Orange Belgium

Continued commercial performance and strong EBITDAaL growth, thanks to the successful operational integration of VOO

Press release
Embargo until 7 February 2025 at 7:00 am
 Regulated information – Inside information

Financial information for the second semester and full year 2024

Continued commercial performance and strong EBITDAaL growth, thanks to the successful operational integration of VOO

1. eCapex excluding licence fees
2. Adjusted Operating cash flow defined as EBITDAaL – eCapex excluding licence fees  

Xavier Pichon, Chief Executive Officer, commented:

We are thrilled to share the full results of 2024, reflecting our unwavering commitment to providing the best telecom offers on the Belgian market. Our recent initiatives, including our Netflix partnership and the launch of our new portfolios, have been warmly received by our customers. These efforts underscore our dedication to enhancing the customer experience and staying ahead in a competitive market.

As we look ahead, we are focused on leveraging our combined strengths and we will continue to adapt to new market realities. Our Lead the Future strategy is more than ever the key for future success. We are committed to providing superior technology, including unmatched fixed and mobile connectivity, advancements in 5G, cybersecurity, while ensuring a seamless customer experience through agile go-to-market strategies and an innovative portfolio. Sustainability remains integral to our business model, with a focus on digital inclusion and striving for net-zero carbon operations. By fostering a culture of competence and talent, and maintaining financial excellence, we are confident in our ability to innovate and lead in this dynamic environment.

Antoine Chouc, Chief Financial Officer, stated:

Our financial results for 2024 demonstrate our robust performance and strategic execution in a competitive market environment. Our focus on operational efficiency, synergies delivery and strategic investments has enabled us to achieve solid financial outcomes.

Our revenue for the year reached almost 2 billion euros, reflecting a year-over-year growth of 1.7% driven by the retail service revenues growth (+3.1% year-on-year).

We posted an outstanding 10.1% EBITDAaL growth for 2024 and exceeded our initial guidance. This performance was made possible thanks to an overachievement of our synergies ambitions following the acquisition of VOO demonstrating our success in integrating both companies. These synergies are crucial for maintaining our competitive edge and ensuring long-term sustainability.

eCapex totalled €368 million, reflecting our continued investment in superior technology. We are on track with the implementation of the RAN sharing program. We pursued the modernization of the HFC network to have Gigabit coverage, especially in rural areas thanks to subsidies and we started our FTTH journey.

2024 dividend

The Orange Belgium Group aims to balance the appropriate cash returns to equity holders maintaining a balanced and sound financial position, while leaving sufficient leeway to continue to invest in its convergent strategy, the expansion of its network and other growth opportunities. Orange Belgium’s Board of Directors will not propose a dividend for the financial year 2024 to preserve cash for future capital requirements.

2025 outlook

The Company targets an EBITDAaL between €545m and €565m. Total eCapex in 2025 is expected to be between €365m and €385m.

New Financial Calendar

7 May                     Annual General Meeting of Shareholders
3 July                     Start of quiet period
24 July                   Financial results H1 2025 (7:00 am CET) – Press release
24 July                   Financial results H1 2025 (10:00 am CET) – Audio conference call

This is a preliminary agenda and is subject to changes

Attachment

• PR H2 2024 EN