Sustained operational and financial performance in a still active competitive environment

Sustained operational and financial performance in a still active competitive environment

• Mobile postpaid customer base +3.4% yoy / Cable customer base +27.0% yoy
• Q2 Revenues +7.5% yoy / Q2 Retail service revenues +4.9% yoy
• Q2 EBITDAaL +5.9% yoy (H1’21: +8.8%)

1. eCapex excluding licence fees. In Q1 2021 Orange Belgium paid 10.9 million euros on licence fees.
2. Operating cash flow defined as EBITDAaL – eCapex excluding licence fees
   

Xavier Pichon, Chief Executive Officer, commented:

Once again, we can look back at a quarter with solid results and strong commercial performance. We continued to prove that our Go portfolio remains competitive. We even improved our offer by increasing the data bundle of our Go Plus subscription. Although the competition was very active over the quarter, we were able to achieve solid net adds, both on mobile and convergence.

Furthermore, we demonstrated that we continue to be an innovative player, working on the company’s long-term competitive positioning. We announced that we will invest in the deployment of open passive "fiber-to-the-premise” pilots in Brussels, which will help us enrich our experience and to define our future positioning on multi-gigabit fixed broadband.

As many of us, I have been deeply moved by the floods that have impacted so many people in the country. Our teams and technical partners have put all their efforts to maintain and restore connectivity in the affected areas. My thoughts are with everyone impacted, including our customers, team members and their families.

Antoine Chouc, Chief Financial Officer, stated:

During the second quarter of this year, we managed to achieve total revenue growth of 7.5% compared to last year. The quarter was less impacted by the Covid-19 measures than last year, as shops were open and roaming as well as SMS traffic started to increase again.

Our retail service revenues also posted a steady growth of almost 5% compared to the second quarter of last year, boosted by the increase in our convergence service revenues. This evolution confirms the robustness of our growth. This "growth” combined with sustained cost management, resulted in an increase in EBITDAaL of almost 6%.

Taking into account these results, we are cautiously optimistic and reconfirm our guidance.

Attachment

• ENG OBEL_ER_Q2 2021 VF