Apr 30, 2019 / 06:30AM GMT
Operator
Good morning, ladies and gentlemen, and welcome to Orange's First Quarter 2019 Results Conference Call. Today's conference is being recorded. The call will be hosted by Mr. Ramon Fernandez, Deputy CEO, Finance, Performance and Europe, with members of Orange's executive committee for the Q&A session that will start after the presentation. Thank you. And let me hand over to Mr. Ramon Fernandez. Please go ahead.
Ramon Fernandez - Orange S.A. - Delegate CEO of Finance, Performance & Europe
Good morning, and welcome to the presentation of our Q1 2019 results. Before we get to the performance review, I would like to remind everyone that starting from this quarter, we are reporting under IFRS 16. Applying this new framework for the first time this quarter, we adapted our indicators. We will now use EBITDAaL instead of adjusted EBITDA, eCAPEX instead of CapEx. As a result, operating cash flow is now EBITDAaL minus economic eCapEx, and we are moving from net debt to telecom adjusted EBITDA to net debt excluding all IFRS 16 leases to telecom EBITDAaL as explained
Q1 2019 Orange SA Earnings Call Transcript
Feb 11, 2024
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