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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BT Group plc    BT.A   GB0030913577

BT GROUP PLC

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Orange's fibre deals help offset COVID hit in third-quarter

10/29/2020 | 02:46am EST
FILE PHOTO:  The logo of French telecoms operator Orange is pictured in a retail store in Bordeaux

PARIS (Reuters) - Deals to open up Orange fibre network to rivals helped France's biggest telecoms operator offset the financial hit from the coronavirus crisis in the third quarter.

The agreements with competitors Iliad and Bouygues lifted Orange's quarterly sales in France by 3.1% year-on-year, the company said on Thursday.

That helped to limit a decline in Orange's quarterly core operating profit - which came in at 3.58 billion euros (3.3 billion pounds) - to 0.4%. Analysts had forecast a decline of 0.6%, according to the average forecast of 19 compiled by the company.

Quarterly group sales rose 0.8% to 10.6 billion euros, also beating the mean forecast.

Since 2009, Orange has received 2.4 billion euros in proceeds from so-called co-financing deals with rivals for its fibre network in France, it said.

However, the impact of the coronavirus crisis slashed nearly 150 million euros from core operating profit in the third quarter, as Orange received fewer lucrative roaming fees from summer travellers.

"The summer quarters are very, very big quarters for roaming, since you have all the travellers ... especially for Orange where you have countries of destination in the south, such as France and Spain," Chief Financial Officer Ramon Fernandez said in a call with reporters.

He said the impact would be significantly less important in the fourth quarter.

Orange confirmed its full-year targets, including an expected drop of around 1% in core profit. It will increase its interim dividend by 10 euro cents to 40 cents and pledged to return to a dividend of 0.70 euro per share for 2020.

British rival BT Group nudged up its earnings guidance on Thursday, while Spain's Telefonica posted a quarterly net loss due to an impairment charge in Argentina.

(Reporting by Mathieu Rosemain; Editing by Sherry Jacob-Phillips and Mark Potter)

By Mathieu Rosemain


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BOUYGUES -1.65% 34.5 Real-time Quote.4.25%
BT GROUP PLC -1.52% 136 Delayed Quote.4.42%
EURO / ARGENTINE PESO (EUR/ARS) 0.42% 105.0453 Delayed Quote.1.87%
ILIAD S.A. -0.63% 156.65 Real-time Quote.-6.22%
ORANGE -1.04% 9.562 Real-time Quote.-0.74%
TELEFONICA S.A. -2.57% 3.675 Delayed Quote.16.24%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.09% 86.42 Delayed Quote.2.52%
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Financials
Sales 2021 21 426 M 29 409 M 29 409 M
Net income 2021 1 479 M 2 030 M 2 030 M
Net Debt 2021 18 689 M 25 652 M 25 652 M
P/E ratio 2021 9,37x
Yield 2021 -
Capitalization 13 592 M 18 541 M 18 656 M
EV / Sales 2021 1,51x
EV / Sales 2022 1,51x
Nbr of Employees 105 300
Free-Float 86,2%
Chart BT GROUP PLC
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Technical analysis trends BT GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 163,38 GBX
Last Close Price 138,10 GBX
Spread / Highest target 113%
Spread / Average Target 18,3%
Spread / Lowest Target -45,7%
EPS Revisions
Managers and Directors
NameTitle
Philip Eric Rene Jansen Chief Executive Officer & Executive Director
Jan Petrus du Plessis Chairman
Simon Jonathan Lowth Chief Financial Officer & Executive Officer
Howard Watson Chief Technology & Information Officer
Iain C. Conn Senior Independent Director
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