MEA growth buoys Orange Group

Middle East and African ops help Orange offset decline in France
Stephane Richard said that emerging markets grew by almost 4.5% on average.
Stephane Richard said that emerging markets grew by almost 4.5% on average.

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France Telecom’s Middle East and African operations helped to offset declines in developed markets including France in the third quarter of the year.

The group posted Q3 earnings before EBITDA of EUR4 billion ($5.5 billion) in Q3, a decline of 5.2% from the previous year. Revenue for Q3 fell by about 2.1% year-on-year reach EUR11.3 billion.

But France Telecom Group’s operations in the Middle East and Africa bucked the trend, with revenue growth of 6.1% in Q3, excluding Egypt and Côte d’Ivoire.

Much of this growth was driven by Cameroon, which saw 6.9% revenue growth, and by new operations including Guinea, Uganda and Niger.

Orange’s operation in Egypt, where political instability has hit telecom profits, experienced a 7.4% decline in revenue in Q3.
However, the group’s operation in Ivory Coast, which recently endured a civil war, staged a partial recovery. The operation’s rate of revenue decline slowed in Q3 to -3.5%.

Stéphane Richard, CEO, France Telecom, said: “While the situation remains complex in Egypt, our activities in the other emerging markets grew almost 4.5%. At the same time, we are reinforcing our position in Africa and the Middle East with the recent acquisition of CCT in the Democratic Republic of Congo, Africa’s fourth most populous country.”

Richard added that the group had 221 million at the end of Q3.

 

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