Cash flow Orange

Equities

ORA

FR0000133308

Integrated Telecommunications Services

Market Closed - Euronext Paris Other stock markets 16:35:04 17/09/2024 BST			After market 17:46:37
10.84 ^EUR	-0.60%		10.80	-0.32%

09-12	Ericsson to Form Network API JV with Deutsche Telekom, Others	MT
09-12	Ericsson and Telecom Operators Join Forces in New Digital Services Venture	DJ

89c3d6213fc9db2545bebfc84bf20.3CSBZ0_Qb5G19ROD5V4S7Qve6TZPXrwc92kMLk74pRA.rhbsKRyUVsHlvGfwrwhDtEyIvgMiNOpIozFUQwmQlVOUfMsOArxd5YKAQg

Published financial data: ORANGE

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	42.24B	42.27B	42.52B	43.47B	44.12B
Total Revenues	42.24B	42.27B	42.52B	43.47B	44.12B
Cost of Goods Sold, Total	25.3B	25.29B	26.96B	26.71B	27.44B
Gross Profit	16.94B	16.98B	15.56B	16.76B	16.68B
Selling General & Admin Expenses, Total	1.09B	887M	930M	938M	895M
Depreciation & Amortization - (IS)	8.35B	8.52B	8.56B	8.54B	8.83B
Other Operating Expenses	1.88B	1.87B	1.59B	1.44B	1.26B
Other Operating Expenses, Total	11.32B	11.28B	11.08B	10.92B	10.99B
Operating Income	5.62B	5.7B	4.49B	5.84B	5.68B
Interest Expense, Total	-1.38B	-1.27B	-1.14B	-1.17B	-1.42B
Net Interest Expenses	-1.38B	-1.27B	-1.14B	-1.17B	-1.42B
Income (Loss) On Equity Invest.	8M	-2M	3M	-2M	-29M
Currency Exchange Gains (Loss)	72M	-84M	45M	-120M	-50M
Other Non Operating Income (Expenses)	165M	62M	295M	349M	251M
EBT, Excl. Unusual Items	4.48B	4.4B	3.69B	4.9B	4.43B
Restructuring Charges	-132M	-25M	-331M	-125M	-456M
Merger & Related Restructuring Charges	-17M	-18M	-14M	-40M	-28M
Impairment of Goodwill	-54M	-	-3.7B	-817M	-
Gain (Loss) On Sale Of Investments	-133M	-55M	-84M	-107M	-129M
Gain (Loss) On Sale Of Assets	592M	228M	2.51B	233M	90M
Asset Writedown	40M	-87M	-108M	-110M	-116M
Legal Settlements	-107M	-238M	-218M	-50M	-41M
Other Unusual Items	-	-	-	-	11M
EBT, Incl. Unusual Items	4.67B	4.21B	1.74B	3.88B	3.76B
Income Tax Expense	1.45B	-848M	962M	1.26B	871M
Earnings From Continuing Operations	3.23B	5.06B	778M	2.62B	2.89B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	3.23B	5.06B	778M	2.62B	2.89B
Minority Interest	-220M	-233M	-545M	-471M	-451M
Net Income - (IS)	3.01B	4.82B	233M	2.15B	2.44B
Preferred Dividend and Other Adjustments	268M	255M	225M	200M	175M
Net Income to Common Incl Extra Items	2.74B	4.57B	8M	1.95B	2.26B
Net Income to Common Excl. Extra Items	2.74B	4.57B	8M	1.95B	2.26B
Per Share Items
Net EPS - Basic	1.03	1.72	0	0.73	0.85
Basic EPS - Continuing Operations	1.03	1.72	0	0.73	0.85
Basic Weighted Average Shares Outstanding	2.65B	2.66B	2.66B	2.66B	2.66B
Net EPS - Diluted	1.02	1.71	0	0.73	0.85
Diluted EPS - Continuing Operations	1.02	1.71	0	0.73	0.85
Diluted Weighted Average Shares Outstanding	2.69B	2.68B	2.66B	2.69B	2.66B
Normalized Basic EPS	0.97	0.95	0.66	0.97	0.87
Normalized Diluted EPS	0.96	0.94	0.66	0.96	0.87
Dividend Per Share	0.7	0.7	0.7	0.7	0.72
Payout Ratio	73.65	38.88	1.02K	96.64	83.57
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	12.74B	12.89B	11.64B	12.98B	13.12B
EBITA	7.9B	8.01B	6.85B	8.26B	8.02B
EBIT	5.62B	5.7B	4.49B	5.84B	5.68B
EBITDAR	13.01B	13.04B	11.79B	13.12B	13.24B
Effective Tax Rate - (Ratio)	30.97	-20.16	55.29	32.59	23.15
Total Current Taxes	1.09B	-1.24B	750M	1.17B	975M
Total Deferred Taxes	354M	396M	212M	97M	-103M
Normalized Net Income	2.58B	2.52B	1.76B	2.59B	2.32B
Interest on Long-Term Debt	122M	120M	120M	145M	258M
Non-Cash Pension Expense	-30M	-46M	-23M	310M	400M
Supplemental Operating Expense Items
Marketing Expenses	823M	736M	783M	804M	784M
Selling and Marketing Expenses	823M	736M	783M	804M	784M
Net Rental Expense, Total	270M	151M	147M	134M	111M
Imputed Operating Lease Interest Expense	75.35M	34.94M	30.7M	28.13M	28M
Imputed Operating Lease Depreciation	195M	116M	116M	106M	83M
Stock-Based Comp., COGS (Total)	73M	18M	185M	16M	21M
Stock-Based Comp., Other (Total)	-	5M	-	-	-
Total Stock-Based Compensation	73M	23M	185M	16M	21M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	6.48B	8.14B	8.62B	6B	5.62B
Short Term Investments	58M	47M	2.4B	7.26B	3.2B
Trading Asset Securities, Total	4.79B	3.37B	2.27B	112M	2.71B
Total Cash And Short Term Investments	11.33B	11.56B	13.3B	13.37B	11.53B
Accounts Receivable, Total	8.47B	8.86B	7.49B	7.88B	7.81B
Other Receivables	1.23B	1.24B	1.37B	1.44B	1.5B
Notes Receivable	1.07B	70M	-	-	-
Total Receivables	10.77B	10.17B	8.86B	9.32B	9.31B
Inventory	906M	814M	952M	1.05B	1.15B
Prepaid Expenses	52M	199M	240M	71M	68M
Other Current Assets, Total	1.94B	2.35B	2.49B	3B	3.19B
Total Current Assets	24.99B	25.09B	25.83B	26.8B	25.24B
Gross Property Plant And Equipment	109B	113B	122B	125B	131B
Accumulated Depreciation	-74.48B	-77.21B	-83.52B	-85.4B	-89.87B
Net Property Plant And Equipment	34.69B	36.08B	38.19B	39.58B	41.37B
Long-term Investments	3.06B	2.88B	3.91B	4.54B	3.68B
Goodwill	27.64B	27.6B	24.19B	23.11B	23.78B
Other Intangibles, Total	14.74B	15.14B	14.94B	14.95B	15.1B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	992M	731M	692M	421M	598M
Other Long-Term Assets, Total	201M	211M	313M	256M	290M
Total Assets	106B	108B	108B	110B	110B
Liabilities
Accounts Payable, Total	6.68B	6.48B	6.74B	7.07B	7.04B
Accrued Expenses, Total	3.55B	3.47B	3.75B	3.82B	4.12B
Short-term Borrowings	361M	709M	1.8B	1.25B	1.48B
Current Portion of Long-Term Debt	3.59B	4.5B	1.75B	3.5B	4.01B
Current Portion of Leases	1.27B	1.5B	1.37B	1.51B	1.47B
Current Income Taxes Payable	748M	673M	425M	538M	460M
Unearned Revenue Current, Total	2.14B	2.15B	2.69B	2.73B	2.85B
Other Current Liabilities	9.36B	8.82B	8.76B	8.8B	9.1B
Total Current Liabilities	27.7B	28.29B	27.28B	29.22B	30.53B
Long-Term Debt	33.64B	30.93B	32.14B	32.33B	30.76B
Long-Term Leases	5.22B	5.88B	6.7B	6.9B	7.1B
Pension & Other Post Retirement Benefits	2.55B	2.2B	2.8B	2.57B	2.55B
Deferred Tax Liability Non Current	703M	855M	1.18B	1.12B	1.14B
Other Non Current Liabilities	2.08B	2.54B	2.61B	2.55B	2.87B
Total Liabilities	71.89B	70.7B	72.71B	74.69B	74.95B
Common Stock, Total	10.64B	10.64B	10.64B	10.64B	10.64B
Additional Paid In Capital	16.86B	16.86B	16.86B	16.86B	16.86B
Retained Earnings	-1.07B	1.85B	-399M	-313M	61M
Comprehensive Income and Other	5.3B	5.04B	5.24B	4.6B	4.26B
Total Common Equity	31.73B	34.4B	32.34B	31.78B	31.82B
Minority Interest	2.69B	2.64B	3.02B	3.17B	3.27B
Total Equity	34.42B	37.04B	35.36B	34.96B	35.1B
Total Liabilities And Equity	106B	108B	108B	110B	110B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.65B	2.66B	2.66B	2.66B	2.66B
ECS Total Common Shares Outstanding	2.65B	2.66B	2.66B	2.66B	2.66B
Book Value / Share	11.97	12.94	12.17	11.96	11.97
Tangible Book Value	-10.65B	-8.34B	-6.79B	-6.28B	-7.05B
Tangible Book Value Per Share	-4.02	-3.14	-2.55	-2.36	-2.65
Total Debt	44.07B	43.51B	43.75B	45.49B	44.82B
Net Debt	32.75B	31.95B	30.45B	32.12B	33.29B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.96B	2.54B	3.18B	3.1B	3.22B
Debt Equivalent Oper. Leases	2.16B	1.21B	1.18B	1.07B	888M
Minority Interest, Total (Incl. Fin. Div)	2.69B	2.64B	3.02B	3.17B	3.27B
Equity Method Investments, Total	103M	98M	1.44B	1.49B	1.49B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	699M	651M	774M	857M	963M
Inventories - Others	270M	223M	242M	258M	265M
Land - (BS)	6.97B	7.08B	7.59B	7.92B	8.07B
Machinery, Total	3.93B	3.94B	3.96B	3.94B	3.76B
Full Time Employees	136K	134K	140K	136K	137K
Accumulated Allowance for Doubtful Accounts (Supple)	888M	983M	1.01B	996M	1.06B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.01B	4.82B	233M	2.15B	2.44B
Depreciation & Amortization - CF	6.08B	6.26B	6.28B	6.23B	6.63B
Amortization of Goodwill and Intangible Assets - (CF)	2.29B	2.31B	2.36B	2.42B	2.33B
Depreciation & Amortization, Total	8.36B	8.57B	8.64B	8.65B	8.96B
(Gain) Loss From Sale Of Asset	-312M	-244M	-80M	-181M	-135M
(Gain) Loss on Sale of Investments - (CF)	26M	-7M	-2.46B	-74M	1M
Asset Writedown & Restructuring Costs	111M	82M	4.07B	999M	483M
(Income) Loss On Equity Investments - (CF)	-8M	2M	-3M	2M	29M
Stock-Based Compensation (CF)	55M	23M	179M	14M	16M
Provision and Write-off of Bad Debts	332M	-275M	-283M	-10M	498M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-480M	362M	1.11B	482M	-232M
Change In Accounts Receivable	-105M	-529M	204M	-315M	338M
Change In Inventories	69M	72M	-126M	-108M	-84M
Change In Accounts Payable	-85M	-122M	36M	297M	-100M
Change in Other Net Operating Assets	-813M	-62M	-292M	-666M	-163M
Cash from Operations	10.16B	12.7B	11.24B	11.24B	12.05B
Capital Expenditure	-8.42B	-8.55B	-8.75B	-8.78B	-7.83B
Sale of Property, Plant, and Equipment	628M	374M	217M	324M	316M
Cash Acquisitions	-466M	-	-211M	-57M	-1.42B
Divestitures	543M	-	890M	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-1.86B	1.61B	1.92B	-2.11B	1.78B
Other Investing Activities, Total	211M	996M	-48M	170M	137M
Cash from Investing	-9.37B	-5.56B	-5.98B	-10.45B	-7.01B
Short Term Debt Issued, Total	-	-	1.14B	-	56M
Long-Term Debt Issued, Total	8.35B	2.69B	2.52B	1.81B	1.44B
Total Debt Issued	8.35B	2.69B	3.67B	1.81B	1.5B
Short Term Debt Repaid, Total	-945M	-413M	-	-400M	-
Long-Term Debt Repaid, Total	-6.05B	-4.87B	-6.51B	-3.06B	-4.25B
Total Debt Repaid	-6.99B	-5.29B	-6.51B	-3.46B	-4.25B
Issuance of Common Stock	500M	7M	-	14M	177M
Repurchase of Common Stock	-34M	-12M	-199M	-	-15M
Common Dividends Paid	-2.21B	-1.88B	-2.36B	-2.07B	-2.04B
Common & Preferred Stock Dividends Paid	-2.21B	-1.88B	-2.36B	-2.07B	-2.04B
Other Financing Activities, Total	445M	-937M	572M	366M	-834M
Cash from Financing	55M	-5.41B	-4.83B	-3.34B	-5.46B
Foreign Exchange Rate Adjustments	3M	-59M	50M	-61M	32M
Miscellaneous Cash Flow Adjustments	-	1M	1M	-	1M
Net Change in Cash	847M	1.66B	477M	-2.62B	-386M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	1.08B	-1.16B	954M	1.03B	1.13B
Levered Free Cash Flow	-1.11B	-973M	1.85B	2.49B	4.11B
Unlevered Free Cash Flow	-253M	-177M	2.57B	3.22B	5B
Change In Net Working Capital	3.78B	3.79B	313M	321M	-295M
Net Debt Issued / Repaid	1.36B	-2.59B	-2.84B	-1.65B	-2.75B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.46	3.32	2.6	3.35	3.23
Return on Total Capital	4.79	4.47	3.51	4.58	4.43
Return On Equity %	9.54	14.15	2.14	7.44	8.25
Return on Common Equity	8.78	13.81	0.02	6.07	7.12
Margin Analysis
Gross Profit Margin %	40.11	40.16	36.6	38.55	37.8
SG&A Margin	2.59	2.1	2.19	2.16	2.03
EBITDA Margin %	30.16	30.49	27.38	29.87	29.74
EBITA Margin %	18.71	18.94	16.11	19	18.17
EBIT Margin %	13.3