Proximus: Still Getting Cheaper
Source: SeekingAlpha
2025-01-15 16:39:49 ET
Summary
- Proximus PLC faces a significant CAPEX burden from its fiber rollout, expected to continue until 2032, impacting free cash flow and net debt position.
- The entry of Digi into the Belgian markets introduces competition, potentially affecting Proximus' wireless market share and challenging its ability to sustain price increases.
- The Telesign-Route Mobile merger valued at 2.6 billion EUR offers growth potential and synergies, making Proximus' EV/EBITDA relatively cheap at 4.2x after adjustments.
- Despite an attractive valuation, a prolonged CAPEX burden and upcoming competition from Digi warrant a cautious approach. Wait and see.
Proximus PLC ( BGAOF ) is going to start seeing the effects of the Digi entry into the Belgian markets, as we mentioned in our previous coverage. In addition, the rollout, of course, remains in its relatively early stages. It won't be done until 2032 or so....
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Proximus: Still Getting Cheaper
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