Orange S.A. Price & Performance (ORAN)

Orange SA posted a 0.6% rise in first-quarter revenue, reaching €9.91 billion, as surging sales in its Africa and Middle East operations offset sluggish performance in France and other European markets. The company’s EBITDAaL increased 3.2%, aligning with forecasts, and Orange reiterated its 2025 financial targets.12

Orange’s retail operations grew 2.4% in Q1 2025, helping the telecom leader match market expectations for core profit despite a steeper-than-expected revenue decline in France. The company maintained its full-year guidance and reported 95.7 million mobile customers globally, with capital expenditure rising 6.6% year-over-year.34

Orange reaffirmed its 2025 financial objectives after Q1 results, highlighting a €1.65 billion provision tied to a deal with French unions to hire 6,000 employees by 2027. The group’s joint venture with Vodafone in Spain is expected to close by summer 2025, while its Spanish unit’s IPO remains on hold due to market conditions.45