Orange Group has announced its operating and financial results for the first half of 2014.
The company has declared 19.592 billion euros ($26.265b) revenue in this period, a decrease of 3.6% on a comparable basis.
Net income was 891m euros in the first half of 2014 , 318m euros lower than in the first half of 2013, reflecting the pressure on revenues. The Group’s share of net income was 744 million euros in the first half of 2014.
Stéphane Richard, Orange Group Chairman and CEO, said: “These results demonstrate the company’s strength and ability to react in market conditions that continue to be very challenging. We’ve maintained our commercial momentum, despite a hyper-competitive environment, largely due to the investments we’ve made in very high-speed broadband, fibre and 4G. The quality of Orange’s fixed and mobile networks is widely recognised and this has allowed us to differentiate ourselves even more. It is clear that consumers are not just focused on price but are also sensitive to quality and service.”
“Overall, we had a solid commercial performance, particularly in France, Belgium and Poland, while in Africa and the Middle East we had the strongest growth in four years. Meanwhile, we remain focused on lightening Orange’s cost structure, allowing us to stabilise our margin rate in the first half and to confirm our annual targets for 2014. We are continuing our efforts in this area and have increased our target for lowering indirect costs and now aim to achieve a reduction of more than 300 million euros in 2014. My special thanks go to all our employees for their contribution to these results which are very encouraging for the future of our Group,” he added.