2009 first half results

France Telecom showed resilience in the first half 2009 despite increased regulatory pressure and continued deterioration in the economic environment

revenues fell 0.5% in the first half of 2009 on a comparable basis, against the backdrop of a 2.9% decline in GDP across the Group’s footprint
- the customer base grew 6.6% in one year
the first half EBITDA margin was 34.7%, declining 0.7 points due to a slowdown in consumption and increased regulatory pressure
- the EBITDA margin rose 0.2 points in the second quarter to 35.4%, after a decline of 1.7 points in
the first quarter, reflecting the initial results of the cost savings and transformation plans
organic cash flow was 4.1 billion euros
-  organic cash flow is ahead of the normal level compared with the first half of 2008
- investments were 2.5 billion euros lower to take into account the current level of activity and following a period of sustained investment from 2006 to 2008
the 2009 objective of organic cash flow of 8 billion euros is confirmed

download the entire press release of 2009, July 30

find out more
access to the broadcasted financial analysts conference
slides
France Telecom Group KPI's (Excel)
first-half 2009 financial report
transcript of the financial analysts conference