Masorange (MASORANGE) Q1 2026 earnings summary

Executive summary

• Achieved total revenues of €1,869M in Q1 2026, up 1.2% year-over-year, driven by B2B and new business growth.

• Integrated fully into the Orange Group, with regulatory approval paving the way for deal closure in Q2 2026.

• Added over 400,000 new postpaid mobile customers in the last 12 months, reaching nearly 47M managed lines including M2M.

Financial highlights

• Service revenues increased in Q1 2026 versus Q4 2025, supported by enterprise and public sector segments.

• ARPU for convergent users stable year-over-year at €54.1, with sequential growth from the previous quarter.

• Accumulated synergies reached €394M by Q1 2026, on track for €430M target for the year.

Outlook and guidance

• On track to achieve €430M in accumulated synergies by year-end 2026.

• Continued focus on innovation, network expansion, and sustainable growth.