Proximus on track for FY21 outlook following 2.4% rise in Q3 underlying revenues

29 Oct 2021

Belgian full-service telecom operator Proximus has announced a 2.4% year-on-year increase in group underlying revenue to EUR1.4 billion (USD1.6 billion) for the third quarter of 2021, with a 12.6% increase in revenue in its international business (EUR263 million) offsetting a 0.8% drop in domestic segment revenue to EUR1.085 billion. Group underlying EBITDA declined 2.6% to EUR457 million in the reporting period, including a 3.2% drop in domestic EBITDA (EUR424 million), while accrued CAPEX (excluding spectrum and football broadcasting rights) totalled EUR239 million in the quarter, bringing the total during 9M21 to EUR736 million, a 17% y-o-y increase driven by the company’s accelerated fibre deployment programme.

Across the group as a whole, Proximus ended the reporting period with 2.163 million broadband subscriptions (a 1.9% y-o-y increase from 2.122 million in 3Q20), 1.707 million TV customers (up 2.6%) and 2.049 million fixed voice subscriptions (a decline of 9.9%), while its mobile subscription base (excluding M2M) rose to 5.320 million compared with 4.873 million twelve months earlier. During the third quarter, Proximus’ fibre network passed an additional 65,000 premises to increase its footprint to a total of 686,000 homes and businesses, equivalent to fibre coverage of 11%.

The company said it still expects to achieve its organic underlying Group EBITDA outlook, which is expected to land in the mid to upper part of the guidance range of EUR1.750 billion to EUR1.775 billion. With its fibre rollout on track, the group expects to end the year with accrued CAPEX (excluding spectrum and football rights) of approximately EUR1.2 billion.

Belgium, Proximus