Solid 1Q26 Performance In-Line With FY Outlook

Proximus delivered a solid 1Q26 performance with EBITDA slightly beating consensus and management reiterating its full-year 2026 outlook.

Key Takeaways

• 1.Proximus reported 1Q26 results that were solid and slightly ahead of consensus on EBITDA despite a minor miss on domestic revenue due to hardware sales.
• 2.The company reiterated its full-year 2026 guidance, including stable domestic service revenue and EBITDA.
• 3.Commercial performance was resilient with 19k postpaid and 11k broadband net adds, which were well ahead of the previous year's figures.

Table of Contents

• 1Q26 in detail
• Valuation and risks
• Disclosure Appendix
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures

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