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Solid Q3 performance driven by both Mobile International and the Netherlands
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Den Haag, 30-10-07
Q3 results: solid performance, on track to meet guidance
- Revenues and other income flat at EUR 3.0bn, YTD -0.5% or -0.7% per guidance
- EBITDA up 1.8% at EUR 1.2bn, YTD 0.0% or -0.1% per guidance definition
- Capex of EUR 0.4bn, YTD EUR 1.0bn
- Free cash flow of EUR 0.6bn, YTD EUR 1.8bn
- EPS up 12% to EUR 0.19 driven by continued share repurchases
Mobile International: continued profitable growth
- E-Plus postpaid net adds accelerating, EBITDA up 22% YTD, margin well above 35%
- New propositions and strengthened distribution through acquisitions by BASE
The Netherlands: resilient performance, increasing share of new services
- Consumer line loss improved (lowest since Q3 2005), record TV net additions
- Continued growth in Business, EBITDA up 14%, driven by new IP-based services
- Business profile strengthened by iBasis merger and Getronics acquisition
- In former Fixed decelerating revenue and EBITDA decline (lowest since Q1 2006)
All-IP strategy: well on track to migrate to IP-based network and services
- Preparations for All-IP mass rollout at advanced stage, installation capacity committed
- Sale of real estate top portfolio (~EUR 300m) in H1 2008 under consideration
Shareholder returns: increased to EUR 2.5bn
- Interim dividend of EUR 0.18 per share paid in August, EUR 337m in total
- EUR 1bn share repurchase program accelerated and completed in August
- Additional EUR 0.5bn program started in September, 47% completed to date
Ad Scheepbouwer, CEO of KPN, said:
“This has been an eventful quarter for KPN. Whilst our financial results are again in line with management guidance, we made an important strategic move up the value chain into ICT services through the Getronics acquisition and with iBasis we are now a top three international wholesale carrier. Within the businesses, The Netherlands delivered a resilient performance and the outperformance by E-Plus, on all key metrics, and recent acquisitions by BASE, has laid Mobile International’s growth foundations. Alongside the steady group financial results, we have continued to drive shareholder returns and Q3 cash returns were over EUR 1.0bn. The vision of our March 2005 strategy is now almost fully in place and we look with confidence to the future"
