Q4 2024 Proximus NV Earnings Call Transcript
Key Points
- Proximus SA (BGAOF) reported a 3.4% revenue growth for the full year of 2024 in its domestic segment, exceeding expectations.
- The company achieved its bold 2025 target one year earlier, with a total domestic EBITDA growth of 2.8%.
- Proximus Global saw a 16% increase in direct margin growth for communications and data in Q4 2024, contributing to a 6.2% EBITDA growth for the full year.
- The company expanded its fiber coverage significantly, passing over 2.2 million homes and businesses by the end of 2024.
- Proximus SA (BGAOF) secured several significant B2B deals, including a seven-year cybersecurity contract worth over EUR100 million with the Belgium Federal government.
- The company faces challenges from new market entrants like Digi, which could impact its competitive dynamics.
- There was a 4.4% decline in mobile services revenue and a 7% drop in fixed voice revenue in the B2B unit.
- Proximus SA (BGAOF) experienced higher operating expenses due to factors like inflation, customer-related expenses, and transformation costs.
- The adjusted free cash flow for 2024 was EUR58 million, slightly lower than in 2023.
- The company anticipates continued cost pressures, including inflation and customer-related expenses, which may impact future financial performance.
Hello, and welcome to the Proximus Q4 2024 results conference. My name is Sergey, and I will be your coordinator for today's event. Please note this conference is being recorded. (Operator Instructions)
I will now hand you over to your host, Nancy Goossens, Investor Relations Lead, to begin today's conference. Thank you.
Thank you. Welcome, everyone. Thank you for joining us on this Proximus results webcast. We're keeping our usual format, starting the webcast by an introduction by the CEO, Guillaume Boutin, after which we will open the line for your questions. Before handing over to Guillaume, let me introduce you the other participants for this call on our side.
Today, we are joined by the Secretary General, Dirk Lybaert, and from the leadership squad, we have the CFO, Mark Reid; the Residential Lead, Jim Casteele; the IT Business Lead, Anne-Sophie Lotgering; and the Corporate Affairs lead, Ben Appel. They will be taking your questions in a moment, but first, Guillaume will take us
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