Q3 2019 Orange SA Earnings Call Transcript
Good morning, and welcome to the presentation of our Q3 2019 results. We're going to start with Slide 4, which presents the Q3 and 9 months' results.
In Q3, top line growth accelerated, confirming the improving trends of 2019, and EBITDAaL grew slightly as the unfavorable effect of digital content offers continued.
Group revenue grew at plus 0.8% versus plus 0.5% in Q2 driven by a very strong Middle East and Africa growth, a good performance of Orange Business services in Europe, more than compensating a slight erosion in France and a decline in Spain. It's worth to note that Africa and Middle East now accounts for 13.2% of total revenues. And this quarter, Africa and Middle East grew by EUR 103 million, largely compensating for the decrease of EUR 33 million in Spain.
In Q3, EBITDAaL grew at 0.2% versus 0.9% in Q2. And looking at the first 9 months of the year, EBITDAaL grew at 0.6%.
In order to better assess the underlying performance, as we have done in previous quarters, let's look
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