Q2 2026 Proximus NV Earnings Call Transcript
Key Points
- Proximus SA (BGAOF) delivered another solid commercial quarter, adding 25,000 mobile postpaid cards, 8,000 internet subscribers, and 12,000 convergent residential customers.
- The company reached key fiber milestones, expanding its footprint to 2.75 million homes (43% population coverage) and adding 44,000 active fiber customers, bringing the total to 820,000.
- The Belgian Competition Authority approved the network collaboration agreement in Flanders with Wyre and Telenet, which is expected to enable a more capital-efficient fiber rollout and improve rollout economics.
- Proximus SA (BGAOF) reiterated its full-year guidance across all domestic and group metrics, and narrowed its global EBITDA guidance range to EUR110-120 million, reflecting greater confidence in margin trends.
- The company remains confident in achieving its long-term ambition of restoring organic free cash flow to EUR400 million by 2030, supported by a gradual decline in CapEx after the 2027 peak.
- Proximus Global received external validation, being ranked the number one global leader in Sponsored Roaming by Juniper Research and recognized as a leader in the 2026 Gartner Magic Quadrant for CPaaS.
- Proximus SA (BGAOF) continued to see gradual erosion in its fixed voice and TV customer bases during the second quarter.
- B2B services revenue declined by 3% year-on-year, reflecting continued pressure on legacy services such as fixed voice and traditional data connectivity, which was not fully offset by growth in internet services.
- Global EBITDA declined to EUR29 million in Q2 2026, with OpEx increasing year-over-year due to inflationary effects and initial growth investments, though direct margins are stabilizing.
- Group free cash flow was negative at EUR-82 million in the first half, including the Unifiber acquisition cash out, and on an organic basis it was minus EUR25 million, a decline from minus EUR5 million in the prior year.
- The company noted that the duct access agreement could provide tailwinds to competitors, potentially enabling them to overbuild networks in dense areas faster, which could increase competitive pressure.
- The Wallonia network partnership with Orange is still pending regulatory approval, with an expected completion date of end of Q1 2027, adding uncertainty to the medium-term CapEx trajectory.
Hello and welcome to the Proximus Q2 2026 results. My name is [Gaya] and I will be your coordinator for today's event. Please note that during the conference, the conference is being recorded (Operator Instructions)
I will now hand you over to your host Nancy Gossens, Investor Relations Lead, begin today's conference. Thank you.
Thank you, [Gaya] Ladies and gentlemen, welcome to our webcast covering the Q2 results. As usual, we will begin with the presentation before opening the floor for your questions. Joining me today are Stijn Bijnens, the CEO; Nicolas Gaertner, Interim CFO; Seckin Arikan, Global CEO; and Jim Casteele, the Head of B2C and AI.
So let's now turn to today's highlights. Stijn, over to you.
Welcome also from my side to our second quarter '26 results presentation. I will take you through the key messages from today's release. They are summarized on this slide, but I will
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
