Orange Group Reports Steady Q3 Growth Amid Olympic Connectivity Role
Orange Group reported a 1.6% increase in revenue in Q3 2024, driven by its Africa and Middle East division, despite a overall decline in European wholesale performance. CEO Christel Heydemann emphasized the company’s role in connecting the Paris 2024 Olympic Games as a point of pride, while highlighting significant growth in retail services across various regions.
In Q3 2024, Orange Group CEO Christel Heydemann highlighted the company’s contributions to connectivity during the upcoming Paris 2024 Olympic Games, calling it a significant achievement. Despite this proud moment, the impact of the Olympics on the company’s finances appears minimal, with a year-on-year revenue increase of 1.6 percent, totaling nearly €10 billion. This growth was primarily attributed to the retail sector within its Africa and Middle East division, though the wholesale sector experienced a decline. In its home market of France, the revenue climbed by 1.3 percent, driven by retail sales, while the overall performance in Europe decreased by 2.1 percent due to challenges in the wholesale segment. Furthermore, Orange’s business revenue also fell by 2.6 percent, largely due to a downturn in fixed services. Conversely, the Africa and Middle East region displayed remarkable success, with a revenue surge of 10.5 percent attributed to solid performance in voice services, mobile data, fixed-broadband, Orange Money, and B2B transactions. Heydemann remarked on the essential role that Orange plays in fostering economic development within Africa, recognizing it as a mutually beneficial relationship. The company concluded the quarter with 9.1 million convergent customers, maintaining stability, and an 8.5 percent increase in mobile accesses, totaling 253 million. Heydemann stated, “The strong third-quarter results demonstrate the soundness of our strategy, the great competence of our teams and the role we can play as our customers’ trusted operator.”
The article discusses the performance of Orange Group during the third quarter of 2024, focusing on the company’s revenue growth and regional performance. With the Paris 2024 Olympic Games on the horizon, CEO Christel Heydemann emphasized the company’s achievements in providing connectivity for the event, underscoring the significance of this role. Despite modest overall revenue growth, the Africa and Middle East division stood out as a key driver of success, showcasing the importance of retail services and regional development.
In summary, Orange Group has showcased a commendable performance in Q3 2024, largely attributed to its efforts in the Africa and Middle East markets. While the Paris 2024 Olympic Games represented a noteworthy milestone for the company, the overall financial impact remains limited. Nevertheless, the company’s strategy appears sound, as reflected in the modest revenue growth and a stable customer base, aligned with maintaining its reputation as a trusted operator among its clientele.
Original Source: www.mobileworldlive.com
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