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Orange Polska (OPL) investor relations material
Orange Polska Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue grew 7.9% YoY and EBITDAAL rose 15.6%, supported by commercial momentum, profitable growth across business engines and lower indirect costs.
Nine-month results reflected growth across consumer, business and wholesale, supported by cost discipline and return-driven investment.
Financial highlights
Q3 revenue was PLN 3,592m (+7.9% YoY), EBITDAAL PLN 1,039m (+15.6%) and net income PLN 328m (+44%).
9M revenue was PLN 10,275m (+7.7% on a comparable basis), EBITDAAL PLN 2,881m (+9.4%) and net income PLN 904m (+30%).
9M organic cash flow was PLN 871m, up PLN 203m or 30% YoY; Q3 organic cash flow was PLN 378m (+17%).
Q3 direct margin increased 6%; indirect costs fell 4% YoY, with transformation savings and copper sales contributing.
9M eCAPEX was PLN 1,082m, down 4.0% YoY; Q3 eCAPEX was PLN 357m, up 8.8%.
Outlook and guidance
FY26 guidance reiterated: low-to-mid single-digit revenue growth, EBITDAAL growth above 6%, organic cash flow of at least PLN 1.2bn and eCAPEX of ~PLN 1.8bn.
Following strong execution, 7%-8% FY EBITDAaL growth was indicated as achievable; formal 2027 KPI guidance is due in February.
Q4 is the peak sales season, with higher commercial spending and investment; elevated capex is typically followed by higher supplier payments in Q1.
Q4 core telco revenue growth is expected to strengthen; wholesale faces a tougher comparison, while IT&IS project growth remains volatile despite a strong pipeline.
- Revenue and EBITDAAL rose over 6%, driving upgraded full-year guidance for 2026.OPL
Q2 2026 - Q1 2026 saw 2.9% revenue and 9.5% EBITDAAL growth, with net income up 54.5% year-over-year.OPL
Q1 2026 - 2025 saw robust growth, higher dividends, and all resolutions passed with strong shareholder support.OPL
AGM 2026 - 2025 results beat guidance on revenue and EBITDA/EBITDAAL, with strong cash flow and higher dividend.OPL
Q4 2025 - Q3 2025 delivered strong revenue and EBITDAAL growth, with guidance reaffirmed.OPL
Q3 2025 - Q2 and H1 2025 saw strong telecom growth, 5G investment, and guidance reaffirmed.OPL
Q2 2025 - Targets digital leadership, strong fiber/5G growth, and stable returns through 2028.OPL
CMD 2025 - Revenue up 2.3%, EBITDAaL up 2.9%, 700 MHz spectrum secured, dividend declared.OPL
Q1 2025 - EBITDA/EBITDAAL up 4.6%, net income up 12%, with robust fibre and 5G expansion in 2024.OPL
Q4 2024
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