Proximus PLC

Hello and welcome to the Proximus Q3 2026 results. My name is Gaia 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 6. I will now hand you over to your host, Nancy Goossens, Investor Relations Lead, to begin today's conference. Thank you.

Thank you, Gaia. Good afternoon and welcome to our Q3 results webcast. We trust you have reviewed the results this morning, so we will keep the presentation to the point, allowing more time for your questions. Joining me for the presentation and the Q&A are our CEO Stijn Bijnens, and Fiona Lam, the new CFO since September. Welcome Fiona to your first Proximus results call. Also with us are Sashkin Arikan, the global CEO, and Jim Casteele, our head of B2C and AI. So over to Stijn now for today's highlights.

Thank you. Welcome from me as well to our third quarter results. I trust you have seen the result publications, so as Nancy said, we'll keep it short. This slide provides the usual brief overview, but as we will cover this in a minute, let me move straight to the next one. I'll start with a high-level overview and we'll leave it to Fiona to cover the financials in more detail. In the domestic segment, we delivered another resilient quarter with slight increase in services revenue. This was offset by higher OPEX, which was in part due to the consolidation of Unifibre and resulted in a lower domestic EBITDA. Turning to the global segment, I'm pleased with the disciplined execution of its strategic plan, which delivered direct margin growth ahead of expectations. Overall, for the Proximus Group, the third quarter EBITDA decreased 2%. I will leave it here and move to the operational results. We delivered another good commercial quarter for the B2C unit, and this in a highly promotional market. This led for the total domestic segment, including B2B, to a growth of 18,000 mobile postpaid cards and 5,000 internet subscribers. Our convergent customer base also continued to grow steadily, adding 7,000 residential customers in the third quarter. Meanwhile, the fixed voice and TV customer base continued their gradual erosion. Turning to fibre, our footprint continues to expand. By the end of September we had passed more than 2.8 million homes across Belgium. That represents population coverage of over 44%. In the third quarter we added another 38,000 active fibre customers. This brings our total to nearly 860,000 and the network filling rate stands at 35%. Before I hand over to Sechkin for Global, let me say a few words about satellite connectivity and AI agents. Both have raised concerns across the telecom sector and put pressure on Proximus share price in particular. Let's start with satellite. It's a great technology but helps solve problems that we don't face here in Belgium. Belgium is one of Europe's most densely populated countries. Even our rural areas are very different from the wide open spaces you find for example in the US, Africa or the Nordics. And we have very good networks here. Our 5G network already covers almost the whole country. We will reach 99% indoor coverage by the end of 2027. We also have A great and broad range of spectrum secured for the next 15 years. Our fixed network has clear advantages over satellite too. With our fibre agreements, we're on track to cover 80% of Belgium with fibre, offering both fast upload and download speed. Satellite has physical limits on capacity, so it will always be limited in the number of households it can serve. We see satellite less as a threat and more as an opportunity, something we could offer as an add-on to our services. Turning to AI agents, I see this as an evolution and not a revolution. It's another step in how customers make their choices. Here, too, we see opportunities. AI can help us build on what makes our services different, our strong brands and our customer rewards. We're also investigating generative engine optimization, helping customers find us when they use AI to search. Telecom will keep changing and we will keep adapting. As more people use AI, good connectivity matters even more. AI needs networks that can handle large amounts of data, support more uploads, and stay connected all the time. as Belgium's largest fiber owner were well placed to meet those needs. And with that, I'll hand over to Sechkin to talk about global.