Proximus Raises Full-Year Guidance, Driving Share Price Increase

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Proximus, the telecom company, experienced a surge in share price on Friday following an upward revision of its full-year guidance, which was fueled by increased third-quarter revenue.

Strong Growth Predicted for Domestic Revenue

Proximus now expects a growth in domestic revenue between 3.5% and 4% for the year, surpassing the previously forecasted range of 1% to 3%. This positive trajectory demonstrates the company’s robust performance and market strength.

Adjusted Earnings Outlook

The company also adjusted its earnings expectations at the group level. Underlying earnings before interest, taxes, depreciation, and amortization are projected to decline by approximately 2% compared to the previous year. This revision is an improvement from the previously anticipated decline of 3%, indicating a more favorable outlook for Proximus.

Strong Q3 Performance

Proximus reported a substantial increase in domestic revenue during the third quarter, reaching 1.17 million euros ($1.2 million), representing a 4.3% growth. Additionally, the company’s total revenue saw a year-on-year rise of 1.1% to EUR1.53 billion, reflecting the consistent upward trend.

Q3 Profit and EBITDA Figures

Despite the overall positive performance, Proximus experienced a net profit decline of 37% to EUR79 million in the third quarter compared to the same period last year. However, it is important to note that the EBITDA figures remained relatively stable, with EUR458 million reported for the current period and EUR460 million for the previous year.

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