Mobistar achieves its objectives for the full financial year 2011

Brussels, 8 February 2012 – Today, Mobistar publishes its results for the full financial year 2011. Despite a very competitive market context and the impact of regulations, the Mobistar group was able to reach its targets. These results allow Mobistar to propose an ordinary dividend and an extraordinary dividend for a total amount of 222.1 million euros, or 3.70 euros per share.

Key facts:

• At the end of December 2011, the Mobistar group had 4,204,656 active mobile telephony customers, an increase of 4.1 %, compared to 4,039,372 active customers one year earlier.  
• At the end of the financial year 2011, Mobistar S.A. had 79,497 ADSL customers, compared to 54,861 a year before, an increase of 44.9 %.
• At the end of 2011, Mobistar S.A. had 34,194 installed and activated ´Starpack´ customers, the combined offer with ADSL, digital television, fixed and mobile telephony, compared to 9,561 customers at the end of 2010  (+ 257.6 %).
• The number of active ´machine-to-machine´ cards of Mobistar S.A. including the IMC (International M2M Competence Center), amounted to 416,971 at the end of 2011, compared to 193,245 active ´machine-to-machine´ cards one year earlier, an increase of 115.8 %.
• At the end of the financial year 2011, the Mobistar group achieved a total consolidated turnover, including the consolidation of MES S.A. (Mobistar Enterprise Services) for 12 months, of 1,657.6 million euros, 0.4 % less than the 1,664.6 million euros at the end of December 2010 (-1.1 % excl. MES S.A.). This result corresponds to the Mobistar group´s forecasts with regard to the turnover (a level of turnover similar to that of 2010). Without the impact of the regulations (74 million euros), the total consolidated turnover would amount to 1,731.6 million euros. The use of mobile data rose by the end of 2011 to 37.1 % of the service revenues, compared to 32.3 % the year before.
• The Mobistar group ended 2011 with an EBITDA margin on service revenues of 35.2 % (36 % excl. MES S.A.), compared to 36 % at the end of 2010. The EBITDA of the Mobistar group amounted to 530.1 million euros at the end of December 2011, in line with the forecasts (EBITDA within the range of 520 to 535 million euros). Without the regulatory impact of 38 million euros, the EBITDA would amount to 568.1 million euros.
• The consolidated net result of the Mobistar group amounted to 221 million euros at the end of the financial year 2011, or 16.2 % (-16.6 % excl. MES S.A.) lower than the year before, as forecasted (a net result within the range of 220 to 230 million euros).
• In 2011 the Mobistar group invested 12.2 % of the service revenues or a total amount of 183.7 million euros, excluding the acquisition of the LTE license, compared to 165.5 million euros invested in 2010. This investment level is in line with the forecasts for the financial year 2011 of 11 to 12 % of the service revenues. On top of these investments, Mobistar invested 20.02 million euros in 2011 for the acquisition of the LTE license.
• The organic cash-flow, excluding license costs, exceeds the forecasts for the financial year 2011 (organic cash-flow within the range of 220 to 230 million euros) and amounted to 259 million euros at the end of 2011, compared to 347.5 million euros one year earlier, a reduction of 25.5 %.
• The Mobistar group Board of Directors will propose the distribution of an ordinary dividend of 2.90 euros per share and an extraordinary dividend of 0,80 euro per share and will submit it for approval to the General Meeting of Shareholders of 2 May 2012.

Full press release (PDF)