Orange Belgium
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Orange Belgium (OBEL) investor relations material

Orange Belgium H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary6 Feb, 2026

Executive summary

  • Progressed on Lead the Future strategy, focusing on network leadership, digital transformation, and customer experience, with 85% RAN-sharing and fastest 5G network with 85% outdoor coverage.

  • Achieved recognition for fastest 5G network in Belgium by Ookla and 'hey!' named Brand of the Year 2026.

  • Reduced CO2 emissions by 6% year-over-year, covering Scope 1, 2, and 3, and increased digital inclusion beneficiaries by 30% over 2024.

  • Mobile postpaid customer base grew 2.5% year-over-year to 3.55 million; cable customers up 1.8% to 1.04 million.

  • No dividend proposed for 2025 to preserve cash for future investments.

Financial highlights

  • FY 2025 revenues declined by 1.5% year-over-year to €1,963.4m, mainly due to non-renewal of football rights and competitive pressures.

  • EBITDAAL grew by 4.0% to €566.1m, supported by VOO integration synergies and cost efficiencies.

  • eCapex (excluding license fees) increased by 2.1% to €375.9m, driven by RAN sharing and network upgrades.

  • Net profit for FY 2025: €41.3m, up 139.5% year-over-year; net financial debt reduced by 4.7% to €1,815.1m.

  • Mobile postpaid net adds: 86k; cable net adds: 18k in 2025.

Outlook and guidance

  • EBITDAAL expected to increase by around 3.5% in 2026 compared to 2025.

  • eCapex forecasted to decrease to approximately €360m in 2026.

  • Service revenues anticipated to return to growth in 2026, driven by commercial momentum and price increases.

  • FTTH deployment to accelerate from 2027, with 2026 focused on groundwork.

  • No dividend proposed for FY 2025 to preserve cash for strategic investments.

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Frequently asked questions

Orange Belgium S.A. is a telecommunications company operating primarily in Belgium. It offers a range of services including mobile telephony, fixed-line telephony, broadband internet, and digital television. The company serves both residential and business customers, providing various packages that combine these services. Orange Belgium focuses on delivering innovative solutions and maintaining a high-quality network to support its offerings. Additionally, it is part of the Orange Group, benefiting from the technological expertise and resources of its parent company. The company is headquartered in Brussels, Belgium, and its shares are listed on the Euronext Brussels.

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