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France Telecom Full Year Profits Fall by Nearly 80 Percent
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France Telecom-Orange has announced a 79% fall in profits for last year and warned of a difficult year ahead. The company posted a net profit of EUR820 million, on revenues which were also down by 2.7% at EUR43.5 billion.
Even without regulatory impacts, revenues would have still fallen by 0.6%. Profits were hurt by EUR1.84 billion worth of write-downs.
The company expects that this year's free cash flow will fall to EUR7 billion, down on the EUR8 billion last year.
The Group had 230.7 million customers at 31 December 2012, an increase of 3.0% year on year (+6.8 million net additions), reflecting growth in mobile, with the customer base up 4.5% - driven mainly by growth in Africa and the Middle East, but excluding the impact of the sale of its Swiss subsidiary.
The company ended the year with net debt of EUR30.6 billion.
Tags: [france telecom] [France]
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