2024-07-26 13:43:06 ET
Proximus PLC (BGAOF)
Q2 2024 Earnings Conference Call
July 26, 2024, 8:00 AM ET
Company Participants
Nancy Goossens - Investor Relations
Guillaume Boutin - Chief Executive Officer
Mark Reid - Chief Financial Officer
Jim Casteele - Consumer Lead
Ben Appel - Corporate Affairs Lead
Conference Call Participants
David Vagman - ING
Joshua Mills - BNP Paribas Exane
Dhruva Shah - UBS
Titus Krahn - Bank of America
Nuno Vaz - Bernstein
Justin Funnell - Nextgen Research
Siyi He - Citi
Presentation
Operator
Hello. And welcome to the Proximus Q2 Results 2024. My name is Laura, and I will be your coordinator for today’s event. Please note this conference is being recorded and for the duration of the call your lines will be on listen-only. However, you will have the opportunity to ask questions at the end of the presentation. [Operator Instructions]
I will now hand you over to your host, Nancy Goossens, Investor Relations Lead to begin today’s conference. Thank you.
Nancy Goossens
Thank you. Welcome ladies and gentlemen to this Proximus webcast. We have today some ground to cover. So, in addition to the second quarter results, we will also spend some time on the strategic announcements of last night. We will of course still foresee some time for your questions.
Before we get started, let me just introduce the participants on our side. Here with me today, I have the CEO, Guillaume Boutin; the CFO, Mark Reid; the Consumer Lead, Jim Casteele; and the Corporate Affairs Lead, Ben Appel.
Let’s now start the presentation. Guillaume, the floor is yours.
Guillaume Boutin
Thank you, Nancy. And with the year now halfway, it’s a good time to reflect a moment on some of our major achievements. Overall, I’m very pleased with our commercial achievements so far, showing a continued strong customer growth for our main product groups. Our Residential unit, for example, added another 46,000 mobile cards over the past quarter in a very competitive market. For Fiber, we activated an additional 40,000 customers and we continued deploying at high speed to reach a Fiber industry footprint of 38%.
Our International segment grew its direct margin by 7% in Q2, benefiting from its unique position in the global digital communications market and ready for its growth trajectory. All in all, this has led to our group EBITDA growing by 5.3% for the second quarter, a strong result that fueled our announced guidance upgrade.
The past month also has been very eventful. Not only did we close the Route Mobile acquisition, we also centralized our B2B IT activities into a dynamic new subsidiary, Proximus NXT IT, to better serve professional customers in the Benelux. And then, of course, the most recent news, the signing of the Fiber MoU for collaboration in Flanders and Proximus obtaining full ownership of Fiberklaar. Overall, our strategic progress is intended to safeguard a sound organic free cash regeneration. We’ll do a deeper dive on this in a moment....
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Proximus PLC (BGAOF) Q2 2024 Earnings Call Transcript