KPN Q3 revenues drop 1.6%

24 Oct 2018

Dutch fixed and mobile operator KPN posted a 1.6% year-on-year drop in total revenues to EUR1.399 billion (USD1.604 billion) in the three months ending 30 September 2018, which it attributed to ongoing pressure in the mobile market and lower wholesale revenue, alongside the effects of regulation. EBITDA declined by 1.2% y-o-y in Q3 2018 to EUR585 million, although excluding the impact of a new Collective Labour Agreement, KPN said the figure would have been flat y-o-y as lower revenues were offset by ongoing savings from simplification/digitalisation of services. Net profit of EUR90 million in Q3 2018 was down 9.5% y-o-y, as lower operating profit was only partly offset by reduced net finance costs. Quarterly CAPEX was EUR257 million in 3Q18 (3Q17: EUR239 million).

KPN’s results highlighted that in Q3 2018, 68% of KPN-branded consumer mobile post-paid subscribers (i.e. excluding its sub-brands, MVNOs/resellers and business users) took a fixed-mobile KPN service bundle (up from 62% in Q3 2017). Furthermore, across all KPN’s own consumer brands, the number of converged (i.e. mobile plus fixed) post-paid subscribers grew by 53,000 in Q3 2018 and passed the milestone of more than two million customers, equal to 56% of the consumer post-paid customer base excluding MVNO/reseller users (Q3 2017: 49%). The number of KPN fixed-mobile households grew by 26,000 to 1.325 million at end-September 2018, or 45% of its consumer fixed broadband customer base (Q3 2017: 40%).

Netherlands,KPN,

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