KPN: 2021 targets achieved, 2022 guidance confirmed

(CercleFinance.com) - Dutch telecoms operator KPN said on Monday that it has achieved its targets for the past financial year, in particular thanks to the rollout of fiber and an acceleration in 5G.


The former Dutch monopoly this morning reported Ebit of 1.86 billion euros for FY 2021, compared to profit of about half this - i.e. 912 million euros at end-2020.

However, revenues fell slightly (-0.3%) to 5.25 billion euros, just under the 5.27 billion euros expected by analysts.

The group also maintained its targets for 2022 and announced the launch of a new share buyback program of around 300 million euros, to which should be added a 5% increase in the dividend, which should enable shareholders to benefit from a redistribution of over 850 million euros this year.

This publication seemed to convince the market on Monday morning, without investors going wild, as the KPN share rose by more than 0.6% on the Amsterdam stock exchange.

The group can now again be seen as a moderate growth story over the long term, AlphaValue said.


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