Proximus reports 1.5% decline in underlying group revenues in 1Q20

30 Apr 2020

Belgian full-service telecoms operator Proximus has published its financial results for the three months ended 31 March 2020, reporting a 1.5% decline in underlying group revenues to EUR1.393 billion (USD1.512 billion), which it attributed to the impact of European regulations on tariffs for international calling and texting, ongoing inbound revenue loss and a limited negative impact from the COVID-19 pandemic. EBITDA was up 0.3% to EUR464 million on the back of a 4.5% reduction in operating costs.

Proximus ended the reporting period with 2.09 million broadband customers (a year-on-year increase of 1.2%), 1.641 million TV subscribers (up 0.9% y-o-y), while the number of fixed voice customers fell 6.5% to 2.349 million. The company reported a wireless subscriber base of 4.831 million at the end of March 2020, up from 4.818 million in the year-ago quarter, including 30,000 mobile post-paid net additions. M2M subscribers rose to 1.91 million in 1Q20, compared with 1.438 million the previous quarter.

Proximus CEO Guillaume Boutin stressed that there are no signs the financial impact of the COVID-19 crisis will be worse than anticipated and maintained the group’s full-year 2020 guidance of underlying group EBITDA minus CAPEX of between EUR780 million and EUR800 million.

Belgium, Proximus