Proximus said its revenue declined by 3.4 percent to EUR 1,544 million for the second quarter of 2025.
The Domestic segment showed more stability, with revenue declining marginally by 0.7 percent to EUR 1,192 million, as growth in services partly offset declines in terminal and IT hardware sales.
Residential revenue increased by 1.2 percent, driven by 2.5 percent growth in customer services and 5.4 percent growth in convergent revenue, aided by a price adjustment in January 2025.
The Business unit, however, saw a 4.4 percent revenue decline, primarily due to reduced product sales following a strong first quarter, although IT services revenue improved slightly.
Wholesale revenue dropped by 3.9 percent, with gains in wholesale services not fully offsetting lower interconnect revenue.
Proximus Global revenue dropped by 18.8 percent to EUR 367 million, hit hard by headwinds in the CPaaS SMS market and not sufficiently supported by growth in other channels.
Stijn Bijnens will be assuming the position of CEO at Proximus on September 1.
ARPU
Proximus’ convergent customers recorded an average revenue per customer (ARPC) of €91.2, up 1.0 percent year‑on‑year, supported by January price indexation and growing fiber uptake, though somewhat offset by lower out‑of‑bundle usage following the April 2025 portfolio refresh.
Fixed‑only customers—which continued to decline in total numbers—contributed an ARPC of €49.8, up 1.2 percent versus Q2 2024, reflecting price indexing and fiber upgrades amid ongoing erosion of legacy contracts.
For Fixed Voice, ARPU rose by 2.5 percent year‑on‑year to €28.8, even as line counts fell by 15,000 in the quarter, a trajectory consistent with successive quarters of declines in fixed voice usage.
On the Business side, mobile postpaid ARPU came in at €18.7, down 2.6 percent year‑on‑year, reflecting competitive pressure and reduced out‑of‑bundle spend within a softer commercial environment.
Subscribers
Proximus reported continued customer growth in several key areas during the second quarter of 2025, despite a competitive market. The Residential segment added 36,000 mobile postpaid cards, bringing the total to 3.036 million, reflecting a 3.9 percent year-on-year increase.
Broadband lines rose by 8,000 to 1.827 million, supported by fiber expansion, while the convergent customer base grew by 11,000 to reach 1.194 million, up 4.2 percent from the previous year. Fixed voice lines continued to decline, with a loss of 24,000 lines, down 10.1 percent year-on-year. The Mobile-only customer base grew by 8,000, while prepaid subscribers declined by 13,000, dropping to 429,000.
In the Business segment, the mobile postpaid base remained stable at 1.768 million, and M2M cards increased by 12,000 to 4.314 million. Business broadband lines decreased slightly to 448,000, influenced by a reallocation to the Residential unit.
The Fixed Voice line base in Business dropped by 15,000 in the quarter. Wholesale services saw higher MVNO volumes, contributing to growth in that area. Overall, Proximus experienced subscriber gains in fiber, mobile postpaid, and convergent offers, while legacy services like fixed voice and prepaid continued to decline.
Capex
Proximus reported capital expenditures of EUR 272 million in Q2 2025, bringing total investment for the first half of the year to EUR 542 million—down EUR 43 million from the same period in 2024. The year-on-year decline in Capex was mainly due to the timing of TV content contract renewals.
However, fiber-related investments increased, driven by the consolidation of Fiberklaar in August 2024. Fiber deployment accounted for 30 percent of total Capex, up from 24 percent a year earlier.
Proximus’ fiber network reached 2.416 million premises by June 2025, covering over 40 percent of the population, or more than 45 percent when including “Fiber in the Street” areas. Investment in customer connections and activations declined due to greater efficiency from DIY installations and increased reuse of customer equipment.
Proximus Group maintained its full-year Capex guidance of around EUR 1.3 billion (excluding spectrum and football rights). Free cash flow improved significantly, with reported FCF rising to EUR 266 million in H1 2025, compared to a negative EUR 727 million in H1 2024, driven by divestments and improved operational cash generation. Organic FCF was negative EUR 5 million, a substantial improvement from negative EUR 115 million a year earlier.
Baburajan Kizhakedath
