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Strategy
On 11 May 2011 KPN announced the outcome of its strategic review, setting the objectives for the period 2011 to 2015. KPN has identified a number of priorities to strengthen, simplify and grow its businesses. In the Netherlands, the focus will be on strengthening its activities to further improve its leading market positions. KPN will keep investing internationally to grow its Challenger business and continue to outperform the market. A group-wide focus on simplification, quality and reputation will drive customer satisfaction in a swiftly changing telecom and ICT market. KPN will streamline its portfolio of businesses to put a renewed focus on value. Furthermore, KPN will continue to invest in its businesses and commits to sustainable shareholder remuneration within a prudent financial framework.
Strategic objectives
On 5 February 2013, KPN published its Q4 2012 results. KPN revised its strategic market objectives to a level where the respective businesses are expected to operate at in the medium to longer term, taking into account the specific market dynamics surrounding the operations and striving for the right balance between growth and profitability.
The Netherlands
- Minimum broadband market share >40%; long-term goal 45%
- Growing RGUs and ARPU per customer in Consumer Residential
- Minimum long-term total mobile market share >40%
- Leading business & ICT player with stable market positions
- Finalization 4-5k FTE reduction program end-2013; continued FTE cost efficiency in 2014 and onwards
- 40-45% medium-term EBITDA margin
International
- Long-term market share goal 20% in Germany with 30%-35% medium-term EBITDA margin
- Long-term market share goal 25% in Belgium with 25%-30% medium-term EBITDA margin
Outlook
As part of the strategic review, KPN has identified the following outlook:
- The Netherlands expected to stabilize towards 2014
- Next phase German strategy expected to lead to service revenue growth combined with lower EBITDA margin, especially in 2013
- Capex in 2013 below EUR 2.3bn and total planned Capex for the period 2013-2015 below EUR 7bn, including Reggefiber
- No dividend for 2013 and 2014, thereafter resume dividend payments, subject to operational performance and financial position
