April 30, 2020 / 5:59 AM / a month ago

BRIEF-Proximus Q1 Net Income Up At EUR 153 Mln, FY Guidance Reiterated

April 30 (Reuters) - PROXIMUS NV:

* ANNOUNCES Q1 RESULTS

* FOR ITS DOMESTIC OPERATIONS, PROXIMUS POSTED Q1 UNDERLYING REVENUE OF EUR 1,086 MILLION, -1.0% BELOW THAT OF THE PRIOR YEAR.

* Q1 COMPANY-COMPILED CONSENSUS: DOMESTIC UNDERLYING REVENUES EUR 1.07 BILLION, DOMESTIC UNDERLYING EBITDA EUR 425 MILLION

* Q1 COMPANY-COMPILED CONSENSUS: NET INCOME GROUP SHARE EUR 131 MILLION, GROUP CAPEX (EXCLUDING. SPECTRUM) EUR 251 MILLION

* PROXIMUS POSTED FOR ITS DOMESTIC OPERATIONS A STABLE Q1 EBITDA OF EUR 428 MILLION, +0.1% ON THE PRIOR YEAR.

* POSTED A STRONG Q1 FCF OF EUR 152 MILLION FOR THE FIRST QUARTER OF 2020

* FULL-YEAR 2020 GUIDANCE REITERATED

* SOLID FIRST QUARTER 2020 FCF OF EUR 152 MILLION.

* THE BIPT PROCEEDED WITH THE ALLOCATION OF SPECTRUM IN THE 3600-3800MHZ BAND ON A TEMPORARY BASIS.

* CONCERNING THE CURRENT 2G LICENSES WHICH WILL EXPIRE IN MARCH 2021, THE BIPT PROPOSES TO FORESEE THE POSSIBILITY TO EXTEND THESE LICENSES BY SIX-MONTH PERIODS

* Q1 NET INCOME GROUP SHARE EUR 153 MILLION VERSUS EUR 131 MILLION IN COMPANY-COMPILED CONSENSUS

* JOINT VENTURE WITH ORANGE BELGIUM IN CHARGE OF THE MOBILE ACCESS NETWORK OPERATIONS HAS BEEN SUBSEQUENTLY ESTABLISHED AND OPERATIONAL SINCE 1 APRIL 2020.

* REITERATES INTENTION TO RETURN OVER THE RESULT OF 2020, 2021 AND 2022 ANNUAL GROSS DIVIDEND OF EUR 1.2 PER SHARE, TO BE CONSIDERED AS A FLOOR

* FY OUTLOOK INCLUDES CO’S BEST ESTIMATE FOR COVID-19 IMPACT ON REVENUE AND OPERATIONS, CONSIDERS THAT IMPACTS ON THE GROUP EBITDA WOULD BE COMPENSATED BY CAPEX ADJUSTMENTS Source text: prx.ms/2KPc056 Further company coverage: (Gdansk Newsroom)

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