Proximus Group has introduced two new strategic roadmaps – ‘Amplify’ for its Domestic operations and ‘Elevate’ for its Global business – alongside updated financial targets through 2028-2030, signaling a sharper focus on network leadership, AI-driven efficiency and sustainable shareholder returns.
Amplify: Strengthening Domestic Telco and IT Leadership
Under the Amplify plan, Proximus aims to consolidate its leadership in the Belgian telecom market, particularly in the B2C segment, while accelerating profitable IT growth in B2B.
A key pillar of the strategy is infrastructure control and optimization. Proximus intends to enable and own gigabit access nationwide, supporting a more rationalized fiber rollout and optimized network utilization. This approach will also accelerate copper network decommissioning, lowering long-term operating costs.
The company will further reinforce its mobile market leadership while transforming network operations through AI to improve efficiency and customer experience. Software-defined capabilities and edge infrastructure will also play a central role in delivering advanced enterprise services.
Operational simplification and AI-led automation are expected to drive workload reductions. Proximus plans to manage workforce changes gradually through natural attrition and retirements, avoiding social disruption. At the same time, the company will invest in re-skilling and up-skilling programs to maintain workforce competitiveness and enable internal mobility.
Elevate 2030: Expanding Global Digital Capabilities
The Elevate 2030 strategy targets growth in Proximus’ international operations by leveraging the strengths of BICS, Telesign, and Route Mobile.
The Global division aims to become a worldwide leader in connectivity and a trusted partner for secure digital interactions. Its priorities include:
Capturing high-growth opportunities in omnichannel communications and digital identity
Monetizing Network APIs to unlock new revenue streams
Enhancing governance and execution discipline
Creating strategic optionality for long-term value crystallization
Proximus reiterated its ambition for the Global division to return to EBITDA growth by 2027 following its ongoing transformation.
Financial Ambitions for 2026-2028
For the 2026-2028 period, Proximus is targeting:
A 1 percent CAGR in Domestic services revenue
Broadly stable Domestic EBITDA
Gradual improvement in organic free cash flow from 2026 onward
Net debt to EBITDA maintained below 3.0x under the S&P definition
Domestic capital expenditure is expected to remain close to EUR 1.2 billion by 2028 as fiber investments continue. Free cash flow during 2026 and 2027 will reflect the transformation and recovery phase in the Global segment.
2030 Outlook: Lower Capex, Higher Free Cash Flow
By 2030, as the fiber rollout nears completion, annual capex is projected to fall below EUR 1 billion. This reduction is expected to significantly lift organic free cash flow to around EUR 400 million by 2030, strengthening the company’s financial flexibility, Stijn Bijnens said.
Proximus is planning Capex of EUR 1.2 billion – EUR 1.25 billion in 2026 against EUR 1.249 billion in 2025. Proximus is targeting Capex of EUR 1.2 billion by 2028.
Progressive Dividend Policy
Proximus plans to maintain an attractive dividend policy aligned with future free cash flow generation while preserving a solid balance sheet.
The company intends to propose the following gross dividends per share:
EUR 0.30 over 2026 results
EUR 0.40 over 2027 results
EUR 0.50 over 2028 results
Dividends will be paid in a single installment after approval by the Annual General Meeting. The remuneration policy remains subject to annual board review and potential adjustments based on market conditions and business performance.
Through Amplify and Elevate, Proximus is positioning itself for disciplined growth, AI-enabled transformation and stronger long-term shareholder value creation.
BABURAJAN KIZHAKEDATH
