Orange announces new strategy. Dividend possible in 2020

WSE-listed telecom Orange Polska forecasts adjusted EBITDA within PLN 2.8-3 billion range this year, and sees it stable for 2018 and growing in subsequent years, the company said in its new strategy for 2017-2020. Revenues should stabilize in 2019 and start increasing in the following years, the company added. “In this way, we aim to achieve sustainable growth of both our revenues and our EBITDA from 2020. In parallel, we will develop and grow new and adjacent areas to lay the foundations for profitable growth beyond 2020,” the strategy said. CAPEX has been set at PLN 2-2.2 billion for 2018 and 2019, and PLN 2 billion in 2020. Out of this amount, PLN 2.8 billion has been earmarked for expanding fiber network infrastructure. “"We will continue to invest in our fiber network to become the undisputable leader in high-speed connectivity in Poland, further push convergence as a key proposal for Polish households and small businesses as well as develop the digital capabilities of our sales organization and distribution channels,” the document reads. The company hopes to pay dividend no sooner than in 2020.