Orange | July 28, 2011 | Press Release
– this growth, excluding regulatory measures, was achieved despite the crises affecting operations in Egypt and Côte d’Ivoire and the unfavourable impact of the VAT increase in France from 1 January 2011, which was only partially passed through to consumers
– mobile services performed well in France (+6.2%) and Spain (+7.3%), and emerging markets grew rapidly, rising 7.8%*
– in France, the Group stabilised its mobile market share at 41% and had an estimated market share of ADSL net new additions of 22% in the second quarter
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The Group confirms its operating cash flow target of 9 billion euros for 2011 and renews its commitment to paying a dividend of 1.40 euros per share for the years 2011 and 2012. The interim dividend for 2011 is set at 0.60 euros and will be paid on 8 September 2011.
In addition, the Group announces that following the review of its European asset portfolio it has begun the process for a potential disposal of its consumer business in Switzerland. The Board of Directors will take a decision on the divestment in light of the quality of offers received.
Commenting on the first-half 2011 results, France Telecom-Orange Chairman and CEO Stéphane Richard said: “These solid first-half results reinforce our strategic plan announced last May. They demonstrate our ability to adapt to difficult market conditions and give us confidence in the future. In addition to our continued growth in Spain, we succeeded in maintaining a good performance in France, a market where we are preparing for the arrival of a fourth mobile operator while continuing our investment in very high-speed broadband. In Africa, we had to address particularly challenging political conditions in the first half, principally in Côte d’Ivoire and Egypt, however these conditions are expected to ease during the second half of the year. As previously announced, we have reviewed our European operations and are launching today the sale process of our consumer business in Switzerland.”