Q1 2025 Proximus NV Earnings Call Transcript
Key Points
- Proximus SA (BGAOF) reported a strong financial quarter for the Domestic segment with both revenue and EBITDA growing year-over-year.
- 5G coverage in Belgium has surpassed 75%, and fiber coverage has reached over 43% of Belgian homes and businesses.
- The Global segment achieved a strong EBITDA growth of 15.3% year-over-year, driven by a 4% increase in direct margin and lower operational expenses.
- Proximus SA (BGAOF) is on track with its asset disposal program, having confirmed EUR330 million in proceeds, aiming for over EUR500 million by 2027.
- The company has maintained a positive net addition in its Residential unit for both Internet and mobile post-paid, despite increased competition from new market entrants like DIGI.
- The competitive landscape has intensified with the entry of DIGI, impacting market dynamics and increasing pressure on pricing strategies.
- The Business unit experienced a net loss of 15,000 mobile post-paid customers, partly due to the loss of a large contract and aggressive competitive pricing.
- Organic free cash flow was negative EUR36 million, although it showed improvement from the previous year.
- There is ongoing uncertainty regarding macroeconomic developments and potential impacts on the Global segment's revenue and EBITDA growth.
- The fiber network rollout is progressing, but the company is still working towards its target of 50% home pass by the end of 2025, with collaboration discussions ongoing.
Hello and welcome to the Proximus Q1 results 2025 analyst conference call. My name is Francois and I'll be your coordinator for today's event. Please note this conference is being recorded. (Operator Instructions) I will now hand you over to Nancy Goossens, Investor Relations Lead, to begin today's call. Thank you.
Thank you. Welcome everyone. Thank you for joining the Proximus results webcast. We will start with our presentation. And as per usual, we will address any questions you may have after. The presenters for today are CEO Interim, Jan Van Acoleyen; and the Group CFO, Mark Reid. For the Q&A, we are joined by the Residential Lead, Jim Casteele, as well as by the two business leads, Anne-Sophie Lotgering for the IT part and Renaud Tilmans for the telco part. And we also have our Corporate Affairs, Ben Appel. They will be taking your questions in a moment. But first, handing over to Jan to take you through the highlights of today. Jan, please go ahead.
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