- Total number of shares and voting rights at April 30, 2026
May 6, 2026
Orange
6 May 2026
Orange: information on the total number of shares and voting rights referred to in Article L.233-8 II of the French Commercial Code and Article 223-16 of the General Regulations of the Autorité des Marchés Financiers.
In application of Article L. 22-10-46 of the French Commercial Code (Code de commerce), as from 3 April 2016, a double voting right is automatically granted to fully paid-up shares that have been held in registered form and under a single shareholder name for at least two years.
Date Number of shares Number of treasury shares without voting rights Theoretical number of voting rights [1] Number of voting rights exercisable 01/31/2026 2,660,056,599 1,457,248 3,180,394,670 3,178,937,422 02/28/2026 2,660,056,599 1,756,848 3,181,578,829 3,179,821,981 03/31/2026 2,660,056,599 1,756,848 3,179,834,278 3,178,077,430 04/30/2026 2,660,056,599 773,640 3,182,170,153 3,181,396,513
[1] Calculated in accordance with the last paragraph of Article 223-11 of the General Regulations, on the basis of all the shares to which voting rights are attached, including shares without voting rights.
Attachment
20260430_Information on number of shares and voting rights
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- Orange: Orange announces the signing of a €1.3 billion financing agreement with CaixaBank and BNP Paribas, intended for the acquisition of Scorefit
Apr 28, 2026
Orange
Press release
Paris, 28 April 2026
Orange announces the signing of a €1.3 billion financing agreement with CaixaBank and BNP Paribas, intended for the acquisition of Scorefit
Orange has engaged in discussions with its banking partners to finance the exercise of its option to acquire Scorefit1 shares for a total of €1.3 billion. Scorefit is fully owned by a BNP Paribas subsidiary and possesses fiber access purchased on the wholesale market in France for Orange.
In this context, and to optimize its cost of capital, Orange announces the signing of a 5-year financing agreement for a total of €1.3 billion with CaixaBank and BNP Paribas under very attractive financial conditions.
The acquisition of Scorefit thus simplifies the Group’s financial structure with a positive value effect.
These operations are part of the implementation of the efficiency plan and the financial trajectory of the copper-to-fiber transition presented at the Capital Markets Day, and they help strengthen Orange’s financial flexibility.
About Orange
Orange is one of the world’s leading telecommunications operators. The Group aims to be the trusted partner for everyday digital life by providing individuals, businesses and communities with reliable connectivity and innovative services. As of the end of 2025, Orange connects 340 million customers (including MasOrange) across 26 countries and generated 40.4 billion euros in revenues.
As a trusted player, Orange leverages the excellence of its very high-speed broadband networks to deploy digital infrastructure in Europe, Africa and the Middle East. The Group is a European leader in fiber, with 100 million connectable households, and convergent offers. In France, Orange connects 34 million customers and was ranked No. 1 by the regulator Arcep for the quality of its mobile network for the 15th consecutive year. In Africa and the Middle East, the Group’s growth engine, Orange serves nearly 180 million customers and promotes digital and financial inclusion through its connected solutions.
Under the Orange Business brand, the Group supports companies in transforming their networks as well as in AI, trusted cloud and cybersecurity. Orange is also a major player in the wholesale market, where it has a leading global telecom infrastructure and significant capabilities for deploying and operating submarine cables. A committed innovator, Orange relies on 700 researchers and holds a portfolio of 11,000 patents.
Orange is listed on Euronext Paris (symbol ORA). More information: www.orange.com.
Orange and any other Orange product or service names mentioned in this material are trademarks of Orange or Orange Brand Services Limited.
Story Continues
Press contacts:
Eric Fohlen-Weill; eric.fohlen-weill@orange.com
Tom Wright; tom.wright@orange.com
1 Orange notified BNP Paribas of its intention to exercise its option to acquire Scorefit shares on March 24, 2026. The completion of the operation, expected in the third quarter, is subject to prior approval from the relevant administrative authorities, including competition authorities.
Attachment
CP_ORANGE_SCOREFIT_EN_280426
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- Nokia Alliances With Orange And RUCKUS Test AI Network Rerating
Apr 26, 2026
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Nokia Oyj (HLSE:NOKIA) is expanding its AI driven network offering through new alliances with Orange SA and RUCKUS Networks. With Orange, Nokia plans to co develop AI powered 5G radio access network technologies using its anyRAN software and NVIDIA AI infrastructure. With RUCKUS Networks, Nokia is providing early access to an integrated Wi Fi 7 and Fiber Optical LAN solution aimed at high bandwidth enterprise use cases.
Nokia enters these agreements with its share price at €8.946 and a value score of 1, alongside recent share price moves such as a 30.3% return over the past month and 61.9% year to date. Returns of 110.6% over 1 year and 155.5% over both 3 years and 5 years indicate that the stock has already experienced a significant rerating in the market.
For investors, the focus is on how much of this AI and cloud driven growth story is already reflected in HLSE:NOKIA and how much depends on execution with partners like Orange and RUCKUS. Future updates on customer adoption, deployment scale and revenue mix from these AI related offerings will be key checkpoints for assessing the durability of this newer leg of the business.
Stay updated on the most important news stories for Nokia Oyj by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Nokia Oyj.HLSE:NOKIA Earnings & Revenue Growth as at Apr 2026
We've flagged 4 risks for Nokia Oyj. See which could impact your investment.
Nokia’s new alliances line up closely with where its Q1 2026 results are coming from. The company reported €4,497m of sales and net income of €86m, after a net loss of €59m a year earlier, and management highlighted strong demand from AI and cloud customers and €1b of new AI related orders. The work with Orange on AI powered radio access networks and with RUCKUS on Wi Fi 7 and fiber based LAN points in the same direction, toward higher bandwidth, software heavy networks for telecom operators and enterprises. The Cinia partnership in DDoS protection adds another piece by tying Nokia’s network visibility tools into a managed security service. For you as an investor, the key question is how much these agreements can deepen Nokia’s position with cloud players and carriers relative to competitors such as Ericsson, Huawei, Cisco or Juniper, and whether that translates into steadier, higher margin network infrastructure and security revenues over time. In the short term, investors also have fresh guidance to watch, with Nokia assuming a 5% to 9% quarter on quarter net sales increase in Q2 2026, so progress on these alliances will likely be viewed through that lens.
Story Continues
How This Fits Into The Nokia Oyj Narrative
The Orange AI RAN work and the RUCKUS and Cinia agreements align with the narrative focus on strong demand from hyperscalers, fiber build outs and private networks, as they extend Nokia’s role in high capacity optical, 5G and enterprise connectivity. Execution risk flagged in the narrative, such as pressure in Mobile Networks and competition from Asian and cloud native vendors, is directly relevant because these alliances still need to prove that Nokia can win share and maintain pricing against Ericsson, Huawei and others. The Cinia managed security service and the Wi Fi 7 optical LAN trials are concrete moves in managed services and cybersecurity that may not be fully reflected in the narrative’s emphasis on more traditional network equipment and carrier capex cycles.
Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for Nokia Oyj to help decide what it is worth to you.
The Risks and Rewards Investors Should Consider
⚠️ Nokia still faces execution risk in Mobile Networks and open RAN, where intense competition and pricing pressure could limit the benefits from AI RAN and enterprise focused partnerships. ⚠️ Analysts have flagged 4 key risks for Nokia, including profit margin pressure, insider selling and share price volatility, all of which could matter if growth from these alliances is slower than hoped. 🎁 Q1 2026 moved from a net loss of €59m a year ago to net income of €86m, with AI and cloud customers driving 49% sales growth in that segment and €1b of orders, giving Nokia more commercial proof points as it signs new alliances. 🎁 The Cinia DDoS solution and the RUCKUS Wi Fi 7 and optical LAN offering expand Nokia’s footprint in cybersecurity and in building level connectivity, potentially broadening its revenue base beyond large carrier contracts.
What To Watch Going Forward
From here, focus on how quickly these alliances turn into visible revenue, margin contribution and contract wins. For the Orange agreement, watch updates on AI RAN trials and any shift in how Orange deploys 5G and prepares for 6G. For RUCKUS and Cinia, track customer adoption of the Wi Fi 7 optical LAN and managed DDoS services and how Nokia talks about enterprise and security within its Network Infrastructure segment. Nokia’s guidance for a 5% to 9% quarter on quarter net sales increase in Q2 2026 also gives a near term reference point for how well AI and cloud related demand is feeding into the top line.
To ensure you're always in the loop on how the latest news impacts the investment narrative for Nokia Oyj, head to the community page for Nokia Oyj to never miss an update on the top community narratives.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include NOKIA.HE.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Orange: Shareholders' Meeting 19 May 2026 - Details concerning the availability of information on the Combined Ordinary and Extraordinary Shareholders' Meeting
Apr 24, 2026
Orange
Press release
Issy-les-Moulineaux, 24 April 2026
Combined Ordinary and Extraordinary Shareholders’ Meeting of
19 May 2026
Details concerning the availability of information on the Combined Ordinary and Extraordinary Shareholders’ Meeting
The Orange combined Ordinary and Extraordinary Shareholders’ Meeting will be held on Tuesday 19 May 2026 at 3:00 pm CET at the Salle Pleyel - 252, rue du Faubourg-Saint-Honoré, 75008, Paris, France.
The meeting notices were published on 27 February and 24 April 2026 in the French Bulletin des Annonces Légales Obligatoires (BALO).
All documents and information specified in article R. 225-83 of the French Commercial Code concerning the Shareholders’ Meeting can be viewed on the company’s website at: https://oran.ge/2026gm, under “2026 Combined Shareholders’ Meeting documentation”.
Shareholders can also consult the documentation mentioned in article R. 225-89 of the French Commercial code at the company’s headquarters in the Corporate legal department.
Phone: 0 800 05 10 10 from France or + 33 5 31 21 03 80 from outside France
Monday through Friday from 9:00 am CET to 6:00 pm CET
Mail: Orange – Assemblée Générale, 111 quai du Président Roosevelt - CS 70222,
92449 Issy-les-Moulineaux, France
Headquarters: 111 quai du Président Roosevelt – 92130 Issy-les-Moulineaux, France
About Orange
Orange is one of the world’s leading telecommunications operators. The Group aims to be the trusted partner for everyday digital life by providing individuals, businesses and communities with reliable connectivity and innovative services. As of the end of 2025, Orange connects 340 million customers (including MasOrange) across 26 countries and generated 40.4 billion euros in revenues.
As a trusted player, Orange leverages the excellence of its very high-speed broadband networks to deploy digital infrastructure in Europe, Africa and the Middle East. The Group is a European leader in fiber, with 100 million connectable households, and convergent offers. In France, Orange connects 34 million customers and was ranked No. 1 by the regulator Arcep for the quality of its mobile network for the 15th consecutive year. In Africa and the Middle East, the Group’s growth engine, Orange serves nearly 180 million customers and promotes digital and financial inclusion through its connected solutions.
Under the Orange Business brand, the Group supports companies in transforming their networks as well as in AI, trusted cloud and cybersecurity. Orange is also a major player in the wholesale market, where it has a leading global telecom infrastructure and significant capabilities for deploying and operating submarine cables. A committed innovator, Orange relies on 700 researchers and holds a portfolio of 11,000 patents.
Orange is listed on Euronext Paris (symbol ORA). More information: www.orange.com
Orange and any other Orange product or service names mentioned in this material are trademarks of Orange or Orange Brand Services Limited.
Story Continues
Press contacts: Tom Wright: tom.wright@orange.com
Attachment
CP Orange Availability of Documents AGM 2026
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- Orange SA (ORANY) Q1 2026 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Apr 24, 2026
This article first appeared on GuruFocus.
Group Revenue: EUR10.1 billion, up 3.5% year-on-year. EBITDA: Increased by 6.6% in Q1. France Revenue: EUR4.4 million, up 2.3% year-on-year. Retail Services Growth: 1.1% increase in France and Europe; 13% increase in Middle East and Africa. Wholesale Revenue in France: Increased by 6%, including circa EUR100 million in nonrecurring items. Africa and Middle East Revenue Growth: Double-digit increase for the 12th consecutive quarter. Europe Revenue Growth: Up 2.2% year-on-year. Convergence ARPU in Poland: Increased by 4.2% in Q1. Orange CyberDefense Growth: More than 9% increase in the quarter. MASORANGE Revenue Growth: Up 1.2% year-on-year. eCapEx to Sales Ratio: Around 15%, in line with guidance.
Warning! GuruFocus has detected 5 Warning Sign with ORANY. Is ORANY fairly valued? Test your thesis with our free DCF calculator.
Release Date: April 23, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Orange SA (ORANY) reported strong financial results for Q1 2026, with group revenues up by 3.5% and EBITDA up by 6.6%. The company upgraded its EBITDA growth guidance from circa 3% to above 3%, reflecting confidence in its financial performance. Orange SA (ORANY) is well-hedged regarding energy in Europe and benefits from high solar power adoption in Africa and the Middle East, limiting exposure to energy price volatility. The company launched several strategic initiatives, including AI systems in France and innovative offers at the Orange Business Summit, enhancing customer intimacy and growth. Orange SA (ORANY) continues to see strong performance in Africa and the Middle East, with double-digit revenue growth driven by mobile money, 4G, fixed broadband, and B2B services.
Negative Points
There is uncertainty surrounding the potential acquisition of SFR, as the process is still in negotiation and may not result in an agreement. The competitive environment in France remains challenging, particularly in the low-end market, impacting mobile ARPU. The company faces a complex regulatory environment for its potential acquisition of SFR, with no certainty on the timeline or outcome of antitrust reviews. Orange SA (ORANY) is exposed to geopolitical risks, particularly in the Middle East, which could impact operations and employee safety. The company is undergoing a significant transition with the decommissioning of 2G and copper networks in France, which may present operational challenges.
Q & A Highlights
Q: Can you provide more details on the revised offer for the Altice France acquisition and the French competitive dynamics? A: Christel Heydemann, CEO, explained that the revised offer for Altice France was submitted after due diligence and has been accepted for exclusive negotiation. The transaction is complex, involving a consortium, and discussions on legal and commercial aspects are ongoing. Regarding the French market, the competitive dynamics were less aggressive in Q1, particularly on the low end, with reduced churn across segments. The transaction is seen as crucial for market consolidation and sustaining investments in infrastructure.
Story Continues
Q: What are the expectations for mobile ARPU trends in France, and how has the Iliad offer impacted the market? A: Christel Heydemann, CEO, stated that while they don't guide on mobile ARPU trends, the market has seen less aggressive offers, particularly on the low end. The focus remains on churn reduction and upselling. The Iliad's high-end offer is not expected to change Orange's strategy significantly, as Orange has competitive offers in its portfolio.
Q: Can you elaborate on the anticipated merger review process for the SFR deal and the updated EBITDA guidance? A: Christel Heydemann, CEO, mentioned that the merger review process would involve both French and European authorities, with one likely taking the lead. The new EU merger review guidelines are seen as positive, focusing on innovation and investment. Regarding EBITDA guidance, Orange is confident in achieving above 3% growth, with further updates expected after the MASORANGE consolidation in Q2.
Q: What is driving the strong performance in Africa and the Middle East, and how is Orange managing energy costs in these regions? A: Laurent Martinez, CFO, highlighted that the strong performance in Africa and the Middle East is driven by growth in money, 4G, fixed broadband, and B2B services. Orange is well-hedged on energy costs in Europe and benefits from solar power adoption in Africa and the Middle East, mitigating exposure to energy price fluctuations.
Q: Are there any plans for non-core asset sales, and what progress has been made on the copper network shutdown? A: Christel Heydemann, CEO, stated that Orange regularly reviews its portfolio for potential asset sales, but this is not directly linked to funding needs for acquisitions. Jerome Henique, EVP, reported successful progress in the copper network shutdown, with technical shutdowns for nearly 1 million households and ongoing RFPs for future phases.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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- Orange: Orange achieved very solid first-quarter growth with revenues +3.5% and EBITDAaL +6.6%
Apr 23, 2026
Orange
Press release
Paris, 23 April 2026
Financial information at 31 March 2026
Orange achieved very solid first-quarter growth with revenues +3.5%1 and EBITDAaL +6.6%1
Revenues increased +3.5%, driven by double-digit growth in Africa & Middle East (+12.7%), and robust performances in France (+2.3%) and Europe (+2.2%) Sustained retail performance (+2.9%) in France, Europe, and Africa & Middle East Strong wholesale revenue growth (+6.1%) driven by significant fiber co-financing received in France Group's 2026 EBITDAaL guidance upgraded from c.+3% to above +3%
In millions of euros 1Q 2026 1Q 2025
comparable
basis 1Q 2025
historical
basis change
comparable
basis change
historical
basis Revenues 10,095 9,755 9,911 3.5 % 1.9 % EBITDAaL 2,601 2,440 2,480 6.6 % 4.9 % eCAPEX (excluding licenses) 1,542 1,444 1,463 6.8 % 5.4 % EBITDAaL – eCAPEX 1,059 996 1,017 6.3 % 4.1 %
“The first quarter of 2026 marked the launch of our Trust the future plan and we are fully focused on its implementation. Our very solid first-quarter results demonstrate both the performance of our teams and the relevance of our strategy.
We delivered a sustained commercial performance in Africa & Middle East, which remains the main contributor to our growth, as well as in France and Europe. In the current environment, Orange remains strong and resilient, with limited exposure to the effects of the Middle East crisis.
Our ongoing progress in operational excellence and efficiency is reflected in EBITDAaL growth and allows us to upgrade our 2026 guidance.
The full takeover of MasOrange, whose closing is expected to occur by the end of the second quarter, will further strengthen the Group’s position at the heart of Europe’s telecom market.
Furthermore, we have announced along with Bouygues Telecom and Free-iliad Group that we have entered exclusive negotiations with the Altice France group for the acquisition of SFR. This is a decisive step, even though there is no certainty at this stage that an agreement will be reached.
Our thanks go to all of Orange’s employees for these important achievements in the first quarter."
Christel Heydemann, Chief Executive Officer of Orange Group
The Board of Directors of Orange SA met on 22 April 2026 and reviewed the consolidated financial results at 31 March 2026. More detailed information on the Group's results and performance indicators is available on Orange's website at www.orange.com.
The Group delivered revenues of €10,095 million in the first quarter of 2026, up +3.5% year-on-year2 driven by growth in retail services (+2.9%) and wholesale services (+6.1%). The latter are supported by an exceptional positive effect in France, including the receipt of a significant fiber co-financing, which was included in the Group's 2026 guidance announced in February. Excluding this exceptional contribution, the Group's revenue growth in the first quarter would have been approximately +2.5%. Regarding operations, the Group's performance was mainly driven by double-digit growth in Africa & Middle East (+12.7%), as well as by growth in France (+2.3%) and in the Europe segments (+2.2%).
On the commercial front, the Group is consolidating its position as the convergence leader in Europe with 9.33 million customers, an increase of +1.9%2 compared to the previous year.
Story Continues
The Group's EBITDAaL reached €2,601 million in the first quarter of 2026, up +6.6%, driven by a solid retail services performance, ongoing operational efficiency efforts, and an exceptional positive wholesale effect in France, excluding which, the Group's EBITDAaL growth would have been approximately +3.5%.
eCAPEX was €1,542 million in first quarter 2026, representing 15.3% of revenues, in line with the 2026 target. Orange remains the undisputed leader in fiber in Europe with 59,93 million connectable households.
Commercial performance
In thousands Q1 2026 Variation
Yoy Convergent customers 9,348 1.9% Mobile accesses 275,482 7.6% Fixed accesses 37,928 (0.5)% Including very high broadband retail accesses 16,851 12.0%
Guidance
The Group is upgrading its EBITDAaL guidance and confirms its other financial objectives for 2026. These targets do not yet include the effects of the expected re-consolidation of MasOrange:
EBITDAaL2 growth above +3% (previously around +3%) eCAPEX / revenues ratio of approximately 15% Organic cash flow reaching around €4 billion Net debt/EBITDAaL ratio at around 2x in the medium term
The Group confirms these targets in the event of MasOrange re-consolidation4, with an accretive effect on organic cash flow generation and a temporary increase in the net debt/EBITDAaL ratio, while the medium-term objective remains unchanged.
In respect of the 2025 fiscal year, a dividend of €0.75 per share will be proposed at the 2026 Annual Shareholders’ Meeting, with a balance of €0.45 to be paid on June 15 (ex-dividend date June 11)
For the 2026 fiscal year, Orange has set a dividend floor of €0.79 per share, payable in 20275.
Review by operating segment</b>
France
In millions of euros 1Q 2026 1Q 2025
comparable
basis 1Q 2025
historical
basis change
comparable
basis change
historical
basis Revenues 4,397 4,297 4,297 2.3 % 2.3 % Retail services (B2C+B2B) 2,804 2,805 2,805 (0.1)% (0.1)% Convergence 1,363 1,332 1,332 2.4 % 2.4 % Mobile-only 556 570 570 (2.4)% (2.4)% Fixed-only 884 904 904 (2.2)% (2.2)% Wholesale 1,083 1,022 1,022 6.0 % 6.0 % Equipment sales 325 318 318 2.4 % 2.4 % Other revenues 184 152 152 21.1 % 21.1 %
Revenues growth fueled by retail services and wholesale services
France's revenues for the first quarter were €4,397 million, representing a +2.3% increase, or +€100 million. Retail services excluding PSTN6 increased by +1.1%. Good performances in fixed broadband and convergence offset the expected decline in PSTN services. Wholesale services grew +6% (+€61 million), supported by exceptional items of around €100 million, including the receipt of fiber co-financing, which was anticipated in the 2026 guidance.
Orange once again demonstrates the effectiveness of its commercial strategy with solid net adds: +15k in convergence, +54k in fixed broadband—the highest since Q4 2021—and +40k in mobile. Churn rates are improving: they reached their lowest level since Q2 2022 for fixed broadband and convergence, and decreased by 1.3 points for mobile to 10.9%.
With an NPS above 34 points, Orange maintains its leadership, widening the gap with the second-ranked competitor by 11 points.
Two AI services fully aligned with Trust the future's ambitions were launched in the first quarter: Sharlie, a new voice assistant for Sosh customers, and My AI Assistant (MAIA), a support tool for Orange sales teams.
Additionally, the decommissioning of 2G has begun and that of copper is entering its industrial phase with the closure of 900,000 households in January.
These very solid results confidently confirm the outlook of a “stable +” EBITDAaL in 2026.
Africa & Middle East
In millions of euros 1Q 2026 1Q 2025
comparable
basis 1Q 2025
historical
basis change
comparable
basis change
historical
basis Revenues 2,212 1,963 2,047 12.7 % 8.1 % Retail services (B2C+B2B) 2,021 1,787 1,859 13.1 % 8.7 % Mobile-only 1,708 1,506 1,569 13.5 % 8.9 % Fixed-only 281 254 264 10.7 % 6.4 % IT & Integration services 31 28 26 13.1 % 21.5 % Wholesale 156 144 151 7.7 % 2.7 % Equipment sales 24 21 26 16.7 % (5.0)% Other revenues 12 10 11 13.6 % 6.8 %
Double-digit revenue growth for the 12th consecutive quarter
In the first quarter, Africa & Middle East recorded a strong revenue increase of +12.7% (+€249 million).
This performance was driven by the rapid development of retail services (+13.1%), with the four growth engines being mobile data (+19.4%), fixed broadband (+14.5%), Orange Money (+15.7%), and B2B (+8.7%) across all activities.
11 countries in the zone posted double-digit growth.
The 2026 outlook of high single-digit EBITDAaL growth is confirmed.
Europe
In millions of euros 1Q 2026 1Q 2025
comparable
basis 1Q 2025
historical
basis change
comparable
basis change
historical
basis Revenues 1,762 1,725 1,746 2.2 % 0.9 % Retail services (B2C+B2B) 1,302 1,275 1,280 2.1 % 1.7 % Convergence 393 369 371 6.4 % 6.0 % Mobile-only 535 541 543 (1.1)% (1.5)% Fixed-only 238 243 244 (2.1)% (2.5)% IT & Integration services 136 121 122 12.2 % 11.5 % Wholesale 197 187 187 5.8 % 5.3 % Equipment sales 243 245 246 (1.1)% (1.5)% Other revenues 20 18 32 9.9 % (37.8)%
Sustained revenues growth
In the first quarter, Europe's revenues increased by +2.2% (+€37 million), mainly driven by an increase in retail services (+2.1% or +€27 million).
The momentum in retail services is supported by excellent performance in convergence (+6.4% or +€24 million) and IT and integration services (+12.2% or +€15 million), mainly in Belgium and Poland.
The Europe segment reported solid net adds in mobile (+66k), fiber (+51k), and convergence (+21k). In Poland, convergent ARPO increased by +4.2%.
The 2026 outlook for low to mid-single-digit EBITDAaL growth is confirmed.
Orange Business
In millions of euros 1Q 2026 1Q 2025
comparable
basis 1Q 2025
historical
basis change
comparable
basis change
historical
basis Revenues 1,753 1,799 1,851 (2.6)% (5.3)% Fixed-only 637 694 702 (8.2)% (9.2)% Voice 153 174 175 (12.0)% (12.7)% Data 484 520 527 (6.9)% (8.1)% IT & Integration services 888 876 920 1.3 % (3.5)% Mobile 228 229 229 (0.5)% (0.5)% Mobile-only 166 175 175 (5.1)% (5.1)% Wholesale 4 4 4 (17.6)% (17.6)% Equipment sales 59 50 50 17.2 % 17.2 %
Revenue trend improvement driven by equipment sales
In the first quarter, Orange Business revenues were to €1,753 million, a decrease of -2.6% (-€46 million), still affected by the structural decline of fixed activities but supported by strong growth in equipment sales and an increase in IT & integration services.
Orange Cyberdefense continues its strong momentum with a growth rate of +9.2%.
In the first quarter, Orange Business announced it had entered exclusive negotiations with Tech Mahindra to establish an international strategic partnership, as well as the launch of 14 innovative offers, including:
Orange Drone Guardian, the first anti-drone "as a Service" offering in Europe Live Collaboration, a sovereign collaboration suite Live Intelligence Studio, real-time intelligence based on AI agents
In a challenging market environment, the transformation of Orange Business continues with the goal of gradually improving the EBITDAaL trend.
TOTEM
In millions of euros 1Q 2026 1Q 2025
comparable
basis 1Q 2025
historical
basis change
comparable
basis change
historical
basis Revenues 177 178 178 (0.5)% (0.5)% Wholesale 177 178 178 (0.5)% (0.5)% Other revenues - - - - -
In the first quarter, TOTEM’s revenues reached €177 million, a slight decrease of 0.5% (-1 million euros); hosting revenues increased by 4.7%, while low-margin study revenues declined.
The number of sites reached 26,948 as of March 31, 2026, with a tenancy ratio of 1.47 tenants per site, representing an increase of 4 basis points over one year and in line with the target of 1.5 tenants per site in 2026.
International Carriers & Shared Services
In millions of euros 1Q 2026 1Q 2025
comparable
basis 1Q 2025
historical
basis change
comparable
basis change
historical
basis Revenues 277 283 285 (2.3)% (2.8)% Wholesale 182 183 184 (0.6)% (1.1)% Other revenues 95 100 101 (5.4)% (5.9)%
Wholesale revenues decreased by -0.6% over the first quarter (-€1 million), mainly due to the downward trend in text messaging (SMS), which was offset this quarter by good performance in voice and satellite traffic.
Other revenues decreased by 5.4% due to a weaker performance at Orange Marine.
MasOrange7
The acquisition process by Orange for all of MasOrange is ongoing, with the European Commission having approved the transaction in early April. The completion of the transaction is still anticipated for the second quarter of 2026.
MasOrange's revenues for the first quarter amounted to €1,869 million, a +1.2% increase, driven by growth in B2B services and new business areas.
The anticipated decline in retail services is mainly related to market conditions and a mix effect, with a gradual improvement in convergent ARPU observed over the quarter.
The financial ambitions and synergy targets for 2026 are confirmed.
Calendar of upcoming events
19 May 2026 - Annual Shareholders Meeting
28 July 2026 - Publication of First-Half 2026 financial results
27 October 2026 - Publication of Third-Quarter 2026 financial results
Contacts
press:
Eric Fohlen-Weill
eric.fohlen-weill@orange.comeric.fohlen-weill@orange.com
Tom Wright
tom.wright@orange.com
Fatima Rahil
fatima.rahil@orange.com financial communication:
(analysts and investors)
Constance Gest
constance.gest@orange.com
Hong Hai Vuong
honghai.vuong@orange.com
Clarisse Quellec
clarisse.quellec@orange.com
Disclaimer
This press release contains forward-looking statements about Orange’s financial situation, results of operations and strategy. Forward-looking statements are statements that are not historical facts. These statements include, without limitation, projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results and other events, prospects and statements regarding future performance. Although we believe these statements are based on reasonable assumptions, they are subject to numerous risks, uncertainties and assumptions, including matters not yet known to us or not currently considered material by us, and which could cause actual results and developments to differ materially from those expressed in, or implied or projected by, such forward-looking statements. There can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. More detailed information on the potential risks, uncertainties and assumptions that could affect our financial results include those described or identified in any public documents filed with the French Financial Markets Authority (AMF) by Orange, including the Universal Registration Document filed on 2 April 2026 with the AMF. In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements contained herein. Forward-looking statements speak only as of the date they are made. Other than as required by law, Orange does not undertake any obligation to update them in light of new information, future developments or any other reason.
Appendix 1: financial key indicators</b>
Quarterly data
In millions of euros 1Q 2026 1Q 2025
comparable
basis 1Q 2025
historical
basis variation
comparable
basis change
historical
basis Revenues 10,095 9,755 9,911 3.5 % 1.9 % France 4,397 4,297 4,297 2.3 % 2.3 % Europe 1,762 1,725 1,746 2.2 % 0.9 % Africa & Middle East 2,212 1,963 2,047 12.7 % 8.1 % Orange Business 1,753 1,799 1,851 (2.6)% (5.3)% Totem 177 178 178 (0.5)% (0.5)% International Carriers & Shared Services 277 283 285 (2.3)% (2.8)% Intra-Group eliminations (483) (490) (492) EBITDAaL (1) 2,601 2,440 2,480 6.6 % 4.9 % As % of revenues 25.8 % 25.0 % 25.0 % 0.8 pt 0.7 pt eCAPEX 1,542 1,444 1,463 6.8 % 5.4 % As % of revenues 15.3 % 14.8 % 14.8 % 0.5 pt 0.5 pt EBITDAaL - eCAPEX 1,059 996 1,017 6.3 % 4.1 % (1) EBITDAaL presentation adjustments are described in Appendix 2.
Appendix 2: adjusted data to income statement items</b>
Quarterly data
1Q 2026 1Q 2025
historical basis In millions of euros Adjusted data Presentation adjustments Income statement Adjusted data Presentation adjustments Income statement Revenues 10,095 - 10,095 9,911 - 9,911 External purchases (4,033) - (4,033) (4,006) (1) (4,007) Other operating income 258 - 258 182 - 182 Other operating expense (208) (11) (219) (95) (1) (97) Labor expenses (2,155) (25) (2,180) (2,157) (1,582) (3,739) Operating taxes and levies (918) (10) (928) (904) (904) Gains (losses) on disposal of fixed assets, investments and activities na 69 69 na (1) (1) Restructuring costs na (26) (26) na (109) (109) Depreciation and amortization of financed assets (14) - (14) (29) - (29) Depreciation and amortization of right-of-use assets (362) - (362) (356) - (356) Impairment of right-of-use assets (3) - (3) - - - Interest expenses on liabilities related to financed assets (1) 1 na (3) 3 na Interest expenses on lease liabilities (58) 58 na (63) 63 na EBITDAaL 2,601 55 na 2,480 (1,628) na Significant litigation (10) 10 na (0) na Specific labour expenses (25) 25 na (1,582) 1,582 na Fixed assets, investments and business portfolio review 69 (69) na (1) 1 na Restructuring program costs (26) 26 na (109) 109 na Acquisition and integration costs (10) 10 na (2) 2 na Interest expenses on liabilities related to financed assets na (1) (1) na (3) (3) Interest expenses on lease liabilities na (58) (58) na (63) (63)
Appendix 3: economic CAPEX to investments in property, plant and intangible investment</b>
In millions of euros 1Q 2026 1Q 2025
historical
basis Investments in property, plant and equipment and intangible assets 1,696 1,714 Financed assets (1) (12) Proceeds from sales of property, plant and equipment and intangible assets (154) (60) Telecommunication licenses (0) (179) eCAPEX 1,542 1,463
Appendix 4: key performance indicators</b>
In thousand, at the end of the period March 31
2026 March 31
2025 Number of convergent customers 9,348 9,172 Number of mobile accesses (excluding MVNOs) (1) 275,482 256,027 o/w Convergent customers mobile accesses 16,375 15,925 Mobile only accesses 259,106 240,101 o/w Contract customers mobile accesses 104,114 95,716 Prepaid customers mobile accesses 171,368 160,310 Number of fixed accesses (2) 37,928 38,135 o/w Fixed Retail accesses 26,814 26,593 o/w Fixed Broadband accesses 23,080 22,117 o/w Very high‑speed broadband fixed accesses 16,851 15,044 Convergent customers fixed accesses 9,348 9,172 Fixed accesses only 13,731 12,944 o/w Fixed Narrowband accesses 3,734 4,476 o/w Fixed Wholesale accesses 11,114 11,542 Group total accesses (1+2) 313,410 294,162 2025 data is on a comparable basis.
Key performance indicators (KPI) by country are presented in the "Orange investors data book Q1 2026" available on www.orange.com, under Finance/Results: www.orange.com/en/latest-consolidated-results
Appendix 5: glossary</b>
Key figures
Data on a comparable basis: data based on comparable accounting principles, scope of consolidation and exchange rates are presented for previous periods. The transition from data on an historical basis to data on a comparable basis consists of keeping the results for the period ended and then restating the results for the corresponding period of the preceding year for the purpose of presenting, over comparable periods, financial data with comparable accounting principles, scope of consolidation and exchange rate. The method used is to apply to the data of the corresponding period of the preceding year, the accounting principles and scope of consolidation for the period just ended as well as the average exchange rate used for the income statement for the period ended. Changes in data on a comparable basis reflect organic business changes. Data on a comparable basis is not a financial aggregate as defined by IFRS and may not be comparable to similarly named indicators used by other companies.
Retail services (B2C + B2B): aggregation of revenues from (i) Convergent services, (ii) Mobile-only services, (iii) Fixed-only services and (iv) IT & integration services (see definitions). Retail Services (B2C+B2B) revenues include all revenues of a given scope excluding revenues from wholesale services, equipment sales and other revenues (see definitions).
EBITDAaL or “EBITDA after Leases”: operating income (i) before depreciation and amortization of fixed assets, effects resulting from business combinations, impairment of goodwill and fixed assets, share of profits (losses) of associates and joint ventures, (ii) after interest on debts related to financed assets and on lease liabilities, and (iii) adjusted for significant litigation, specific labor expenses, fixed assets, investments and businesses portfolio review, restructuring programs costs, acquisition and integration costs and, where appropriate, other specific elements. EBITDAaL is not a financial aggregate as defined by IFRS standards and may not be directly comparable to similarly named indicators in other companies.
eCAPEX or “economic CAPEX”: investments in property, plant and equipment and intangible assets excluding telecommunication licenses, excluding dismantling assets, excluding financed assets and excluding assets acquired through a business takeover, minus the price of disposal of fixed assets. eCAPEX is not a financial performance indicator as defined by IFRS standards and may not be directly comparable to indicators referenced by similarly named indicators in other companies.
Organic Cash Flow (telecoms activities): organic cash flow all-in from telecom activities corresponds, for the perimeter of the telecoms activities, to net cash provided by operating activities, minus (i) lease liabilities repayments and debts related to financed assets repayments, and (ii) purchases and sales of property, plant and equipment and intangible assets, net of the change in the fixed assets payables, (iii) excluding telecommunication licenses paid and significant litigations paid or received. Organic cash flow (telecoms activities) is not a financial aggregate defined by IFRS and may not be comparable to similarly named indicators used by other companies.
Free cash flow all-in (telecoms activities): free cash flow all-in from telecom activities corresponds to net cash provided by operating activities, minus (i) purchases and sales of property, plant and equipment and intangible assets, net of the change in the fixed assets payables, (ii) repayments of lease liabilities and on debts related to financed assets, and (iii) payments of coupons on subordinated notes. Free cash flow all-in from telecom activities is not a financial aggregate defined by IFRS and may not be comparable to similarly named indicators used by other companies.
Adjusted consolidated net income: adjusted consolidated net income corresponds to the consolidated net income (i) before the effects of significant litigation, specific labor expenses, review of fixed assets, investments and business portfolio, restructuring programs costs, acquisition and integration costs, (ii) before the effects resulting from business combinations, (iii) before impairment losses recognized as part of asset impairment tests, (iv) before amortization and impairment losses of other intangible and tangible assets related to business combinations, (v) before amortization and impairment losses of the copper network dismantling asset in France, (vi) before the net income from discontinued operations and, (vii) where appropriate, before other significant specific items, (viii) restated for the effects of these adjustments on financial result and income taxes. Adjusted consolidated net income is not a financial aggregate defined by IFRS and may not be comparable to similarly named indicators used by other companies.
Adjusted earnings per share (EPS) – Group share Net income – Basic: adjusted earnings per share are calculated by dividing (i) adjusted net income for the year attributable to the shareholders of the Group, after deduction of the effect of coupons on subordinated notes, (ii) by the weighted average number of ordinary shares outstanding during the period. Adjusted earnings per share is not a financial aggregate defined by IFRS and may not be comparable to similarly named indicators used by other companies.
Earnings per share (EPS) – Group share Net income – Basic: basic earnings per share are calculated by dividing (i) net income for the year attributable to the shareholders of the Group, after deduction of the effect of coupons on subordinated notes, by (ii) the weighted average number of ordinary shares outstanding during the period.
Return On Capital Employed (ROCE): ROCE (Return On Capital Employed) from telecoms activities corresponds to Net Operating Profit After Tax (NOPAT) for the year ended (N) divided by Net Operating Assets (NOA) for the previous year (N-1).
Net Operating Profit After Tax (NOPAT) for the year ended (N) corresponds to operating profit (i) after interest on lease liabilities and on debts related to financed assets, and (ii) after income tax adjusted for the tax impact of financial income excluding interest on lease liabilities and on debts related to financed assets (tax charge calculated on the basis of the statutory tax rate applicable in France, the tax jurisdiction of the parent company Orange SA).
Net Operating Assets (NOA) for the previous year (N-1) correspond to (i) equity and (ii) financial liabilities and derivative liabilities (non‑current and current), excluding debts on financed assets, (iii) less financial assets and derivative assets (non‑current and current), cash and cash equivalents, including investments in Mobile Financial Services.
ROCE from telecoms activities is not a financial aggregate defined by IFRS and may not be comparable to similarly named indicators used by other companies.
Performance indicators
Fixed retail accesses: number of fixed broadband accesses (FTTx, cable, xDSL, Fixed-4G / Fixed-5G, satellite and others) and fixed narrowband accesses (mainly PSTN).
Fixed wholesale accesses: number of fixed broadband and narrowband wholesale accesses operated by Orange.
Convergence
Convergent services: customer base and revenues from B2C Convergent retail offers, excluding equipment sales (see definition) defined as an offer combining at least a broadband access (FTTx, cable, xDSL, Fixed-4G / Fixed-5G with cell-lock…) and a mobile voice contract.
Convergent ARPO: average quarterly revenues per convergent offer (ARPO) calculated by dividing revenues from retail Convergent services offers invoiced to B2C customers generated over the past three months (excluding IFRS 15 adjustments) by the weighted average number of retail Convergent offers over the same period. ARPO is expressed by monthly revenues per convergent offer.
Mobile-only services
Mobile-only services: revenues from mobile offers (mainly outgoing calls: voice, SMS and data) invoiced to retail customers, excluding convergent services and equipment sales (see definitions). The customer base includes customers with a contract excluding retail convergence, machine-to-machine contracts and prepaid cards.
Mobile-only ARPO: average quarterly revenues from Mobile-only (ARPO) calculated by dividing revenues from Mobile-only retail services (excluding machine-to-machine and IFRS 15 adjustments) generated over the past three months by the weighted average of Mobile-only customers (excluding machine-to-machine) over the same period. The ARPO is expressed as monthly revenues per Mobile-only customer.
Fixed-only services
Fixed-only services: revenues from fixed retail offers, excluding B2C convergent offers and equipment sales (see definitions). It includes (i) fixed narrowband services (conventional fixed telephony), (ii) fixed broadband services, and (iii) business solutions and networks (with the exception of France, for which essential business solutions and networks are supported by Orange Business segment). For the Orange Business segment, Fixed-only service revenues include sales of network equipment related to the operation of voice and data services. The customer base consists of fixed narrowband and fixed broadband customers, excluding retail convergence customers.
Fixed-only Broadband ARPO: average quarterly revenues from Fixed-only Broadband (ARPO) calculated by dividing the revenue from Fixed-only Broadband retail services (excluding IFRS 15 adjustments) generated over the past three months by the weighted average of Fixed-only Broadband customers over the same period. ARPO is expressed as monthly revenues per Fixed-only Broadband customer.
IT & integration services
IT & Integration services: revenues from unified communication and collaboration services (Local Area Network and telephony, advising, integration and project management), hosting and infrastructure services (including Cloud Computing), applications services (customer relations management and other applications services), security services, video conferencing offers, machine-to-machine services (excluded connectivity) as well as sales of equipment related to the above products and services.
Wholesale
Wholesale: revenues from other carriers consists of (i) mobile services to other carriers including incoming traffic, visitor roaming, network sharing, national roaming and Mobile Virtual Network Operators (MVNOs), (ii) fixed services to other carriers including national networking, services to international carriers, high-speed and very high-speed broadband access (fibre access, unbundling of telephone lines and xDSL access sales) and the sale of telephone lines on the wholesale market, and (iii) equipment sales to other carriers.
Equipment sales
Equipment sales: revenues from all mobile and fixed equipment sales, excluding (i) equipment sales associated with the supply of IT & Integration services, (ii) sales of network equipment related to the operation of voice and data services in the Orange Business operating segment, (iii) equipment sales to other carriers, and (iv) equipment sales to dealers and brokers.
Other revenues
Other revenues: revenues including (i) equipment sales to external dealers and brokers, (ii) revenues from portals, online advertising and transverse activities of the Group, (iii) revenues from the removal of copper cables, and (iv) other miscellaneous revenues.
1 Including positive non-recurring items in wholesale France of c.€100m in revenues and c.€75m in EBITDAaL. Excluding these items, the Group underlying growth would be c.+2.5% in revenues and c.+3.5% in EBITDAaL.
2 on a comparable basis
3 excluding MasOrange
4 subject to closing in the second quarter of the year 2026
5 subject to approval by the Annual Shareholders Meeting
6 Public Switched Telephone Network
7 MasOrange has been consolidated using the equity method since the second quarter of 2024
Attachment
PR_ORANGE_Q1_2026_EN_220426
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- JPM stays constructive on French telcos with or without consolidation
Apr 17, 2026
Investing.com -- J.P. Morgan maintained “overweight” ratings on Orange SA and Bouygues on Friday, arguing both stocks offer double-digit equity free cash flow compound annual growth rates on a standalone basis, even if a long-anticipated break-up of SFR fails to materialize.
Bloomberg reported this week that a revised consortium bid for SFR could materialise within "coming days," after Bouygues, Iliad and Orange completed due diligence in March.
The October 2025 offer of €17 billion for SFR’s core telecoms unit, which the consortium argued implied €21 billion for the whole of SFR, was rejected by the operator.
La Tribune reported the new offer would need to exceed €23.6 billion to bypass newly installed independent board members.
J.P. Morgan analysts set a December 2027 price target of €62 for Bouygues, currently trading at €52.52, and €21 for Orange, trading at €18.09. Bouygues trades on a 13% EFCF yield and 10x price-to-earnings, while Orange’s 2028E EFCF guidance implies an 11% yield.
Separately, Bloomberg reported on April 8 that initial bids for SFR’s fibre unit XpFibre ranged around €8 billion, below Patrick Drahi’s previously targeted €9-10 billion.
J.P. Morgan values XpFibre at 15x EV/EBITDA, implying a €7.6 billion enterprise value and SFR’s 50% equity stake at €1.3 billion, insufficient to cover SFR’s €0.9 billion 2028 and €2.6 billion 2029 debt maturities.
The brokerage estimated run-rate merger synergies from a Bouygues-SFR combination at €1.4 billion annually, representing approximately 9.5% of the combined opex and capex base, consistent with prior European 4-to-3 consolidation deals.
Applying a 50% discount to reflect deal complexity produced a discounted net present value of €6.6 billion and an implied deal value of €20.5 billion for SFR.
On deal perimeter, the original bid split the price as Bouygues 43%, Iliad 30% and Orange 27%. J.P. Morgan said the mathematics screen most favourably for Bouygues, given its weaker fixed-line position and smaller market capitalisation relative to Orange, €10.6 billion enterprise value versus €48.5 billion.
France’s competitive landscape underscores the consolidation rationale. The French telecoms market posted industry revenue declines of 2% in 2025, with a sector return on capital employed of 4%, compared with 2% revenue growth and 12% ROCE in the Netherlands, where KPN trades at approximately 9x EV/EBITDA versus 5.2x for Bouygues.
French regulators have signalled openness. Competition Authority President Benoît Cœuré stated the regulator "would consider the deal without sticking to (their) positions of nine years ago."
Story Continues
The European Commission is targeting new merger guidelines by summer 2026 that give greater weight to "innovation, investment, and resilience of the internal market."
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- Orange (ENXTPA:ORA) Valuation Check After Strong Multi‑Period Shareholder Returns
Mar 15, 2026
Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge.
Orange stock performance snapshot
Orange (ENXTPA:ORA) has attracted attention after recent trading, with the share price last closing at €17.52. Investors are weighing this move against its recent returns over the past month and the past 3 months.
See our latest analysis for Orange.
Beyond the latest move, Orange’s 90 day share price return of 26.41% sits alongside a year to date share price return of 22.18%. Its 1 year total shareholder return of 56.78% and 5 year total shareholder return of 134.98% point to momentum that long term holders have already experienced.
If Orange’s recent run has you thinking about what else is out there, this could be a good moment to scan 99 top founder-led companies for other compelling ideas beyond telecoms.
With Orange trading near its analyst price target yet showing a 47% intrinsic discount estimate, the key question is whether the recent gains leave more value on the table or whether the market is already pricing in future growth.
Most Popular Narrative: 10.5% Overvalued
Orange’s most followed narrative pegs fair value at €15.85, which sits below the current €17.52 share price and sets up a clear valuation gap to test.
• Analysts are assuming Orange's revenue will grow by 1.0% annually over the next 3 years.
• Analysts assume that profit margins will increase from 2.3% today to 8.3% in 3 years time.
• Analysts expect earnings to reach €3.4 billion (and earnings per share of €1.28) by about January 2029, up from €911.0 million today. The analysts are largely in agreement about this estimate.
• In order for the above numbers to justify the price target of the analysts, the company would need to trade at a PE ratio of 15.4x on those 2029 earnings, down from 42.7x today. This future PE is lower than the current PE for the US Telecom industry at 42.7x.
• Analysts expect the number of shares outstanding to remain consistent over the next 3 years.
• To value all of this in today's terms, we will use a discount rate of 7.75%, as per the Simply Wall St company report.
Read the complete narrative.
Curious how slow top line expectations can still support a higher earnings profile and a lower future P/E? The narrative leans heavily on margin rebuild and disciplined discounting assumptions that may surprise you.
Result: Fair Value of €15.85 (OVERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, those margin and earnings assumptions could be knocked off course if wholesale revenue pressure in France persists or if French and Spanish consolidation triggers tougher antitrust conditions and higher financing costs.
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Find out about the key risks to this Orange narrative.
Another angle on Orange’s value
That €15.85 fair value from the narrative leans on analyst assumptions, but our DCF model points in a very different direction. On those cash flow estimates, Orange at €17.52 is described as trading 46.7% below an estimated fair value of €32.87. This is a big gap for you to judge.
Look into how the SWS DCF model arrives at its fair value.ORA Discounted Cash Flow as at Mar 2026
Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Orange for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 229 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.
Next Steps
If this mix of upside and caution leaves you on the fence, check the numbers yourself and weigh both sides. You can use 2 key rewards and 4 important warning signs to help frame your view.
Looking for more investment ideas?
If Orange has sharpened your interest, do not stop here. The screener can help you quickly spot other opportunities that fit what you want from your portfolio.
Target steadier candidates with lower volatility and fewer warning signs by checking out our 296 resilient stocks with low risk scores that might suit a more cautious approach. Hunt for quality at a sensible price using our 229 high quality undervalued stocks that filters for companies with solid fundamentals trading below estimated worth. Build a more defensive income stream by reviewing the 463 dividend fortresses that highlights higher yield payers focused on sustaining shareholder payouts.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include ORA.PA.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Foresight’s Eye-Net Achieves Positive Results in Large-Scale Public Transit Project with Renault and Orange in France
Mar 13, 2026
Foresight Autonomous Holdings Ltd.
Following a very successful collaboration, the parties are in active commercial discussions to pursue joint commercialization of the solution
Ness Ziona, Israel, March 13, 2026 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in 3D perception systems, announced that its majority-owned subsidiary, Eye-Net Mobile Ltd. (“Eye-Net”), together with Renault Group, Orange S.A. (“Orange”) and other participants, recently announced the successful completion of a large-scale live trial of the SafeCycloMove “Collision Prevention” project in the city of Bordeaux, France. The initiative is a part of Eye-Net’s ongoing collaboration with Software République to advance smart mobility innovation and support efficient urban transportation in France and across Europe.
The live trial demonstrated positive technical performance across all key parameters, including positioning accuracy, ultra-low latency, stable real-time communication, and full scalability under heavy load. These results confirm the real-world readiness of Eye-Net’s vehicle-to-everything (“V2X”) collision-prevention technology in a live public-transportation environment involving buses and cyclists.
Led by the Lab TBMouv, Bordeaux Métropole and Keolis Bordeaux Métropole Mobilités, during the trial, Eye-Net’s Software development kit was integrated into several different applications at the same time, including an app by Orange, Keolis’ TBM app for cyclists, and the Atos app installed inside buses, all in collaboration with Renault Group, Allianz, Atos SE and the Bordeaux INP. The trial took place across Bordeaux’s public transportation network. Eye-Net’s alerting system was integrated into the TBM Mobility App, a public transit navigation platform, enabling real-time data exchange between buses and cyclists to help prevent collisions with vulnerable road users, particularly in areas with obstructed visibility.
The trial evaluated the performance and reliability of cooperative collision-prevention alerts, collected feedback from real users, and assessed technical readiness and user acceptance to support broader deployment across transportation networks.
About Eye-Net
Eye-Net develops next-generation V2X collision prevention solutions and smart automotive systems to enhance road safety and situational awareness for all road users in the urban mobility environment. By leveraging cutting-edge artificial intelligence (AI) technology, advanced analytics, and existing cellular networks, Eye-Net’s innovative solution suite delivers real-time pre-collision alerts to all road users using smartphones and other smart devices within vehicles.
Story Continues
For more information about Eye-Net, please visit www.eyenet-mobile.com, or follow the Company’s LinkedIn page, Eye-Net Mobile; X (formerly Twitter), @EyeNetMobile1; and Instagram channel, Eyenetmobile1, the contents of which are not incorporated into this press release.
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing advanced three-dimensional (3D) perception and cellular-based applications. Through the Company’s controlled subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions.
Foresight’s 3D perception systems include modules of automatic calibration and dense 3D point cloud that can be applied to different markets such as automotive, defense, autonomous driving, agriculture, heavy industrial equipment and unmanned aerial vehicles (UAVs).
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on Twitter, or join Foresight Automotive on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses the real-world readiness of Eye-Net’s V2X collision-prevention technology in a live public-transportation environment involving buses and cyclists. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release.
The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Foresight's annual report on Form 20-F for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission ("SEC") on March 24, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the contents of third-party websites.
Investor Relations Contact:
Miri Segal-Scharia
CEO
MS-IR LLC
msegal@ms-ir.com
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- Total number of shares and voting rights at February 28, 2026
Mar 11, 2026
Orange
11 March 2026
Orange: information on the total number of shares and voting rights referred to in Article L.233-8 II of the French Commercial Code and Article 223-16 of the General Regulations of the Autorité des Marchés Financiers.
In application of Article L. 22-10-46 of the French Commercial Code (Code de commerce), as from 3 April 2016, a double voting right is automatically granted to fully paid-up shares that have been held in registered form and under a single shareholder name for at least two years.
Date Number of shares Number of treasury shares without voting rights Theoretical number of voting rights [1] Number of voting rights exercisable 01/31/2026 2,660,056,599 1,457,248 3,180,394,670 3,178,937,422 02/28/2026 2,660,056,599 1,756,848 3,181,578,829 3,179,821,981
[1] Calculated in accordance with the last paragraph of Article 223-11 of the General Regulations, on the basis of all the shares to which voting rights are attached, including shares without voting rights.
Attachment
20260228_Information on number of shares and voting rights
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