KPN delivers solid start to the year
- Continued Group service revenue growth (+3.6% y-on-y), mainly driven by Consumer (+4.5%) and Business (+3.2%)
- Ongoing positive net adds in Consumer postpaid +30k and broadband +13k, of which 8k related to Kabeltex acquisition
- Expanded fiber footprint with +130k HP in Q1 2024 (+159k HP including Glaspoort)
- Adj. EBITDA AL of € 605m (+3.6% y-on-y), quarterly FCF generation impacted by intra-year phasing
- ACM unconditionally approved Youfone acquisition, transaction closed on 4 April
- Full year 2024 outlook raised to ~€ 2,500m adjusted EBITDA AL and >€ 890m FCF, reflecting Youfone acquisition
- On track to reach mid-term ambitions; including cumulative shareholder distributions
For the full disclosure, please see the attached press release