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Orange Belgium (OBEL) investor relations material
Orange Belgium H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved strong commercial and EBITDAAL growth in H1 2025, with resilience in a competitive market and successful execution of strategic initiatives.
B2C growth driven by mobile portfolio success and targeted promotions; B2B segment strengthened with unified ICT and cybersecurity solutions.
Over 75% RAN sharing and 75% 5G coverage achieved; FTTP deployment started and network modernization ongoing.
Data and AI initiatives reduced churn, operational costs, and improved efficiencies.
HR harmonization completed or progressing post-VUE/VOO integration.
Financial highlights
H1 2025 revenues declined 1.5% year-over-year to €962.7m, mainly due to lower non-margin activities and service revenue.
EBITDAAL rose 4.7% year-over-year to €264.8m, with margin improving to 27.5% of revenues.
eCapEx increased 2.2% to €184.0m, supporting network investments and FTTP rollout.
Net profit for H1 2025 was €2.5m, reversing a €17.7m loss in H1 2024.
Net financial debt decreased 1.5% to €1,878.7m as of June 30, 2025.
Outlook and guidance
2025 guidance reaffirmed: EBITDAAL expected between €545m and €565m; eCapEx between €365m and €385m, excluding license fees.
EBITDAAL anticipated at the higher end of the range.
H2 2025 revenue trajectory expected to improve, supported by price increases and disciplined capital expenditure.
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