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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Altice Europe N.V.    ATC   NL0011333752

ALTICE EUROPE N.V.

(ATC)
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Orange's shares fall following cut in guidance, uncertainty on dividend

07/30/2020 | 03:03am EST
FILE PHOTO: The logo of French telecoms operator Orange in a retail store in Bordeaux

Leading French telecoms group Orange cut its core operating profit guidance and failed to provide a definitive update on its full-year dividend policy on Thursday, sending its shares lower.

The Paris-based group, whose second-quarter core operating profit was in line with market expectations, now sees full-year core operating profits falling by 1%. It had previously expected it to be what it had termed "flat positive".

Orange, which cut its 2019 dividend by 30% to 50 cents per share, said it would tell investors if it is able to go back to the 70 cents per share level for 2020 by the end of the year.

The company's stock was down by 3.1 percent at 0800 GMT, making the second-worst performer in the France's benchmark stock index CAC 40.

Chief Executive Stéphane Richard attempted to ease analysts' concerns on the dividend.

"What we expect by the end of the year makes me very confident in our capacity to be back to 70 cents of dividend for this year, 2020," he said on an earnings call, adding that the group would inform markets in November or December.

The company's overall second-quarter sales dropped 0.4% to 10.4 billion euros (9.43 billion pounds), while core operating profits over the period were down by 1.8% as COVID-triggered lockdowns in Europe drove costs higher and led to a loss in lucrative roaming fees.

The telecoms industry has weathered the economic impact of the virus better than other sectors as people relied on their communications infrastructure to work from home during lockdowns, as well as playing video games and watching videos online for entertainment.

Sales in France grew by 2.7% from a year earlier, beating market expectations, in contrast with Spain, which expected a worst-than-feared 6.8% sales decline on fierce competition in the country.

By Mathieu Rosemain


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALTICE EUROPE N.V. 0.96% 4.5 Delayed Quote.-22.46%
BOUYGUES 0.90% 33.78 Real-time Quote.-11.62%
CAC 40 0.56% 5598.18 Real-time Quote.-6.88%
ILIAD S.A. 0.87% 173.6 Real-time Quote.48.94%
ORANGE 1.47% 10.69 Real-time Quote.-19.70%
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11/25ALTICE EUROPE N : International - Q3 2020 Consolidated Financial Statements
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11/23Altice, Korn Ferry rise; Newmont, Twist Bioscience fall
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11/23ALTICE EUROPE N : France - Q3 2020 Consolidated Financial Statements
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11/19Iliad is open to a mobile network-sharing deal with Orange, CEO says
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11/19ALTICE EUROPE N : Nv - q3 2020 md&a
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11/19ALTICE EUROPE N : NV - Q3 2020 Consolidated Financial Statements
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More news
Financials
Sales 2020 14 939 M 17 868 M 17 868 M
Net income 2020 -264 M -315 M -315 M
Net Debt 2020 31 511 M 37 689 M 37 689 M
P/E ratio 2020 -21,5x
Yield 2020 -
Capitalization 5 384 M 6 437 M 6 440 M
EV / Sales 2020 2,47x
EV / Sales 2021 2,35x
Nbr of Employees 45 409
Free-Float 45,3%
Chart ALTICE EUROPE N.V.
Duration : Period :
Altice Europe N.V. Technical Analysis Chart | ATC | NL0011333752 | MarketScreener
Technical analysis trends ALTICE EUROPE N.V.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 5,52 €
Last Close Price 4,50 €
Spread / Highest target 256%
Spread / Average Target 22,7%
Spread / Lowest Target -11,1%
EPS Revisions
Managers
NameTitle
Alain Phillippe Romain Weill Chief Executive Officer & Executive Director
Patrick Drahi President & Executive Director
Jurgen van Breukelen Chairman
Armando Pereira Chief Operating Officer
Malo Pascal Jean-Pierre Corbin Chief Financial Officer
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