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Solid performance in Q1 2008
Share KPN
Den Haag, 29-4-08
Highlights
· Solid Q1 performance in revenues, EBITDA and earnings
· Accelerating growth and continued market outperformance at E-Plus
· Resilient underlying EBITDA in the Netherlands
· Growth in mobile data, VoIP and TV; further improvement of net line loss
· Solid performance at Getronics
“We have delivered robust results with growth in revenues, EBITDA and earnings. Our recent acquisitions have made a good contribution and our existing businesses are also progressing well. Mobile International has shown excellent performance spearheaded by E-Plus where service revenue growth accelerated again and whose customer base now exceeds 15 million customers. First quarter performance in the Netherlands encourages us to expect that we will comfortably pass the 2008 EBITDA floor of EUR 3,174m provided in our guidance on February 5, 2008. Meanwhile we are on track to deliver EUR 2.4bn free cash flow in 2008 as per our guidance, despite first quarter free cash flow being lower than last year as a result of tax, interest, capex and working capital phasing differences. Overall we have made a strong start towards achieving the goals of our recently announced ‘Back to Growth’ strategy.”
Ad Scheepbouwer, CEO KPN
