24/04/14 07:00

Financial news

Mobistar is delivering on its transformation program

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Brussels, 24 April 2014 – Today, Mobistar (Euronext Brussels: MOBB) publishes its results for the first quarter of 2014.

  • Substantial improvements in network quality have led to a recognized leadership position on top of a 4G network outperforming competition in speed.
  • Mobistar has taken significant steps in the transformation of its distribution channels.
  • Mobistar has delivered 17.9 million euros out of its 50 million euros net operational expense savings program for 2014.
  • Mobistar stays confident to deliver a first internet & TV offer based on the regulated cable networks by the fourth quarter of 2014.
  • This on-going transformation process will allow Mobistar to remain and even enforce its position on the forefront of the telecom market.
  • The results of the first quarter of 2014 enable Mobistar to keep its outlook unchanged for the full year 2014:
    • Mobistar reached a total turnover of 317.0 million euros.
    • Mobistar reached a restated EBITDA of 66.1 million euros.
    • Mobistar reached an operational cash flow of 27.1 million euros.

‘The proper execution of its transformation program secures better prospects for Mobistar. During the first quarter, Mobistar has regained its leadership position in terms of network quality. Mobistar is now engaged in the completion of the transformation of its distribution network, in order to better leverage this key advantage. As regards to its IT and organisational structure, Mobistar pursues its cost streaming effort further.’ commented Jean-Marc Harion (CEO).

Ludovic Pech (CFO) added: ‘The first quarter of 2014 confirmed that the last quarter of 2013 was a trough in terms of service revenue evolution. The improving trend noticed during the first quarter should continue into the coming quarters as the backbook has been largely repriced. The market repricing should also start losing its intensity. The uptake of mobile data progresses well and should be boosted further with the commercial launch of 4G’.

Complete Press Release (.pdf)