Proximus Group said its revenue for Q3 2024 rose 7.3 percent to EUR 1,638 million reflecting its focus on fiber business.
Domestic operations were the key driver, with revenue growing to EUR 1,191 million (+1.5 percent).
The Residential segment saw a +3.1 percent increase in revenue, totaling EUR 620 million, driven by a +6.9 percent rise in Convergent revenue.
Business unit revenue decreased by 1.2 percent to EUR 484 million, with IT hardware sales down by EUR 10 million.
While IT Services grew by 4.4 percent, other areas like Mobile Services (-3.6 percent) and Fixed Voice (-6.5 percent) saw declines.
Wholesale revenue grew by 3.3 percent to EUR 68 million, driven by a +21.5 percent increase in roaming revenue.
The International segment posted a -2.3 percent revenue decline, but showed strong growth in Roaming and IoT services.
The convergent ARPC was up by 0.8 percent to EUR 90.1 driven by the price indexation and a growing fiber customer base.
The increase in the customer base and ARPC drove the 3-Play convergent revenue 8.6 percent higher to reach EUR 129 million for the third quarter of 2024.
Capex for Q3 2024 was EUR 289 million, slightly below last year’s level, reflecting a slowdown in fiber deployment in dense areas.
An additional 98,000 homes were added this quarter across 167 cities where fiber construction is actively ongoing.
The number of active Residential and Business Fiber lines totaled 519,000, of which 38,000 were added during this past quarter.
The number of Proximus Residential internet base totaled 1,814,000 lines, a 2.5 percent increase from 12 months back, supported by the expanding Proximus’ Fiber footprint and the multi-brand approach.
Proximus is expanding its fiber network, now reaching 35 percent of Belgian premises (2.08 million), with its fiber in the street footprint hitting 40 percent.
Proximus Group’s Capex for the first nine months of 2024 reached €874 million, which is €30 million lower compared to the same period in 2023.
There was a decrease in Capex for fiber build in dense areas, but fiber deployment in medium-dense areas is increasing.
Investment to connect and activate fiber customers has risen year-on-year.
Proximus own fiber deployment accounted for 26 percent of the total Capex against 28 percent during the same period in 2023.
The consolidation of the mobile network between Proximus and Orange Belgium, managed by Mwingz, is ongoing, with Capex aligned to the consolidation pace.
