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Belgacom Q1 disappoints

May 19, 2008

Belgium’s dominant telecom operator Belgacom has reported a worse than expected 3 per cent drop in first-quarter sales, but reiterated its financial targets for the whole of 2008.

Belgacom’s first-quarter sales fell to E1.469 billion from E1.515 billion euros a year earlier. Belgacom said that price cuts imposed by European and local regulators were the cause of the decline. EBITDA came in at E518 million, down 3.3 per cent from E536 million last year.

In more positive news for Belgacom, the telco announced that its IPTV subscribers increased by 43,931 during the first quarter to 349,250

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