reports
- Jan Frederik Slijkerman
Proximus meets headwinds/Daughter Proximus Global reduces FY25 outlook
Proximus has lowered its FY25 outlook because Proximus Global encountered unexpected headwinds. Although Proximus performed relatively well in Belgium, domestic competition is another source of uncertainty. Notably, Proximus is making slow progress to roll out fibre in Belgium together with competitors. The Proximus notes offer limited value, in our view.
- Anthony Dick
- Emira Sagaama
- Margaux van Oerle
- Michael Foundoukidis
- Usama Tariq
SOP SOPRA STERIA GROUP SA
VAC PIERRE & VACANCES SA
NXI NEXITY SA CLASS A
BIO BB BIOTECH AG
POM PLASTIC OMNIUM SE
MERY MERCIALYS SA
ASY ASSYSTEM SA
BEN BENETEAU SA
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
CGM CEGEDIM SA
FII LISI SA
LSS LECTRA SA
LNA LNA SANTE SA
GBT GUERBET SA
ATE ALTEN SA
ACX ACERINOX SA
FR VALEO SE
BAMNB KONINKLIJKE BAM GROEP NV
FAE FAES FARMA S.A.
COFB COFINIMMO SA
SUN SULZER AG
TUB TUBACEX S.A.
HEIJM HEIJMANS N.V. CERT
MBWS
CTAC MARIE BRIZARD WINE & SPIRITS SA
PAL CTAC N.V.
CON PALFINGER AG
LIGHT CONZZETA AG
NVG SIGNIFY NV
WBD NAVIGATOR COMPANY SA
RENE WEBUILD S.P.A.
ROVI REDES ENERGETICAS NACIONAIS SA
COL LABORATORIOS FARMACEUTICOS ROVI S.A.
ALM INMOBILIARIA COLONIAL SOCIMI SA
TEC ALMIRALL SA
HOME TECHNIPFMC PLC
VOS NEINOR HOMES SA
2CRSI VOSSLOH AG
VK 2CRSI SA
WDP VALLOUREC SA
ALHG WAREHOUSES DE PAUW SCA
LOUIS HACHETTE GROUP
- Anthony Dick
- Emira Sagaama
- Margaux van Oerle
- Michael Foundoukidis
- Usama Tariq
SOP SOPRA STERIA GROUP SA
VAC PIERRE & VACANCES SA
NXI NEXITY SA CLASS A
BIO BB BIOTECH AG
POM PLASTIC OMNIUM SE
MERY MERCIALYS SA
ASY ASSYSTEM SA
BEN BENETEAU SA
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
CGM CEGEDIM SA
FII LISI SA
LSS LECTRA SA
LNA LNA SANTE SA
GBT GUERBET SA
ATE ALTEN SA
ACX ACERINOX SA
FR VALEO SE
BAMNB KONINKLIJKE BAM GROEP NV
FAE FAES FARMA S.A.
COFB COFINIMMO SA
SUN SULZER AG
TUB TUBACEX S.A.
HEIJM HEIJMANS N.V. CERT
MBWS
CTAC MARIE BRIZARD WINE & SPIRITS SA
PAL CTAC N.V.
CON PALFINGER AG
LIGHT CONZZETA AG
NVG SIGNIFY NV
WBD NAVIGATOR COMPANY SA
RENE WEBUILD S.P.A.
ROVI REDES ENERGETICAS NACIONAIS SA
COL LABORATORIOS FARMACEUTICOS ROVI S.A.
ALM INMOBILIARIA COLONIAL SOCIMI SA
TEC ALMIRALL SA
HOME TECHNIPFMC PLC
VOS NEINOR HOMES SA
2CRSI VOSSLOH AG
VK 2CRSI SA
WDP VALLOUREC SA
ALHG WAREHOUSES DE PAUW SCA
LOUIS HACHETTE GROUP
- Russell Waller
Proximus (Neutral, TP: €12.5, +52%) Q2 25: Mixed results, guidance lif...
Proximus has reported a mixed set of results and has updated guidance accordingly: domestic guidance has been lifted, but Global guidance has been cut heavily, with the net effect being a small downgrade to Group EBITDA guidance.
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- Konrad Zomer
- ING Helpdesk
Benelux Morning Notes
Belgian Telecoms: Orange Belgium and Proximus MoU on Fiber deployment and increased access to gigabit networks in Wallonia. Cofinimmo: Bottom line outperforming outlook. Elia: Solid start to the year, but with some help from accounting. Heijmans: Another leg up! Proximus: Better Domestic cannot hide Proximus Global double accident, MoU an incremental negative. Signify: 2Q25 Results, better growth, lower margins. WDP: No surprises, 2025 and 2027 targets reiterated. Events Calendar
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Thomas Couvreur
- Wim Lewi
Orange Belgium and Proximus sign a Memorandum of Understanding to expa...
Orange Belgium and Proximus sign a Memorandum of Understanding to expand fiber deployment and increase access to gigabit networks in Wallonia Press releaseEmbargo until 25 July 2025 at 6:50 am Regulated information – Inside information Orange Belgium and Proximus sign a Memorandum of Understanding to expand fiber deployment and increase access to gigabit networks in Wallonia This Memorandum of Understanding formalizes the operators' shared commitment to join forces to expand fiber deployment and improving access to gigabit networks in less densely populated areas of Wallonia. The collabor...
Orange Belgium et Proximus signent un protocole d’accord (MoU) pour ét...
Orange Belgium et Proximus signent un protocole d’accord (MoU) pour étendre le déploiement de la fibre et l’accès aux réseaux gigabit en Wallonie Communiqué de presseEmbargo jusqu'au 25 juillet 2025 à 6h50 Information réglementée – informations confidentielles Orange Belgium et Proximus signent un protocole d’accord (MoU) pour étendre le déploiement de la fibre et l’accès aux réseaux gigabit en Wallonie Ce protocole d’accord concrétise la volonté commune des opérateurs d’unir leurs forces pour étendre le déploiement de la fibre et l’accès aux réseaux gigabit dans les zones wallonnes moins...
Orange Belgium en Proximus ondertekenen een Memorandum of Understandin...
Orange Belgium en Proximus ondertekenen een Memorandum of Understanding (MoU) om de fiberuitrol en de toegang tot gigabitnetwerken in Wallonië uit te breiden PersberichtEmbargo tot 25 juli 2025 om 6.50 u. Gereglementeerde informatie – Voorwetenschap Orange Belgium en Proximus ondertekenen een Memorandum of Understanding (MoU) om de fiberuitrol en de toegang tot gigabitnetwerken in Wallonië uit te breiden Deze MoU weerspiegelt de gedeelde ambitie van beide operatoren om samen te werken aan de uitbreiding van de fiberuitrol en de toegang tot gigabitnetwerken in minder dichtbevolkte gebieden...
- ING Helpdesk
Benelux Morning Notes
Aalberts: Light 1H performance, lowers FY25 outlook. Acomo: Hot chocolate. BAM Group: Solid 1H25 performance. BE Semiconductor Industries: 2Q25 results, light at the end of the tunnel. Econocom: 1H25 REBITA in line, net profit hit by €18m loss on discontinued. Orange Belgium: Better 1H25, guidance increased but MSA hurt perception. RELX: 1H25 results – powering ahead. UCB: 1H25 Preview: focus on US expansion.
- Russell Waller
Orange Belgium (Neutral, TP: €19.2, +11%) H1 25 results: EBITDAaL guid...
OBEL has reported a good set of numbers, with EBITDAaL c+2% ahead of consensus, and 2025 EBITDAaL guidance has been effectively raised (synergies could account for the good EBITDAaL trends, but those have not been split out this period).
Solid commercial performance and EBITDAaL growth, despite a challengin...
Solid commercial performance and EBITDAaL growth, despite a challenging market environment Press releaseEmbargo until 24 July 2025 at 7:00 am Regulated information – Inside information Financial information for the first semester 2025 Solid commercial performance and EBITDAaL growth, despite a challenging market environment Mobile postpaid customer base +3.6% yoy Cable customer base +3.0% yoyH1 Revenues -1.5% change yoyH1 EBITDAaL +4.7% change yoy1 Operational Highlights Positive net adds despite increased competitive pressure and a sl...
Performance commerciale et croissance de l’EBITDAaL soutenues, en dépi...
Performance commerciale et croissance de l’EBITDAaL soutenues, en dépit d'un environnement de marché difficile Communiqué de presseEmbargo jusqu'au 24 juillet 2025 à 7h00 Information réglementée – informations confidentielles Information financière relative au premier semestre 2025 Performance commerciale et croissance de l’EBITDAaL soutenues, en dépit d'un environnement de marché difficile Base clients mobiles postpayés +3,6 % en glissement annuel Base clients câble +3,0 % en glissement annuelChiffre d’affaires en baisse de -1,5 % au S1 e...
Solide commerciële prestaties en groei van de EBITDAaL, ondanks een ui...
Solide commerciële prestaties en groei van de EBITDAaL, ondanks een uitdagend marktklimaat PersberichtEmbargo tot 24 juli 2025 om 7.00 u. Gereglementeerde informatie – Voorwetenschap Financiële informatie voor het eerste halfjaar van 2025 Solide commerciële prestaties en groei van de EBITDAaL, ondanks een uitdagend marktklimaat Aantal mobiele postpaidklanten +3,6% j-o-j Aantal kabelklanten +3,0% j-o-jOmzet H1 -1,5% j-o-jEBITDAaL H1 +4,7% j-o-j1 Operationele hoogtepunten Positieve netto toevoegingen ondanks de hogere concurrentiedruk en...
Orange Belgium announces a new Management Services Agreement with Oran...
Orange Belgium announces a new Management Services Agreement with Orange SA Press releaseBrussels, 24 July 2025 Regulated information – Inside information Orange Belgium announces a new Management Services Agreement with Orange SA Orange Belgium’s previous Strategic Partnership Agreement (“SPA”) with Orange SA expired on December 31, 2024. Under such previous SPA, a fixed management fee of EUR 5 million was charged by Orange SA to Orange Belgium in return for (1) access to the Orange Group sourcing programme, (2) specific know-how available within Orange SA and (3) access to Orange Grou...
Orange Belgium annonce une nouvelle Convention de Services de Gestion ...
Orange Belgium annonce une nouvelle Convention de Services de Gestion avec Orange SA Communiqué de presseBruxelles, le 24 juillet 2025Information réglementée – informations confidentielles Orange Belgium annonce une nouvelle Convention de Services de Gestion avec Orange SA La précédente convention de partenariat stratégique ("CPS") d'Orange Belgium avec Orange SA a expiré le 31 décembre 2024. En vertu de cette convention, Orange SA facturait à Orange Belgium une commission de gestion fixe de 5 millions d'euros en échange (1) de l'accès au programme d'approvisionnement du groupe Orange, ...
Orange Belgium kondigt een nieuwe Management dienstenovereenkomst met ...
Orange Belgium kondigt een nieuwe Management dienstenovereenkomst met Orange SA aan PersberichtBrussel, 24 juli 2025Gereglementeerde informatie – Voorwetenschap Orange Belgium kondigt een nieuwe Management Dienstenovereenkomst met Orange SA aan De vorige Strategische Partnerschapsovereenkomst ("SPA") van Orange Belgium met Orange SA liep af op 31 december 2024. Krachtens deze vorige SPA rekende Orange SA aan Orange Belgium een vaste beheersvergoeding van 5 miljoen EUR aan in ruil voor (1) toegang tot het sourcingprogramma van de Orange-groep, (2) specifieke knowhow beschikbaar binnen Or...
- ING Helpdesk
Benelux Morning Notes
Akzo Nobel: FX drives 2Q25 miss and FY guidance cut. dsm-firmenich: Givaudan 1H25 results. Exor: In talks over Iveco sale. Lotus Bakeries: Peer Lindt & Sprüngli 1H25 results. Proximus: CpaaS peer Sinch 2Q25 results hurt by FX. Signify: 2Q25 Preview, challenges ahead. Var Energi: Promising continuation of dividend. Vopak: Continued story. Wereldhave: Strong operational results, positive market tone, guidance raised. Events Calendar
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.