Embargo until April 24, 2019 at 7:00 am
Financial information for the first quarter of 2019
Solid commercial momentum drives strong growth in retail service revenues
- Mobile postpaid net-adds: + 21k / +53.6% yoy
- Convergence net-adds: +20k / +5.8% yoy
- Revenues: +3.8% yoy / Retail service revenues:+13.5% yoy
- EBITDAaL -3.8% yoy (+14% excluding impact of MVNO revenues)
Q1'19 Belgium operating highlights
- Commercial momentum in mobile postpaid remains solid. The mobile postpaid customer base grew by 21k (+6.9% yoy) to 2.5m subscribers. New customers are increasingly opting for higher tariff plans.
- Convergence net-adds confirms attractiveness of offering. The Love offer remains the best value broadband and TV package in the market. Orange Belgium added 20k subscribers and reached a milestone of 200k Love customers (+64.4% yoy). The convergent mobile subscriber base represents 12.7% of mobile postpaid customers.
- B2C convergent ARPO continued to grow strongly while mobile-only ARPO contracted slightly. B2C convergent ARPO increased 7.7% yoy to €77.4 thanks to the absence of price promotions, revenue from connection fees and the take-up of the fixed line option. Mobile-only postpaid ARPO was 1.1% lighter yoy as growing access revenues did not fully compensate decreasing out-of-bundle revenues.
Orange Belgium: key operating figures
|Q1 2018||Q1 2019||change|
|Mobile postpaid customer base (in '000)||2,329||2,490||6.9%|
|Net adds qoq (in '000)||14||21||53.6%|
|Mobile only postpaid ARPO (€ per month)||21.1||20.8||-1.1%|
|Convergent customer base (in '000)||122||200||64.4%|
|Net adds qoq (in '000)||19||20||5.8%|
|B2C convergent ARPO (€ per month)||71.8||77.4||7.7%|
|Convergent mobile customer as % mobile contract customer base||8.0%||12.7%||471 bp|
Q1'19 consolidated financial highlights
- Revenues increased 3.8% yoy to €318.2m. Retail service revenues continued its growth trajectory (+13.5% yoy). Convergence services (+83.4% yoy) and mobile only services (+3.0% yoy) were again the main growth drivers. The loss in MVNO revenues represents €12.1m.
- EBITDAaL was impacted by the loss of Telenet MVNO revenues. EBITDAaL decreased 3.8% yoy against Q1'18 to €58m. Excluding the MVNO impact, EBITDAaL would have increased 14% yoy due to higher revenues and control of direct costs. Once again, Orange Belgium narrowed the cable operations' EBITDA loss to €1.1m this quarter against a €5.9m loss in Q1'18.
- 2019 financial guidance confirmed. Orange Belgium expects slight revenue growth, EBITDAaL of €285m-€305m and stable eCapex.
Orange Belgium Group: key financial figures
|(in €m)||Q1 2018||Q1 2018||Q1 2019||change||change|
|Retail service revenues||181.3||205.7||13.5%|
|Operating cash flow1||28.5||21.1||-25.9%|
|Operating cash flow2||28.8|
|Net financial debt||295.5||252.1|
1 Operating cash flow defined as EBITDAaL - eCapex
2 Operating cash flow defined as Adjusted EBITDA -Capex
- OBEL_ER_2019 Q1 ENG FINAL (https://ml-eu.globenewswire.com/Resource/Download/8262e3f9-c350-4af8-9041-4aee98b77f80)