Proximus SA

Latest Results (13.10.2025):

In the second quarter of 2025, Proximus SA demonstrated a mixed financial performance. While the Domestic segment showed growth in Residential services and EBITDA, the Global segment faced challenges leading to a decline in EBITDA. Overall, the Group's underlying revenue decreased, but EBITDA saw a modest increase. Proximus SA continues to invest in its fiber infrastructure and has revised its full-year EBITDA guidance.

Residential Growth

Proximus SA added 36,000 Residential Mobile Postpaid cards in Q2 2025, reflecting a robust performance in its highly competitive Domestic market. Residential convergent offers grew by 11,000 customers, marking a 4.2% year-on-year increase, driven by strong commercial performance and price adjustments.

Fiber Expansion

The company's fiber footprint expanded to over 2.4 million homes and businesses by the end of June 2025, achieving more than 45% coverage in the street. This expansion supports the continued growth of Proximus SA’s Domestic Internet base, adding 4,000 customers in total.

Revenue and EBITDA Performance

In Q2 2025, Domestic Services revenue increased by 1.1%, with Residential revenue up by 2.5%, while Business revenue declined by 1.1%. Total Domestic revenue fell by 0.7% year-on-year due to lower terminal and IT hardware sales. However, Domestic EBITDA rose by 1.9% compared to the same period last year.

Global Segment Challenges

Proximus Global faced increased headwinds in the CPaaS SMS market, resulting in a pro-forma EBITDA decline of 5.4%. Revenue in this segment decreased by 18.8% due to volume erosion and price competition, despite growth from other omnichannel solutions.

Capital Expenditure and Cash Flow

Proximus SA reported CapEx of EUR 542 million for the first half of 2025, primarily driven by fiber-related investments. The Group achieved a free cash flow of EUR 266 million for H1 2025, with an organic free cash flow of EUR -5 million, showing improvement from the previous year.

Full-Year Guidance

For the full year 2025, Proximus SA has revised its Group EBITDA guidance to 'up to +1%'. The Domestic EBITDA is expected to grow by up to 2%, while Global EBITDA is anticipated to decline, reflecting ongoing challenges in the global market.