KPN: solid start to the year despite inflation

(CercleFinance.com) - KPN said on Wednesday that it had made a solid start to the year, despite current inflationary pressures pushing up its wage bill.


Service revenues rose by 3.6% in Q1, driven mainly by growth in its consumer business (+4.5%) and to a lesser extent by business services (+3.2%).

Ebitda AL, a key measure of profitability in the sector, followed suit, rising by 3.6% to E605m over Q1.

KPN stated that it had raised its financial forecasts for 2024, although explained that this revision was due to the acquisition of Youfone, completed at the start of April.

The Dutch telecom operator now expects full-year adjusted operating profit (Ebitda AL) of around E2.5bn, with FCF of at least E890m.

Following this unsurprising publication, KPN shares were down 0.2% on Wednesday in Amsterdam, although have risen by 9% YTD.


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