Orange Belgium S.A.

Orange Belgium S.A.

OBEL.BR
Orange Belgium S.A.BE flagEuronext Brussels
21.50
EUR
- -
- -
1.45BMarket Cap
Orange Belgium S.A.
OBEL.BR
(Euronext Brussels)

Recent

price

21.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
27.74
27.62
27.5
24.35
20.71
20.23
20.25
19.79
20.43
21.52
21.44
22.16
22.81
28.74
30.23
28.94
22.16
Revenue per Share
4.39
3.68
3.09
1.46
0.72
1.28
1.28
0.65
0.54
0.56
0.9
0.66
0.97
- -
0.34
0.61
0.66
Basic EPS, GAAP
4.45
0.48
2.05
-0.79
0.84
1.21
2.19
1.31
1.37
2.66
2.78
2.37
-6.46
1.22
2.07
2.22
2.37
Free Cash Flow per Basic Share
4.55
4.3
3.71
1.8
- -
- -
- -
0.5
0.5
0.5
0.5
0.5
- -
0.01
- -
- -
- -
Dividend per Share
6.96
6.35
5.74
5.4
6.17
7.4
9.37
9.55
9.59
9.65
10.05
10.19
11.27
10.87
12.44
12.71
10.19
Book Value per Share
0.94
0.03
-0.15
-2.05
-0.02
0.49
2.9
3.54
3.92
3.51
4.33
4.79
-2.71
-16.58
-10.07
-8.25
4.79
Tangible Book Value per Share
60
60
60
60
60
60
60
60
60
60
60
60
60
60
65
67
60
Basic Weighted Avg Shares
1,665
1,658
1,650
1,461
1,243
1,214
1,215
1,185
1,223
1,290
1,284
1,328
1,367
1,723
1,963
1,951
1,328
Sales/Revenue/Turnover
22.71
20.96
18.01
10.08
6.47
10.53
10.08
5.55
4.12
4.57
5.88
5.73
9.5
7.18
7.06
7.85
5.73
Operating Margin (%)
171
190
217
188
194
202
210
230
236
293
303
333
300
393
473
477
333
Depreciation Expense
264
221
186
87
43
77
77
39
32
33
54
40
58
- -
22
41
40
Net Income, GAAP
29.44
32.79
30.23
27.65
16.9
31.85
23.95
26.6
15.33
16.67
15.75
24.33
28.74
- -
- -
- -
24.33
Effective Tax Rate (%)
15.83
13.33
11.25
5.98
3.48
6.31
6.31
3.29
2.65
2.59
4.2
2.99
4.25
- -
1.13
2.12
2.99
Profit Margin (%)
-257
-292
-223
-214
-656
-339
-188
-205
-203
-266
-413
-220
-530
-605
-304
-436
-220
Working Capital
268
293
384
549
95
409
389
320
270
490
263
377
338
2,080
2,037
1,857
377
LT Debt
431
394
358
337
384
457
575
583
587
592
614
624
689
664
959
1,009
624
Total Equity
33.52
29.47
27.42
13.26
7.24
8.91
9.05
4.67
4.46
4.62
5.38
5.06
7.9
- -
- -
- -
5.06
Return on Invested Capital (%)
37.58
32.27
26.49
11.15
5.61
9.14
9
4.61
4.15
3.88
5.21
3.93
6.21
- -
- -
- -
3.93
Return on Capital (%)
64.04
55.34
51.19
26.14
12.47
18.81
15.23
6.88
5.66
5.8
9.14
6.55
9.04
0.01
3.04
4.96
6.55
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Jun'21
Sep'21
Dec'21
ST Debt
66
37
46
LT Borrowings
123
123
122
LT Finance Leases
293
281
255
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
60
60
60
Market Capitalization
1,134
1,164
1,193

Working Capital

FRC

in mil. unless spec.
Jun'21
Sep'21
Dec'21
Total Current Assets
312
344
350
Cash, Cash Equivalents & STI
22
61
54
Accounts Receivable, Net
189
190
188
Inventories
19
19
24
Total Current Liabilities
574
559
571
Payables & Accruals
- -
- -
- -
ST Debt
66
37
46
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.04%
11.6%
5.14%
Free Cash Flow
-26.78%
-82.38%
11.21%
Net Income, GAAP
5,024.39%
10,049.04%
86.5%
Sales/Revenue/Turnover
5.15%
9.13%
-0.62%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
1,723
2024
- -
- -
- -
- -
1,963
2025
- -
- -
- -
- -
1,951

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
- -
2024
- -
- -
- -
- -
0.34
2025
- -
- -
- -
- -
0.61

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.01
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
Business
Orange Belgium S.A. is a leading telecommunications provider operating primarily in Belgium and Luxembourg, offering a comprehensive portfolio of telecommunication services including mobile telecommunications, fixed telephony, broadband internet, and television services. Its core products include mobile connectivity packages, fixed broadband subscriptions, convergent offerings that bundle internet, telephony, and television services (including original TV content such as Be tv and VOOsport), as well as virtual telephone exchange services. The company also delivers unified communication solutions, big data analytics, Internet of Things (IoT) services, cybersecurity, multi-site corporate solutions, 5G network services, and managed hardware services. Orange Belgium operates through its subsidiary Orange Communications Luxembourg and serves both residential and business customers, including multinational corporations, under various digital transformation and cybersecurity service brands. Founded in 1995 and headquartered in Brussels, Orange Belgium is a subsidiary of the Orange Group, a global telecommunications giant present in 26 countries with a substantial international customer base. The company employs approximately 2,950 staff and reported revenues of nearly 2 billion euros as of 2024, serving around 3.5 million mobile customers and over 1 million fixed broadband customers. In recent years, Orange Belgium has made significant strategic advancements including the full integration of VOO S.A., a major Belgian telecom operator, completed by late 2025, which added scale to its fixed network operations while retaining the VOO brand. This acquisition supports Orange Belgium's long-term strategy to build a modern, efficient network infrastructure and accelerate fiber rollout. In 2025, Orange Belgium transitioned from a previous Strategic Partnership Agreement with Orange S.A. to a new Management Services Agreement, enhancing management service-oriented activities and aligning operational cost structures more closely with Orange Group standards. The company also launched a new high broadband internet offering, "Orange Satellite," in collaboration with Nordnet, targeting remote locations in Belgium. Additionally, Orange Belgium expanded its B2B solutions by unifying the sales force across Orange Belgium, Orange Business, Orange Business Digital Services, and Orange Cyberdefense to provide integrated connectivity, cloud, and cybersecurity services for enterprises, supporting its "Lead the Future" strategy aimed at digital transformation and growth in mature markets. The company also operates the 100% digital brand "hey!" focused on price-sensitive, digitally active individual customers leveraging Orange Belgium's high-quality network infrastructure. These initiatives collectively underscore Orange Belgium's commitment to expanding its product and service portfolio, enhancing network capabilities, and strengthening its position in both consumer and business markets in Belgium and Luxembourg.