Orange (ORA) AGM 2025 summary

Opening remarks and agenda

• The meeting was chaired in compliance with legal requirements, with a quorum of over 76% of shares represented and key shareholders and employee representatives appointed as scrutineers.

• The agenda included a review of achievements, strategic projects, and responses to 54 pre-submitted shareholder questions.

Board and executive committee updates

• The Board's efficiency improved since separating the roles of Chair and CEO in 2022, with regular executive sessions and annual independent evaluations.

• The Board met 11 times in 2024, focusing on major projects such as the Spain joint venture, regulatory changes, and delisting from the NYSE.

• Committees on governance, audit, and strategy were highlighted for their expertise in AI, cybersecurity, and international markets.

Financial performance review

• 2024 revenue reached €40 billion, up 1.2%, with Africa and the Middle East contributing 11% growth and France up 2.6%.

• EBITDA rose 2.7% to €12.1 billion, with organic cash flow up €200 million to €3.4 billion and net debt reduced by €4.5 billion.

• Earnings per share increased 12% to €0.82, and return on capital employed improved to 6.9%.