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General

KPN achieves FY targets, Q4 sales fall 1.3%

Wednesday 1 February 2017 | 08:29 CET | News
Update: 1 February 2017 | 10:39 CET
Dutch KPN operator achieved its targets for 2016 and reported a small drop in Q4 revenues. Sales were down 1.3 percent from a year earlier to EUR 1.72 billion in the last three months of the year, while EBITDA was up 8.3 percent to EUR 626 million, driven by cost reductions and fewer employees. KPN cut 175 jobs during the quarter and around 500 in the past year for a total of 13,530 employees at year-end. The lower costs pushed its EBITDA margin up 3 percent points to 39.6 percent. Operating profit rose 54 percent to EUR 246 million thanks to lower depreciation, while net profit was down 55

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[01/02/2017 10:39 - Update: Adds detail on consumer, business divisions.]


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Categories: General
Companies: KPN
Countries: Netherlands
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