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KPN Q1 sales down 8%, EBITDA falls 22%

2014-04-25 08:37:00| Telecompaper Headlines

(Telecompaper) KPN announced first-quarter revenues down 8 percent to EUR 2.00 billion, hurt by price pressure and competition, especially on the mobile and business markets. EBITDA fell 22 percent from a year earlier to EUR 624 million, and net profit dropped 98 percent to EUR 3 million. Free cash flow at the Dutch operator was a negative EUR 292 million. KPN said it still expects results to stabilise towards the end of this year and maintained its full-year outlook. Capex is expected to be less than EUR 1.4 billion this year and below EUR 1.5 billion in 2015, including Reggefiber. Free cash flow should also grow from next year. The company is also confident it will complete the sale of E-Plus to Telefonica Deutschland, which should allow it to restore dividend payments. 

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Category:Telecommunications

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