Belgian operator Proximus reported fourth-quarter revenues of EUR 1.502 billion, down 0.3 percent on an underlying basis. The company's core activities recorded sales up 0.5 percent to EUR 1.117 billion, while the wholesale arm BICS posted revenues down 2.7 percent to EUR 385 million. EBITDA was up 8.4 percent from 2014 to EUR 414 million, and net profit rose 39.6 percent to EUR 139 million. Free cash flow was a negative EUR 112 million in Q4 due to the legal settlement with other operators, but reached a positive EUR 408 million over the full year. Proximus proposed a dividend of EUR 1.50 per share for the year and said it aims to pay the same amount next year.
Proximus spent EUR 303 million last quarter on capital investment. The fixed network was upgraded in 2015 so 43 percent of homes could receive vectoring, and a third of all households had access to over 100 Mbps broadband. The LTE network reached 98.8 percent outdoor coverage and 4G+ was available to 30 percent. For 2016, Proximus said it plans to step up investment in fibre to businesses and will increase capex to EUR 950 million in 2016 from EUR 926 million last year.
The company also forecast further growth in underlying core revenues in Belgium and group EBITDA in 2016, offset by the impact of EU roaming regulation and termination rate cuts and increased competition in Belgium. In 2015, the group met its increased outlook, with 2.1 percent annual growth in underlying core revenues and underlying EBITDA up 4.9 percent.
At the end of 2015, Proximus counted a total 1.856 million broadband customers, up by 28,000 in Q4, and TV customers grew by 44,000 to 1.759 million. Fixed telephony fell by 19,000 to 2.781 million subscribers, while mobile customers were up by 144,000 in the final quarter to 6.027 million, thanks to growth at postpaid and data-only. A total 43 percent of household and small business customers were on triple- or quad-play plans and 55.9 percent took both mobile and fixed services from the operator.
