Premium Essay

Devoir France Télécom

In: Computers and Technology

Submitted By johnnyandjude
Words 2726
Pages 11
1)

Here, can see that the ROE is mainly driven by the Assets turnover, which keep increasing despite the 2001 crisis. On the other hand, the Operating margins is severely hit by the Internet Bubble with a negative ratio of -19,24% in 2001 and – 44,66% in 2002. This means that €1 of sales generated negative earnings. This is quite understandable with the crisis The leverage ratio on the other hand is increasing until 2001 to reach almost 5 and then become negative in 2002 before going back to its level in 2003. This indicates how much Assets can be used with €1 of Equity and despite the negative number in 2002, the ratio remains quite strong. Then, let’s analyse the leverage effect.

The ratio remains is increasing from 1999 where it is almost 50% debt -50% Equity financing to a ratio of 4,24 in 2003 (4 times more debt than Equity!), except in the aftermath of the crisis in 2002 where the ratio was negative due to negative equity. This can be explaining by a strong in-debtment from France Telecom to make up for a decrease in earnings and to finance acquisitions. As a result, France Telecom appears heavily indebt.
Regarding the ROCE (Return on Capital Employed), it is lower than the ROE but doesn’t suffer from the crisis: this indicates the ability of France Telecom to make up for the difficult time. Moreover, the ROCE with debt is twice as big as the ROCE without debt in 1999, 2000, 2001, which is a proof on the positive effect of debt. However, it become negative in 2002 (- 23%) showing that in time of crisis Debt can be a burden. A last point to rise is related to the negative working capital of France Telecom, which is very good and shows the ability of the firm to generate revenue without investing in its NWC. 2)
According to the data we have for years 1999-2003, the performance of France Telecom was quite poor, after having reached a high…...

Similar Documents

Premium Essay

Telecom

...without modern telecommunications. The primary benefits include reduced transport costs, reduced transaction costs, improved marketing information and increased efficiency of industrial production. In all economic sectors-agriculture, manufacturing and services--advanced telecommunications systems are becoming an integral part of business operations. The lesser developed countries must accelerate their application of telecommunications technology or fall further behind in economic competitiveness. The gap in telephone penetration between developed and developing countries is increasing. The challenges in reducing this gap are significant. The SADC and RSA have a total population of 115 million inhabitants, the size of Germany and France combined. Yet, they contain only half a million telephones. Providing expanded telecommunications service for this region is a daunting task. 2.2 Purpose of this Paper The objective of this paper is designed to provide a framework to analyze the potential impact of telecommunications investment on the SADC and RSA region's economic development. The paper includes a review of the methodology, models and data requirements utilized in similar studies on the relationship between economic development and telecommunications in other regions of the world. Economic techniques make possible a more precise definition of the relationship between telecommunications and economic development by using both quantitative and......

Words: 10138 - Pages: 41

Free Essay

France

...France The little powerhouse that is France is home to the most romantic city in the world, Paris. Its area is slightly less than the size of Texas at 643,701 sq km. Other major cities in the country are Marseille-Aix-en-Provence, Lyon, Lille, and Cannes which is famous for the film festival. French is the official language, and its neighbors include Belgium, Germany, Italy, Spain, and Switzerland. The United States has quite a few less neighbors at 2, which are Canada and Mexico. France is easily navigable by water as all natural waterways crisscross the country. The Loire River is 625 miles long, beginning in the southeastern part of France and flows into the Bay of Biscay. While the Loire is the longest, the Rhone is the ‘biggest river in France in terms of depth and volume’ (USA Today, Travel Tips). The Seine River comes in third, but is largest as far as popularity and name recognition go. It is home to many places tourists frequent. France is also surrounded by many well-known bodies of water including the Atlantic Ocean, the English Channel, the Bay of Biscay, and the Mediterranean Sea. The populations of France and the United States differ tremendously. An estimated 62,814,233 people call France their home while an estimated 313,847,465 people live in America. The French are principally Celtic and Latin, Slavic, North Africa, and Indochinese and Americans are white, black, Asian, Amerindian and Alaska native, native Hawaiian, and other Pacific Islander (The......

Words: 628 - Pages: 3

Premium Essay

Telecom

...time. It can be said that the Bangladesh telecom market has a lot of potential to offer considering strategically ignorable or somehow alterable threats. The market looks very potential and prospective. Lots of opportunities are waiting. CHAPTER 1 1.1 Introduction: Telecommunication Sector in Bangladesh: The liberalization of Bangladesh’s telecommunications sector began with small steps in 1989 with the issuance of a license to a private operator for the provision of inter alia cellular mobile services to compete with the previous monopoly provider of telecommunications services the Bangladesh Telegraph and Telephone Board (BTTB). Significant changes in the number of fixed and mobile services deployed in Bangladesh occurred in the late 1990s and the numbers of services in operation have subsequently grown exponentially in the past five years. The incentives both from government and public sectors have helped to grow this sector. It is now one of the biggest sectors of Bangladesh. As a populous country, its huge market has attracted many foreign investors to invest in this sector. The telecom sector in Bangladesh is rapidly emerging. Bangladesh Telecommunication Regulatory Commission (BTRC) is the regulatory authority for this sector, overseeing licensing, policy etc. There are 10 types of telecom operators in Bangladesh. There are 6 mobile phone operators in Bangladesh. These are: Grameenphone Ltd.: Branded as Grameenphone, Sheba Telecom Ltd.: Branded as Banglalink,......

Words: 11409 - Pages: 46

Premium Essay

France

...France The French Revolution (French: Révolution française; 1789–1799) was a period of radical social and political upheaval in France that had a fundamental impact on French history and on modern history more broadly. The absolute monarchy that had ruled France for centuries collapsed within three years. French society underwent an epic transformation, as feudal, aristocratic and religious privileges evaporated under a sustained assault from radical left-wing political groups, masses on the streets, and peasants in the countryside.[1] Old ideas about tradition and hierarchy regarding monarchs, aristocrats, and the Catholic Church were abruptly overthrown by new principles of Liberté, égalité, fraternité (liberty, equality and fraternity). The royal houses across Europe were horrified and led a countercrusade that by 1814 had restored the old monarchy, but many major reforms became permanent. So too did antagonisms between the supporters and enemies of the Revolution, who fought politically over the next two centuries. Amidst a fiscal crisis, the common people of France were increasingly angered by the incompetency of King Louis XVI and the continued indifference and decadence of the aristocracy. This resentment, coupled with burgeoning Enlightenment ideals, fueled radical sentiments, and the French Revolution began in 1789 with the convocation of the Estates-General in May. The first year of the Revolution saw members of the Third Estate proclaiming the Tennis Court......

Words: 1958 - Pages: 8

Free Essay

Telecom

...11/6/13 India's Telecom Trends for 2012 - Voice&Data Subscribe Log In Join Events Subscribe Search Here... Operator Enterprise VAS Devices People Policy Innovation Home Operator India's Telecom Trends for 2012 News | By Ritu Singh , 4 January, 2012 0 comments Like 0 0 0 99 Email Print With the current year nearing an end, the technology industry, much like the human beings, tends to reassess the past and get itself ready to embrace the new year with new innovations that promise to make life easier. And not just new developments in the technology space, it also analyzes the mistakes or shortcomings of the technologies of the previous year and makes some resolutions to rectify the issues and move forward. As the year 2011 is closing in, hopes afloat on various technology and corresponding business aspects of the Indian telecommunications industry, VOICE&DATA analyzes the market by feeling the nerves of the technology space to come up with the top 10 forecasts. These predictions spanning across stakeholders in the telecom industry also explains why the forecasts, even if not spot on, have the merit to be taken seriously by the industry. www.voicendata.com/voice-data/news/164737/indias-telecom-trends-2012 1/7 11/6/13 India's Telecom Trends for 2012 - Voice&Data New Telecom Policy 2011 The new year 2012 could not have brought a better gift for the Indian telecom industry than a new set of policy guidelines, afresh with new ideas and......

Words: 3903 - Pages: 16

Premium Essay

Telecom

...white paper | 2012 The New Frontier in Telecom Analytics: Get Better Insight Faster The dynamic nature of today’s telecom customers requires an equally dynamic use of analytics to understand customers and make decisions. ©2012 Peppers & Rogers Group. All rights protected and reserved. 2 Telecom operators are under pressure to deliver, and deliver fast. There is tremendous focus on always-on mobile connectivity and access to information when and where we want it, both in the consumer and business worlds. Telecom operators see this new normal firsthand, providing data networks and technology convergence to bring information and access to their customers in the moment. As a result, it’s become critical for operators to have the same type of fast access and interaction with their customer data and analytics. The current competitive landscape demands it. Are traditional analytical models enough? No. If operators are changing the way they do business, this shift must apply to analytics as well. It’s become imperative to monitor the instant changes in customers’ behaviors and match them with the most relevant offer as soon as the customer needs it. This is achieved with a sophisticated blend of analytics and business sense. This white paper explores the opportunities of two dynamic analytical capabilities: transactional behavioral analysis and capturing data potential. These tools give operators real-time insight about their customer activity so they can take action to be as...

Words: 2759 - Pages: 12

Premium Essay

Telecom

...demand? Why? The Indian telecom industry has come a long way since its liberalisation era. The industry has witnessed exponential growth especially in the wireless segment in the last few years. The plethora of telecom services evolved over the years, ranging from basic telephony to voice, video and data services, Wimax, WLAN and VPN, and bandwidth on demand to virtual private networks have catalysed revolutionary changes in the business operations for the service sector, i.e., IT, BPO and also the manufacturing sectors etc, besides providing millions of people access to new technology. Even though the sector has reflected promising growth, the teledensity in India still remains at a very low level compared with international standards and thus providing tremendous opportunity for future growth. In the medium-term, the industry is expected to continue to record good subscriber growth as a result of low penetration levels, heightened competition; a sustained fall in minimum subscription cost and tariff that increase affordability for lower-income rural users, expansion of coverage area by mobile operators, and government support through schemes such as the rural infrastructure roll out funded by subsidies from the Universal Service Obligation (USO) Fund. The Indian telecom sector offers unprecedented opportunities in various areas, such as rural telephony, 3G, virtual private network, value-added services, et al. Nonetheless, the lack of telecom infrastructure in rural......

Words: 4731 - Pages: 19

Free Essay

Telecom

...growth and characterized by low paying capacity of customers. Key words: Customer satisfaction, consumer retention, switching cost, cellular industry, Pakistan. INTRODUCTION Cellular industry of Pakistan is growing at a high annual growth rate. This tremendous growth has attracted many national and international cellular services providers. Cellular companies battling for supremacy and profits have started to focus on consumer retention than on acquisition. The growth rate shows that number of subscribers have increased from 68,000 in 1996 to 3.3 million by the end of 2003; since then the subscriber base has heaved to reach 80 million in early 2007 and exceeded 95 million in 2009 (PTA). The tremendous growth in Telecom industry is still a vacant room to be penetrated. The telecom sector has finally started to make make progress despite of all belated regulations. This will change the trends in this emerging market. Cellular growth time period in Pakistan which lasted for almost five years (2003 - 2008), broke almost all global record from network coverage to number of subscriber. Pakistanis have welcomed and enjoyed these cheap, quick, better and inexpensive ways of communication over older landline-based infrastructure. As Valdecantos (2009) noted, the mobile telephone market of Pakistan has been experiencing 100% sustainable growth rate for some years now. This growing industry has not only attracted the business community, but also academic researchers. Numbers of studies......

Words: 4907 - Pages: 20

Premium Essay

Telecom

...their progress. Staples says waiting times for payments have been cut from about 10 weeks to as little as four, and rebate complaints dropped by 25%. "Breakage" also dropped by as much as 10%, but that decline in unclaimed rebates is offset by better fraud prevention, it says. The fulfillment houses are also overhauling their systems. While it won't disclose figures, Parago says it has invested "tens of millions" of dollars in com­ puter technology. So now, computers, not customer­ service agents, validate most of the claims. Then consumers receive e-mail updates and can check Web sites such as RebatesHQ.com to monitor claims. Before, says Parago Chief Financial Officer Juli C. Spottiswood, getting a rebate update was a "big black hole." Telecom giants SBC Communications and T-Mobile and the California Manufacturers & Technology Assn. quickly mobilized. They argued that Figueroa's bill would drive up costs and increase fraud by cutting down on the proof required for a rebate. After pass­ ing the California House and Senate, the bill was vetoed by Governor Arnold Schwarzenneger. Now, Figueroa, a Democrat, is evaluating whether to reintroduce the bill in January. "This is an area where regulation is warranted," she maintains. Despite the crackdowns and efforts at reforms, redeeming rebates will probably never be much fun. "In a perfect world, consumers would love mail-in rebates to go away," says Stephen Baker, director of industry analysis at NPD. "However, they want the......

Words: 2052 - Pages: 9

Premium Essay

Telecom

...maintaining a successful telecoms brand Optimise your branding strategy to differentiate your services and keep your customers loyal Understand how re-branding can strengthen your position in today’s competitive and convergent telecoms environment Use convergence, content and new services to improve and strengthen your brand PRE-CONFERENCE WORKSHOP Monday 13th November Building and Maintaining A Successful Telecoms Brand Led by: Mybrand Consultants Simone Muet, Project Manager, NExT Transformation France Telecom Group Andre Schloemer, Vice President Brand Management, O2 Jonathan Bill, Head of Category Management, Content Services, Vodafone UK Morgan Holt, Director of Media Innovation, 3 Olivier Laury, Content Director, Multimedia Mobile i-Mode Division, Bouygues Telecom Daniel Probst, Head of Group Identity, Swisscom Eveline Knipping, Head of B2B Campaign Strategy & Evolution, BT Global Services Simon Stauber, Director, Brand Communication & Content Marketing, Orange Switzerland Jonathan Donovan, Head of Employee Relations, O2 Sofia Castro, Brand Strategy Manager, Optimus Thomas Wedl, Marketing Director, Tele.ring Karin Kollenz, Marketing Planning & Strategic Projects, T-Mobile Austria Hemant Sachdev, Director Marketing & Communication, Bharti Airtel Media Partners Register Today! Please call:+44 (0)20 7017 7483 Fax: +44 (0)20 7017 7825 Email: registrations@iir-telecoms.com Web: www.iir-conferences.com/branding Branding Strategies for Telecoms......

Words: 4154 - Pages: 17

Premium Essay

Telecom

...basic cloud can serve as a platform on which the legacy systems can be migrated and also new applications can be hosted. The social, analytics, mobility and automation solutions can then be built on top of the basic cloud to cater to the specific needs of the enterprises. * Telecom operators will move on to becoming cloud users as well as cloud service providers for other industries. The advantage in this case is two-fold. They will not only be able to avail all the benefits of cloud themselves, but at the same time add another revenue stream to increase profitability. TCS can act as the enablers of cloud solutions in both cases. * Telecom being a service driven industry, operators have gradually shifted focus from the conventional CRM systems to the more holistic CEM solutions. An offering comprising a CEM system hosted on cloud would offer a competitive advantage for the telecom operator. * As the security concerns are rising with the advent of M2M and BYOD, large scale enterprises in various industries across USA, Europe and Australia are facing the need for comprehensive Enterprise Mobility Management solutions. These solutions could serve as potential offerings from the telecom operators’ perspective....

Words: 417 - Pages: 2

Premium Essay

France

...Can you tell me a country as remarkable as France? You probably cannot. France is an astonishing country. The primary language of France is French. French is a language derived from Latin and 115 million people speak it as a native language. Approximately 15% of the world knows how to speak French. This language was born in France and it is spoken in many other places such as Quebec, Mauritius, Louisiana, and Côte d'Ivoire. France has many more things too offer than language. France has an extraordinary background, interesting physical characteristics, and a rich culture. The country of France has an extraordinary background. It is located in the continent of Europe. More specifically, it borders with Belgium, Luxembourg, Germany, Switzerland, Italy, Monaco, Andorra, and Spain. With no stupefaction, the most beautiful part of France is Paris. This is the capital of France. Paris represents the whole of France. Paris holds France’s best restaurants, museums, and art. In France, the native language is French. The French Government does not regulate what you speak, but the use of French is required in French businesses and in municipal buildings. The French Government is homogeneous to the American Government. The French Government is a Semi-Presidential System and a Constitution Republic. The leader of France (or President of France) is currently François Hollande and the Prime Minister is Jean-Marc Ayrault. America’s government is almost the same as......

Words: 918 - Pages: 4

Premium Essay

Telecom

...India's teledensity has improved from under 4% in March 2001 to around 53% by the end of March 2010. Cellular telephony has emerged as the fastest growing segment in the Indian telecom industry. The mobile subscriber base (GSM and CDMA combined) has grown from under 2 m at the end of FY00 to touch 584 m at the end of March 2010 (average annual growth of nearly 76% during this ten year period). Tariff reduction and decline in handset costs has helped the segment to gain in scale. The cellular segment is playing an important role in the industry by making itself available in the rural and semi urban areas where teledensity is the lowest. The fixed line segment has actually seen a decline in the subscriber base. It has declined to 36.96 m subscribers in March 2010 from 37.96 m in March 2009. The decline was mainly due to substitution of landlines with mobile phones. As far as broadband connections (>=256 kbps) are concerned, India currently has a subscriber base of 8.8 m. It has grown at an average annual growth rate of 40% since 2008. The auction for broadband wireless license and spectrum has concluded recently. The government is expected to allocate spectrum before the end of this year. This will further boost the broadband penetration in the country. Key Points Supply Intense competition has resulted in prompt service to the subscribers. Demand Given the low tariff environment and relatively low rural and semi urban penetration levels, demand will continue...

Words: 979 - Pages: 4

Free Essay

France

...法国 ------------------------------------------------- 百科名片 法国(La France),全称为法兰西共和国,现在是法兰西第五共和国,位于欧洲西部,与比利时、卢森堡、德国、瑞士、意大利、摩纳哥、安道尔和西班牙接壤,隔英吉利海峡与英国隔海相望。法国是第一次世界大战的主要战胜国之一,虽在第二次世界大战中期战败且沦陷于德国,但在国际上仍然有一定的影响力,因而成为联合国安理会常任理事国,对安理会议案拥有否决权。法国亦是欧盟和北约创始会员国之一,八国集团之一和欧洲四大经济体之一,亦是《申根公约》的成员国。法国不仅在工农业方面非常发达,而且也是世界文化中心之一。首都位于巴黎。 中文名称: | 法兰西共和国 | 英文名称: | The Republic of France | 简称: | 法国 | 所属洲: | 欧洲 | 首都: | 巴黎 | 主要城市: | 巴黎,马赛 | 国庆日: | 7月14日 | 国歌: | 马赛曲 | 国家代码: | FRA | 官方语言: | 法语 | 货币: | 欧元 | 时区: | +1(夏时制+2) | 政治体制: | 半总统共和制 | 国家领袖: | 尼古拉·萨科齐 弗朗索瓦·菲永 | 人口数量: | 65447374人(2010年1月) | | 人口密度: | 115人/平方公里(2010年1月) | 主要民族: | 法兰西人,科西嘉人,巴斯克人等 | 主要宗教: | 天主教 | 国土面积: | 543965平方公里 | 水域率: | 0.26% | GDP总计: | 28657.37亿美元 | 人均GDP: | 46016美元 | 国际电话区号: | +33 | 国际域名缩写: | .fr | 道路通行: | 靠右驾驶 | 国鸟: | 高卢鸡 | 国花: | 鸢尾花 | 国石: | 珍珠 | 国家格言: | 自由,平等,博爱 | 人类发展指数: | 0.872 | | 目录 简介 1. 国名 2. 国旗 3. 国徽 4. 国歌 5. 人口 6. 货币 地理 1. 位置 2. 地势 3. 水文 4. 气候 5. 资源 历史 历朝统治者及统治时间 政区 1. 行政区划 2. 重要城市 政治 1. 政体 2. 政党 3. 司法 4. 政要 经济 1. 体制 2. 工业 3. 商业 4. 农业 5. 旅游 6. 外贸 军事 1. 国防 2. 军制 外交 1. 国策 2. 法北约关系 3. 法德关系 4. 法英关系 5. 法波关系 6. 法俄关系 7. 法中关系 8. 签证资料 文学 艺术 体育 教育 媒体 名胜古迹 宗教 名人 2010世博法国馆 旅游 1. 景点 2.......

Words: 2407 - Pages: 10

Free Essay

France

...France If there was one thing at the forefront of the minds of French voters, with the upcoming presidential election, it would be the current economic crisis focusing mainly on the failing euro. (Hey, Big Spender) This paper will summarize three articles that relate to the failing euro and the French President Nicolas Sarkozy’s role in this issue, part of a possible solution of getting it back on track in “Going Dutch” by Martin Feldstien, in the “The Failure of the Euro” from Foreign Affairs, “Hey, Big Spender” from The Economist, and Eduardo Cue, in the “Prospects Are Good for New Plan from Merkel,Sarkozy” from U.S. News and World Report. European nations are required to become integrated and unified as a whole to participate and enhance Europe’s role in world affairs abroad. One of the main ideas to begin this integration was the trial of creating a unified currency system that is now increasingly being recognized as a experiment that has vehemently failed. This failure was not an accident or the result of bureaucratic mismanagement but rather the inevitable consequences of imposing a single currency on a very heterogeneous group of countries. The adverse consequences of the failing euro on the European economies include the current debt crises, fragile conditions of numerous banks, high levels of unemployment, and large trade deficits. (Feldstein) Lately, worries about the stability of the euro reached a high as Italy's bond yield, indicative of the rate it would pay...

Words: 651 - Pages: 3

Meg Thalken | You'll Never Get ... | Akame ga Kill!