Belgacom beats 2Q forecasts

3 Sep 2007

Belgacom has posted better than expected second quarter results, and has raised its full year guidance. CEO Didier Bellens said net profit for the first half of 2007 rose 30% to EUR564 million (USD769 million) from EUR434 million a year earlier. Sales for the six months ended 30 June 2007 were up 0.2% at EUR3.04 billion. For the second quarter the group posted a net profit of EUR245 million, compared to EUR219 million a year earlier. EBITDA slipped to EUR543 million, down from EUR565 million. Second quarter sales meanwhile rose to EUR1.53 billion, up from EUR1.52 billion.

Belgacom upgraded its full year guidance for its fixed-line and mobile activities, saying it felt ‘comfortable’ with the ‘good set of results’ it has posted and with the challenges ahead. Taking into account the expected financial impact following lowered fixed-to-mobile prices which came into force on 1 May, Belgacom sees a full year revenue decline of about 1% for its fixed line activities.

Belgium, Proximus