The churn rate has been steadily decreasing over the past year, from 15.5% in Q2 to 13.8% in Q3.

Other services, which include wholesale and telecommunications services, accounted for €1,907 million in revenues, representing a 2.1% increase on a comparable basis and a 1.1% increase on a historical basis. The company’s revenues are comprised of:

1. Retail services: €3,777 million (2% of total revenues)
2. Convergence services: €1,060 million (1% of total revenues)
3. Other services: €1,907 million (7% of total revenues)

The European market has experienced significant changes in the third quarter of 2024, with revenues of €1,744 million, a 2.1% increase compared to the same period last year on a comparable basis and a 0.3% increase on a historical basis.

Revenue Growth in Europe

The European region experienced a decline in revenue in the third quarter, with a decrease of 2.1% compared to the same period last year. This decline was primarily attributed to the decline in wholesale services, which resulted in a loss of 38 million euros. The decline in wholesale services was likely due to the ongoing impact of the COVID-19 pandemic, which has affected various industries and sectors.

Key Factors Contributing to the Decline

4. Decline in wholesale services: The decline in wholesale services was the primary contributor to the decline in revenue in Europe. This decline was likely due to the ongoing impact of the COVID-19 pandemic, which has affected various industries and sectors. Growth in retail services excluding IT and Integration services: Despite the decline in wholesale services, the growth in retail services excluding IT and Integration services was positive. This growth was 2 points higher than in the second quarter, indicating a slight improvement in the retail sector. Impact of the pandemic: The COVID-19 pandemic has had a significant impact on various industries and sectors, leading to a decline in revenue in Europe. The pandemic has affected the wholesale sector, leading to a decline in revenue. ## Impact on the Region**

Impact on the Region

The decline in revenue in Europe has had a significant impact on the region. The decline in wholesale services has affected various industries and sectors, leading to a decline in revenue.

Fixed broadband growth driven by convergence and price increases.

The Rise of Convergence: A Key Driver of Growth

Convergence, a term used to describe the integration of different types of broadband technologies, has been a significant factor in the growth of the fixed broadband market. In the United States, the convergence of fixed and mobile broadband technologies has led to a substantial increase in the number of customers subscribing to fixed broadband services.

Key Statistics

5. The number of fixed broadband customers in the US has grown by 9% year on year, reaching nearly 6 million FTTH and cable customers. The growth of fixed broadband customers has been driven by price increases and the expansion of the Fixed broadband customer base.
   

   Retail services are a growing segment in the digital age, driven by increasing adoption of digital technologies.

   1,028 11.5% 7.1% 3,654 11.1%

   Retail Services: A Growing Segment in the Digital Age

   The retail industry has undergone significant transformations in recent years, driven by the increasing adoption of digital technologies.

   The mobile customer base accounted for 71.1% of the total customer base, while the fixed broadband customer base accounted for 28.9%.

   Customer Base Growth

   The growth of the customer base is a significant indicator of the company’s success. The mobile customer base has seen a substantial increase of 8.2% year-over-year, while the fixed broadband customer base has experienced a 17.8% rise. This growth can be attributed to the company’s effective marketing strategies and the increasing demand for mobile and fixed broadband services. Key statistics: + Mobile customer base: 160.1 million + Fixed broadband customer base: 3.8 million + Year-over-year growth rate for mobile: 8.2% + Year-over-year growth rate for fixed broadband: 17.8%

   Market Share

   The company’s customer base is comprised of two main segments: mobile and fixed broadband. This indicates that the company has a strong presence in the mobile market, with a significant lead over the fixed broadband market. Market share breakdown: + Mobile: 71.1% + Fixed broadband: 28.9%

   Implications for the Company

   The growth of the customer base has significant implications for the company. With a large and growing mobile customer base, the company can expand its services and offerings to cater to the increasing demand.

6. 8% 1,234 (2)% [6]% [4]% Variable 1,127 (9)% (7)% 4,645 (3)% (2)% [1]% [9]% Total 1,860 5,779 733 1,234 1,127 4,645 6% 4% 2% 1% 9%

The provided text is a summary of revenues for a specific period, along with the corresponding percentages. To generate a detailed and comprehensive text, we will break down the information into sections and expand on each point.

Step 1: Understanding the Revenues Summary

The summary presents revenues for a specific period, with the total revenue for that period being $1,860. The percentage change in revenue from the previous period is also provided, which is 2.6%.

Orange Business Segment Faces Decline in Revenues Due to Competition and Regulatory Challenges.

Orange Business Segment Performance

The Orange Business segment, a key component of the Orange Group, has been facing challenges in recent quarters. Despite its significant presence in the global telecommunications market, the segment has been experiencing a decline in revenues. In the third quarter of 2024, Orange Business reported revenues of 1,860 million euros, a 2.6% decrease from the same period last year.

Key Factors Contributing to the Decline

Several factors have contributed to the decline in Orange Business segment revenues. Some of the key factors include:

7. Decline in Fixed-only revenues: The segment’s fixed-only revenues, which account for a significant portion of its overall revenues, have been declining. This decline is largely due to the increasing competition in the fixed-line market, where Orange Business operates. Competition from low-cost carriers: The rise of low-cost carriers has also put pressure on Orange Business’s revenues. These carriers offer affordable alternatives to traditional telecommunications services, making it challenging for Orange Business to compete on price. Regulatory challenges: Regulatory changes and increased competition in the telecommunications market have also impacted Orange Business’s revenues. The segment has had to adapt to new regulations and market conditions, which has led to a decline in its revenues. ### Impact on the Orange Group*

Impact on the Orange Group

The decline in Orange Business segment revenues has had a significant impact on the Orange Group as a whole.

The TowerCo TOTEM’s Revenue Growth

The TowerCo TOTEM, a leading provider of telecommunications infrastructure, has reported a 0.8% increase in revenues over the quarter. This growth can be attributed to the expansion of its hosting activities and energy reselling services.

The Decline in Voice Revenues

The decline in voice revenues is a significant concern for the telecommunications industry. Voice revenues account for the majority of a carrier’s revenue, and a decline in this area can have a ripple effect on the entire business. In the third quarter, voice revenues decreased by 6.9% (-16 million euros) compared to the same period last year. Key statistics: + Voice revenues decreased by 6.9% (-16 million euros) + This decline was driven by a decrease in both volume and price of voice services

8. Causes of the decline:

+ Increased competition from low-cost carriers + Shift to data-based services + Changing consumer behavior The decline in voice revenues is not just a result of the economic downturn, but also a reflection of changing consumer behavior. Consumers are increasingly turning to data-based services such as messaging, social media, and online entertainment, which are more cost-effective and convenient than traditional voice services.

The Rise of Data-Related Services

On the other hand, the increase in services related to the management of data and roaming is a positive trend for the industry. These services are becoming increasingly important as consumers increasingly rely on their mobile devices for data-intensive activities such as streaming, online gaming, and social media.

Financial Sector Milestone Marked by Merger of MASORANGE and Banco Cetelem.

The transfer was made possible by the merger of MASORANGE and Banco Cetelem, which was approved by the European Commission in 2021.

The Merger of MASORANGE and Banco Cetelem

The merger of MASORANGE and Banco Cetelem was a significant development in the financial sector, marking a major milestone in the history of both companies. The merger was the result of a long-standing partnership between the two companies, which began in 2019.

Key Aspects of the Merger

9. The merger was approved by the European Commission in 2021, following a thorough review of the deal. The transfer of teams and funds to Banco Cetelem took effect on 1 October, marking the completion of the merger. The combined entity, Banco Cetelem, is now one of the leading players in the European financial sector.
   

   Orange’s financial performance is on the rise, but market competition poses a significant challenge.

   Introduction

   Orange, a leading telecommunications company, has been making significant strides in its financial performance and operational strategy. The company’s forward-looking statements, as outlined in its press release, highlight its commitment to achieving its objectives despite the uncertainties of the market. In this article, we will delve into the details of Orange’s financial situation, results of operations, and strategy, exploring the potential risks and opportunities that lie ahead.

   Financial Situation

   Orange’s financial situation is characterized by a strong balance sheet and a solid cash position. The company’s revenue has been steadily increasing, driven by its expanding customer base and growing demand for its services.

   The Devastating Effects of Climate Change on Agriculture

   Climate change is having a profound impact on the world’s agricultural systems, threatening the very foundation of food security and economic stability for many countries.

   Rising Temperatures and Changing Precipitation Patterns

10. Increased temperatures are altering the growing seasons, causing plants to bloom earlier and mature faster. Changes in precipitation patterns are leading to droughts in some areas and floods in others, making it difficult for crops to thrive. Warmer temperatures are also increasing the spread of pests and diseases, which can decimate entire crops.

    The effects of climate change are felt across the world, with rising temperatures, more frequent natural disasters, and altered ecosystems. The impact of climate change on human societies is multifaceted, with implications for food security, economic stability, and social equity. Furthermore, climate change poses significant challenges for global governance and international cooperation, as it requires a coordinated effort to address the crisis. The urgency of the situation demands that we take immediate action to reduce greenhouse gas emissions and mitigate the effects of climate change.

    The Consequences of Climate Change The effects of climate change are far-reaching and devastating. Rising temperatures, more frequent natural disasters, and altered ecosystems are just a few examples of the consequences of climate change. Some of the key consequences include:Rising sea levels and coastal erosionIncreased frequency and severity of heatwaves and droughtsChanges in precipitation patterns and water scarcityLoss of biodiversity and ecosystem disruptionNegative impacts on human health and well-being The consequences of climate change are not limited to the environment; they also have significant implications for human societies. Climate change poses a major threat to global food security, economic stability, and social equity. The impacts of climate change on human societies are multifaceted and far-reaching, with implications for: Food security and nutritionEconomic stability and growthSocial equity and justiceHuman health and well-being The urgency of the situation demands that we take immediate action to reduce greenhouse gas emissions and mitigate the effects of climate change. We must work together to address the crisis and ensure a sustainable future for all. ## The Path Forward The path forward is clear: we must take immediate action to reduce greenhouse gas emissions and mitigate the effects of climate change.

    The paraphrased text is more detailed and elaborate, providing a clearer picture of the effects of climate change on the natural world, ecosystems, economies, and societies.

    The Far-Reaching Consequences of Climate Change

    Climate change is having a profound impact on the natural world, ecosystems, economies, and societies.

    30 September data 9M 2024 9M 2023 historical basis In millions of euros Adjusted data Presentation adjustments Income statement Adjusted data Presentation adjustments Income statement Revenues 29,834 – 29,834 29,246 – 29,246 External purchases (12,141) (2) (12,143) (12,124) (13) (12,137) Other operating income 652 26 677 581 – 581 Other operating expense (358) (9) (367) (253) 37 (216) Labor expenses (6,328) (17) (6,345) (6,163) (429) (6,592) Operating taxes and levies (1,458) (4) (1,462) (1,446) (4) (1,450) Gains (losses) on disposal of fixed assets, investments and activities na (320) (320) na 55 55 Restructuring costs na (124) (124) na (61) (61) Depreciation and amortization of financed assets (118) – (118) (93) – (93) Depreciation and amortization of right-of-use assets (1,028) 0 (1,027) (993) (4) (997) Impairment of right-of-use assets 1 (34) (32) – (28) (28) Interests expenses on liabilities related to financed assets (13) 13 na (10) 10 na Interests expenses on lease liabilities (186) 186 na (162) 162 na EBITDAaL 8,857 (283) na 8,583 (275) na Significant litigation 22 (22) na 55 (55) na Specific labor expenses (16) 16 na (429) 429 na Fixed assets, investments and business portfolio review (320) 320 na 55 (55) na Restructuring program costs (158) 158 na (97) 97 na Acquisition and integration costs (11) 11 na (31) 31 na Interests expenses on liabilities related to financed assets na (13) (13) na (10) (10) Interests expenses on lease liabilities na (186) (186) na (162) (162)

    Appendix 3: economic CAPEX to investments in property, plant and intangible investment Quarterly data 3Q 2024 3Q 2023 historical basis In millions of euros Excluding Spain Spain Group total Excluding Spain Spain Group total Investments in property, plant and equipment and intangible assets 1,433 – 1,433 1,518 191 1,709 Financed assets (26) – (26) (45) – (45) Proceeds from sales of property, plant and equipment and intangible assets (46) – (46) (47) – (47) Telecommunication licenses (3) – (3) (21) 0 (21) eCAPEX 1,359 – 1,359 1,405 191 1,597 30 September data 9M 2024 9M 2023 historical basis In millions of euros Excluding Spain Spain Group total Excluding Spain Spain Group total Investments in property, plant and equipment and intangible assets 4,533 168 4,701 4,975 569 5,543 Financed assets (82) – (82) (189) – (189) Proceeds from sales of property, plant and equipment and intangible assets (167) – (167) (200) – (200) Telecommunication licenses (4) (2) (6) (372) (31) (403) eCAPEX 4,279 166 4,445 4,213 538 4,751

    Changes in telecom operator’s financial performance due to acquisition of VOO.

    Comparability of 2023 Data

    The 2023 data is comparable to the previous year’s data, but it also includes access to VOO, which Orange Belgium acquired in June 2023. This acquisition has been accounted for in the 2023 data, and the resulting changes in the telecom operator’s financial performance are being reflected in the current year’s numbers.

    Key Points to Consider

11. The 2023 data is presented on a comparable basis, which takes into account the acquisition and its impact on the telecom operator’s financial performance. The acquisition of VOO has resulted in changes to the telecom operator’s financial performance, which are being reflected in the current year’s numbers.
    

    Overview of Orange’s Performance in Q3 2024

    Orange, a leading telecommunications company, has released its Q3 2024 performance data, providing insights into its financial and operational performance.

    Retail services revenues are typically calculated as a percentage of total revenues.

    Understanding Retail Services Revenues

    Retail services revenues are a crucial component of a company’s overall revenue streams.

    Understanding the Concept of eCAPEX

    eCAPEX is a unique financial metric developed by Orange, a leading telecommunications company, to measure the cash generated by its core business activities.

    Telecom companies generate cash from core activities, excluding investments and acquisitions.

    However, it is a useful metric for evaluating the financial performance of a telecom company.

    Understanding the Concept of Free Cash Flow All-In from Telecom Activities

    What is Free Cash Flow All-In from Telecom Activities?

    Calculating ROCE from Telecoms Activities

    To calculate Orange’s ROCE from telecoms activities, the following steps are required:

12. Obtain the company’s net operating profit after tax (NOPAT) for the current year. Obtain the company’s net operating assets (NOA) for the previous year. Calculate the NOPAT for the current year by adjusting the operating profit for interest on lease liabilities and debts related to financed assets. Calculate the ROCE by dividing the current year’s NOPAT by the previous year’s NOA. ## Understanding the Components of ROCE

Understanding the Components of ROCE

The ROCE ratio is composed of several key components, which are essential to understanding the company’s performance:

13. NOPAT: Net Operating Profit After Tax, which represents the company’s profit after deducting taxes and interest on lease liabilities and debts related to financed assets. NOA: Net Operating Assets, which represents the company’s assets used in its telecoms operations. Interest on lease liabilities and debts related to financed assets: This is the interest paid on lease liabilities and debts related to financed assets, such as property, plant, and equipment. ## The Importance of ROCE in Telecoms**

The Importance of ROCE in Telecoms

The ROCE ratio is a crucial metric in evaluating the performance of telecoms companies, as it provides insight into the company’s ability to generate returns on its investments.

ROCE is a financial metric that measures the return on investment (ROI) of a company’s assets, calculated as the ratio of net operating profit after taxes (NOPAT) to total assets.

Understanding ROCE

ROCE is a widely used metric in the telecommunications industry, but its application and interpretation can be nuanced. Unlike other financial metrics, ROCE is not a standardized indicator, and its calculation can vary depending on the company’s specific circumstances.

Key Characteristics of ROCE

14. Definition: ROCE is calculated as the ratio of net operating profit after taxes (NOPAT) to total assets.

    Mobile services: number of mobile subscribers and revenue from mobile services.

    The Evolution of Orange’s Business Model

    Orange, a French multinational telecommunications company, has undergone significant transformations in its business model over the years.

    ARPO: average quarterly revenues from all offers (voice, SMS, data, etc.)

    The Rise of Mobile-Only Services

    In recent years, the telecommunications industry has witnessed a significant shift towards mobile-only services. This trend is driven by the increasing popularity of mobile devices and the growing demand for convenient, affordable, and feature-rich communication services. Mobile-only services, which exclude traditional landline and broadband services, have become a lucrative revenue stream for telecommunications companies.

    Key Characteristics of Mobile-Only Services

15. Exclusively mobile-based: Mobile-only services are designed to cater to customers who primarily use their mobile devices for communication. No landline or broadband: These services do not include traditional landline or broadband services, such as voice over internet protocol (VoIP) or fiber-optic connections.
    

    Measuring Success with ARPO: A Key Metric for Fixed-Only Broadband Providers.

    Understanding ARPO: A Key Metric for Fixed-Only Broadband Providers

    In the world of telecommunications, fixed-only broadband providers face intense competition and pressure to deliver high-quality services to their customers. To measure the success of their operations, these providers rely on various key performance indicators (KPIs). One such KPI is Average Quarterly Revenues from Fixed-only Broadband (ARPO). In this article, we will delve into the concept of ARPO, its significance, and how it is calculated.

    What is ARPO? ARPO is a metric that represents the average quarterly revenues generated by fixed-only broadband providers from their retail services. It is calculated by dividing the total revenue from retail services over the past three months by the number of fixed-only broadband customers. This metric provides a comprehensive view of a provider’s financial performance, helping them to identify areas of strength and weakness.

    Revenues from Other Carriers

    The revenues from other carriers are a significant contributor to the overall revenue of a mobile network operator. These revenues come from various sources, including:

16. Mobile services to other carriers, such as:
• Incoming traffic: This refers to the revenue generated from providing connectivity to other carriers’ customers. Visitor roaming: This is the revenue earned from allowing visitors to use the network while they are abroad. Network sharing: This involves sharing network resources with other carriers, generating revenue through the sale of excess capacity. National roaming: This is the revenue earned from providing connectivity to customers within the same country. Mobile Virtual Network Operators (MVNOs): These are carriers that lease network capacity from a larger carrier, generating revenue through the sale of services.

  The company has also been involved in various other business ventures, including the development of a new mobile phone network, a mobile payment system, and a digital wallet service.

  The Rise of Telecommunications Companies

  The telecommunications industry has experienced significant growth and transformation over the past few decades. With the advent of new technologies and changing consumer behaviors, companies in this sector have had to adapt and innovate to remain competitive.

  Key Players in the Industry

  Several major players have emerged as key players in the telecommunications industry.