Orange reported a revenue increase of 0.3 percent in the first half of 2025, reaching €19.85 billion, driven by a 2.1 percent growth in retail services and a smaller decline in wholesale services.
Orange CEO Christel Heydemann said: “This performance is the result of our Lead the Future strategy and reflects our efforts to improve our operational efficiency. Our commercial performance was excellent in France, Europe and Africa & Middle East. In France, our mobile networks were ranked number one for the 14 th time in a row.”
The Africa & Middle East segment was the main contributor to growth with a 12.8 percent rise in revenue to €4,140 million, supported by robust gains in mobile data, fixed broadband, Orange Money, and B2B services.
France saw a 2.2 percent decline to €8,569 million due to expected wholesale service reductions and lower equipment sales, though retail services excluding PSTN rose by 0.9 percent.
European revenues remained stable at €3,495 million, with improvements in retail and IT & integration services.
Orange Business revenues fell by 5.4 percent to €3,691 million, mainly from declines in fixed and mobile services, despite growth in cybersecurity.
TOTEM posted a 4 percent revenue increase to €363 million, while International Carriers & Shared Services saw a 9.6 percent drop.
MASORANGE in Spain recorded a 6.8 percent revenue increase and double-digit EBITDAaL growth.
Overall, Orange Group raised its full-year EBITDAaL growth target to above 3 percent, reflecting strong performance in key markets, especially Africa & Middle East.
Customers
Orange added a significant number of customers across key segments in the first half of 2025. The Group’s total mobile accesses increased by 6.4 percent year-on-year to 261.6 million, including 98.1 million contract customers, which grew by 7.8 percent.
The fixed broadband customer base rose by 4.4 percent to 22.4 million, with very high-speed broadband reaching 15.5 million customers, marking a strong 13.3 percent growth.
Convergent customers grew by 1.5 percent to 9.2 million.
In France, the second quarter saw net additions of 116,000 mobile customers, 29,000 fixed broadband lines, and 15,000 convergent offers.
In Europe, the quarter brought 132,000 new mobile customers and 15,000 new fixed broadband lines, including 55,000 fiber connections.
The Africa & Middle East segment showed continued momentum with the mobile customer base rising by 6.9 percent to 166.7 million, while 4G users grew by 20.2 percent.
Fixed broadband customers in the region increased by 23.1 percent to 4.4 million, and Orange Money reached 42.8 million active users, up 20 percent.
In Spain, MASORANGE added 30,000 new fiber lines and 23,000 postpaid mobile lines, contributing to the Group’s overall positive customer growth.
ARPU
Orange reported growth in average revenue per user (ARPU) across several segments in the first half of 2025. In France, convergent ARPU rose by €1.4 year-on-year to €77.9, reflecting strong commercial performance and increased customer value.
The mobile ARPU in Africa & Middle East increased by 6.2 percent, supported by higher adoption of 4G services, which saw 20.2 percent growth in users. The convergent ARPU in Europe also improved, particularly in Poland, where it rose by 4.5 percent. These ARPU gains were driven by expanding high-value service adoption, strong customer retention, and improved product mix across key markets.
Capex
Orange’s economic capital expenditure (eCAPEX) reached €3.02 billion in the first half of 2025, marking a 4.1 percent increase, primarily driven by investment to support growth in Africa & Middle East region. eCAPEX for telecom activities represented 15.2 percent of revenues.
Capex in Africa & Middle East rose 14.8 percent to €774 million.
In France, eCAPEX declined by 2.1 percent to €1,418 million, reflecting disciplined investment while maintaining a stable eCAPEX-to-revenue ratio of 16.5 percent.
In Europe, excluding Spain, eCAPEX rose by 2.6 percent to €522 million.
TOTEM also increased its investment by 11.4 percent to support its site growth strategy. Overall, Orange maintained a balanced investment approach, focusing on strategic priorities like fiber and 5G rollout, especially in high-growth regions.
Baburajan Kizhakedath
