Belgacom reports 3Q results; EBITDA, revenues and net profit below expectations

7 Nov 2008

Belgium’s former fixed line monopoly operator, Belgacom, has announced a fall in both total revenues and earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months ended 30 September 2008. EBITDA was down to EUR503 million (USD646.7 million), a 4.7% drop from the previous year, whilst revenues fell EUR1.473 billion, down from EUR1.51 billion for the third quarter of 2007. Net profit meanwhile also dropped 7.3% year-on-year to EUR215 million. The operator noted that, despite the positive contribution from recent acquisition, Luxembourg-based Tele2 Tango, and increased revenues from TV and data, the negative impact of regulatory changes to its tariffs cost it EUR118 million in the three-month period.

Belgacom also revealed that it added 327,000 mobile subscribers over the twelve months to end-September 2008, bringing its total to 4.82 million, whilst broadband customers increased 113,000 year-on-year to reach 1.32 million.

Belgium, Proximus