KPN: beats estimates on cost savings

(CercleFinance.com) - Dutch telecoms group KPN on Wednesday reported better-than-expected second-quarter results, largely driven by cost savings.


The former Dutch telecom monopoly said its EBITDA over the last three months amounted to 602 million euros, from 596 million euros a year ago.

KPN reported sales of 1.36 billion euros, down 3.1% from last year, although the group benefited from total adjusted operating expenses that fell by 7.8% to 723 million euros.

The company said it now expects adjusted EBITDA to grow "slightly" compared to 2018, from "in line with 2018" in its previous estimates.

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