In the second half of this year, telecom operator Proximus is going to increase its prices again after raising them from 4% to 6% at the beginning of this year. Two weeks ago, Telenet made a similar announcement.
The reason for the price increase is inflation "whose impact on home markets is significant," Proximus said in a press release. In the first three months of 2023, the company posted more revenue, but profits are under pressure.
"In a context where the impact of inflation in our home markets for 2023 is significant, we continue to pursue further value optimisation, including further price adjustments to be implemented in the second half of the year, for selected retail and corporate rate plans," the company said.
On Friday, Proximus announced its financial results for the first quarter of this year: underlying group revenue from January to March came to €1.49 billion – 5.9% more than in the same period last year and also more than analysts had expected. Sales in home markets grew by 4.8%
Related News
- After Proximus, Orange will now also raise prices from January
- Is Belgium's fastest internet connection actually worth it for consumers?
- Belgian telecom share prices lag behind Europe
But due to cost increases, Proximus Group's profits have fallen: gross profits came in at €432 million (-3.5%). Net profit came to €94 million, more than a fifth less than last year.
Proximus Group's CEO Guillaume Boutin said he was satisfied with the results and is hopeful that the company will achieve its targets this year. He also announced a new price adjustment in the second half of 2023, but did not specify what this would entail.
Last Thursday, competitor Telenet also announced its quarterly results, with lower profits than in the same period last year. Earlier this month, Telenet announced that subscription tariffs would rise by 6% from June.
