Finance
France's Orange Lifts Full-Year Outlook After Quarterly Results Top Estimates
Published by Global Banking & Finance Review®
Posted on April 23, 2026
2 min readLast updated: April 23, 2026
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Orange raised its full-year EBITDAaL growth guidance to more than 3% after Q1 2026 EBITDAaL rose 6.6% to €2.60 bn and revenues climbed 3.5% to €10.1 bn, driven by strong growth in Africa & Middle East and solid European performance.
France's Orange lifts outlook for 2026 as quarterly results top estimates
Orange's Strong First-Quarter Performance and Upgraded Guidance
Upgraded Full-Year Guidance
April 23 (Reuters) - Orange raised its full-year guidance on Thursday after the French telecom operator reported first-quarter earnings that slightly surpassed market expectations.
It now expects earnings before interest, taxes, depreciation and amortization after leases (EBITDAaL), a key earnings metric used by many telecom firms, to grow more than 3% this year, having previously guided for around 3% growth.
Financial Highlights
Revenue Growth
First-quarter revenue rose 3.5% to 10.1 billion euros ($11.8 billion), just above a company-compiled consensus estimate of 10 billion euros, buoyed by sustained double-digit percentage growth in the Africa and Middle East region and solid performance in its European markets.
EBITDAaL Performance
Quarterly EBITDAaL jumped 6.6% to 2.60 billion euros, also outpacing market expectations of 2.58 billion euros.
Regional and Segment Performance
Africa and Middle East
Africa and the Middle East remained the group's standout performer, with a 12.7% revenue jump driven by 19.4% growth in mobile data usage.
France and Other European Markets
Revenue in France grew 2.3% to 4.4 billion euros, as Orange's largest market added 54,000 fixed broadband customers and 40,000 mobile subscribers in the quarter. Across its other European operations, the group added 66,000 mobile and 51,000 fibre customers.
Cybersecurity Segment
Cybersecurity unit Orange Cyberdefense, one of the group's key bets for growth, saw its revenue rise 9.2%.
Operational Developments
Network and Infrastructure
2G Network Decommissioning
Back in France, the company has begun decommissioning its 2G network, while the phaseout of its legacy copper infrastructure is accelerating, with 900,000 households disconnected in January.
Capital Spending
Capital spending totalled 1.54 billion euros in the quarter, or 15.3% of revenue, in line with Orange's annual target.
Additional Information
($1 = 0.8548 euros)
(Reporting by Leo Marchandon in Gdansk, editing by Milla Nissi-Prussak)
Key Takeaways
- •Full-year EBITDAaL growth guidance upgraded from ~3% to over 3% after beating Q1 targets.
- •Q1 2026 revenue rose 3.5% to €10.1 bn; EBITDAaL grew 6.6% to €2.60 bn, both above consensus.
- •Continued double‑digit expansion in Africa & Middle East remains the key growth engine, complemented by healthy European markets.
Frequently Asked Questions about France's Orange lifts full-year outlook after quarterly results top estimates
1What prompted Orange to raise its full-year outlook for 2026?
Orange increased its full-year outlook after reporting better-than-expected Q1 results in revenue and EBITDAaL, mainly fueled by strong growth in Africa & Middle East and Europe.
2How much did Orange's Q1 2026 revenue grow?
Orange's revenue for Q1 2026 rose by 3.5% to 10.1 billion euros, beating analysts’ forecasts.
3What were Orange's Q1 2026 EBITDAaL results?
Quarterly EBITDAaL increased 6.6% to 2.60 billion euros, slightly above market expectations.
4Which regions contributed most to Orange's revenue growth?
The Africa & Middle East region and European markets delivered double-digit and solid growth, significantly boosting Orange’s overall revenue.
5What is Orange's new EBITDAaL growth target for 2026?
Orange now expects EBITDAaL to grow by more than 3% in 2026, up from its previous forecast of 'around 3%'.
