Higher Proximus turnover and profit in the first quarter

(ABM FN) Proximus maintained strong commercial momentum in the first quarter of 2024 and achieved an excellent EBITDA increase of 5 percent. The telecom group announced this on Friday morning.

Turnover in the home markets increased by 4.5 percent to 1.2 billion euros in the first quarter, with an increase in service turnover of 6.5 percent for Residential and 2.7 percent for Business.

EBITDA in the home markets amounted to EUR 424 million in the first quarter. That was an increase of 4.7 percent year-on-year thanks to strong direct margin growth of 5.4 percent.

International EBITDA increased by 8.6 percent to 30 million euros and was supported by the growth of the direct margin from “Communications & Data” by 0.9 percent and lower costs.

Proximus’ underlying turnover amounted to 1.5 billion euros in the first quarter of 2024, an increase of 1.2 percent year on year. Underlying EBITDA amounted to 454 million euros, or an increase of 5.0 percent on an annual basis.

The capex for the first quarter of 2024 amounted to 294 million euros and the adjusted free cash flow to -112 million euros, influenced by the timing of working capital.

The outlook for the full year 2024 was confirmed by Proximus on Friday. This means a return to EBITDA growth in the home markets and EBITDA for the entire group.

The company is preparing for the arrival of Route Mobile to take the next step in the development of its international growth plans, CEO Guillaume Boutin said in a statement.

Source: ABM Financial News

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