Source : EuropeanMarkets
Dominique Leroy, CEO of Proximus Group commented:
"I'm proud to see that the execution of our strategy has continued to translate into solid financial and operational achievements.
Our efforts in transforming Proximus into a customer-centric company delivering an excellent customer experience are paying off. Over the last year we have taken many initiatives for the benefit of our customers: Fixed-line customers are proactively being migrated to the latest technology and the roll-out of Vectoring has been accelerated.
End-September 2015, more than one out of four of our Fixed Internet customers were getting dedicated speeds of at least 70 Mbps, with a growing percentage already enjoying 100 Mbps. Furthermore, we launched the new TV experience, the SwipeBox, and have enriched our TV sports offer. We have further improved the indoor and outdoor 4G coverage, started the roll-out of 4G+ providing customers with mobile speeds of up to 225 Mbps and launched the Wi-Fi extender on FemtoCell technology. For our business customers we are accelerating fiber-to-the-business and we were the first in Europe to launch the LoRATM network,promoting the digital economy by enabling the Internet of Things.
The good execution of our customer centric strategy resulted in a sustained growth of our customer base and ARPU for Fixed Internet, TV and especially Mobile. In the third quarter 2015, we added 41,000 Voice postpaid cards, achieving the best quarter so far.
For the third quarter 2015, we grew the Core underlying EBITDA by 3.1%, further progressing from the prior quarters, while BICS too delivered another strong quarter.
Given these achievements, it is with confidence that we adjust upwards our full-year estimation for the Group underlying EBITDA, which we now expect to grow by 4% to 5%."
Financial Highlights
In the third-quarter of 2015, the Proximus Group generated underlying revenue of EUR 1,509 million, a 2.5% increase compared to the third-quarter of 2014.
Proximus’ third-quarter 2015 underlying Group EBITDA totaled EUR 447 million, a 3.3% improvement compared to the same period of 2014. Proximus’ Core business posted EUR 406 million EBITDA, a 3.1% increase year-on-year and sequentially improving from the prior two quarters. BICS’ third quarter 2015 EBITDA was year-on-year up by 5.7%.
Proximus’ third-quarter Capex totaled EUR 200 million. Proximus invested amongst others in the expansion of its 4G outdoor and indoor coverage, and the launch of 4G+. The Fixed network was further upgraded, bringing dedicated speeds of at least 70 Mbps to more than one on four of Proximus’ installed internet base, with an increasing part receiving 100 Mbps.
In the third quarter 2015, Proximus generated solid Free Cash Flow of EUR 306 million bringing the Group’s Free Cash Flow over the first nine months of 2015 to EUR 522 million.
Outlook
Through the good progress on its ‘Fit-for-Growth’ strategy, the company closed another quarter with solid financial results. Taking into account the achievements so far, and its best estimate for the remainder of the year, Proximus’ management expects the underlying Group EBITDA to grow by 4% to 5%.
The 2015 full-year Capex estimate of around EUR 900 million does not take into account the Capex required for the tacit extension of the 900Mhz/1800Mhz spectrum for the period 2015 to 2021 for an amount of EUR 75 million.
Source : Press Release Proximus, Brussels (Belgium), October 30, 2015
