(Business in Cameroon) - French group Orange reports its Cameroonian subsidiary achieved good 2018 results with a turnover of €297 million (XAF194.8 billion), up €16 million compared to 2017.

This is a record level since 2016 and better than the €3 million increase achieved between 2016 and 2017. Over the period reviewed, the company also achieved its two best half-yearly performances compared to the previous two years.

Customer base remained above 6.5 million subscribers overall, approaching its record level of 6.9 million subscribers during the last quarter of 2018.

However, the data published by the French group do not provide any indicators on the balance sheet situation or the net margin of its Cameroonian subsidiary.

A cross-referenced analysis of the available indicators reveals that the improvement hides a number of challenges. Despite a net increase by nearly 287,000 new subscribers at the end of 2018, the company did not attract many new customers during that year. In 2017, additional 1.13 million people were registered.

In addition, the company acknowledges that it has experienced a decline in voice revenues, due to the growth in courier services and Internet calls, as well as increased competition in the mobile market. This situation resulted in a potential decrease of €90 million in its market value. At the end of 2018, Orange Cameroon’s financial debt was XAF68.8 billion.

Idriss Linge