Belgacom Reports H1 617264

Belgacom reports net income of €780M, up by 54.3% compared with the first half of 2004

August 26, 2005

2 Min Read

BRUSSELS, Belgium --

  • Group Revenues increased by 7.1% to EUR 2,947 million compared to June 2004. Excluding non-recurring items and adjusted for the disposal of consolidated companies in 2005 and for 2004 one-time revenue items, the Group’s revenue increased by 0.2%.

  • The Group EBITDA went up by 12.7% to EUR 1,392 million versus June 2004. Excluding non-recurring items and adjusted for disposed companies and 2004 one-time items, the Group’s EBITDA decreased by 4.0%.

  • Net Income (Group share) is EUR 780 million, up by 54.3% compared to June 2004

  • Free Cash Flow1 increased from EUR 587 million in June 2004 to EUR 1,014 million in June 2005

  • EPS is up from EUR 1.38 to EUR 2.23

  • Mobile Communications Services’ program to protect market share shows first positive results by decreasing the churn from 18.3% end 2004 to 17.0% in June 2005.

  • Fixed Line Services’ proactive customer retention, tariff simplification and continued winback efforts show their first positive impact on traffic market share.

  • International Carrier Services’ strategy proves to be successful as the total voice traffic with mobile destination increased by 27%

  • The Share Buy-back, started in May 2005, amounted to EUR 182 million at the end of June. The total program of EUR 300 million was completed on 17 August 2005, bringing the Belgacom owned shares to 5.9% of the total.

  • End of June 2005, Belgacom entered the iDTV market with Belgacom TV.



Financial Results

Comments on consolidated figures

The Belgacom Group revenue increased by 7.1% to EUR 2,947 million, including a non-recurring revenue recorded in the first half of 2005 (EUR 238 million, related to the gain on the sale of Belgacom Directory Services SA).

Excluding non-recurring items and adjusted for the disposal of consolidated companies in 2005 (Belgacom Directory Services SA, Digital Age Design SA and Expercom SA) and for 2004 one-time revenue items, the Group’s revenue increased by 0.2%. International Carrier Services recorded a double-digit revenue growth, while Mobile Communications Services and Fixed Line Services remained impacted by ongoing competitive pressure.

The operating income before depreciation and amortization (EBITDA) of the Group grew by 12.7% to EUR 1,392 million. Excluding non-recurring items and adjusted for disposed companies and 2004 one-time items, the Group’s EBITDA decreased by 4.0%.

Belgacom

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