Guillaume Boutin, CEO
Stefaan De Clerck, Chairman

Discover our 2020 highlights

Key financial hightlights

Group Ebitda (Underlying, M€)

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The Proximus Group posted an underlying EBITDA of EUR 1,836 million for 2020, down by -1.8% from the prior year.The Domestic operations of Proximus posted EUR 1,705 million EBITDA, a year-on-year decline of -0.7% or EUR -12 million. The companies’ strong cost control was more than offset by the pressure on Direct Margin.  The Domestic EBITDA margin improved to 39.8%, up from 39.2% for 2019. BICS closed 2020 with its EBITDA totaling EUR 131 million, 14.5 % below that of the prior year fully driven by a decrease in direct margin, a consequence of the gradual insourcing of services by MTN and its Covid-19 exposure.  BICS’ segment margin as percent of revenue for 2020 was 11.0%, compared to 11.7% the previous year.

Group Operationals

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+48,000 Fixed Internet net adds year-on-year or +2.3% year-on-year. +36,000 Fixed TV net adds year-on-year or +2.2% year-on-year. +174,000 Postpaid net adds year-on-year or +4.2% year-on-year. +56,000 Convergent customers net adds year-on-year or +2.5 p.p. year-on-year.

Free Cash Flow (M€)

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Proximus posted FCF of EUR 352 million over 2020, or EUR 354 million excluding net cash-out for acquisitions.  This is EUR 151 million below the comparable amount for 2019, with the FCF of 2020 including EUR 154 million more cash-out related to workforce transformation plans, mainly due to the 2020 Fit for Purpose transformation plan. The lower income tax payments for the full-year 2020 and a favorable year-on-year evolution in Business working capital were offset by the lower underlying EBITDA and other FCF movements, including lower property sales.