BGAOY Proximus Group (PK)

Matthias Verbergt

BRUSSELS--Belgian telecommunications provider Proximus Group (PROX.BT) said on Friday that net profit and revenue dropped in 2015 from a year ago, despite its growing market share.

Proximus, formerly known as Belgacom SA, reported a net profit of 482 million euros ($531.70 million) for 2015, down from EUR654 in 2014. Full-year revenue for 2015 was EUR1.502 billion, down 0.3% from a year earlier.

The decrease in net profit was mainly due to litigation costs, higher depreciation and higher finance costs following a partial bond buyback, said Proximus, in which the Belgian state has a majority share.

The Brussels-based telecoms company said its underlying core revenue in 2015 rose 0.5% to EUR1.117 billion, as Proximus increased its market share in fixed and mobile services. The year-on-year revenue decline is mainly due falling revenue at its BICS division, which provides international carrier services, the company said.

Chief Executive Dominique Leroy said Proximus "expects to end the year 2016 with slightly growing core underlying revenue and group Ebitda [earnings before interest, taxes, depreciation and amortization], in spite of BICS' high comparable base."

Proximus proposed a dividend of EUR1.50 a share for 2015.

-Write to Matthias Verbergt at matthias.verbergt@wsj.com

(END) Dow Jones Newswires

February 26, 2016 02:01 ET (07:01 GMT)

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