(Telecompaper) KPN reported second-quarter revenues down 7.1 percent to EUR 2.00 billion. The decline slowed from 9.8 percent a year earlier, but the Dutch operator continued to suffer from difficult conditions in the mobile and business markets. EBITDA was still up 41 percent year-on-year thanks to the release of a pension provision. Excluding that, EBITDA fell 19 percent to EUR 633 million, giving a margin of 31.6 percent. The margin was up slightly from the previous quarter but down almost 5 percent points from a year earlier. Net profit roughly doubled to EUR 346 million or EUR 0.08 per share, thanks to the pensions gain. As part of discontinued operations, KPN wrote off EUR 744 million on its German operator E-Plus, due to the fall in share price at Telefonica Deutschland. Including this, KPN had a net loss of EUR 180 million in the quarter. The sale of E-Plus to Telefonica is expected to close in the current quarter, leaving KPN with a 20.5 percent stake in Telefonica Deutschland. KPN said its cost reduction programme has led to the loss of 350 jobs and EUR 75 million in savings so far this year. KPN maintained its outlook for 2014 and 2015. It expects results to stabilise towards the end of this year, while capex is forecast at less than EUR 1.4 billion and the dividend at 7 cents a share in 2014. In 2015, capex will remain below EUR 1.5 billion and the company expects a return to growth in free cash flow.