Orange Africa And Middle East Q3 Interim Revenue Grew By 2.3%

Orange Africa

Orange Africa and Middle East, the second largest mobile carrier in Africa has released its interim Q3 result showing the company grew its revenue across Africa and the Middle East by 2.3%.

Gross revenue rose from EUR1,368 billion in Q3 2016 compared to EUR1,338 billion. Across the group, Orange said its gross revenue grew by 0.3% to EUR10,269 billion. Last year, same quarter, Orange declared EUR10,271 billion.

The company disclosed that earnings before interest, depreciation and amortization. EBITDA rose by 1.0% to EUR3,572 billion compared to EUR3 540 billion.

Orange noted that unaudited figures, subject to adjustments. Main impacts on perimeter concern disposal of Dailymotion, Almérys and Orange Armenia which are totally excluded from 2015 comparable basis, disposal of FIME subsidiaries which are partially excluded from 2015 comparable basis, acquisition of Jazztel and Meditel which are totally included in 2015 comparable basis, and acquisition of Tigo in RDC and of Liberia which are partially included in 2015 comparable basis.

In its 2016 half year result, Orange recorded a net income of EUR3.323 billion euros in the 1st half of 2016, an increase of 2.050 billion euros compared to the 1st half of 2015 mainly related to the sale of EE which occurred in January 2016.

Net income attributable to equity owners of the Group was 3.168 billion euros in the 1st half of 2016, compared with 1.099 billion euros in the 1st half of 2015.

Full result is billed for release for 25th of October, 2016.

MTN is the largest mobile carrier in Africa. Various economic headwinds across Nigeria and the rest of Africa is threatening the company’s profitability. The company is also billed to released its Q3 earnings by October 24, 2016.

 

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