KPN continuously invests in its network infrastructure, products and customers, resulting in high quality fixed and mobile networks and improved customer satisfaction ratings across all segments. KPN continues to focus on improving the customer experience by further investing in capacity, reliability and stability of its integrated network. KPN’s free cash flow generation (after capital expenditures) forms the basis for its policy related to regular dividends.
KPN aims for sustainable Free Cash Flow (excl. TEFD dividend) growth, driving a progressive regular dividend per share and deleveraging.
KPN remains committed to an investment grade credit profile and aims for a net debt to EBITDA ratio of <2.5x in the medium-term. The stake in Telefónica Deutschland is treated as a financial investment and provides KPN with additional financial flexibility.