BGAOY Proximus Group (PK)

Belgacom SA (BELG.BT): 2Q Earnings

Due: Aug 1 at 0500 GMT

Company Survey of 22 Analysts

Average Net Profit: EUR156M (EUR149M in 1Q 2014)

Average Revenue: EUR1.486B (EUR1.480B in 1Q 2014)

Note: Belgacom will be affected by the divestment of Telindus France unit and the marked decline of BICS, its back-end carrier service and networks division. The company has previously guided for its main business, excluding International Carrier Services, full-year sales falling 1%-2% from 2013, and EBITDA declining 3% to 4% compared with the 2013 EBITDA of EUR1.713 billion. Ruben Devos at KBC said he'd be looking for a clear strategy on over-the-top services such as Skype.

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