A correct Q2 with in particular a very good resilience in the EBITDA, which was down by only 1.5% yoy despite a logical 5.9% decline in revenues due to the COVID-19 pandemic. Proximus reiterates once again its 2020 full-year guidance of EBITDA minus capex of €780-800m. Therefore the new dividend of €1.20 over 2020-22 proposed in early 2020 has to be considered as… a floor perfectly sustainable over the period. We maintain our Buy opinion on the stock.
31 Jul 2020
The €1.2 dividend must be considered as a perfectly sustainable floor
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The €1.2 dividend must be considered as a perfectly sustainable floor
Proximus SA (PROX:WBO) | 0 0 1.5% | Mkt Cap: 8,762m
- Published:
31 Jul 2020 -
Author:
Jean-Michel Salvador -
Pages:
3
A correct Q2 with in particular a very good resilience in the EBITDA, which was down by only 1.5% yoy despite a logical 5.9% decline in revenues due to the COVID-19 pandemic. Proximus reiterates once again its 2020 full-year guidance of EBITDA minus capex of €780-800m. Therefore the new dividend of €1.20 over 2020-22 proposed in early 2020 has to be considered as… a floor perfectly sustainable over the period. We maintain our Buy opinion on the stock.