Solid operational performance driven by recovery in Mali combined with good recruitment momentum in Senegal, Guinea and Sierra Leone. Good progress in subscriber bases on growth relay services (Data and Orange Money) but note a delay vs. objectives carried by Sierra Leone following the review of the rules for counting active customers, particularly on Data.

Improvement in revenue growth of +57.4 billion, i.e. +7.5% in annual comparison and +7.0% compared to H1 2019 in all countries:

- Senegal: +4.8% against +4.4% in H1;

- Sierra Leone: +11.7% against +10.8% in H1;

- Bissau: +7.7% against +5.5% in H1

- Guinea: +18.2% vs. +16.6% in H1 with a favorable currency effect mainly on retail;

- Mali: +4.2% against +4.4% in H1 in the face of the stability observed.

The annual decrease in net income is identical to H1 at -9.9% despite the relative stability of operating income, mainly due to the increase in interest charges on borrowings. However, it is better than budgeted.

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