The board said it was "convinced by the solid results" achieved by Richard during his eight years at the helm of the telco, during which time he had "succeeded in restoring a positive working environment within the company and has overseen improved financial results despite strong competition in France and abroad".
For 2019 and 2020, the company expects growth in adjusted EBITDA, decrease in CAPEX and growth in Operating Cash Flow.
In fixed broadband, company reached 4.2 million customers, 0.5% more, of which 2.3 million already have contracted fiber, 40.4% more than in December 2016. The company's fibre customers were up by 1.4x times year on year to 2.26 million at the end of the year, representing 54 percent of its fixed broadband customer base and TV subscribers increased by 23.4 percent to 626,000 customers at the end of the fourth quarter. On a comparable basis, revenue grew 1.2%. Adjusted EBITDA was up 2.2% to €12.8 billion.
This is in stark contrast with other telecom groups such as Britain's BT and Altice (Other OTC: ATSVF - news) 's French unit SFR, whose poor performance has sent shares of its heavily indebted parent company down by more than 50 percent over the a year ago.
French telecoms group Orange has no plans to merge with a rival in Germany or expand in another country in Africa, chief executive Stephane Richard said on Wednesday. We now have 4.7 million fibre customers and 46 million 4G customers across the Group.
Fixed services revenues rose 3.1 percent on a comparable basis to Euro 521 million in the fourth quarter thanks to a 0.5 percent year on year rise in broadband customers to 4.15 million at 31 December 2017, while ARPU rose 4.2 percent to Euro 33.1. Europe revenues grew 4.6 percent from previous year to 11.03 billion euros, with good growth in Spain. "(.) Our performance in 2017 is the result of two constants - the relevant offers built ogether with our customers and their trust in the quality of the services offered by the largest 4G network in Romania", Orange Romania CEO, Liudmila Climoc, said.