Orange Belgium FY revenue misses estimates, skips dividend

Orange Belgium NV

06/02/2026 06:09

Overview

Telecom firm's FY 2025 revenue fell 1.5% yoy, missing analyst expectations

FY 2025 EBITDAaL grew 4% yoy, slightly exceeding company guidance

Company will not propose a dividend for FY 2025 to preserve cash for investments

Outlook

Company targets 2026 EBITDAaL growth of approximately 3.5%

Total eCapex in 2026 expected to be circa €360 mln

Company will not propose a dividend for 2025 to preserve cash

Result Drivers

REVENUE DECLINE - Co attributed 1.5% revenue decrease to non-renewal of Belgian football rights and reduced low-margin activities

EBITDAaL GROWTH - 4% EBITDAaL increase driven by synergies from VOO acquisition and cost optimizations

CUSTOMER BASE EXPANSION - Mobile postpaid and cable customer bases grew, though net additions were lower than previous year

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Miss
EUR 1.96 bln
EUR 2.09 bln (3 Analysts)
FY EBITDAaL
EUR 566.10 mln
FY Adjusted Free Cash Flow
EUR 190.20 mln
FY eCapex
-EUR 375.90 mln
FY Net Debt
EUR 1.82 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the wireless telecommunications services peer group is "buy."

Wall Street's median 12-month price target for Orange Belgium NV is €17.00, about 11.7% below its February 5 closing price of €19.25

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 77 three months ago

Press Release: ID:nGNE4fm8XR

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)