Orange delegate CEO Ramon Fernandez noted Spain remained the operator’s most challenging market in Q1, but indicated merger discussions with Masmovil remained on track to deliver a deal by mid-2023.
Revenue in Spain fell 4.6 per cent year-on-year, although Orange pointed out retail services continued to improve sequentially. Revenue in France, its largest market, was flat at €4.4 billion primarily due to a 6.6 per cent decline in wholesale services.
Group revenue was flat at €10.6 billion owing to an 8.7 per cent rise in Africa and the Middle East.
Capex fell 5.8 per cent to €1.6 billion.
On an earnings call, Fernandez also said some changes should be expected on Europe’s mobile towers market in 2022, without providing details.
He indicated Orange’s tower company Totem intends to incorporate its assets in other European markets in addition to France and Spain, with a team currently working on an integration project spanning three countries.
She said she and her team are currently working on Orange’s future vision “and we will communicate it to you in due time”.
In a statement, she said the Q1 results “demonstrate our ability to grow in a tough environment and also represent a strong foundation not only for the rest of 2022, but also for the longer term”.Subscribe to our daily newsletter Back