Proximus supplies integrated telecommunications services on the Belgian market. Co.'s activities are divided into four segments: Consumer Business Unit (CBU), which sells voice products and services, internet and television, on fixed and mobile networks, to residential customers; Enterprise Business Unit (EBU), which caters to professional customers; Service Delivery Engine and Wholesale, which centralizes all the network and IT services and costs, provides services to CBU and EBU and sells these services to other telecom and cable operators; and International Carrier Services, which focuses on international carrier activities.
  • TickerBELG
  • ISINBE0003810273
  • ExchangeEuronext Brussels
  • SectorFixed Line Telecommunications
  • CountryBelgium

Analysts

Denise Molina

Morningstar | Updated Proximus SA

Proximus faces tough competition as cable providers aggressively encroach on its fixed-line business. Increased wireless competition is also occurring. The firm recognizes its limitations and avoids buying growth in areas where it has no competitive advantage. Instead, it returns most of its free cash flow to shareholders in the form of dividends and stock buybacks.However, in late 2016, Proximus announced it would maintain its increased capital expenditure budget at around EUR 1 billion annually for at least the next three years as it rolls out fiber more quickly to better compete. We believe...

Denise Molina

Updated Proximus SA

Proximus reported mixed first-quarter results with weak revenue but improved EBITDA margins. We expect these items to mostly offset each other and thus don’t expect any significant changes to our EUR 26 per share fair value estimate or narrow moat rating. We believe the shares are fairly valued. The company reported revenue fell 1.8% year over year versus our full-year projection of slight revenue growth. However, about half of the revenue decline was from much lower revenue from handsets, which...

ING
Research Department

Benelux Morning Notes

ABN AMRO: Good message on capital, results deserve a closer look. Ageas: SII a touch light, Asia offset the somewhat weak results in Belgium. Fugro: Seabed, return of profitability on the horizon? Proximus: Cuts business mobile plans' pricing. Staffing sector: Dutch period 4 figs: vol -6%, rev -3% (was -5%, rev -2%); trend softens

Allan C. Nichols

Morningstar | Proximus Reported Mixed First-Quarter Results; Shares Fairly Valued

Proximus reported mixed first-quarter results with weak revenue but improved EBITDA margins. We expect these items to mostly offset each other and thus don’t expect any significant changes to our EUR 26 per share fair value estimate or narrow moat rating. We believe the shares are fairly valued. The company reported revenue fell 1.8% year over year versus our full-year projection of slight revenue growth. However, about half of the revenue decline was from much lower revenue from handsets, which carry very low margins. Thus, the reduced revenue helped the firm’s EBITDA margin. Consumer revenu...

Allan C. Nichols

Proximus Reported Mixed First-Quarter Results; Shares Fairly Valued

Proximus reported mixed first-quarter results with weak revenue but improved EBITDA margins. We expect these items to mostly offset each other and thus don’t expect any significant changes to our EUR 26 per share fair value estimate or narrow moat rating. We believe the shares are fairly valued. The company reported revenue fell 1.8% year over year versus our full-year projection of slight revenue growth. However, about half of the revenue decline was from much lower revenue from handsets, which...

Proximus SA de droit public - December 2016 (LTM): Peer Snapshot

Peer Snapshot: Proximus SA de droit public - December 2016 (LTM) 19 April 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Sep-16 FYE Dec-14 FYE Dec-15 LTM Dec-16

Denise Molina

Morningstar | Updated Proximus SA

Proximus faces tough competition as cable providers aggressively encroach on its fixed-line business. Increased wireless competition is also occurring. The firm recognizes its limitations and avoids buying growth in areas where it has no competitive advantage. Instead, it returns most of its free cash flow to shareholders in the form of dividends and stock buybacks.However, in late 2016, Proximus announced it would maintain its increased capital expenditure budget at around EUR 1 billion annually for at least the next three years as it rolls out fiber more quickly to better compete. We believe...

Denise Molina

Updated Proximus SA

Proximus reported mixed first-quarter results with weak revenue but improved EBITDA margins. We expect these items to mostly offset each other and thus don’t expect any significant changes to our EUR 26 per share fair value estimate or narrow moat rating. We believe the shares are fairly valued. The company reported revenue fell 1.8% year over year versus our full-year projection of slight revenue growth. However, about half of the revenue decline was from much lower revenue from handsets, which...

ING
Research Department

Benelux Morning Notes

ABN AMRO: Good message on capital, results deserve a closer look. Ageas: SII a touch light, Asia offset the somewhat weak results in Belgium. Fugro: Seabed, return of profitability on the horizon? Proximus: Cuts business mobile plans' pricing. Staffing sector: Dutch period 4 figs: vol -6%, rev -3% (was -5%, rev -2%); trend softens

Allan C. Nichols

Morningstar | Proximus Reported Mixed First-Quarter Results; Shares Fairly Valued

Proximus reported mixed first-quarter results with weak revenue but improved EBITDA margins. We expect these items to mostly offset each other and thus don’t expect any significant changes to our EUR 26 per share fair value estimate or narrow moat rating. We believe the shares are fairly valued. The company reported revenue fell 1.8% year over year versus our full-year projection of slight revenue growth. However, about half of the revenue decline was from much lower revenue from handsets, which carry very low margins. Thus, the reduced revenue helped the firm’s EBITDA margin. Consumer revenu...

Allan C. Nichols

Proximus Reported Mixed First-Quarter Results; Shares Fairly Valued

Proximus reported mixed first-quarter results with weak revenue but improved EBITDA margins. We expect these items to mostly offset each other and thus don’t expect any significant changes to our EUR 26 per share fair value estimate or narrow moat rating. We believe the shares are fairly valued. The company reported revenue fell 1.8% year over year versus our full-year projection of slight revenue growth. However, about half of the revenue decline was from much lower revenue from handsets, which...

A director sold 3,000 shares at 29.270EUR and

A director at Proximus sold 3,000 shares at 29.270EUR and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board ...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/03/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/05/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Léopold Authié
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Olivier Lebrun
  • Pierre Tegner
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/26/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Léopold Authié
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Olivier Lebrun
  • Pierre Tegner
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/10/2018

...

PROXIMUS SA with less fundamental stars is reduced to Neutral

PROXIMUS SA (BE), a company active in the Integrated Telecommunications industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date April 26, 2019, the closing price was EUR 25.04 and its expected value was estimated at ...

Ng Adrian

Proximus

Ng Adrian

Proximus

Ng Adrian

Proximus

Ng Adrian

Proximus

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/HSBC, Société Générale and Proximus

HSBC (HSBC) reported strong numbers for the start of the year with substantial earnings growth and solid capital generation. Credit positive. HSBC continues to have a strong capital position. The bank had a CET1 ratio of 14.3% in 1Q19, up 30bp QoQ. The capital ratio improvement was supported by the strong organic capital generation, FX and other movements that offset the regulatory effects. (For full story, download report)

ING
Hendrik Wiersma ...
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Benelux Credit Digest/Issuer Profiles

Once again, it is with great pleasure that we present the eleventh edition of our Benelux Credit Digest, our annual overview of the key fundamentals and credit metric developments of the most important corporate and financial credits in Belgium, the Netherlands and Luxembourg.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Marcel Klok
  • Nadège Tillier
  • Philippe Ledent

BNLX + /European and BeNeLux credit value mapping

Strategy and Supply . Retracement of 2018 sell-off almost complete . Supply surprisingly robust on the back of US issuers . BeNeLux supply dominated by ABIBB $ trade . We like the 2022-25 part of the curve, selective BBB exposure advised . TLTRO announcement increases the long odds of CSPP2

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Proximus and Royal Dutch Shell

Proximus (PROXBB) released satisfactory 4Q18 results this morning. Underlying sales declined 0.5% to €1,469m, with the Domestic operations reporting a 0.8% decrease and BICS a 0.5% improvement. Underlying EBITDA at group level was up 0.9% to €449m, resulting in a 2.4% rise to €1,866m in the full year.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/AB InBev, Proximus and Orsted

AB InBev (ABIBB) was again in the limelight last Friday after its tender offer announcement and 6-tranche debt issue of the prior day. After the debt deal garnered much demand and AB InBev upsized the deal size to US$15.5bn from the initially targeted US$10bn, on Friday the company also upsized the tender offer to a grand total of US$16.5bn (initially US$11bn), indicating a US$1bn reduction in gross debt. With this exercise, AB InBev has kicked the can down the road as it moved a substantial part of its upcoming redemptions further out the curve.

Expert Corporate Governance Service (ECGS)

Proximus April 17th, 2019

In general, Proximus is in compliance with the Belgian regulations relating to the organisation and procedures of the Annual General Meeting.After the AGM, the board of Directors will compromise 9-non executive directors, and seven members are concidered to be independant (77.8%) according to ECGS. Mrs Leroy, the CEO also sits on the board. ECGS notes that the level of disclosure concerning the Company's executive remuneration (specifically relating to the level of transparency) is weak and could be improved. It favors the strong deferral elevement attached to the ST variable salary of the CEO...

Proximus – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 19/04/2017

In general, Proximus is in compliance with the Belgian regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 6, the Board of Directors seeks approval for the Company's remuneration report. In light of insufficient disclosure and our other concerns with regard to the executive compensation package, we recommend opposition.There are no further peculiarities.

Jérôme VINERIER

Analyse court terme - PROXIMUS : La tendance est haussière.

La tendance est haussière. Les cours progressent encore, mais la tendance s'affaiblit. La prochaine résistance est à 23,21 €. La rupture de 19,10 € mettrait la tendance en danger.

Jérôme VINERIER

Short term view - PROXIMUS : The trend is bullish.

The trend is bullish. Prices are still making progress but the trend is slowing down. The next resistance is at €23.21. The break of €19.10 would endanger the trend.

Jérôme VINERIER

Analyse court terme - PROXIMUS : La tendance est haussière.

La tendance est haussière. Les cours progressent encore, mais la tendance s'affaiblit. La prochaine résistance est à 23,21 €. La rupture de 19,10 € mettrait la tendance en danger.

Jérôme VINERIER

Short term view - PROXIMUS : The trend is bullish.

The trend is bullish. Prices are still making progress but the trend is slowing down. The next resistance is at €23.21. The break of €19.10 would endanger the trend.

Jérôme VINERIER

Analyse moyen terme - PROXIMUS : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le rebond gagne en vigueur. Il est trop tôt pour parler de retournement haussier. La tendance de fond serait remise en cause en cas de franchissement de 25,68 €.

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