Proximus Reports Q3 2023 Results with Positive Domestic Revenue Growth and Fiber Expansion

Proximus Group, a leading telecommunications provider in Belgium, has released its financial results for the third quarter of 2023, demonstrating positive domestic revenue growth and significant progress in expanding its Gigabit Fiber network.
Proximus fiber businessFor the third quarter of 2023, Proximus Group reported total revenue of EUR 1,527 million, marking a 1.1 percent increase. However, the Group’s EBITDA totaled EUR 458 million, representing a decrease of 0.4 percent.

Key highlights from Proximus’ Q3 2023 results include:

Domestic Revenue: Proximus’ Domestic revenue increased by an impressive 4.3 percent, reaching EUR 1,173 million. Within this, the Residential unit achieved a remarkable 5.5 percent revenue growth, with Customer Services revenue improving by 6.2 percent (a EUR 28 million increase) and revenue from Terminals rising by EUR 10 million. The Convergent revenue saw significant growth, up by 10.0 percent, driven by customer expansion and price increase.

Business Unit Performance: Proximus’ Business unit achieved a revenue growth of 4.1 percent, including a 3.4 percent increase in Business Services revenue. This growth was driven by a 10.2 percent increase in Business IT services and a 5.6 percent increase in Fixed Data revenue, with revenue from products increasing by EUR 7 million.

Telesign Growth: Telesign, a subsidiary of Proximus Group, closed the third quarter with revenue growth of 5.2 percent, reaching EUR 132 million. The direct margin also increased by 7.9 percent to EUR 30 million, driven by the expansion of the customer base outside the US and an increase in omnichannel volumes.

Fiber Expansion: Proximus reported that its Gigabit Fiber network made significant progress, covering 26 percent of the Belgian population. This network now connects nearly 1.6 million homes and businesses in 133 cities. Proximus welcomed BIPT’s announcement of evaluating Fiber cooperation among different operators in Belgium, which aims to make fiber more accessible to all citizens and businesses, contributing to the competitiveness of Belgian society.

Proximus Group CEO Guillaume Boutin expressed satisfaction with their performance, saying, “Our continued commercial momentum is driven by our multi-brand strategy and our network and product superiority. These elements, along with our well-calibrated pricing strategy, contributed to a notable 4.3 percent rise in Domestic revenue.”

The company’s commitment to expanding its Gigabit Fiber network and contributing to the development of high-speed internet infrastructure in Belgium is evident in its ongoing investments in fiber-related projects and digitalization.

Proximus Group’s financial results for the third quarter of 2023 reflect both strong domestic revenue growth and its dedication to enhancing the digital connectivity landscape in the country.