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    KPN   NL0000009082

KONINKLIJKE KPN N.V.

(KPN)
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Dutch telecoms group KPN to cut costs, expand high-speed fibre network

11/28/2018 | 03:13am EDT
FILE PHOTO: KPN logo is seen at a KPN outlet in Den Bosch

(Reuters) - KPN, the largest Dutch telecom company, plans to cut operating costs and connect 1 million households to its high speed fibre optic network by 2021, it said on Wednesday.

"Our evolving landscape requires us to become more flexible, improve our time to market and bring innovation to our customers faster than ever," Chief Executive Maximo Ibarra said in a statement.

The company, which is holding a capital markets day later, said it aims to save around 350 million euros (310 million pounds)in operating expenses over the period, which it expects will help it grow its adjusted core profit (EBITDA).

It also plans to add 1 million new customers to its fibre-to-the-home (FttH) data network by the end of 2021.

"The FttH targets are way above consensus expectations and sooner than we thought possible," said Berenberg analyst Usman Ghazi. "The savings are much bigger than consensus, implying upside to EBITDA estimates."

The company also said it expects revenue to steady over the period, with adjusted core profit in its division serving businesses stabilising by mid-2020.

KPN stuck to its targets for 2018.

(Reporting by Alan Charlish in Gdynia; Editing by Rashmi Aich and Louise Heavens)


ę Reuters 2018
Stocks mentioned in the article
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JUST GROUP PLC -3.04% 94.1 Delayed Quote.34.62%
KONINKLIJKE KPN N.V. -1.28% 2.618 Real-time Quote.5.27%
WILL GROUP, INC. -2.26% 993 End-of-day quote.-1.29%
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Financials
Sales 2021 5 224 M 6 195 M 6 195 M
Net income 2021 541 M 642 M 642 M
Net Debt 2021 5 693 M 6 751 M 6 751 M
P/E ratio 2021 20,1x
Yield 2021 5,29%
Capitalization 10 988 M 13 027 M 13 031 M
EV / Sales 2021 3,19x
EV / Sales 2022 3,13x
Nbr of Employees 9 237
Free-Float 79,8%
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Technical analysis trends KONINKLIJKE KPN N.V.
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TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 3,12 €
Last Close Price 2,62 €
Spread / Highest target 52,8%
Spread / Average Target 19,1%
Spread / Lowest Target -12,1%
EPS Revisions
Managers and Directors
NameTitle
Joost F. E. Farwerck Chairman-Management Board, CEO & COO
Chris H. Figee Chief Financial Officer
Duco W. Sickinghe Chairman-Supervisory Board
Babak Fouladi Chief Technology & Digital Officer
Derk Johan Haank Vice Chairman-Supervisory Board
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