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Proximus (PROX) investor relations material
Proximus Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Strong domestic performance in Q2 2025 with service revenue and EBITDA growth, offsetting Global segment headwinds and integration challenges.
Fiber network coverage surpassed 45% of Belgian homes and businesses, with over 80% 5G indoor coverage and 646,000 active fiber customers.
Signed MoU with Orange Belgium to accelerate fiber deployment and optimize network utilization in Wallonia, targeting 70% coverage.
Asset disposal program ahead of schedule, target raised to €600M by 2027 after early achievement of initial €500M goal.
Global segment faced accelerated headwinds in the CPaaS SMS market and integration challenges, partially offset by OpEx synergies.
Financial highlights
Domestic service revenue grew 1.1–1.6% in Q2, with EBITDA up 1.9% year-over-year.
Group EBITDA reached €491M in Q2, up 1.2% year-over-year; net income for H1 2025 was €313–318M, up over 64% year-over-year.
CapEx for H1 2025 was €542M, on track for full-year guidance of €1.3B.
Free cash flow for H1 2025 at €266M, with organic free cash flow at negative €5M, a year-over-year improvement.
Proximus Global revenue declined 18.8% in Q2, with direct margin down 10.8% and EBITDA down 5.4% year-over-year.
Outlook and guidance
Upgraded 2025 domestic EBITDA guidance to up to 2% growth; total domestic revenue expected to remain stable.
Proximus Global EBITDA guidance revised to a 5–10% year-over-year decline, compared to previous 20% growth expectation.
Group EBITDA growth now expected up to 1% for 2025, down from 2% previously; CapEx and organic free cash flow guidance unchanged.
Dividend policy confirmed at €0.60/share for 2025, split between interim and final payments.
Net debt/EBITDA expected around 3.0x for FY 2025.
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