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/categories?post=10884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.cfecgc-orange.app\/index.php\/wp-json\/wp\/v2\/tags?post=10884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}