Orange raised its 2026 EBITDAaL growth target to more than 4.5% after third-quarter revenue and EBITDAaL exceeded the medians published by the company, while it kept its other full-year financial targets unchanged.
Revenue for the three months through Sept. 30 reached €12.191 billion, up 3.6% on a comparable basis. EBITDAaL increased 4.6% to €4.140 billion. Orange’s investor relations site listed median estimates of €12.036 billion for revenue and €4.103 billion for EBITDAaL, based on 12 analyst submissions received by Oct. 8.
The new annual growth target compares with a goal of more than 4% set after Orange’s first-half results. For the first nine months of 2026, revenue rose 3.5% on a comparable basis to €33.138 billion, while EBITDAaL climbed 4.8% to €10.268 billion. EBITDAaL minus eCAPEX increased 8.8% to €5.374 billion.
Orange Group CEO Christel Heydemann said, “We are raising our 2026 target to growth of more than 4.5%.”
On a comparable basis, revenue grew 14.2% in Africa and the Middle East, 5.3% in Europe 6, 3.5% in Spain and 0.5% in France. Retail services revenue rose 3.3% across the group. Orange separately reported 22.0% revenue growth on a historical basis for the quarter.
Orange España was accounted for using the equity method during the first five months of 2026, before Orange began fully consolidating its results in June. The company kept its other guidance, including eCAPEX at about 15% of revenue, organic cash flow of around €4.3 billion and a medium-term net debt-to-EBITDAaL target of around 2x.
Orange plans to pay a €0.79-per-share dividend for 2026 in 2027, subject to approval by the next General Shareholders’ Meeting. The next scheduled cash distribution is an interim payment of €0.30 per share on Dec. 3.
