Proximus lowers profit forecast for 2025
Telecom operator Proximus is lowering its profit forecast for this year after a mixed second quarter. Presenting its half-year results on Friday, the company said it expected group earnings before interest, taxes, depreciation and amortisation (EBITDA) to grow by 1 per cent in 2025, instead of the previously forecast 2 per cent.
For its home markets, Proximus reported strong results for the second quarter and raised its EBITDA forecast for this year from “virtually stable” to “growth of up to 2 per cent”.
“Revenue in the home markets is expected to remain virtually stable, albeit with an improving mix, with higher revenue from services offsetting lower revenue from devices,” said CFO Mark Reid.
However, the outlook for the full group has been revised downwards. Interim CEO Jan Van Acoleyen: “Although we are confident that Proximus Global’s unique market position will create value in the medium term, we expect a slowdown in revenue and margin synergies in 2025."
In the second quarter, the group’s underlying revenue amounted to more than 1.54 billion euros, a decrease of 5.6 per cent, mainly due to lower revenue from Proximus Global and non-service revenue in the home markets. Underlying group EBITDA amounted to 491 million euros, an increase of 1.2 per cent year-on-year.
In response to the results, the group's share price fell sharply on Friday morning when the Brussels stock exchange opened. The share price fell by around 13 per cent by 9.30, settling at 7.13 euros.
The Belgian state holds a majority stake in Proximus. Stijn Bijnens will take up his position as the group’s new CEO on 1 September after the departure of Guillaume Boutin to Vodafone in the UK.
Fibre rollout
Meanwhile, Proximus and Orange have signed a memorandum of understanding to expand fibre rollout and access to gigabit networks in less densely populated areas in Wallonia.
The collaboration should benefit nearly 1.4 million households and businesses in areas with medium to low population density and enable approximately 70 per cent of Walloon households to be covered by a Fiber-to-the-Home network.
The two companies will continue to roll out their respective networks independently in large cities and densely populated areas. The official signing of a cooperation agreement is expected in the fourth quarter of this year at the earliest.
Proximus also announced on Friday that Proximus, Fiberklaar, Telenet and Wyre were “well advanced” in reaching an agreement in principle on the terms of a collaboration to accelerate the roll-out of fibre networks throughout Flanders.
Proximus CEO Stijn Bijnens (left) during a press conference in Brussels, 17 June 2025 © BELGA PHOTO JAMES ARTHUR GEKIERE
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