KPN revenues down 7.6% in Q3, EBITDA falls 14%

News General Netherlands 22 OKT 2013
KPN revenues down 7.6% in Q3, EBITDA falls 14%
Dutch operator KPN reported third-quarter revenues down 7.6 percent to EUR 2.08 billion, and EBITDA fell 14 percent year-on-year to EUR 743 million. The results exclude its German operator E-Plus, which is being acquired by Telefonica. KPN's net profit fell 56 percent to EUR 87 million. 

Capex totaled EUR 357 million in the three months, down 2.7 percent from a year earlier, and free cash flow fell 38 percent to EUR 63 million. The ration of net debt to EBITDA worsened, to 2.4 from 2.2 in the previous quarter. If the expected proceeds from E-Plus are taken into account, the ratio would be 1.5. 

KPN adjusted its outlook to take account of the German divestment. It reiterated plans to resume dividends from 2014 and lowered its capex outlook to less than EUR 1.7 billion this year and a maximum EUR 4.7 billion over 2013-2015. The Dutch market remains challenging and is only expected to stabilise next year, while the Belgian operations should continue to outperform the market. E-Plus is expected to grow service revenues this year, but see a lower EBITDA margin.  

Categories:

General

Companies:

E-Plus,  KPN,  Reggefiber,  Telefonica

Countries:

Netherlands

Tags:

Voice services, Financial figures, Internet Access

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