France’s biggest telecoms operator, Orange, said on Tuesday that it beat its own profit targets in 2015 as it continued to cut labor costs and benefited from the stabilization of its total sales.

Paris-based Orange published 2015 restated earnings before interest, taxes, debt and amortization (EBITDA) of 12.43 billion euros ($13.86 billion), up 0.1 percent from a year earlier and beating its own target of “at least” 12.3 billion. This also beat the Reuters poll average of 12.36 billion.

Europe’s fifth-largest telecom operator by market value also said it would pay a 2015 dividend of 60 cents per share, and the same level for 2016. It predicted that its restated EBITDA would be higher in 2016 than the previous year on a comparable basis for the first time since 2009.

Annual revenue fell 0.1 percent to 40.24 billion euros, compared with a poll average of 40.27 billion.

The telecoms operator said that its current talks on Bouygues Telecom were ongoing and would “require at least several weeks before any decision is taken”. ($1 = 0,896157 euro)

(Reporting by Mathieu Rosemain; Editing by James Regan)

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