KPN: third-quarter profit meets expectations; shares rise
(CercleFinance.com) - Dutch telecoms group Royal KPN's third-quarter profit dropped 1.
2%, in line with expectations, the company said on Tuesday.
The former Dutch telecom monopoly said that its EBITDA fell to 585 million euros over the past quarter - from 592 million euros the previous year - meeting the consensus of 586 million (22 analysts).
Free cash flow dropped to 235 million euros, from 264 million euros a year ago.
Analysts at UBS cited a "decent" third quarter, although reminded that investors will mainly focus on the Capital Markets Day of 28 November.
Regarding its outlook, KPN said it expected 2018 adjusted EBITDA to be "in line with 2017," with free cash flow rising to approximately 800 million euros.
Shares in the Dutch telecoms group were up 3.4% at 2.4 euros after these results were published, slightly outpacing a 1.3% rise in the STOXX Europe 600 Optimised Telecommunications index.
However, the shares have lost about 18% since the start of the year, underperforming a 10% drop in the sector.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2%, in line with expectations, the company said on Tuesday.
The former Dutch telecom monopoly said that its EBITDA fell to 585 million euros over the past quarter - from 592 million euros the previous year - meeting the consensus of 586 million (22 analysts).
Free cash flow dropped to 235 million euros, from 264 million euros a year ago.
Analysts at UBS cited a "decent" third quarter, although reminded that investors will mainly focus on the Capital Markets Day of 28 November.
Regarding its outlook, KPN said it expected 2018 adjusted EBITDA to be "in line with 2017," with free cash flow rising to approximately 800 million euros.
Shares in the Dutch telecoms group were up 3.4% at 2.4 euros after these results were published, slightly outpacing a 1.3% rise in the STOXX Europe 600 Optimised Telecommunications index.
However, the shares have lost about 18% since the start of the year, underperforming a 10% drop in the sector.
Copyright (c) 2018 CercleFinance.com. All rights reserved.