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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.
KPN has set a number of key objectives for 2015:
- Growing broadband market share in the Netherlands to more than 45%
- Sustained mobile service revenue market share in the Netherlands of more than 45%
- Maintaining its position as leading business & ICT player
- Simplification and quality management leading to a ‘first time right’ range of 85-95%, a large step up in Net Promoter Score and a top 10 Dutch reputation ranking
- Service revenue market share in Germany of more than 20% with a 35-40% EBITDA margin
- Service revenue market share in Belgium of 20-25% with a 35-40% EBITDA margin
- Accelerate Ortel growth at Rest of World, continued value creation at iBasis
As part of the strategic review, KPN has identified the following outlook:
| Reported 2011 | Outlook 2012 | |
|---|---|---|
| EBITDA | EUR 5.3bn | EUR 4.7 - 4.9bn1 |
| Capex | EUR 2.0bn | EUR 2.0 - 2.2bn |
| Free cash flow2 | EUR 2.4bn | EUR 1.6 - 1.8bn |
| Dividend per share (DPS) | EUR 0.85 | EUR 0.90 |
1 Excluding 2011 restructuring costs
2 Free cash flow defined as cash flow from operating activities, plus proceeds from real estate, minus Capex and excluding tax recapture at E-Plus
