The Middle East and North Africa continued to be a bright spot in Orange Group’s financials posting a 12% increase in revenue as 10 markets recorded double-digit growth for the operator.
Revenue for Q3 2023, stood at €10.9 billion an increase of 1.8% (€194m) year-on-year. Growth in revenue was driven by the retail services division with a 3.8% increase (€304m). Orange noted this growth offset the double digit decline of revenues in wholesale services which continued to decrease, as it dipped 6.7% (€123m) in Q3.
Africa and the Middle East continued to post double-digit growth at a rate of 12.2% in the quarter due to four segments: 17.8% for mobile data, 17.0% for fixed broadband, 28.2% for Orange Money and 20.3% for B2B across the board.
Revenue in its home market France was flat with a 0.5% dip and Europe as a whole saw revenues from retail services grow 2.3%, driven by price increases in 2022.
EBITDAaL grew slightly by 1.4% in Q3 which was inline with targets, noted the French operator group. Capex was €1.59 billion a reduction of 7% year-on-year.
As of September 30, Orange recorded 70 million FTTH connections globally which is up by 11.9% year-on-year and an FTTH customer base of 15.0 million (+13.5%).
Orange Group CEO Christel Heydemann said: “Africa and the Middle East continue their excellent performance driving the Group’s growth, with revenues increasing by over 12% and ten countries recording double-digit growth.”