Belgacom raises guidance following Q3 results

26 Oct 2012

Belgacom says that its group revenue for the third quarter of 2012 rose 1.5% year-on-year to EUR1.6 billion (USD2.1 billion) despite pressure from regulatory measures imposed on 1 July. EBITDA before non-recurring expenses slipped 2.7% to EUR460 million, although this is an improvement on the trend witnessed earlier in the year. The results prompted the Belgian telco to raise its guidance for full year 2012. Previously, revenue for the twelve-month period was forecast to decline by 1%, with EBITDA falling by between 5% and 6%. However, now the company sees revenue inching upwards by 1% and the decline in EBITDA being limited to be between 4% and 5%. During the three months ended 30 September 2012, Belgacom added 30,000 fixed voice lines to take its total to 3.119 million, while 39,000 wireless subscribers were added to lift its wireless subscriber base to 5.504 million. The telco’s fixed broadband subscriber base stood at 1.626 million after adding 12,000 new subscribers during the period.

Commenting on the results, Belgacom CEO Didier Bellens said: ‘In spite of competitive pressure, along with economic and regulatory headwinds, we saw our revenue trend improve further, while our EBITDA decline remained limited. Once again, our strategy of convergence provided support to our business drivers. Customers clearly appreciate our multi-play offers, with one in three packs added in the third quarter including a mobile solution. With the good performance so far and our expectations for the last quarter, we are comfortable in raising our full-year guidance.’

Belgium, Proximus