Africa & Middle East Drive Double-Digit Revenue Growth for Orange
Africa & Middle East emerged as a major growth driver, delivering double-digit growth in both revenues and EBITDAaL.
Orange delivered robust financial and operational results in 2025, reflecting the successful execution of its Lead the Future strategic plan. The Group achieved an EBITDAaL growth of 3.8% and organic cash flow increased 8.3%, reaching €3.7 billion. The company also recorded strong customer growth, adding 19.6 million new customers across France, Europe, and Africa & Middle East over the year.
Africa & Middle East emerged as a major growth driver, delivering double-digit growth in both revenues and EBITDAaL. Revenues in the region rose 12.2% (€918 million), supported by significant growth across its four main segments: Mobile Data (+18.6%), Fixed Broadband (+18.4%), Orange Money (+18.0%), and B2B services (+10.4%). In France, the Group achieved a record quarter for fiber subscriptions, contributing to solid retail service growth (+0.6%), despite ongoing pressure in wholesale services. Overall, revenues in Europe increased 2.2%, reflecting growth in retail services, while Orange Business continued to improve EBITDAaL trends despite challenging market conditions.
Operational efficiency initiatives in France and Europe contributed to the results, supporting the Group’s target of achieving €600 million in cost savings over three years. EBITDAaL from telecom activities reached €12.52 billion, a 3.0% increase, while the EBITDAaL margin improved by 0.6 points. The Group also maintained leadership in fiber, with 65.5 million households connectable to FTTH globally (+9% year-on-year) and 15.4 million FTTH customers (+14%).
Strategic developments were also notable in 2025. Orange signed a binding agreement with Lorca to acquire full ownership of MasOrange in Spain, which will become its second-largest European market upon closing in 2026. The PremiumFiber joint venture with Vodafone and GIC launched in Spain, now serving more than 12 million access lines and nearly 5 million customers. In France, Orange, along with Bouygues Telecom and Free-Iliad Group, submitted a non-binding offer to acquire a large part of Altice’s operations, with due diligence beginning in January 2026, aimed at strengthening high-speed broadband, cybersecurity, and AI capabilities.
Financial highlights for 2025 include annual revenue of €40.4 billion, up 0.9% year-on-year, with growth in retail services (+2.2%) partially offset by a decline in wholesale services (-3.9%). Adjusted net income totaled €3.09 billion, while consolidated net income was €1.14 billion, impacted by restructuring, depreciation of the copper network, and impairments in Orange Business activities. The Group proposed a dividend of €0.75 per share for 2025 and achieved a total shareholder return of +56% for the year.
“In 2025, we successfully completed our Lead the Future strategic plan: Orange is now simpler, stronger, and more efficient. By refocusing on value creation, we have strengthened our position in a rapidly changing global digital market. Africa & Middle East confirmed its role as a growth driver, recording an eleventh consecutive quarter of double-digit growth.”
– Christel Heydemann, CEO, Orange
Looking ahead, Orange will present its strategic priorities and financial outlook for 2026–2028 at its Capital Markets Day, emphasizing continued investment in high-speed broadband, digital transformation, and network modernization across its global markets.
