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2016-02-04

Mobistar : Fourth quarter and full year 2015 results

Sharp acceleration of postpaid customer growth in Q4 2015 laying a solid
foundation for 2016

Upgraded full year 2015 restated EBITDA guidance achieved with €283m
Convergent offers will be launched in the first quarter of 2016
Mobistar to be rebranded into Orange

Brussels, 4 February 2016 - Today, Mobistar (Euronext Brussels: MOBB)
publishes its results for the fourth quarter and full year 2015. They are
characterized by an accelerating commercial momentum towards the end of 2015.
By reinvesting the benefits of its ongoing transformation efforts, Mobistar
achieved record mobile postpaid net adds while meeting its upgraded full year
2015 restated EBITDA guidance. Mobistar is now ready for the launch of its
convergent offers. To support its strategic ambitions, Mobistar will adopt
the Orange brand in Belgium.

* Mobistar's retail customer base increased sequentially with 54.0 thousand
customers net adds in Belgium in the fourth quarter of 2015. Postpaid net
adds growth accelerated to 27.6 thousand new customers in the fourth
quarter of 2015, the highest result in four years marking a clear
acceleration compared to previous quarters. In parallel, Mobistar continued
improving its customer loyalty, creating a solid basis to commence 2016.
* At the end of 2015, Mobistar's Belgium 4G outdoor&indoor network coverage
stood at 99 % and 88 % respectively. The number of smartphone users jumped
11 % year-on-year to reach a penetration of 61 %. More meaningful was the
99 % increase year-on-year in the number of 4G smartphone users, reaching
close to 1 million. Total 4G traffic increased fivefold in 2015 and in
December 2015 represented 62 % of total traffic. Mobistar still has a
sizable opportunity with about 0.9 and 1.2 million 3G smartphones and
feature phones remaining in its customer base. While still in trial mode,
Mobistar's 4G+ coverage is rapidly increasing and now amounts to 21 % of
the population, allowing for a commercial launch in the coming months.
* The postpaid ARPU in the fourth quarter of 2015 increased to 28.5 euros
from 27.5 euros in the fourth quarter of 2014, an increase of 3.6 %
year-on-year. In the fourth quarter of 2015 Mobistar performed particularly
well on the acquisition of customers in the mid- to high-end segment which
should support the average data usage and ARPU evolution in the coming
quarters. Overall, Mobistar delivered sound financial results in 2015 with
a total service revenues of 1,085.9 million euros, -2.3 % yoy (-1.2 % yoy
excl. regulation).
* Mobistar's 2015 restated EBITDA excluding cable expenses of 6.8 million
euros amounted to 282.8 million euros, thereby delivering upon the upwards
revised guidance of October 2015 while adopting a prudent approach on the
pylon tax with an additional provision of 10 million euros in the fourth
quarter of 2015 for the periods 2014 and 2015. This extra provision was
triggered by a rectification notice received at the end of December 2015
from the Walloon administration which remains firmly contested by Mobistar.
Excluding this non-cash item, Mobistar would have realized a 2015 restated
EBITDA excluding cable expenses of 292.8 million euros, while increasing
investments in the acquisition and retention of postpaid customers.
* Mobistar will launch its convergent offers in the first quarter of 2016 and
will unveil all the details in February.
* With a positive outlook on mobile service revenues, Mobistar expects its
restated EBITDA excluding cable to range between 270 and 290 million euros
in 2016. This guidance range takes into account the exceptional spending to
successfully execute the rebranding into Orange.
* Mobistar's Board of Directors voted unanimously in favour of adopting the
Orange brand in Belgium before the end of 2016. This change will help the
company to effectively boost its transformation and support its strategic
development through new services for business and residential customers. By
forging closer ties with the Orange Group, Mobistar will gain more direct
access to the Group's innovations and technical expertise, and will benefit
from the globally-recognized force of the Orange brand name.
* While having reduced its net financial debt/EBITDA-ratio to 1.3x at the end
of 2015, Mobistar will in 2016 prioritize the use of its cash for investing
in convergence and future growth initiatives. Accordingly the Board of
Directors will propose the General Assembly of May 4, 2016 not to pay a
dividend for the financial year 2015.

Mobistar's Chief Executive Officer Jean Marc Harion commented: "I'm proud of
Mobistar's team members' commitment who have successfully
delivered on the 3 year transformation plan that we initiated in 2013 and
that is now coming to an end. We've built strong assets that make us
confident and optimistic about the future: we've the best 4G network, a loyal
and growing contract customer base, but also a much more agile and lean
company. This year will be a pivotal year for our company as we celebrate
Mobistar's 20th anniversary as mobile operator in Belgium and as we'll become
a convergent player under the Orange brand. The adoption of the Orange brand
is a unique opportunity to strengthen our presence in our markets and to
support our entrance into the world of convergence with the upcoming launch
of our cable Internet and TV offer for residential customers and the recent
launch of the new Pulse offers for companies. On the business market, the
rebranding will help to reconfirm our leadership in international services in
the domain of Machine-to-Machine and the Internet of Things
".

Mobistar Investor Relations

For the full PDF version, please click here below:

Q4/FY 2015 results - FR
http://hugin.info/134974/R/1983540/726950.pdf
Q4/FY 2015 results - NL
http://hugin.info/134974/R/1983540/726951.pdf
Q4/FY 2015 results - UK
http://hugin.info/134974/R/1983540/726949.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mobistar via Globenewswire

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