The total revenue of Orange Belgium reached €1.993 billion for the fiscal year 2024, an increase of 1.7% compared to 2023, the telecom operator announced on Friday during the publication of its annual financial results.
Despite this growth, the company will not propose a dividend, continuing its policy since the 2021 fiscal year.
Orange attributed its success to strong mobile commercial performance and the launch of new offers at the beginning of the semester.
The number of post-paid customers grew by 74,000, bringing the total number of subscribers to 3.5 million, a 4.4% increase.
Cable service offers added 17,000 net new subscribers in the second semester, totalling one million by the end of 2024, a 3.5% annual increase.
"The initiatives we took, including our partnership with Netflix and the introduction of new portfolios, were well received by our customers," commented CEO Xavier Pichon. "These efforts demonstrate our commitment to improving customer experience and maintaining our leadership in a highly competitive market."
From a financial perspective, the EBITDAaL, or operational result, saw an "exceptional improvement" of 10.1%.
"We achieved this performance by exceeding our synergy targets after acquiring VOO, demonstrating the successful integration of the two companies," said CFO Antoine Chouc.
Orange invested €368 million in eCapex, a 1.4% annual increase, into its networks. This was for the network sharing agreement with Proximus, 5G deployment, and cable network upgrades, especially in rural areas supported by subsidies, to ensure Gigabit network coverage. The operator has also started deploying fibre optic.
For 2025, Orange Belgium expects operational results between €545 million and €565 million, with investment amounts ranging from €365 million to €385 million.
Orange will not propose a dividend for 2024, aiming to "preserve its cash flow to meet future equity requirements."
