Orange remains future-focused as it reports 2025 financials

• Orange has reported its financial results for 2025
• Group revenues of €40.4bn increased by just 0.9%, with Middle East and Africa delivering the most gains
• Telco says it met all of its goals set out in its ‘Lead the future’ 2023-2025 strategy
• Now it has unveiled its new company plan, ‘Trust the future’

As it unfurled its latest three-year strategy, dubbed Trust the future, Orange claimed to have successfully met all of the goals set out in its Lead the Future 2023-2025 plan as the French telco reported full year revenues for 2025 of €40.4bn, up by 0.9% on a comparable basis, and EBITDAal (earnings before interest, tax, depreciation and amortisation and after lease-related expenses) of €12.47bn, up by 3.8%.  

Annual revenues grew by €374m, which Orange credited to growth in consumer and enterprise services – up by €675m, or 2.2% – though this was offset by a decline in wholesale, equipment and other revenues. 

Once again, Orange’s operations in the Middle East and Africa propped up the telco’s growth numbers – in 2025, revenues grew by 12.2% to €8.43bn. The telco’s European operations (not including France) also grew, by 2.2% to €7.26bn, thanks to growth in its retail service sales. 

But its home market of France suffered a dip in revenues of 2.1% to €17.47bn, weighed down by a decline in wholesale revenues, while Orange Business, the telco’s enterprise services division, reported a 4.8% decline in revenues to €7.33bn, mainly due to the ongoing decline in legacy fixed line revenues, though its mobile service revenues also dipped slightly.  

Orange ended 2025 with 310.9 million customer connections, of which 272.8 million were mobile connections (not including MVNO users) and 38.1 million were fixed line connections (of which 16.5 million were high-speed broadband fibre and cable lines).

Commenting on the past three years and the plan that had been unveiled in February 2023, Orange Group CEO Christel Heydemann stated: “In 2025, we successfully completed our Lead the Future strategic plan: Orange is now simpler, stronger, and more efficient. By refocusing our efforts on value creation, we have strengthened our position in a rapidly changing global digital market. Our 2025 objectives were fully achieved, and I would like to thank all Orange teams for their hard work and commitment, as well as our customers for their trust.”

Heydemann explained that 2025 had been a key year in terms of strategic moves, including reaching a binding agreement with Lorca to take full ownership of MásOrange in Spain for €4.25bn, a deal that will make the Iberian country Orange’s second largest market in Europe (after France) when it closes later this year.

It also saw PremiumFiber – MásOrange’s Spanish fibre joint venture with Vodafone Spain and GIC – go live, with more than 12 million access lines and nearly 5 million connected customers.

In France, Orange partnered with Bouygues Telecom and Iliad Group to submit a non-binding €17bn joint offer in October to acquire a large part of Altice France (SFR): The initial bid was instantly rejected but the parties are back at the negotiating table as of last month. 

Now the telco’s executives are looking ahead with the company’s new strategy, dubbed Trust the future, which was unveiled at Orange’s Capital Markets Day in Paris on Thursday: Look out for more TelecomTV coverage of that new plan. 

- James Pearce, Editor, TelecomTV