A decent set of Q2 results for Orange with stable revenues yoy in reported terms and EBITDA up by 4.5% yoy (adjusted for the co-financing).
With a forecast of a fairly significant increase in EBITDA less capex, the group should be able to steadily increase its dividend from 2023.
We stick to our Strong Buy on the stock. However, in the short term, the rotation toward quality growth stocks at the expense of telcos is likely to continue.
28 Jul 2022
Confirmation of entering a virtuous circle
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Confirmation of entering a virtuous circle
- Published:
28 Jul 2022 -
Author:
Jean-Michel Salvador -
Pages:
3
A decent set of Q2 results for Orange with stable revenues yoy in reported terms and EBITDA up by 4.5% yoy (adjusted for the co-financing).
With a forecast of a fairly significant increase in EBITDA less capex, the group should be able to steadily increase its dividend from 2023.
We stick to our Strong Buy on the stock. However, in the short term, the rotation toward quality growth stocks at the expense of telcos is likely to continue.