Mubasher: France's Orange on Wednesday posted an increase in its sales for 2017, backed by improvements in Europe, the company said.
The company logged EUR 41.09 billion ($50.78 billion) in sales last year, up from EUR 40.92 billion the year before. Despite the slight rise, net profits dropped 35% year-on-year to EUR 1.91 billion.
The company attributed the profit fall to a high comparison base in 2016 following the disposal of its stake in British mobile operator EE.
A return to growth in Orange's home country France added to rises in Spain were the main reasons behind the improved sales.
Meanwhile, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew to EUR 12.82 billion in 2017 from EUR12.68 billion in 2016.
The figures came in higher than profit forecasts EUR 12.79 billion provided by FactSet.
Orange also announced dividend of EUR 0.65 per share for 2017, noting that it will propose a dividend payment of EUR 0.70 a share for 2018.
As for its outlook for 2018, Orange expects growth in adjusted Ebitda and operating cash flow in 2019 and 2020.
