Belgacom net profit falls 12.4%

29 Feb 2008

Incumbent telco Belgacom has announced its 2007 full year results which show a slight decrease in revenue. In the twelve months ended 31 December 2007 total revenue fell 0.6% to EUR6.06 billion (USD9.16 billion) while net income dropped 12.4% to EUR958 million (USD1.4 billion) from EUR1.09 billion in 2006. EBITDA fell 5.5% to EUR2.03 billion (USD3.07 billion) with EBITDA margins at 33.5%, dropping from 38.7% in 2006. Wireless division Proximus reported 6.7% subscriber growth to 4.6 million while Belgacom TV almost doubled its subscription numbers to 305,000. Broadband services reported 9.9% growth in subscriber numbers, taking the total to 1.2 million. Fixed line services reported a loss of roughly 6% of access lines, falling to 2.9 million business and residential lines.

Belgium, Proximus