Brief: Proximus Q4 Underlying Ebitda EUR 421 Mln, Vs EUR 419 Mln In Consensus

Proximus NV

23/02/2024 06:22

Feb 23 (Reuters) - Proximus NV  PROX.BR :
    * FOR 2024, PROXIMUS CONFIRMS ITS BOLD 2025 AMBITION TO
RETURN TO
GROWTH FOR DOMESTIC AND GROUP EBITDA
    * OUTLOOK: IN LINE WITH ITS BOLD 2025 AMBITIONS, PROXIMUS
EXPECTS
ITS DOMESTIC REVENUE TO GROW BY UP TO 1% IN 2024
    * Q4 TOTAL GROUP UNDERLYING EBITDA EUR 421 MLN VS EUR 419
MLN IN
COMPANY-COMPILED CONSENSUS
    * Q4 NET INCOME EUR 90 MLN VS EUR 69 MLN IN COMPANY-COMPILED
CONSENSUS
    * Q4 TOTAL GROUP UNDERLYING REVENUES EUR 1,534 MLN VS EUR
1,565
MLN IN COMPANY-COMPILED CONSENSUS
    * OUTLOOK: PROXIMUS WILL FURTHER PROGRESS IN ITS COST
EFFICIENCY
PROGRAM, TARGETING A TOTAL OF EUR 220 MILLION SAVINGS OVER THE
3-YEAR PERIOD 2023-2025
    * OUTLOOK: FOR EBITDA, ITS BOLD 2025 AMBITION TO RETURN TO
GROWTH,
UP TO +1% FOR 2024, ON AN ORGANIC BASIS
    * BOARD PROPOSES GROSS DIVIDEND OVER 2023 RESULT OF EUR 1.20
PER
SHARE, EUR 0.70 TO BE PAID IN APRIL 2024 VS EUR 0.5 IN
COMPANY-COMPILED CONSENSUS
    * OUTLOOK 2024: GROUP NET DEBT TO EBITDA RATIO IS EXPECTED
TO BE
AROUND 2.7X
    * OUTLOOK 2024: THE GROUP CAPEX IS EXPECTED TO DECREASE FROM
ITS
PEAK IN 2023 AND BE AROUND EUR 1.2 BLN FOR 2024
    * OUTLOOK: WITH THE CLOSING OF THE TRANSACTION WITH ROUTE
MOBILE,
IN WHICH PROXIMUS GROUP WILL OBTAIN A MAJORITY STAKE, EXPECTED
IN THE APRIL-MAY TIMEFRAME
    * FY 2023 CAPEX AT EUR 1,325 MLN AND ADJUSTED FCF AT EUR 61
MLN,
INCLUDING EUR 96 MLN FOR Q4
    * WILL REBASE ITS DIVIDEND LEVEL TO EUR 0.60 PER SHARE FOR
THE
YEARS 2024 AND 2025

Source text for Eikon:  urn:newsml:reuters.com:*:nNDL42y2Wc
Further company coverage:  PROX.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 587 785 110;))