KPN delivers on FY 2023 outlook, with strong Q4 performance
- Continued Group service revenue growth in Q4 (+4.2% y-on-y), supported by all segments
- Strong service revenue growth in Consumer Mobile (+7.9% y-on-y) and improving Fixed trend (+2.4% y-on-y)
- Continued Consumer broadband base (+5k) growth in Q4; total Consumer broadband base growth 30k in 2023
- Sustainable Business service revenue growth (+4.4% y-on-y), driven by strong growth in SME and stabilizing LCE trend
- Record year fiber HP footprint expansion (+725k HP incl. Glaspoort)
- FY 2023 adj. EBITDA AL of € 2,420m (+0.6% y-on-y) despite inflationary pressures; FCF of € 886m (+2.7% y-on-y)
- Steadily improving ROCE to 14.1% in 2023, reflecting shareholder value creation
- 2024 outlook: Service revenue growth ~3%, adj. EBITDA AL ~€ 2,480m, Capex ~€ 1.2bn and FCF raised to ~€ 880m
- € 200m share buyback and 13% DPS growth (DPS of € 17.0 cents), returning anticipated FCF to shareholders again in 2024
For the full disclosure, please see the attached press release