Belgacom profits down; briefcase stolen

21 Aug 2006

Belgacom, Belgium’s dominant telecoms operator, has posted a net loss of EUR434 million (USD559.7 million) for the first half of 2006, mainly due to the disposal of consolidated entities and other participating interests and higher depreciation and amortization expenses related to IPTV services and the acquisition of Telindus. Group revenue increased 2.9% to EUR3.03 billion. Fixed line turnover was up 21% on the back of strong broadband take-up, but mobile revenue fell 1.5% due to slowing growth in a stagnating market. Belgacom released its top-line financials earlier than planned due to the theft of a briefcase containing a draft of the half-year results release. The full results announcement will follow next week.

Belgium, Proximus