PARIS (dpa-AFX) - France Telecom-Orange (FTE) announced a plunge in full-year 2012 net income attributable to equity owners of France Telecom SA to 820 million euros, from 3.9 billion euros a year before. Excluding the impact of the new Part-Time for Seniors agreement and excluding the impairment of goodwill and assets of 1.84 billion euros in 2012 and 991 million euros in 2011, the Group's share of net income was 3.39 billion euros in 2012, a 30.7% drop on a comparable basis, versus 2011.
The France Telecom-Orange group revenues were 43.515 billion euros in 2012, a 2.7% decrease on a comparable basis. Excluding the impact of regulatory measures, the Group's revenues edged down by 0.6%, in comparison with last year. The company added that the impact of increased competitive pressure in European countries, notably in France, was partially offset by the strong growth of operations in Africa and the Middle East and in Spain.
France Telecom-Orange reached its operating cash flow target of 8 billion euros in 2012, while increasing its investments.
In the 2012 fourth quarter, Group revenues totaled 10.92 billion euros, down 3.2% on a comparable basis, compared with 11.28 billion euros in the 2011 period. Excluding the impact of regulatory measures, the decrease was 1.1%, the same as in the third quarter, after falling 0.1% in the first half, the company noted.
Despite heightened competitive pressure, France Telecom-Orange maintained its operating cash flow target of over 7 billion euros for 2013. An interim dividend payment of 0.30 euros per share for 2013 would be paid in cash in December.
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