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Eriez Promotes Viti to Regional Sales Director for Asia-Pacific Region

Erie, April 30, 2019 (GLOBE NEWSWIRE) — Erie, PA—Eriez® Senior Director of Asia-Pacific Operations and Strategy Jaisen Kohmuench announces the promotion of Ezio Viti to Regional Sales Director for the Asia-Pacific Region (APAC).

Kohmuench says, “Ezio will be tasked with directing our APAC sales efforts, including management of sales agents, representatives and resellers within this market. This will include driving initiatives, measuring results and ensuring a focus on this geographical area which stretches from Australia through Southeast Asia.”

“In addition to his new responsibilities,” says Kohmuench, “Ezio will maintain current sales duties with Eriez-Australia.” He adds, “Ezio will report locally to the Managing Director of Eriez-Australia James Cooke and the overall strategy within the Asia-Pacific region will be coordinated at the global level.”

Viti is a mechanical engineer with more than three decades of experience applying process solutions in the mining, resources recovery, wastewater and general process industries. He previously worked at Linatex Australia Pty Ltd (now Weir Minerals) and then served as Director of Steinert Australia Pty Ltd prior to joining Eriez-Australia as Sales Director in 2017.

Kohmuench says, “While at Eriez-Australia, Ezio has been concentrating on increasing our company’s sales presence in the growing Indonesian market. The addition of the Southeast Asia region is a natural progression of his job duties and allows for the establishment of a clear and coordinated strategy within the region.” According to Eriez, Viti will work with Sales Director of Eriez-China David Fan and Sales Manager of Southeast Asia Sky Dong to coordinate the multi-office efforts.

Eriez is recognized as world authority in separation technologies. The company’s magnetic lift and separation, metal detection, fluid recycling, flotation, materials feeding, screening, conveying and controlling equipment have application in the process, metalworking, packaging, plastics, rubber, recycling, food, mining, aggregate and textile industries. Eriez manufactures and markets these products through 12 international subsidiaries located on six continents. For more information, call (814) 835-6000. For online users, visit www.eriez.com or send email to eriez@eriez.com. Eriez World Headquarters is located at 2200 Asbury Road, Erie, PA 16506.

Attachments

John Blicha
Eriez
8883003743
eriez@eriez.com

eVestment Institutional Separate Accounts Fees Report Offers Unique Insights on Asset Management Fee Discounts

ATLANTA, April 30, 2019 (GLOBE NEWSWIRE) — How much institutional investors pay in asset management fees continues to be a hot topic, but hard data about the difference between what asset managers say they charge and actual fees charged has been hard to come by. eVestment’s new report, The State of Institutional Separate Accounts Fees, aims to help.

The new report provides a comprehensive overview of fee structures across the traditional strategy landscape globally and compares stated fees from thousands of asset managers reporting to eVestment covering more than 8,000 separate accounts with actual negotiated fees charged on mandates awarded sourced from eVestment Market Lens.

As expected, quoted fees went down as the size of the mandate increased, but there was wide variety in the difference between quoted fees and actual fees across the strategies and mandate sizes reviewed. Some key findings from the report include:

  • Among the broad universes covered in the report, large discounts were found in US Small Cap Growth mandates of more than $250 million (30 basis points) and All US Small Cap Equity mandates (24 basis points).
  • The largest difference between quoted fees and negotiated fees was to be found in US Small Cap Value mandates of more than $250 million, with a difference between stated fees and negotiated fees of 34 basis points. Though the Market Lens sample size for this group was small, the difference is notable and similar to differences within other small cap segments.
  • The smallest discount among the universes covered in the report were in All US Mid Cap Equity mandates of less than $100 million, at 7 basis points.
  • All US Large Cap Equity mandates of $101 million to $250 million, US Small Cap Value mandates of less than $100 million and All US Small-Mid Cap Equity mandates of $101 million to $250 million also had discounts on the smaller side at 9 basis points each.

This information is valuable for the industry because it helps fill a key information gap in the process of vetting asset managers and awarding mandates. For asset managers, this information highlights how much they could consider discounting fees to help win a mandate, without discounting too much. For investors, this information can help them understand what reasonable fee discounts look like in the current market.

To download a copy of the report, please use this link http://info.evestment.com/l/16162/2019-04-26/3ln2bs.

If you are attending the Association of Investment Management Sales Executives (AIMSE) conference in Phoenix this week, please stop by the eVestment booth (No. 1) to learn more about this report and the other insights eVestment Market Lens provides.

About eVestment

eVestment, a Nasdaq company, provides institutional investment data, analytics and market intelligence covering public and private markets. Asset managers and general partners reach the institutional marketplace through our platform, while institutional investors and consultants rely on eVestment for manager due diligence, selection and monitoring. eVestment brings transparency and efficiency to the global institutional market, equipping managers, investors and consultants to make data-driven decisions, deploy their resources more productively and ultimately realize better outcomes.

Press Contact
Mark Scott
mscott@evestment.com
678 238 0761

New versatile multiline cameras enable 5 Gpix/sec high-speed imaging for demanding vision applications

Teledyne DALSA’s award-winning Linea ML cameras are in production now

WATERLOO, Ontario, April 30, 2019 (GLOBE NEWSWIRE) — Teledyne DALSA, a Teledyne Technologies company and global leader in machine vision technology, is pleased to announce that the first models of its newest Linea ML cameras are now in full production. The advanced multiline CMOS camera, Linea ML™ in monochrome, color, and multispectral options will transform the way line scan cameras are used in many machine vision applications.

In full production now, the Linea ML 16k monochrome model operates in single or multiple rows at a max line rate of 300 kHz, or 5 GPix/sec data throughput.  Sequential exposure with independent start and stop integration for each row allows versatile illumination configurations using the latest LED lighting technologies. The 16k color model provides high-speed, high-resolution, and high-fidelity RGB native colors without any interpolation.

“The Linea ML camera family offers versatile capabilities to meet the ever-demanding application requirements in machine vision today. In addition to mono and color imaging, the newest models include an HDR mode designed specifically to capture bright and dark scenes with improved dynamic range. Further, the time-division multifield™ imaging capability allows end-users to capture multiple images using brightfield, darkfield, backlight in a single scan,” said Xing-Fei He, Senior Product Manager.

Combined with the Xtium™2 CLHS series of high-performance frame grabbers from Teledyne DALSA, these new products represent a breakthrough  in data throughput in the industry. Built on field-proven technology, the next generation CLHS fiber optic interface provides reliable and high throughput data transmission. Fiber optic cables lower system costs, offer longer cable lengths (up to 300 m), are immune to electromagnetic radiation, and are ideal for industrial environments. Teledyne DALSA’s Xtium2 family of high-performance frame grabbers feature the PCI Express Gen 3 x8 platform.

Key Features:

  • High speed of up to 300 kHz line rate in 16k/8k resolutions, or 5 Gpix/sec
  • Mono/HDR imaging with single or dual outputs
  • Time-division multifield imaging in a single scan using sequential exposure
  • Camera Link HS fiber optic interface for high reliability and long cable data transmission
  • Lower system costs

Please visit the Linea product page for more information. For sales enquiries, visit our contact page, and for full resolution images, our online media kit.

About Teledyne DALSA’s Machine Vision Products and Services
Teledyne DALSA is a part of the Teledyne Imaging group and a leader in the design, manufacture and deployment of digital imaging components for machine vision. Teledyne DALSA image sensors, cameras, smart cameras, frame grabbers, software, and vision solutions are at the heart of thousands of inspection systems around the world and across multiple industries. For more information, visit www.teledynedalsa.com/imaging.

Teledyne Imaging is a group of leading edge companies aligned under the Teledyne umbrella. Teledyne Imaging forms an unrivalled collective of expertise across the spectrum with decades of experience. Individually, each company offers best-in-class solutions. Together, they combine and leverage each other’s strengths to provide the deepest, widest imaging and related technology portfolio in the world. From aerospace through industrial inspection, scientific research, spectroscopy, radiography and radiotherapy, geospatial surveying, and advanced MEMS and semiconductor solutions, Teledyne Imaging offers worldwide customer support and the technical expertise to handle the toughest tasks. Their tools, technologies, and vision solutions are built to deliver to their customers a unique and competitive advantage.

All trademarks are registered by their respective companies.
Teledyne DALSA reserves the right to make changes at any time without notice.

Media Contact:
Geralyn Miller
Senior Manager, Global Media Relations
Tel: +1-519-886-6001 ext. 2187
Email: geralyn.miller@teledyne.com

Sales Contacts:
Sales.americas@teledynedalsa.com
Sales.europe@teledynedalsa.com
Sales.asia@teledynedalsa.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/bff9c66f-bd38-42fa-83e9-fe2034126e3d

กล้องเชิงหลายเส้นอเนกประสงค์ใหม่สามารถถ่ายภาพด้วยความเร็วสูง 5 Gpix/วินาที เพื่อใช้งานกับแอพพลิเคชันถ่ายภาพต่างๆ

ขณะนี้ กำลังผลิตกล้อง Linea ML ที่ได้รับรางวัลของ Teledyne DALSA

เมืองวอเตอร์ลู รัฐออนแทรีโอ, April 30, 2019 (GLOBE NEWSWIRE) — Teledyne DALSA ซึ่งเป็นบริษัทหนึ่งของ Teledyne Technologies และเป็นบริษัทชั้นนำของโลกด้านทคโนโลยีแมชชีนวิชั่น มีความยินดีที่จะประกาศว่าขณะนี้กำลังผลิตอย่างเต็มที่รุ่นแรกของกล้อง Linea ML รุ่นใหม่ล่าสุดนั้นแล้ว กล้อง CMOS เชิงหลายเส้นขั้นสูง ด้วย , Linea ML™ กับตัวเลือกแบบขาวดำ แบบสี หรือแบบหลายช่วงคลื่น จะเปลี่ยนวิธีการใช้กล้องสแกนเส้นในแอพพลิเคชั่นแมชชีนวิชั่นต่างๆ

ในการผลิตเต็มรูปแบบตอนนี้ รุ่นขาวดำ Linea ML 16k ทำงานในแบบแถวเดียวหรือหลายแถว ด้วยอัตราสายสูงสุด 300 kHz หรืออัตราการรับส่งข้อมูล 5 GPix/วินาที การเปิดรับแสงอย่างต่อเนื่อง พร้อมการรวมจุดเริ่มต้นและหยุดอย่างอิสระให้กับแต่ละแถว ช่วยให้สามารถกำหนดค่าความสว่างได้หลากหลาย โดยใช้เทคโนโลยีไฟ LED ล่าสุด รุ่นสี 16k ให้ภาพสี RGB ที่ถ่ายในความเร็วสูงมีความละเอียดสูง และความเที่ยงตรงสูงโดยไม่ต้องมีการแก้ไขใด ๆ

“ตระกูลกล้อง Linea ML มีความสามารถที่หลากหลาย เพื่อตอบสนองความต้องการของแอพพลิเคชั่นด้านแมชชีนวิชั่นในปัจจุบัน นอกเหนือจากการถ่ายภาพขาวดำและสีแล้ว กล้องรุ่นใหม่ล่าสุดยังมีโหมด HDR ที่ได้ออกแบบมาโดยเฉพาะ เพื่อถ่ายภาพในสภาพแวดล้อมที่สว่างและมืด ด้วยระยะแบบไดนามิกและดีขึ้น ยิ่งไปกว่านั้น ความสามารถในการถ่ายภาพแบบแบ่งเวลา multifield™ จะช่วยให้ผู้ใช้สามารถถ่ายภาพหลายภาพด้วย brightfield, darkfield และ backlight ในการสแกนครั้งเดียว” นาย Xing-Fei He ผู้จัดการผลิตภัณฑ์อาวุโสกล่าว

โดยการใช้งานรวมกับซีรี่ส์ Xtium™2 CLHS ของเฟรมแกร็บเบอร์ที่มีประสิทธิภาพสูงจาก Teledyne DALSA ผลิตภัณฑ์ใหม่เหล่านี้แสดงให้เห็นความก้าวหน้าในอัตราการรับส่งข้อมูลในอุตสาหกรรม  ถูกสร้างขึ้นบนเทคโนโลยีที่ได้รับการพิสูจน์แล้ว อินเตอร์เฟสไฟเบอร์ออปติก CLHS รุ่นต่อไปให้การส่งข้อมูลที่น่าเชื่อถือและมีอัตราการรับส่งข้อมูลสูง สายเคเบิลใยแก้วนำแสงจะลดค่าใช้จ่ายของระบบ ให้ความยาวมากขึ้น (ถึง 300 ม.) สามารถต้านทานรังสีแม่เหล็กไฟฟ้า และเหมาะสมกับสภาพแวดล้อมอุตสาหกรรม ตระกูลเฟรมแกร็บเบอร์ Xtium2 ที่มีประสิทธิภาพสูงของ Teledyne DALSA ใช้แพลตฟอร์ม PCI Express Gen 3 x8

คุณสมบัติหลัก:

  • ความเร็วสูงถึงอัตราสาย 300 kHz ในความละเอียด 16k/8k หรือ 5 Gpix/วินาที
  • ถ่ายภาพขาวดำ/HDR ด้วยเอาต์พุตเดี่ยวหรือคู่
  • ถ่ายภาพแบบแบ่งเวลาหลายช่วงในการสแกนเพียงครั้งเดียว โดยใช้วิธีเปิดรับแสงอย่างต่อเนื่อง
  • ใช้อินเตอร์เฟสใยแก้วนำแสง Camera Link HS เพื่อความน่าเชื่อถือสูงและการส่งข้อมูลด้วยสายเคเบิลยาว
  • ลดค่าใช้จ่ายของระบบ

กรุณาเข้าชมหน้าผลิตภัณฑ์ Linea เพื่อดูข้อมูลเพิ่มเติม เพื่อสอบถามทางการขาย กรุณาเข้าชมหน้าติดต่อของเรา และเพื่อดูภาพความละเอียดเต็ม กรุณาเข้าชมชุดสื่อออนไลน์ของเรา

เกี่ยวกับผลิตภัณฑ์และบริการแมชชีนวิชั่นของ Teledyne DALSA
Teledyne DALSA เป็นส่วนหนึ่งของกลุ่ม Teledyne Imaging และเป็นผู้นำในการออกแบบ ผลิต และปรับใช้ส่วนประกอบการถ่ายภาพดิจิตอลสำหรับแมชชีนวิชั่น  เซ็นเซอร์ภาพ กล้อง กล้องสมาร์ท เฟรมแกร็บเบอร์ ซอฟต์แวร์ และโซลูชั่นการมองเห็นของ Teledyne DALSA เป็นหัวใจสำคัญของระบบตรวจสอบหลายพันแห่งทั่วโลก และในหลากหลายอุตสาหกรรม เพื่อดูข้อมูลเพิ่มเติม กรุณาเข้าชม www.teledynedalsa.com/imaging

Teledyne Imaging เป็นกลุ่มบริษัทชั้นนำที่อยู่ภายใต้การดูแลของ Teledyne.  Teledyne Imaging มีความเชี่ยวชาญที่ไม่มีใครเทียบได้ พร้อมด้วยประสบการณ์ยาวนานหลายทศวรรษ  บริษัทแต่ละแห่งเสนอโซลูชันที่ดีที่สุดในแต่ละด้าน  และเมื่อรวมตัวกัน บริษัทเหล่านี้จะใช้ประโยชน์จากจุดแข็งของกันและกัน เพื่อมอบการถ่ายภาพที่ลึกที่สุด กว้างที่สุด และพอร์ทเทคโนโลยีที่เกี่ยวข้องในโลก จากการบินและอวกาศไปจนถึงการตรวจสอบทางอุตสาหกรรม การวิจัยทางวิทยาศาสตร์ สเปกโทรสโกปี การถ่ายภาพรังสีและรังสีรักษา การสำรวจเชิงพื้นที่ และโซลูชั่น MEMS และเซมิคอนดักเตอร์ขั้นสูง Teledyne Imaging จะให้การสนับสนุนลูกค้าจากทั่วโลก และความเชี่ยวชาญด้านเทคนิคเพื่อจัดการกับงานที่ยากที่สุด เครื่องมือ เทคโนโลยี และโซลูชันการมองเห็นของพวกเขาถูกสร้างขึ้นเพื่อมอบความได้เปรียบทางการแข่งขันให้กับลูกค้าของพวกเขา

เครื่องหมายการค้าทั้งหมดได้รับการจดทะเบียนโดยบริษัทที่เกี่ยวข้อง

Teledyne DALSA ขอสงวนสิทธิ์ในการเปลี่ยนแปลงได้ตลอดเวลาโดยไม่ต้องแจ้งให้ทราบล่วงหน้า

ติดต่อสื่อ:
Geralyn Miller
ผู้จัดการอาวุโส ฝ่ายสื่อสัมพันธ์ทั่วโลก
โทร.: +1-519-886-6001 ต่อ 2187
อีเมล์: geralyn.miller@teledyne.com

ติดต่อฝ่ายขาย:
Sales.americas@teledynedalsa.com
Sales.europe@teledynedalsa.com
Sales.asia@teledynedalsa.com

ภาพที่มาพร้อมกับประกาศฉบับนี้มีอยู่ที่ http://www.globenewswire.com/NewsRoom/AttachmentNg/bff9c66f-bd38-42fa-83e9-fe2034126e3d

Aegis Security offers the world’s first mini-computer that fully protects your anonymity

LONDON, April 29, 2019 (GLOBE NEWSWIRE) — Aegis Security Manufacturing Limited starts selling the world’s first mini-computer that fully protects your anonymity on the Internet, as well as any information stored in the internal memory of the device.

Mini computer called Aegis One. This compact device contains a modern ARM Cortex 1.4Ghz processor, a full-featured 2.8-inch color display with a resolution of 320 * 240 pixels, an all-metal aluminum case and an internal memory in the range from 16 to 256Gb.Aegis One

For more than two years, Aegis Security has been developing software to reliably protect the confidentiality of its clients, which were later integrated into Aegis One. The result of the work was software systems: Aegis VPN – a private virtual network with its own server architecture with communication channels up to 1 gbit, fully secured connection and no logs; Aegis Crypt is a modern data encryption system according to the AES-XTS-PLAIN64 standard, a password is required to enter the system during the boot process; Aegis Firewall is a professionally configured firewall that blocks and filters all incoming and outgoing data.

The system is built on the Debian distribution (a kind of Linux systems), it is distinguished by a high level of reliability, a friendly interface and extensive personalization options. The system allows you to install the necessary programs for work and entertainment applications, the repository today consists of more than 1000 different programs.

An important feature is the ability to use Aegis One as a hardware wallet for storing cryptocurrency. The installed software allows you to create an account in more than 85 popular coins in minutes, while the security and encryption system will reliably protect your funds.

Aegis One is available for as low as £299, Aegis Security Manufacturing provides international free shipping worldwide, and the warranty on the device is 1 year.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/8b261486-e9ad-4504-9873-9a69318abded

A video accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/86355eeb-7062-47b1-b76e-0706c0587b50

info@aegis-security.net, +447480722640

Financial results at 31 March 2019

Press release

Paris, 30 April 2019

Financial results at 31 March 2019                                                                

Stable revenues with continued growth in EBITDAaL

Resilient sales performances, underpinned by the success of convergence and fixed and mobile broadband.

 
Q1 2019 Q1 2018
comparable
basis
Q1 2018
historical
basis
change
comparable
basis
change
historical
basis
 
In millions of euros  
Revenues 10,185 10,198 10,082 (0.1)% 1.0 %
EBITDAaL* 2,583 2,565 n/a 0.7 % n/a
eCAPEX (excluding licenses) 1,632 1,505 n/a 8.4 % n/a
Operating Cash-Flow (EBITDAaL – eCAPEX) 951 1,060 n/a (10.2)% n/a

Historical indicators (to 31 December 2018)

Adjusted EBITDA* n/a n/a 2,605   n/a n/a
CAPEX (excluding licenses) n/a n/a 1,533 n/a n/a
Operating Cash-Flow n/a n/a 1,072 n/a n/a

* Adjustments to the presentation of EBITDAaL and EBITDA are described in Appendix 2.

  • Revenues were stable in the first quarter of 2019 (-0.1% year on year) on a comparable basis, and up 0.4% restated for the impact of the digital reading offers’ promotional period.

Growth in most segments offset the slight downturn in revenues in France (-1.8% and -0.7% excluding the effect of the digital reading offers) in what continues to be a fierce promotional environment. Spain’s value positioning led to 0.4% growth, despite greater competition. Europe was up 1.4%, underpinned by convergence and IT services, whilst steady growth of 5.3% continued in Africa & Middle East due to a very solid retail services performance. Enterprise had a second consecutive quarter of growth, rising 0.6%.

  • EBITDAaL grew 0.7% year on year, despite the impact of digital reading offers. Restated for this impact, growth in EBITDAaL would be 2.8%. The EBITDAaL margin from telecoms activities improved by 0.4 points in the 1st quarter.
  • eCapex grew 8.4% to reach €1.6 billion, linked to the acceleration in the 1st quarter of the FTTH rollout in France and continued investment in 4G networks. In line with the objectives, eCapex for 2019 will be slightly lower compared to 2018, excluding the impact of the new network sharing agreement in Spain.
  • In France, net sales were positive for mobile (+19,000) and fixed (+49,000), in what continues to be an intense promotional environment.
  • Fibre’s continued success led to an increase in net sales of 168,000 in France, an all-time high for a 1st quarter, and of 114,000 in Spain.
  • In Europe, the growth in mobile contract and fixed broadband accelerated, driven by the success of Love convergent offers.
  • In Africa & Middle East, the rollout of 4G continued, having passed the 17 million-customer mark by the end of the 1st quarter, a 50% increase year on year.

Outlook for 2019

With a view to always offering our customers the best networks and seeking to create value, on 25 April, Orange signed a network-sharing agreement with Vodafone in Spain. This will extend coverage, increase capacity, prepare for the challenges of 5G and generate significant savings on network expenditure. This project will generate gross savings of €800 million over 10 years but involves an initial investment of around €300 million over 4 years (including €100 million in 2019). Overall, the expected return is high with an incremental IRR more than 3 times the WACC* of Orange Spain over 10 years. This project will be outside of the guidance.

Based on the 1st quarter 2019 results, and excluding the effects of the new network-sharing contract in Spain, Orange is re-affirming its objectives for 2019:

  • EBITDAaL growth in 2019 will be slightly lower on a comparable basis than that achieved in 2018.
  • 2019 eCAPEX will be slightly lower than that of 2018 on a comparable basis.
  • Operating Cash Flow (EBITDAaL – eCAPEX) in 2019 will be higher than in 2018 on a comparable basis.
  • The target ratio of net debt** to EBITDAaL for telecoms activities will be maintained at around 2x in the medium term.
  • The payment of a dividend of 0.70 euros per share for the fiscal year 2019 will be proposed, with an interim dividend of 0.30 euros per share to be paid in December 2019.

*WACC: weighted average cost of capital

** excluding IFRS 16 leases

Commenting on the publication of the 1st quarter 2019 results, Stéphane Richard, Chairman and CEO of the Orange Group, said:

During the first quarter, the Group succeeded in maintaining its high quality commercial performance in spite of a particularly challenging competitive context notably in our two principal countries of France and Spain. Our strategy is paying off since EBITDAal is continuing to grow while revenues remain stable, allowing us to reaffirm our 2019 objectives. It’s worth noting that while the level of eCapex for this quarter is higher, it should reduce slightly for 2019 as a whole, as predicted, excluding the effect of the network sharing agreement with Vodafone in Spain announced on 25 April.
The validity of our fibre strategy has been confirmed. We’ve accelerated deployment in France, Spain and Poland, reinforcing our European leadership position with 33.7 million connectable households, 12.4 million of which are in France. This progress can also be seen in a very positive commercial performance; in particular, France delivered another record quarter in terms of new fibre subscribers, adding a further 168,000 customers.
We have also reinforced our already strong position in mobile: some 60 million clients worldwide now enjoy our 4G network, and we continue with the deepening of our network in Europe and in Africa.
Convergence continues to be an engine for growth and loyalty for the Group. We are the European leader in this field with over 10 million customers, representing nearly 40% of our consumer revenues for the continent.
I’d also like to highlight the very solid results from our Africa and Middle East operations that once again recorded revenue growth of over 5%. Indeed, with the rapid roll-out of our 4G networks, to the benefit of 17.6 million clients, and the growing availability of affordable smartphones, mobile internet usage is taking off and accounts for two thirds of mobile revenue growth.
Finally, this quarter marks a new milestone in our multi-services operator strategy. In addition to our initiatives in mobile financial services in Africa and Europe, we have launched two new offers in France that will capitalise on our presence in the home: “Home protection” is a remote monitoring service that is already off to a very encouraging start, and “Connected home” brings together our ambitions for IoT in the home.
My warm thanks go to all of the Group’s employees who have, through their commitment, made possible these results in a challenging environment.”

Key figures

   
Q1 2019 Q1 2018
comparable
basis
Q1 2018
historical
basis
change
comparable
basis
change
historical
basis
In millions of euros   
Revenues 10.185 10.198 10.082 (0.1)% 1.0 %
Of which:
France 4,407 4,489 4,492 (1.8)% (1.9)%
Spain 1,318 1,312 1,310 0.4 % 0.6 %
Europe 1,389 1,370 1,387 1.4 % 0.1 %
Africa & Middle East 1,349 1,282 1,245 5.3 % 8.3 %
Enterprise 1,831 1,821 1,726 0.6 % 6.1 %
International Carriers & Shared Services 371 388 376 (4.4)% (1.3)%
Intra-Group eliminations  (480.00)  (464.00)  (454.00)
EBITDAaL* 2,583 2,565 n/a 0.7 % n/a
of which telecom activities 2,627 2.595 n/a 1.2 % n/a
As % of revenues 25.8 % 25.4 % n/a 0.4 pt n/a
of which Orange Bank (44) (30) n/a 46.7 % n/a
eCAPEX (excluding licenses) 1,632 1,505 n/a 8.4 % n/a
of which telecom activities 1,624 1,494 n/a 8.7 % n/a
As % of revenues 15.9 % 14.6 % n/a 1.3 pt n/a
of which Orange Bank 8 11 n/a (26.6)% n/a
EBITDAaL – eCAPEX 951 1,060 n/a (10.2)% n/a
Adjusted EBITDA* n/a n/a 2,605 n/a n/a
of which telecom activities n/a n/a 2,635 n/a n/a
As % of revenues n/a n/a 26.1 % n/a n/a
of which Orange Bank n/a n/a (30) n/a n/a
CAPEX (excluding licenses) n/a n/a 1,533 n/a n/a
of which telecom activities n/a n/a 1,522 n/a n/a
As % of revenues n/a n/a 15.1 % n/a n/a
of which Orange Bank n/a n/a 11 n/a n/a
Adjusted EBITDA – CAPEX n/a n/a 1,072 n/a n/a

* Adjustments to the presentation of EBITDAaL and EBITDA are described in Appendix 2.

The Group adopted IFRS 16 “Leases” on 1 January 2019, according to the simplified retrospective approach, without restatement of prior period comparatives. As announced on 6 February, Orange is reporting its results for the 1st quarter of 2019 applying this new standard. The income statement and the presentation of segmented information were amended accordingly (depreciation of recognised right-of-use assets and interest expense relating to lease liabilities instead of operating lease expenses with, in particular, increased expenses from the interest component).

At the same time, the adoption of IFRS 16 led the Group to adapt its financial indicators with, since 1 January 2019, EBITDAaL (EBITDA after Leases), eCAPEX (Economic CAPEX) and the adaptation of Operating Cash flow (EBITDAaL less eCAPEX). See Appendix 4 Glossary.

The figures for the 1st quarter 2019 and the 1st quarter 2018 on a comparable basis are presented according to the IFRS 16 accounting standard and historical figures for 1st quarter 2018 are presented according to the IAS 17 accounting standard.

Comments on key Group figures

Revenues

Orange Group revenues were €10.2 billion in the 1st quarter, almost unchanged on a comparable basis (-0.1%). Excluding the impact of the end of the promotional period for digital reading offers, revenues were up 0.4%, with most segments recording revenue growth, offsetting the slight erosion (-1.8%) in revenues in France. At Group level, the performance of the principal services was as follows:

Revenues from Convergence – marketed in all European countries – were €1.7 billion in the 1st quarter, up 4.6%. This improvement enabled Orange to consolidate its position as the leading convergent operator in Europe.
Revenues from mobile-only services were €2.6 billion in the 1st quarter, up 1.1%.
Revenues from fixed-only services fell 3.1% in the 1st quarter (€2.4 billion), as a result of the migration to convergent services and the slowdown in fixed narrowband services.
Revenue from IT and integration services posted accelerated growth of 6.6% in the 1st quarter (€616 million), versus the 0.8% increase in the 1st quarter of 2018. This growth was driven by the Enterprise market as well as by Poland.
Wholesale revenues fell 1.4% in the 1st quarter (€1.9 billion). This was primarily due to the decrease in international voice traffic and visitor roaming.
Revenues from equipment sales were down 8.4% (€722 million), due to lower volumes of terminal sales.

Customer base growth

There were 10.506 million convergent customers across the Group at 31 March 2019, stable year on year on a comparable basis, underpinned by very strong growth in Europe.
There were 203.781 million mobile customers at 31 March 2019, with a net addition of 163,000 in the 1st quarter.
There were 20.275 million fixed broadband customers at 31 March 2019, with a net addition of 130,000 in the 1st quarter.

EBITDAaL

Group EBITDAaL was €2.6 billion in the 1st quarter, up 0.7% on a comparable basis. EBITDAaL from telecoms activities grew 1.2%. Excluding the impact of the end of the promotional period for digital reading offers, Group EBITDAaL would have risen 2.8% and EBITDAaL from telecoms activities would be up 3.3%. This EBITDAaL growth was primarily the result of our operating efficiency plan.

eCAPEX

Group eCAPEX was €1.6 billion in the 1st quarter, up 8.4% on a comparable basis. This growth was linked to the acceleration in the 1st quarter of the rollout of FTTH in France, and with 4G network investments, allowing Orange to cement its leadership in these areas.

As a result, in the 1st quarter, the Group had 33.7 million households connected to fibre, up 29% in France, up 15% in Spain and up 32% in Poland. The Group also improved its 4G coverage with a 100% coverage rate in Belgium and Poland, 99% in France and 96.9% in Spain.

In line with the objectives, eCapex for 2019 will be slightly lower compared to 2018.

Changes in asset portfolio

In accordance with the strategy of diversifying into new services, on 1 February 2019, Orange announced the acquisition of Secure Data, the largest independent supplier of cybersecurity solutions in the United Kingdom, in order to further its ambition of becoming a leading player in this area in Europe.

2019 dividend

Confident in the Group’s financial strength, a dividend of 0.70 euros per share* for the fiscal year 2019 will be proposed, with an interim dividend of 0.30 euros per share to be paid in December 2019.

*subject to the approval of the Annual General Meeting of Shareholders.

Review by operating segment

France

Q1 2019 Q1 2018 comparable
basis
Q1 2018 historical
basis
change comparable basis Change
historical
basis
 In millions of euros
Revenues 4,407 4,489 4,492 (1.8)% (1.9)%
Retail services 2,692 2,763 2,761 (2.6)% (2.5)%
  Convergence 1,072 1,046 1,100 2.5 % (2.6)%
  Mobile Only 586 618 599 (5.2)% (2.2)%
  Fixed Only 1,034 1,099 1,061 (5.9)% (2.6)%
  Fixed Only broadband 667 678 643 (1.6)% 3.8 %
  Fixed Only narrowband 367 421 418 (12.9)% (12.3)%
Wholesale 1.3 1,288 1,293 0.9 % 0.5 %
Equipment sales 297 317 317 (6.4)% (6.4)%
Other revenues 117 121 121 (2.8)% (2.8)%

In France, broadband sales were strong and the mobile market was very resilient, despite the decline in revenues, impacted by the end of the promotional period for digital reading offers.

Revenues in France declined 1.8% in the 1st quarter of 2019, after two consecutive years of growth, primarily impacted by the end of the promotional period for digital reading offers and a slowing of equipment sales. Excluding these two elements, revenues were almost unchanged at -0.2%.

Retail services revenues were down 2.6% in the 1st quarter of 2019 due to the impact that the end of the promotional period for digital reading offers had on all components of this segment. Despite this, revenues from convergent offers rose 2.5% thanks to the solid commercial performance of convergent offers. Mobile-only revenues decreased 5.2% in the 1st quarter, impacted by migrations to convergent offers, while fixed-only broadband revenues declined 5.9%, impacted principally by the ongoing reduction in narrowband services.
Wholesale revenues grew 0.9% driven by the construction of PINs, as well as the commercialisation of our wholesale FTTH offers to third-party carriers, which offset the decline in the unbundled market and in mobile roaming.
Revenues from equipment sales were down 6.4%, due to a weaker performance on high-end equipment sales in the 1st quarter of this year.
Excluding the impact of the end of the promotional period for digital reading offers, the trend was more positive. Revenues from convergence would be up 5.6%. Convergent ARPO would be up €1.3 (at €66.8) and mobile ARPO would be up 14 cents (at €16.9), largely driven by price increases last autumn. Nonetheless, fixed-only broadband ARPO was down 32 cents year on year, due mainly to the significant increase in the relative weight of Sosh in the fixed-only broadband market.

In terms of the solid sales performances in the 1st quarter, mobile recorded 19,000 net sales and an improved churn rate, which fell by 0.7 percentage points year on year and was down 1.5 points on the previous quarter.

Fixed broadband registered 49,000 net sales in the 1st quarter, driven by a very good quarter for fibre (168,000 net sales) and the success of the Sosh Box. At 31 March 2019, Orange had 12.4 million connected households and a total of 2.8 million fibre customers.

The convergent customer base was up 3.2% year on year, reaching 5.7 million customers, and the churn rate of convergent customers was 3.2 percentage points lower than the average rate for retail fixed broadband customers.

Spain

Q1 2019 Q1 2018
comparable
basis
Q1 2018
historical
basis
change
comparable
basis
change
historical
basis
In millions of euros
Revenues 1,318 1,312 1,310 0.4 % 0.6 %
Retail services 953 947 947 0.7 % 0.7 %
  Convergence 530 524 526 1.2 % 0.9 %
  Mobile Only 296 301 299 (1.4)% (0.9)%
  Fixed Only 125 122 122 2.5 % 2.5 %
Wholesale 210 178 180 17.7 % 16.8 %
Equipment sales 155 187 183 (17.1)% (15.4)%

Orange Spain continued to report revenue growth, with retail services holding up well and higher convergent ARPO.

Orange Spain revenues rose 0.4% in the 1st quarter of 2019, underpinned by retail services revenue which increased 0.7%.
Convergent revenues increased 1.2% in the 1st quarter and convergent ARPO was up 1.8%, an acceleration on the previous period (+1.0% in Q4 2018) due to the improved customer mix driven by new offers from Orange and Jazztel and continued strength in the net sales of FTTH (+114,000).
Over the same period, mobile-only revenues fell 1.4%, as a result of strong competition affecting mobile net sales (-59,000 excluding M2M). This trend represented an improvement on the previous quarter (-2.6% in Q4 2018). Despite this highly competitive climate, Orange Spain’s value strategy enabled mobile-only ARPO to rise 0.7% in the 1st quarter, versus -0.3% in the 4th quarter of 2018.
Fixed-only revenues grew 2.5%, up sharply on the 4th quarter of 2018 (-4.4%).
Wholesale revenues rose 17.7% in the 1st quarter, propelled by steady international traffic and visitor roaming which offset the 17.1% decrease in revenues from equipment sales.

Europe

In millions of euros Q1 2019 Q1 2018 comparable basis Q1 2018 historical
basis
change comparable basis change historical basis
Revenues 1,389 1,370 1,387 1.4 % 0.1 %
Retail services 876 845 855 3.6 % 2.4 %
  Convergence 142 100 102 42.8 % 40.0 %
  Mobile Only 529 540 544 (2.0)% (2.6)%
  Fixed Only 165 175 180 (6.0)% (8.2)%
  IT & Integration services 39 30 31 31.3 % 28.1 %
Wholesale 260 283 286 (8.1)% (9.3)%
Equipment sales 203 206 208 (1.2)% (2.2)%
Other revenues 51 37 38 36.5 % 33.5 %

European revenue increased, driven by retail services accelerating as a result of convergence.

Revenues in the Europe segment (which includes Belgium, Luxembourg, Moldova, Poland, Romania and Slovakia) rose 1.4% in the 1st quarter. This increase was the result of solid growth in retail services, partly impacted by the decline in wholesale services.

Retail services revenues grew 3.6% in the 1st quarter, an acceleration over the previous quarter (+2.7% in Q4 2018).
This acceleration was the result of convergent revenues which grew 42.8%.
Mobile-only revenues declined 2.0%, an improvement compared to the 2.9% decline in the 4th quarter of 2018. This was due in particular to the 1.7% increase in the mobile contract customer base during the last 12 months (which totalled over 19 million customers, excluding M2M).
Fixed-only revenues declined 6%. Nonetheless, the broadband growth drivers are in place with the fixed broadband customer base up 9.3% over the last 12 months (reaching a total of over 3.3 million customers).
Revenues from IT and integration services continued to grow strongly in the 1st quarter (+31.3%), an acceleration over the previous quarter (+23.6% in Q4 2018).

The 8.1% decline in Wholesale revenues principally stemmed from the early termination of the Lyca/Telenet MVNO contract in Belgium and from a smaller contribution from national roaming agreements in Slovakia and Romania.

In the Europe segment, Poland reported the third consecutive quarter of revenue growth at 2.6% in the 1st quarter 2019 versus 2.1% in the 4th quarter of 2018 thanks in particular to the excellent performance of convergence services (+27%) and the development of its energy resale business. Revenues grew 3.8% in Belgium and Luxembourg in the 1st quarter, slightly slower than in the previous quarter (+5.1% in Q4 2018). Growth is still driven by net sales of mobile contracts and convergent offers, but was impacted by the previously mentioned MVNO contract termination. Revenues from Central Europe declined 1.9% in the 1st quarter, versus a 1.9% increase in the fourth quarter of 2018, due to a slowdown in wholesale services even as the performance of retail services is improving.

Africa & Middle East

Q1 2019 Q1 2018  comparable  basis Q1 2018  historical  basis change  comparable  basis change  historical  basis
In millions of euros  
Revenues 1,349 1,282 1,245 5.3 % 8.3 %
Retail services 1,125 1,044 1,016 7.8 % 10.8 %
  Mobile Only 1,005 933 910 7.7 % 10.4 %
  Fixed Only 117 108 103 8.1 % 13.9 %
  IT & Integration services 3 3 3 15.0 % 16.1 %
Wholesale 197 207 200 (4.6)% (1.5)%
Equipment sales 21 21 20 1.7 % 6.0 %
Other revenues 6 10 10 (41.6)% (40.3)%

Africa & Middle East continued on its growth trajectory with an increase in revenues driven by the solid momentum in retail services.

Africa & Middle East revenue rose 5.3% in the 1st quarter, a slight acceleration compared with the previous quarter (+5.2% in Q4 2018). Retail services grew 7.8%, mainly driven by data services and Orange Money.

Mobile-only revenues grew 7.7% in the 1st quarter with the 4G customer base reaching 17.6 million, an increase of 50% in 12 months. This growth was primarily sustained by the development of data services which account for over 2/3 of mobile-only growth.

Fixed-only revenues rose 8.1% in the 1st quarter, a marked acceleration compared to the 4.9% increase of the 4th quarter of 2018. The number of fixed broadband customers continued to grow after exceeding 1 million at the end of 2018 (1,068,000 at 31 March 2019).

Wholesale revenues fell 4.6% in the 1st quarter, an improvement compared to the 5.3% decrease in the 4th quarter of 2018. Wholesale revenues continue to be impacted by the decline in international transit activity.

Orange Money revenues climbed 29% in the 1st quarter of 2019 with the active customer base* (15.5 million) growing 20% between the 1st quarter of 2018 and the 1st of quarter of 2019.

The overall Africa & Middle East customer base remained stable with 120 million customers. The customer base continued to be impacted by customer identification regulations but had a better mix (improved charged base) and greater stability (lower churn).

New activities contributed more than a quarter of the revenue growth in Africa & Middle East. The Sonatel Group and Egypt achieved revenue increases of 8.1% and 6.5% respectively in the 1st quarter. However, Côté d’Ivoire remained under pressure with a 0.6% decline in revenues.

*customers making at least one transaction per month

Enterprise

Q1 2019 Q1 2018
comparable
basis
Q1 2018
historical
basis
change
comparable
basis
change
historical
basis
In millions of euros
Revenues 1,831 1,821 1,726 0.6 % 6.1 %
Fixed Only 986 997 989 (1.1)% (0.4)%
  Voice 327 347 349 (6.0)% (6.4)%
  Data 659 649 640 1.5 % 2.9 %
IT & Integration services 609 582 494 4.6 % 23.1 %
Mobile* 237 242 242 (2.3)% (2.3)%

Enterprise revenue increased for the second consecutive quarter due to continued growth in IT and integration services.

Revenues in the Enterprise segment increased 0.6% in the 1st quarter, the second consecutive quarter of growth. IT and integration services and data services were the primary engines of this growth.

IT and integration services revenues rose 4.6% in the 1st quarter, still fuelled by growth drivers, in particular Cyberdefense which grew 30%.

Mobile revenues* decreased 2.3% in the 1st quarter. Revenue from traditional voice and data services fell 1.1% in the 1st quarter, an improvement compared to the full year 2018 (-2.4%). This improvement, despite a decline in voice services (-6%), reflects the growth in data services revenue (+1.5%). Data services continue to be supported by SD WAN (Software Definition Wide Area Networks), a market in which Orange Business Services is confirming its leadership, in particular with new contracts including two international deployments in over 20 countries.

In accordance with our strategy of diversifying into new services, on 1 February 2019 we announced the acquisition of Secure Data, the largest independent supplier of cybersecurity solutions in the United Kingdom, in order to further our ambition of becoming a leading player in this area in Europe.

* Mobile revenues include mobile services, sales of mobile equipment invoiced to companies and incoming mobile traffic from businesses invoiced to other carriers.

International Carriers & Shared Services

Q1 2019 Q1 2018  comparable  basis Q1 2018
historical
basis
change
comparable
basis
change
historical
basis
In millions of euros
Revenues 371 388 376 (4.4)% (1.3)%
Wholesale 274 296 282 (7.7)% (2.8)%
Other revenues 97 92 94 5.0 % 2.2 %

Revenues from International Carriers and Shared Services decreased 4.4% in the 1st quarter with a decline in services to international carriers in the voice services market.

At the same time, growth in other revenues remained positive at +5.0% in the 1st quarter. Other revenues consists mainly of the laying and maintenance of submarine cables, content (OCS and Orange Studio), consulting (Sofrecom) and TV access security (Viaccess).

Schedule of upcoming events

  • 25/07/2019 – Publication of first-half 2019 results

Contacts

press: +33 1 44 44 93 93

Jean-Bernard Orsoni  jeanbernard.orsoni@orange.com

Tom Wright  tom.wright@orange.com

Olivier Emberger  olivier.emberger@orange.com

financial communications: +33 1 44 44 04 32

(analysts and investors)

Patrice Lambert-de Diesbach  p.lambert@orange.com

Isabelle Casado
isabelle.casado@orange.com

Samuel Castelo
samuel.castelo@orange.com

Luca Gaballo
luca.gaballo@orange.com

Didier Kohn
didier.kohn@orange.com

Aurélia Roussel
aurelia.roussel@orange.com

Disclaimer

This press release may contain forward-looking statements about Orange, notably on objectives and trends related to Orange’s financial situation, investments, results of operations, business and strategy. These forward-looking statements do not constitute a forecast as defined in EU Commission Regulation No. 809/2004 and although we believe these statements are based on reasonable assumptions, they are subject to numerous risks and uncertainties, including matters not yet known to us or not currently considered material by us, and 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 that could affect our financial results is included in the Registration Document filed on 21 March 2019 with the French Autorité des Marchés Financiers (AMF) and in the annual report (Form 20-F) filed on 16 April 2019 with the U.S. Securities and Exchange Commission. Other than as required by law, Orange does not undertake any obligation to update them in light of new information or future developments.

Appendix 1: analysis of consolidated EBITDAaL

1st quarter
2019
1st quarter
2018
comparable
basis
change
comparable
basis (in %)
In millions of euros
Revenues   10,185 10,198 (0.1)%
External purchases   (4,274)   (4,276) (0.0)%
as % of revenues 42.0 % 41.9 % 0.0 pt
Commercial expenses and content costs   (1,693)   (1,721) (1.6)%
as % of revenues 16.6 % 16.9 % (0.3) pt
Interconnection costs   (1,118)   (1,180) (5.3)%
as % of revenues 11.0 % 11.6 % (0.6) pt
Other network and IT expenses   (821)   (784) 4.8 %
as % of revenues 8.1 % 7.7 % 0.4 pt
Other external expenses (1)   (642)   (590) 8.7 %
as % of revenues 6.3 % 5.8 % 0.5 pt
Other operating income and expenses 43 55 (21.8)%
Labour expenses   (2,158)   (2,168) (0.5)%
as % of revenues 21.2 % 21.3 % (0.1) pt
Operating taxes and levies   (887)   (922) (3.7)%
Amortization and impairment of financed assets -1
Amortization and impairment of right-of-use assets   (297)   (296) 0.4 %
Interest expenses on lease liabilities and on liabilities related to financed assets   (29)   (28) 2.8 %
EBITDAaL (2) 2,583 2,565 0.7 %

(1) Property, overheads, other expenses and capitalized costs.
(2) Adjustments to the presentation of EBITDAaL are described in Appendix 2.

Appendix 2: table of adjusted data to the x items of the income statement

2019 data 1st quarter 2019
In millions of euros Adjusted
data
Presentation
adjustments
Income
statement
Revenues   10,185  –    10,185
External purchases   (4)  –   (4)
Other operating income   144  –   144
Other operating expense   (101)   (4)   (105)
Labour expenses   (2)   (86)   (2)
Operating taxes and levies   (887)  –   (887)
Gains (losses) on disposal  –   47   47
Restructuring and integration costs  –   (12)   (12)
Amortization of financed assets   (1)   1  –
Amortization of right-of-use assets   (297)   297  –
Impairment of financed assets  –  –  –
Impairment of right-of-use assets   (1)   1  –
Interest expenses on liabilities related to financed assets  –  –  –
Interest expenses on lease liabilities   (29)   29  –
EBITDAaL   2,583   271  – 
Significant litigation   (65)   65  –
Specific labour expenses   (20)   20  –
Review of the investments and business portfolio   47   (47)  –
Restructuring and integration costs   (12)   12  –
Acquisition and integration costs   (5)   5  –
Amortization of financed assets  –   (1)   (1)
Amortization of right-of-use assets  –   (297)   (297)
Impairment of financed assets  –  –  –
Impairment of right-of-use assets  –   (1)   (1)
Interest expenses on liabilities related to financed assets  –  –  –
Interest expenses on lease liabilities  –   (29)   (29)
2018 historical data 1st quarter 2018
In millions of euros Adjusted
data
Presentation
adjustments
Income
statement
Revenues   10,082  –    10,082
External purchases   (4,519)  –   (4,519)
Other operating income   151  –   151
Other operating expense   (74)   –   (74)
Labour expenses   (2,115)   (11)   (2,126)
Operating taxes and levies   (920)  –   (920)
Gains (losses) on disposal  –  –  –
Restructuring and integration costs  –   (16)   (16)
Adjusted EBITDA   2,605   (27)  
Significant litigation   2   (2)  –
Specific labour expenses   (13)   13  –
Review of the investments and business portfolio  –  –  –
Restructuring and integration costs   (16)   16  –
Reported EBITDA   2,578  –    2,578

Appendix 3: key performance indicators

March 31, 2019 March 31, 2018
Orange Group   historical basis
Total number of customers* (millions) 263,694 262,771
Convergent customer base (millions) 10,506 10,018
Mobile customers* (millions) 203,781 201,861
 – of which contract customers (millions) 71,676 75,255
Fixed broadband customers (millions) 20,275 19,582
 – of which high-speed broadband customers (fibre and cable in millions) 6,714 5,140
 – of which Broadband Only customers (millions) 9,769 9,564
TV customers (millions) 9,658 9,097
Orange – French market**
Mobile services
Number of customers* (millions) 33,520 32,012
 – of which contract customers (millions) 31,146 29,184
Fixed services
Number of broadband customers (millions) 11,757 11,537
Broadband market share at end of period (%) n/a 40.3%
Number of fixed line subscribers (millions) 17,708 18,263
France
Convergence
Number of customers* (millions) 5,698 5,519
Quarterly Convergent ARPO (euros) 67.0 67.5
Mobile services
Number of customers* (millions) 21,621 21,731
 – of which convergent offers customers (millions) 9,365 8,872
 – of which Mobile Only customers (millions) 12,256 12,859
Quarterly Mobile Only ARPO (euros) 16.9 17.0
Fixed services
Number of broadband customers (millions) 11,502 11,285
 – of which high-speed broadband customers (millions) 2,759 2,129
 – of which Fixed Only Broadband customers (millions) 5,805 5,766
TV customers (millions) 7,103 6,867
Quarterly Fixed Only broadband ARPO (euros) 36.4 37.5
Number of fixed line subscribers (millions) 15,373 15,714
Number of wholesale lines (millions) 12,866 13,598
Spain
Convergence
Number of customers* (millions) 3,082 3,138
Convergent ARPO (euros) 58.1 57.1
Mobile services
Number of customers* (millions) 16,187 16,079
 – of which convergent offers customers (millions) 5,841 5,827
 – of which Mobile Only customers (millions) 10,345 10,252
Quarterly Mobile Only ARPO (euros) 12.3 12.2
Number of MVNO customers (millions) 2,852 3,203
Fixed services
Number of broadband customers (millions) 4,133 4,139
 – of which FTTH customers (millions) 2,997 2,428
 – of which Fixed Only Broadband customers (millions) 1,051 1,002
TV customers (thousands) 705 641
Quarterly Fixed Only broadband ARPO (euros) 31.3 31.8
* Excluding customers of MVNOs
** Customers from Orange France and Enterprise sector in France.
*** Company estimate.
**** Europe: Poland, Belgium & Luxembourg, and Central European countries.
March 31, 2019 March 31, 2018
Europe**    
Convergence
Number of customers (millions) 1,726 1,361
Mobile services
Number of customers* (millions) 33,689 32,893
 – of which convergent offers customers (millions) 3,219 2,489
 – of which Mobile Only customers (millions) 30,471 30,405
Fixed services
Number of broadband customers (millions) 3,317 3,035
 – of which FTTH customers (millions) 851 554
 – of which Fixed Only Broadband customers (millions) 1,591 1,674
TV customers (thousands) 1,850 1,589
Afrique & Moyen-Orient
Mobile services
Number of customers* (millions) 120,385 120,876
 – of which customers with a fixed contract (millions) 4,660 11,335
Fixed services
Nomber of Fixed Broadband customers (thousands) 1,068 870
Total number of fixed lines (thousands) 953 956
Enterprises
France
Mobile services
Number of contracts* (millions) 11,899 10,281
 – of which machine-to-machine (millions) 9,013 7,492
Fixed services
Number of fixed lines (millions) 2,335 2,549
Number of IP-VPN accesses (thousands) 300 297
Number of XoIP connections (thousands) 90 85
World
Total number of IP-VPN accesses globally (thousands) 359 354

* Excluding customers of MVNOs.
** The key indicators for the European countries are shown on the Orange Group website orange.com, in the Investors section
of the document “Orange Investors data book Q1 2019”, directly accessible through the following link:
https://www.orange.com/fr/Investisseurs/Resultats-et-presentations/Folder/Tous-les-resultats-consolides

Appendix 4: glossary

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.

EBITDAaL or “EBITDA after Leases” (from January 1, 2019): consolidated net income of continuing operations before income tax, before financial costs, net, excluding interest expenses on lease liabilities and on liabilities related to financed assets, before share of profits (losses) of associates and joint ventures, before impairment of goodwill and fixed assets, before reclassification of translation adjustment from liquidated entities, before effects resulting from business combinations, before amortization of fixed assets, before effects of significant litigations, before specific labour expenses, before fixed assets, investments and businesses portfolio review, before restructuring programs costs, before acquisition and integration costs. 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” (from January 1, 2019): (i) investments in property, plant and equipment and intangible assets, excluding telecommunications licenses and financed assets, and (ii) less the selling prices of property, plant and equipment and intangible assets sold. 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.

Operating Cash Flow (EBITDAaL – eCAPEX from January 1, 2019): EBITDAaL (see definition) less eCAPEX (see definition). Orange uses this indicator to measure the performance of the Group in generating cash from its operations. Operating Cash Flow is not a financial aggregate defined by IFRS and may not be comparable to similarly-named indicators used by other companies.

Reported EBITDA (until December 31, 2018): operating income before depreciation and amortisation, before impacts related to acquisitions of controlling interests, before reversal of reserves of liquidated entities, before impairment of goodwill and assets, and before income from associates. Reported EBITDA is not a financial aggregate as defined by IFRS standards and may not be directly comparable to similarly-named indicators in other companies.

Adjusted EBITDA (until December 31, 2018): reported EBITDA (see definition), adjusted for the impacts of key disputes, specific personnel expenses, the review of the portfolio of shares and operations, restructuring and consolidation costs, and, as applicable, other specific and systematically identified items. Adjusted EBITDA is not a financial aggregate as defined by IFRS standards and may not be directly comparable to similarly-named indicators in other companies.

CAPEX (until December 31, 2018): capital expenditure on tangible and intangible assets excluding telecommunication licences and investments through finance leases. CAPEX 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.

Operating Cash Flow (Adjusted EBITDA – CAPEX until December 31, 2018): Adjusted EBITDA less CAPEX. Orange used this indicator to measure the performance of the Group in generating cash from its operations. Operating Cash Flow is not a financial aggregate defined by IFRS and may not be comparable to similarly-named indicators used by other companies.

Convergence

The customer base and the revenues invoiced to convergence services customers (excluding equipment sales) was for convergent offers defined as the combination of, at a minimum, a fixed broadband access and a mobile contract subscribed by retail market customers.

Convergent ARPO: the average quarterly revenues per convergent offer (ARPO) is calculated by dividing revenues from retail convergent services offers invoiced to 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

Revenues from Mobile Only services consists of revenues invoiced to customers of mobile offers excluding retail convergence and equipment sales. The customer base includes customers with a contract excluding retail convergence, machine-to-machine contracts and prepaid cards.

Mobile Only ARPO: the average quarterly revenues from Mobile Only (ARPO) is calculated by dividing the revenue from Mobile Only 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

Revenues from Fixed Only services include the revenue of fixed services excluding retail convergence and equipment sales: traditional fixed-line telephony, fixed broadband and enterprise solutions and networks1. The customer base consists of fixed-line telephony and fixed broadband customers, excluding retail convergence customers.

Fixed Only Broadband ARPO: the average quarterly revenues from Fixed Only Broadband (ARPO) is calculated by dividing the revenue from Fixed Only Broadband 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

Revenues from IT and integration services include revenue from unified communication and collaboration services (Local Area Network and telephony, consulting, integration, project management and video conferencing offers), hosting and infrastructure services (including cloud computing), application services (customer relations management and other application services), security services, machine-to-machine services (excluding connectivity), as well as equipment sales for the products and services above.

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), and (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.


 

1 With the exception of France, where enterprise solutions and networks are listed under the Enterprise business segment.

Attachment

WaveTech Global Announces Acquisition of Power Analytics

HOBOKEN, N.J., April 29, 2019 (GLOBE NEWSWIRE) — WaveTech Global, Inc (the “Company” or “WaveTech”), a global next generation technology platform company that specializes in power management and efficiency, asset lifecycle extension, data-analytics, and intellectual property development, announced today the signing of a definitive agreement and simultaneous closing of the purchase of the assets of Power Analytics, Inc a market leading provider of real-time power modelling, simulation and digital twin management software.  Pursuant to this transaction, WaveTech Global will purchase certain assets and intellectual property of Power Analytics for consideration in the form of common stock shares.  Over $20million has been invested into the Power Analytics software technology, and WaveTech Global will now have ownership and access to over 20 additional granted patents.

Kevin Meagher will join the senior leadership and all current employees of Power Analytics will continue their current responsibilities within the WaveTech Global group of companies. With this transaction three new strategic and institutional shareholders of GE, Casuam Enterprises, and Carolina Financial have joined the shareholder base of WaveTech Global, Inc.

Kevin Meagher of Power Analytics stated, “The WaveTech Global team has created an exceptional platform to address mission critical markets in telecommunications, energy storage, utilities, information technology (especially data centers) and renewable generation in all markets.  The combined technologies and platform represent the extraordinary application of Artificial Intelligence technology in high availability energy markets and situational awareness that communications and transactional data are so dependent on.  We are delighted to be part of this synergistic team representing years of applied research and technology as an industry leader.”

Michael Kotlarz of WaveTech noted, “The addition of Power Analytics with  its real-time Power Digital Twin Software as a Service (SaaS) and its Power Analytics Gateway marks an acceleration in WaveTech’s ability to deliver a high value-added platform that generates huge efficiency, and cost savings based on both real-time empirical and predictive simulation data.  Our combined platform will enable operational visibility and proactive insight unlike anything currently in the space.”

Keith Barksdale of WaveTech and BV Advisory Partners stated, “We are excited to have Kevin Meagher and his team join the Wavetech Global family. Kevin has been named as a Top 100 experts in the US smart grid sector, and his thought leadership will help WaveTech accelerate the launch of our proprietary Digital Network Clone product offerings that will change the way network operators build, maintain, and repair their critical infrastructure. With this acquisition we also immediately increase our reoccurring SaaS Revenue with new Fortune 100 Global Customers.”

WaveTech’s extensive platform of products include power asset life extension, operational servicing and automation, lifetime cost reduction, and real-time heterogeneous power source switching. WaveTech’s Power-Control network architecture (Patent pending) creates an automated intelligent network from your power storage and generation assets to accomplish a diverse set of customer specific goals from maximizing availability to minimizing cost. In addition, WaveTech’s patented approach to crystal control (CCT®) can dramatically reduce the need for backup energy capital expenditure and associated operating costs for the environmental control and maintenance needed to protect and operate these critical energy assets. CCT’s dramatic improvements in cost and reliability were born from a portfolio of patented Intellectual Property specializing in the manipulation of crystallization formations within fluid media.

WaveTech was advised by BV Advisory Partners, and Power Analytics was advised by Carolina Financial.

About WaveTech Global
WaveTech is a global next generation energy management company that specializes in asset lifecycle extension, intellectual property development, and implementation services. The Company offers a global portfolio of end-to-end energy optimization and lifecycle management solutions developed from proprietary intellectual property, engineered systems, and operational expertise.  WaveTech’s extensive suite of products include power asset life extension, operational servicing and automation, lifetime cost reduction, and real-time heterogeneous power source switching. Additional information regarding WaveTech may be found on WaveTech’s website at http://www.wavetechglobal.com

About Power Analytics
Embraced by the power industry for more than 25 years, Power Analytics’ software is at the forefront of the electrical system planning and operation space for energy intensive, mission-critical facilities and microgrids, and currently protects more than $120 billion in customer assets. The Company’s worldwide operations include sales, distribution, and support offices located throughout North America, South America, Europe, Asia, Africa and Australia. For more information, visit http://www.poweranalytics.com
Media Contact: Steve Lopiano – Power Analytics Corporation
slopiano@poweranalytics.com

Forward-Looking Statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

Investor Relations
Damon Cameron
WaveTech Global, Inc.
201.280.9850

dcameron@wavetechglobal.com