(Telecompaper) Orange reported improving trends in the first quarter, with the drop in revenues slowing compared to the previous quarter. Revenues were down 4.6 percent year-on-year to EUR 9.80 billion, hurt in part by negative forex effects (-0.6%). On a comparable basis, excluding regulatory effects, sales fell 4.9 percent in France and 5.1 percent in Poland, but rose 3.2 percent in Spain. The rest of the world was down 0.2 percent, as growth in the Mideast, Africa and Romania was offset by weakness in other European markets such as Slovakia and Belgium. Orange reported adjusted EBITDA down 3.4 percent to EUR 3.02 billion, with the margin up 0.4 percent point to 30.8 percent thanks to savings on sales and personnel costs. Capital expenditure was little changed year-on-year at EUR 1.16 billion in Q1. Orange attributed the improved results to its investments in fibre and LTE, as well as convergent offers. The operator also grew its customer base 4.2 percent year-on-year to 239.4 million. Orange maintained its outlook for full-year adjusted EBITDA of EUR 12.0-12.5 billion, a net debt ratio closer to 2x EBITDA by year-end and an increase in the dividend to 60 cents a share.