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Orange Belgium

DB:MOS
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MOS
DB
€1B
Market Cap
  1. Home
  2. DE
  3. Telecom
Company description

Orange Belgium S.A. provides telecommunication services in Belgium and Luxembourg. The last earnings update was 26 days ago. More info.


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MOS Share Price and Events
7 Day Returns
-2.7%
DB:MOS
-3%
Europe Wireless Telecom
0%
DE Market
1 Year Returns
17.8%
DB:MOS
1.1%
Europe Wireless Telecom
9.9%
DE Market
MOS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Orange Belgium (MOS) -2.7% 1% -7.8% 17.8% -3.6% 0.1%
Europe Wireless Telecom -3% -3.3% 2.2% 1.1% -14.3% -26.2%
DE Market 0% 4.6% 12.1% 9.9% 14.6% 18.2%
1 Year Return vs Industry and Market
  • MOS outperformed the Wireless Telecom industry which returned 1.1% over the past year.
  • MOS outperformed the Market in Germany which returned 9.9% over the past year.
Price Volatility
MOS
Industry
5yr Volatility vs Market

Value

 Is Orange Belgium undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Orange Belgium to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Orange Belgium.

DB:MOS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MOS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.8%
Wireless Telecom Unlevered Beta Simply Wall St/ S&P Global 0.34
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.337 (1 + (1- 29%) (52.4%))
0.639
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 6.8%)
5.67%

Discounted Cash Flow Calculation for DB:MOS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Orange Belgium is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:MOS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.67%)
2020 97.17 Analyst x7 91.96
2021 102.04 Analyst x7 91.39
2022 105.50 Analyst x2 89.42
2023 136.50 Analyst x2 109.49
2024 147.12 Est @ 7.78% 111.67
2025 155.23 Est @ 5.51% 111.51
2026 161.33 Est @ 3.93% 109.68
2027 165.88 Est @ 2.82% 106.72
2028 169.27 Est @ 2.04% 103.06
2029 171.80 Est @ 1.5% 98.99
Present value of next 10 years cash flows €1,023.00
DB:MOS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €171.80 × (1 + 0.23%) ÷ (5.67% – 0.23%)
€3,165.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €3,165.29 ÷ (1 + 5.67%)10
€1,823.80
DB:MOS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,023.00 + €1,823.80
€2,846.80
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,846.80 / 56.40
€50.47
DB:MOS Discount to Share Price
Calculation Result
Value per share (EUR) From above. €50.47
Current discount Discount to share price of €18.62
= -1 x (€18.62 - €50.47) / €50.47
63.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Orange Belgium is available for.
Intrinsic value
>50%
Share price is €18.62 vs Future cash flow value of €50.47
Current Discount Checks
For Orange Belgium to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Orange Belgium's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Orange Belgium's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Orange Belgium's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Orange Belgium's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MOS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €0.52
ENXTBR:OBEL Share Price ** ENXTBR (2019-11-18) in EUR €18.62
Europe Wireless Telecom Industry PE Ratio Median Figure of 7 Publicly-Listed Wireless Telecom Companies 22.75x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 20.03x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Orange Belgium.

DB:MOS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTBR:OBEL Share Price ÷ EPS (both in EUR)

= 18.62 ÷ 0.52

36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Orange Belgium is overvalued based on earnings compared to the Europe Wireless Telecom industry average.
  • Orange Belgium is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Orange Belgium's expected growth come at a high price?
Raw Data
DB:MOS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
19.6%per year
Europe Wireless Telecom Industry PEG Ratio Median Figure of 5 Publicly-Listed Wireless Telecom Companies 2.38x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:MOS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 36x ÷ 19.6%

1.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Orange Belgium is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Orange Belgium's assets?
Raw Data
DB:MOS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €10.28
ENXTBR:OBEL Share Price * ENXTBR (2019-11-18) in EUR €18.62
Europe Wireless Telecom Industry PB Ratio Median Figure of 9 Publicly-Listed Wireless Telecom Companies 1.82x
Germany Market PB Ratio Median Figure of 577 Publicly-Listed Companies 1.84x
DB:MOS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:OBEL Share Price ÷ Book Value per Share (both in EUR)

= 18.62 ÷ 10.28

1.81x

* Primary Listing of Orange Belgium.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Orange Belgium is good value based on assets compared to the Europe Wireless Telecom industry average.
X
Value checks
We assess Orange Belgium's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Wireless Telecom industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Wireless Telecom industry average (and greater than 0)? (1 check)
  5. Orange Belgium has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Orange Belgium expected to perform in the next 1 to 3 years based on estimates from 16 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Orange Belgium expected to grow at an attractive rate?
  • Orange Belgium's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Orange Belgium's earnings growth is expected to exceed the Germany market average.
  • Orange Belgium's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MOS Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MOS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 19.6%
DB:MOS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 2.8%
Europe Wireless Telecom Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
Europe Wireless Telecom Industry Revenue Growth Rate Market Cap Weighted Average 1.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:MOS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MOS Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,413 352 76 2
2022-12-31 1,431 337 73 3
2021-12-31 1,438 317 60 12
2020-12-31 1,386 312 51 15
2019-12-31 1,317 362 37 16
2019-11-18
DB:MOS Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 1,314 308 31
2019-06-30 1,297 297 37
2019-03-31 1,291 273 25
2018-12-31 1,280 261 32
2018-09-30 1,268 265 24
2018-06-30 1,259 252 23
2018-03-31 1,254 33
2017-12-31 1,246 267 39
2017-09-30 1,256 79
2017-06-30 1,240 309 72
2017-03-31 1,240 85
2016-12-31 1,242 299 77

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Orange Belgium's earnings are expected to grow by 19.6% yearly, however this is not considered high growth (20% yearly).
  • Orange Belgium's revenue is expected to grow by 2.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:MOS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from Orange Belgium Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MOS Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.26 1.83 0.69 2.00
2022-12-31 1.21 1.69 0.72 3.00
2021-12-31 1.01 1.69 0.23 14.00
2020-12-31 0.87 1.31 0.53 15.00
2019-12-31 0.62 0.76 0.51 14.00
2019-11-18
DB:MOS Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 0.52
2019-06-30 0.61
2019-03-31 0.41
2018-12-31 0.54
2018-09-30 0.41
2018-06-30 0.38
2018-03-31 0.56
2017-12-31 0.65
2017-09-30 1.31
2017-06-30 1.19
2017-03-31 1.41
2016-12-31 1.28

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Orange Belgium is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Orange Belgium's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Orange Belgium has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Orange Belgium performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Orange Belgium's growth in the last year to its industry (Wireless Telecom).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Orange Belgium's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Orange Belgium's 1-year earnings growth exceeds its 5-year average (27.4% vs -11.9%)
  • Orange Belgium's earnings growth has exceeded the Europe Wireless Telecom industry average in the past year (27.4% vs 21%).
Earnings and Revenue History
Orange Belgium's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Orange Belgium Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MOS Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,313.60 31.03 299.41
2019-06-30 1,297.30 36.53 274.11
2019-03-31 1,291.30 24.53 299.51
2018-12-31 1,279.80 32.43 287.11
2018-09-30 1,267.92 24.35 273.44
2018-06-30 1,258.55 22.80 283.12
2018-03-31 1,254.12 33.25 268.74
2017-12-31 1,246.35 39.00 281.22
2017-09-30 1,255.54 78.91 278.35
2017-06-30 1,240.34 71.51 288.55
2017-03-31 1,239.74 84.91 272.65
2016-12-31 1,241.64 76.61 289.25
2016-09-30 1,242.47 76.69 303.62
2016-06-30 1,237.27 77.19 315.92
2016-03-31 1,241.17 65.54 322.57
2015-12-31 1,235.37 76.59 302.72
2015-09-30 1,222.56 57.34 286.56
2015-06-30 1,226.52 44.19 305.43
2015-03-31 1,237.62 43.74 305.58
2014-12-31 1,248.72 43.29 305.73
2014-09-30 1,290.97 48.80 289.67
2014-06-30 1,333.23 54.31 273.61
2014-03-31 1,397.23 70.86 270.36
2013-12-31 1,461.23 87.41 267.11
2013-09-30 1,545.00 118.75 230.08
2013-06-30 1,628.77 150.09 193.06
2013-03-31 1,651.52 167.89 128.71
2012-12-31 1,674.27 185.69 64.36

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Orange Belgium has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Orange Belgium used its assets less efficiently than the Europe Wireless Telecom industry average last year based on Return on Assets.
  • Orange Belgium's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Orange Belgium's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Wireless Telecom industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Orange Belgium has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Orange Belgium's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Orange Belgium's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Orange Belgium's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Orange Belgium's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Orange Belgium's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Orange Belgium Company Filings, last reported 1 month ago.

DB:MOS Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 579.70 267.80 20.20
2019-06-30 565.10 280.00 31.80
2019-03-31 578.80 277.20 22.00
2018-12-31 587.14 290.72 26.95
2018-09-30 556.10 323.50 19.00
2018-06-30 556.10 323.50 19.00
2018-03-31 542.02 325.68 13.48
2017-12-31 582.62 325.68 13.48
2017-09-30 530.40 342.40 13.30
2017-06-30 530.40 342.40 13.30
2017-03-31 532.42 389.28 51.90
2016-12-31 532.42 389.28 51.90
2016-09-30
2016-06-30 480.80 384.30 14.90
2016-03-31 457.11 417.17 10.82
2015-12-31 457.11 417.17 10.82
2015-09-30
2015-06-30 407.60 510.80 11.70
2015-03-31 407.60 510.80 11.70
2014-12-31 383.65 544.21 12.39
2014-09-30 383.65 544.21 12.39
2014-06-30 361.40 554.80 10.20
2014-03-31 361.40 554.80 10.20
2013-12-31 337.18 570.63 13.78
2013-09-30 337.18 570.63 13.78
2013-06-30 307.10 484.40 11.70
2013-03-31 357.80 406.23 12.27
2012-12-31 357.80 406.23 12.27
  • Orange Belgium's level of debt (46.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (141.8% vs 46.2% today).
  • Debt is well covered by operating cash flow (115.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.2x coverage).
X
Financial health checks
We assess Orange Belgium's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Orange Belgium has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Orange Belgium's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.69%
Current annual income from Orange Belgium dividends. Estimated to be 3.44% next year.
If you bought €2,000 of Orange Belgium shares you are expected to receive €54 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Orange Belgium's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.33%).
  • Orange Belgium's dividend is below the markets top 25% of dividend payers in Germany (3.68%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:MOS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
Europe Wireless Telecom Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 4.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.3%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MOS Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.20 3.00
2022-12-31 0.94 4.00
2021-12-31 0.64 15.00
2020-12-31 0.58 17.00
2019-12-31 0.52 16.00
2019-11-18
DB:MOS Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-29 0.500 2.656
2019-02-13 0.500 2.734
2018-02-07 0.500 3.262
2017-03-31 0.500 2.598
2017-02-09 0.500 2.352
2014-07-24 0.000 0.000
2014-04-24 0.000 0.000
2014-02-27 0.000 0.000
2013-05-03 1.800 13.138
2012-07-24 3.700 17.817
2011-03-01 4.300 11.073
2011-02-09 4.300 9.388
2010-02-11 4.550 10.158
2009-12-31 4.550 10.079
2009-02-05 4.550 9.915
2008-12-31 4.550 8.157

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Orange Belgium's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Orange Belgium's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Orange Belgium afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Orange Belgium has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Orange Belgium's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michaël Trabbia
AGE 43
TENURE AS CEO 3.2 years
CEO Bio

Mr. Michaël Trabbia has been the Chief Executive Officer and Executive Director at Orange Belgium S.A. since September 1, 2016. Mr. Trabbia serves as the Head of The Chairman and Chief Executive Officer's Office at Orange Group and has been its Secretary since March 1, 2016. He served as a Director for Chairman and Chief Executive Officer at Orange since July 1, 2014. He served as Director of Public Affairs at Orange. He joined Orange in January 2011 and became Group Senior Vice President for Corporate Public Affairs. He then moved to the team of the Chairman and Chief Executive Officer of Orange as Chief of staff and Secretary of the Group's Executive Committee in July 2014. He has worked for several ministers, regulator Arcep and TDF, as Director of Strategy and Development from 2007 to 2009. He began his career in 2001 with the French regulator ARCEP, where he was in charge in particular of the attribution and regulation of mobile licenses. In 2004, he was named Advisor to the cabinet of the Minister for European Affairs, later joining the cabinet of the Minister for Regional Development as Advisor for ICT and Europe. Then, in 2007, he joined TDF as Head of Strategy and Development. In July 2009, he was appointed Deputy Head of Cabinet of the Minister for Industry and Head of Industrial Sectors Policy before joining Orange in 2011. Mr. Trabbia is a Graduate of Ecole polytechnique and Telecom ParisTech and holds a Master of Advanced Studies in Industrial Economics.

CEO Compensation
  • Insufficient data for Michaël to compare compensation growth.
  • Insufficient data for Michaël to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Orange Belgium management team in years:

3.1
Average Tenure
47
Average Age
  • The tenure for the Orange Belgium management team is about average.
Management Team

Michaël Trabbia

TITLE
CEO & Executive Director
AGE
43
TENURE
3.2 yrs

Arnaud Castille

TITLE
Chief Finance Officer
AGE
47
TENURE
2.9 yrs

Stefan Slavnicu

TITLE
Chief Technology Officer
AGE
42
TENURE
1.2 yrs

Eric Chang

TITLE
Director of Investor Relations

Isabel Carrion

TITLE
Chief People Officer
TENURE
4.2 yrs

Werner De Laet

TITLE
Chief Enterprise Officer
TENURE
3.1 yrs

Cristina Zanchi

TITLE
Chief Consumer Officer
TENURE
9.1 yrs

Alain Ovyn

TITLE
Chief Transformation Digital Officer
AGE
49
TENURE
5.9 yrs

Stéphane Janssens

TITLE
Chief Customer Experience Officer
AGE
54
TENURE
3.1 yrs

Ana Catalina Lopez

TITLE
Investor Relations Expert
Board of Directors Tenure

Average tenure and age of the Orange Belgium board of directors in years:

2.5
Average Tenure
59
Average Age
  • The average tenure for the Orange Belgium board of directors is less than 3 years, this suggests a new board.
Board of Directors

Johan Deschuyffeleer

TITLE
Independent Chairman of the Board
COMPENSATION
€79K
AGE
61
TENURE
2.5 yrs

Michaël Trabbia

TITLE
CEO & Executive Director
AGE
43
TENURE
3.2 yrs

Nadine Lemaitre-Rozencweig

TITLE
Independent Vice-Chairman of the Board
COMPENSATION
€64K
TENURE
2.5 yrs

Martine De Rouck

TITLE
Independent Director
COMPENSATION
€62K
AGE
63

Gregoire Dallemagne

TITLE
Independent Director
COMPENSATION
€46K
AGE
47

Valérie Le Boulanger

TITLE
Director
AGE
57
TENURE
1.3 yrs

Wilfried Verstraete

TITLE
Independent Director
COMPENSATION
€41K
AGE
61
TENURE
2.5 yrs

Francis Gelibter

TITLE
Director
AGE
61

Christophe Naulleau

TITLE
Director
AGE
59

Béatrice Mandine

TITLE
Director
AGE
51
TENURE
3.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Orange Belgium's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Orange Belgium has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Orange Belgium S.A. provides telecommunication services in Belgium and Luxembourg. The company provides mobile telecommunication, broadband Internet, and TV services to residential clients, as well as mobile and fixed line services to businesses and corporates. It also sells telecommunications products and services for individuals through a network of 10 stores in Wallonia. The company was formerly known as Mobistar NV/SA and changed its name to Orange Belgium S.A. in May 2016. Orange Belgium S.A. is based in Brussels, Belgium. Orange Belgium S.A. is a subsidiary of Atlas Services Belgium S.A.

Details
Name: Orange Belgium S.A.
MOS
Exchange: DB
Founded:
€1,050,194,328
56,401,414
Website: http://www.orange.be
Address: Orange Belgium S.A.
Avenue du Bourget, 3,
Brussels,
Brussels, 1140,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR OBEL Ordinary Shares Euronext Brussels BE EUR 06. Oct 1998
DB MOS Ordinary Shares Deutsche Boerse AG DE EUR 06. Oct 1998
LSE 0FBS Ordinary Shares London Stock Exchange GB EUR 06. Oct 1998
BATS-CHIXE OBELB Ordinary Shares BATS 'Chi-X Europe' GB EUR 06. Oct 1998
Number of employees
Current staff
Staff numbers
1,511
Orange Belgium employees.
Industry
Wireless Telecommunication Services
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 20:45
End of day share price update: 2019/11/18 00:00
Last estimates confirmation: 2019/11/11
Last earnings filing: 2019/10/23
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.