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KPN Group Announces Q1 2012 Results - First quarter of the 2012 transition year was according to plan
KPN Group Announces Q1 2012 Results

 

NewswireToday - /newswire/ - The Hague, Netherlands, 2012/04/25 - First quarter of the 2012 transition year was according to plan.

   
 
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Highlights:

• Financial results according to plan in first quarter of transition year;
• EBITDA and FCF impacted by phasing and accelerated investments in The Netherlands;
• Further improving Dutch mobile propositions and expanding distribution;
• Increasing TV market share and start of regionalization in Consumer Residential;
• Revenue growth at good EBITDA margin in Germany, strong underlying growth in Belgium;
• Confirming outlook;
• 2011 dividend of EUR 0.85 approved by AGM, final dividend of EUR 0.57 paid today.



Message from the CEO, Eelco Blok

"The overall performance of the KPN Group in the first quarter of the 2012 transition year was according to plan. The implementation of the accelerated investment strategy for The Netherlands is on track, and we have made several key management appointments that will help us achieve our strategic ambitions. In Consumer Mobile, we have made substantial improvements to our propositions and have expanded our distribution footprint. In Consumer Residential, our TV market share increased further and the implementation of the regionalization approach is starting. Results in Germany reflected revenue growth at a good EBITDA margin, while Belgium showed another strong quarter. We continued to invest in the high speed data network roll-out in Germany and Belgium and in new propositions to support growth. The roll-out of the high speed data network in Germany is on track to reach the target of 80% population coverage by the end of this year.
On the cost side, we continued to make progress with our FTE reduction program in The Netherlands of 4,000-5,000 FTE which we now intend to complete by the end of 2013, two years earlier than originally planned. Included in this, I have set a tough but achievable target for Group headquarters to reduce costs by 30-40% by 2013.

Needless to say, the current financial performance of the company is not in line with our medium to longer term ambition. The accelerated investment strategy in this transition year, combined with a focus on quality and simplification to drive customer satisfaction and reputation, will support a sustainable level of profit for The Netherlands from end-2012. Group profits and cash flow are planned to improve in the second half of 2012, driven by a better performance in our Dutch businesses. Therefore, I confirm the 2012 outlook.”

 
 
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Written by / Agency / Source: KPN N.V.

 
 

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KPN Group Announces Q1 2012 Results

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