Orange sees slower EBITDA growth in 2019

Orange sees slower EBITDA growth in 2019
FILE PHOTO - The logo of French telecom operator Orange is seen on the facade of the Velodrome stadium in Marseille, France, September 30, 2016. REUTERS/Jean-Paul Pelissier/File Photo   -  Copyright  Jean-Paul Pelissier(Reuters)
By Reuters

PARIS (Reuters) – Orange said on Thursday its fourth-quarter core operating profit grew by 1.4 percent on comparable basis, mainly driven by a higher revenues in France and Spain and cost cuts.

France’s number one telecoms operator said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 3.33 billion euros (2.9 billion pounds) for the period, above market expectations for growth of 0.6 percent.

Fourth-quarter revenues were up 1.4 percent on a comparable basis to 10.8 billion euros. Orange said it expected adjusted EBITDA to grow at a slower pace in 2019 than in 2018 because of stronger competition in France.

(Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by GV De Clercq)

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