KPN bests Q2 net income estimates; on track to meet full-year guidance

31 Jul 2007

KPN posted better-than-expected results in the three months to 30 June, bolstered by its outperforming mobile division, and reiterated it was on track to meet its full-year guidance. The operator recorded net income of EUR400 million (USD million), down from EUR431 million in the year-ago period, but better than market estimates of between EUR331million and EUR373 million. Sales in the quarter reached EUR3.012 billion, up from EUR2.979 billion in 2Q 2006, but below the consensus forecast range of EUR3.107-3.018 billion. However, EBITDA of EUR1.275 billion (EUR1.281 billion in 2Q 2006) beat the forecast range of EUR1.230-1.251 billion, while operating profit was EUR649 million, compared with EUR670 million previously. KPN chief executive officer Ad Scheepbouwer said: ‘Mobile in particular has done exceptionally well, both abroad as well as in the Netherlands. Once again, E-Plus was the fastest growing operator in Germany, and mobile in the Netherlands delivered record growth.’



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