latest key figures
results for the third quarter 2008 permit confirmation of objectives for the
full year
revenue up 3.4% on a comparable basis to 39.9 billion euros over the first nine
months of 2008.
stability in gross operating margin
rate for the first nine months of 2008 at
37.1% of revenue on a comparable basis, in line with the Group’s objectives for
the year
the CAPEX to revenue ratio of 11.6%
in the first nine months of 2008 is in line
with the objective of about 13% for the year
Group net debt remained stable compared
to 30 June 2008 after payment of the
interim ordinary dividend on 11 September
confirmation
of the 2008 objective to generate an organic cash flow greater than
7.8 billion euros
key indicators for the 3rd quarter 2008
Commenting on the third quarter results, Didier Lombard, France Telecom Chairman and Chief Executive
Officer, stated:
"With third quarter revenue growth of 2.3%, the Group has for the fourth consecutive
quarter maintained a level of activity that outperformed the estimated average
GDP across the Group's worldwide footprint. In France, thanks to our strong focus
on commercial activities, our mobile sales have increased by around 6% with almost
400,000 additional subscribers, while in ADSL services we have passed the 8
million customer mark. Thanks to the diversity of its international footprint
and the balance between mobile and fixed-line operations, our business activities
are well-positioned to face the global economic situation, despite the difficult
environment in Spain and in some emerging countries. The gross operating margin
rate for the first nine months of the year remained stable even with the specific
commercial costs in France announced this summer concerning the acquisition of
content and handset subsidies, and despite the impact of new regulations.
Following the excellent performance recorded in the first half, the third quarter
results are fully in line with our 2008 objectives both in terms of the stabilisation
of our gross operating margin rate and the generation of more than 7.8 billion
euros in organic cash flow.
This solid performance is the result of the profound transformation of Group
since 2006 that has involved the full commitment on a daily basis of the entire
workforce on every level.".”
