Belgacom points to regulatory impact as revenue remains flat in 1Q13

3 May 2013

Belgian fixed line incumbent Belgacom has cited the impact of regulatory measures as the main factor behind it posting a 0.1% decline in revenues in the first quarter of 2013. Publishing its financial results for the quarter ended 31 March 2013, Belgacom reported total turnover of EUR1.586 billion (USD2.083 billion), down from EUR1.588 billion in the same period of 2012, though it noted that excluding regulatory effects revenues would, in fact, have been up 1.4% year-on-year. Similarly, EBITDA for the period under review was EUR441 million, down by 6.1% compared to 1Q12, though Belgacom said that the decline would have been 2.9% y-o-y, as a result of ‘increased pressure on direct margin and higher HR-expenses, partially offset by the containment of non-HR expenses’. Net income in 1Q13, meanwhile, stood at EUR171 million, down from EUR199 million.

Belgacom’s wireless subscriber base stood at 5.077 million at the end of March 2013, of which the bulk – 3.561 million – were residential users, down from 5.218 million (3.805 million residential) at end-March 2012. Broadband connections, meanwhile, totalled 1.647 million at the end of the period under review, up slightly from the 1.603 million reported in 1Q12, while fixed voice accesses fell to 3.031 million, down from 3.174 million.

Belgium, Proximus