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Orange Romania revenues down 3.3% in 2020

Orange Romania revenues down 3.3% in 2020 Source: Orange Romania FB page

BUCHAREST (Romania), February 18 (SeeNews) - The Romanian unit of France Telecom's Internet and mobile arm Orange recorded revenues of 1.076 billion euro ($1.298 billion) last year, compared with 1.112 billion euro in 2019, Orange said in a financial statement on Thursday.

In the fourth quarter of 2020, revenues rose by an annual 1.4% to 304 million euro, Orange Romania said in a separate press release.

The company's performance in the fourth quarter was backed by higher sales of equipment, after many economic activities moved to a digital environment following the coronavirus outbreak, it commented.

Orange Romania had 10.727 million customers at the end of December 2020, up 1% on the year.

"Our strategic vision, focused on the digitisation of services, was also observed in the level of financial and commercial performance. We supported the process of digital transformation of companies, in order to ensure business continuity. Also, the number of customers who turned to digital self-solutions has increased significantly, and the business model focused on simplicity and transparency in the area of ​​mobile financial services has attracted a double number of customers to Orange Money," Orange Romania CEO Ludmila Climoc said.

The operator's 4G network covered 99.2% of Romania's population at the end of December, while the 4G+ network covered 65% of the population. Fixed broadband services had 403,000 customers at the end of the fourth quarter, up 13% on the year.

The Orange Money service user base doubled on the year at the end of the fourth quarter of 2020, reaching over 260,000 customers.

In November 2020, Orange announced the signing of an agreement to acquire a 54% majority stake in Romanian carrier Telekom Romania Communications  and its convergent subscriber base. The transaction is expected to close in the second half of 2021.

At group level, Orange posted revenues of 42.3 billion euro in 2020, up 0.3% on the year.

($ = 0.8288 euro)

Orange Romania SA is among the biggest companies in SEE, for more reference take a look at Top 100 companies