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February 24, 2010

France Telecom revenues down 3.7% in 2009

Net income down 26.3% on year ago

By CBR Staff Writer

France Telecom consolidated revenues were down by 3.7% to €45.94bn in 2009, excluding operations in the UK that are to be merged with T-Mobile. Including the UK, consolidated revenues were €50.952bn.

Earnings before interest, taxes, depreciation and amortization or EBITDA decreased by 4.4% to €16.33bn from €17.08bn in 2008, while operating income decreased to €7.85bn from €9.94bn. The company posted a net income of €2.99bn, a decrease of 26.3% compared to €4.069bn in 2008.

Excluding regulatory measures, revenues from France region grew by 1.6%, Romania region revenues dropped by 16.7%, while African region revenues increased by 5.8% and Western Europe region revenues rose by 3.1%.

Geographically, France revenues were down by 0.4% to €23.63bn, compared to €23.72bn in 2008. Revenues from UK were €5.1bn, down 13.8% compared to €5.92bn while revenues from Spain were €3.8bn, compared to €4.06 in the same period last year.

For the fourth quarter, the company reported revenue of €11.54bn, a drop of 5.8% compared to €12.25bn of the same period last year.

Didier Lombard, chairman and chief executive officer of France Telecom, said: “The Group’s performance in 2009 confirms the strategy undertaken in 2005 to position the company as an integrated operator. Since then, the Group has significantly increased its customer base and its geographical footprint while capitalising on new technologies, thus enabling the Group to look to the future with confidence.”

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