Belgacom claims to have ‘continued its solid commercial traction’ in 2Q14

1 Aug 2014

Belgacom registered a minor decline in revenues in the three months ended 30 June 2014, with the company reporting a total turnover of EUR1.568 billion (USD2.15 billion), down 0.9% against the EUR1.583 million generated a year earlier. However, it said that on a like-for-like basis, and excluding a EUR46 million capital gain on building sales recorded in 2Q14 and the impact from the deconsolidated subsidiaries, revenue was actually 1.1% lower than the same period a year earlier.

Second quarter earnings before interest, tax, depreciation and amortisation (EBITDA) totalled EUR491 million, up 14% year-on-year, with Belgacom reporting an operating loss of EUR207 million in the period under review, compared a loss of EUR200 million in 2Q13. Net income, meanwhile, stood at EUR251 million in 2Q14, representing an almost 62% rise against the EUR155 million recorded in the corresponding period of 2013.

In operational terms, at the end of June 2014 Belgacom’s mobile subscriber base totalled 5.290 million, up from 5.133 million a year earlier, while fixed broadband and pay TV accesses numbered 1.704 million (up from 1.652 million) and 1.525 million (1.428 million), respectively.

Commenting on the results, Belgacom CEO Dominique Leroy noted: ‘Our growing customer base for TV, Internet and especially mobile, combined with our disciplined pricing strategy, resulted in sound topline trends for both the Consumer and Enterprise segments. Furthermore, the implementation of our ‘Fit for Growth’ strategy is also showing in good cost control, leading to a solid underlying EBITDA for the second quarter. Encouragingly, some first structural cost benefits are being realized, bringing us a step closer to our EBITDA growth objectives in 2016. ‘

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