Den Haag, 24-4-12
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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