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Den Haag, 24-7-12

Highlights
• Confirming 2012 EBITDA, Capex and FCF outlook
• Maintaining prudent financial framework in challenging financial markets, dividend per share to EUR 0.35
• Important steps taken in reinforcing brand positioning Consumer Mobile
• Leading TV proposition in Dutch market, Fiber-to-the-Home penetration increasing
• Good progress in FTE reduction program
• Promising introduction of postpaid all-net flat propositions in Germany
• Continued strong profitable growth in Belgium, sale process started

Message from the CEO, Eelco Blok
“KPN posted a satisfactory operational performance in the first half of 2012. In The Netherlands, despite the ongoing pressure on results from difficult market conditions, we are driving forward the accelerated investment strategy to strengthen our market positions across segments. In Consumer Mobile, our new propositions and enhanced distribution footprint are gaining good traction. In Consumer Residential, our TV market share and FttH penetration are increasing, benefiting from the investments in copper upgrades and FttH roll-out. In Germany and Belgium we maintained growth in service revenues and customers including postpaid, while continuing to extend our high speed networks and launch attractive new propositions to drive future growth.

In the second quarter, we concluded the strategic reviews of our German and Belgian businesses. We have an even stronger belief in the significant value of E-Plus. We have started the sale process for BASE in Belgium. BASE is a successful challenger with excellent momentum for continued upside; we expect a sale price to reflect that. Maximizing value for our shareholders remains the core of our approach to portfolio management and capital allocation.

Maintaining a prudent financial framework is essential in the current challenging financial markets. We announce a reduction in the outlook for the full year 2012 dividend per share to EUR 0.35 and a 2013 dividend per share outlook of at least EUR 0.35. We will pay an interim 2012 dividend per share of EUR 0.12 in August. We don’t take this pre-emptive step lightly. The economic prospects in The Netherlands continue to be difficult and we are outside our financial framework range. Today, it is even more important to strike the right balance between a prudent financial framework, continued investments and sustainable shareholder remuneration. This will support our credit ratings and enhance our financial flexibility. Our EBITDA, Capex and free cash flow guidance for full year 2012 are confirmed.

To conclude, we will continue a constructive dialogue with our new large shareholder, América Móvil. We will explore diligently any potential areas of cooperation that are viable, value accretive, in line with our strategy and in the interests of all shareholders and other stakeholders.”


Lees het volledige persbericht hier: www.kpn.com/results.htm