Proximus PLC

Hello and welcome to the Proximus Q1 Results 2026. My name is Laura and I will be your coordinator for today's event. Please note this conference is being recorded and for the duration of the call, your lines will be on listen only. However, you will have the opportunity to ask questions at the end of the presentation. This can be done by pressing pound key 5 on your telephone keypad to register your question at any time. If you wish to withdraw your question, please press pound key six on your telephone keypad. I will now hand you over to your host, Nancy Goossens, Investor Relations Lead, to begin today's conference. Thank you.

Thank you, Laura, and so welcome from my side as well to the Proximus Q1 results webcast. We will start with a brief presentation followed by a Q&A session. Joining me today are the CEO, Stephen Dynans, the interim CFO, Nicolas Gartner, the global CEO, Sashkin Arikam, and Jim Castille, the head of B2C and AI. So let's begin today with today's highlights and over to Stephen.

Also welcome from my side to our presentation of the 2026 first quarter results. As we have seen in our published report this morning, Proximus has a good start of the year, and I will take you through the main points, starting with our key financials. I will keep it short as Nicolas will take you through in a bit more detail later on. So starting from the left on the slide for the domestic segment, we closed the first quarter with stable services revenues despite the intense competition and lower revenue from sports content. As a result of lower OPEX, the domestic EBITDA grew by 1.9% for the first quarter. For the global segment, we managed to stabilize current margin for the first quarter in a row, while year-on-year comparison remained still tough for the first quarter. Overall, this resulted in an EBITDA for global of $33 million. pretty much in line with what we anticipated. The lower global EBITDA leads to lower group EBITDA down for the first quarter by 1.9%. Of CAPEX for the first quarter was 261 million euro and for free cash flow we ended the first quarter with 32 million euro in total. Excluding the proceeds from asset sales, the organic free cash flow was 90 million euro a strong improvement year-on-year. Let's have a look now at the operational results. Despite the intense competition, the operational performance remained worst, with mobile post-tape adding 17,000 casts and our internet subscriber base growing by 10,000 line. Our conversion customer base continued its steady growth by adding 42,000 14,000 residential customers in the first three months. With our new amplified strategy now in full execution, we are listing here some concrete and recent examples. In the B2B space, we managed for Proximus Next to be selected alongside other suppliers as sovereign cloud providers for the European institutions. In addition, we signed partnerships to support SMEs making artificial intelligence accessible and immediately applicable for entrepreneurs. As for our network, we proudly launched 5G Standalone as first one on a commercial scale in Belgium. And we, of course, also continued our fiber rollout and I'll discuss this on the next slide. Regarding the intended network collaboration, In Flanders, as you have seen in our recent press announcement, we signed now the full cooperation agreement with WIRE and Telenet. I'm convinced we now have a fair and balanced distribution of the value it will create for the operators, the citizens, and society at large. The implementation of these agreements remains subject to final regulatory approval. Commercially, we launched our new mobile kits offering, reinforcing our role as a digital partner for families. In addition, we increased the data volume to close our mobile subscriptions to address customers' needs and to stay competitive in the market. As a final point, I'm happy that after intense negotiations, we can announce an agreement with DAZN regarding the distribution of Belgian and international football. So turning to the fiber deployment, because Belgium, we had end of March a total of nearly 2.7 million fiber homes, meaning population coverage of just over 42%. The fiber network filling rate progressed well to 34%, up from 32% one year back. In terms of active Fiverr customers, we grew the base with another 45,000 over the first three months. As such, we are reaching 776,000 active Fiverr customers in total. So this covers my introduction on the domestic part. Before we go into the financial, I'll hand over to Sechkin, our CEO Global, to comment on Dr. Global.