KPN: confirms targets after Q2 in line

(CercleFinance.com) - Dutch telecom operator KPN said on Monday that it is on track to meet its annual targets after reporting quarterly results that are in line with expectations.


This morning, the group reported a 1.6% increase in Q2 sales to E1.31bn, with adjusted operating profit (EbitdaAL) up an inch (+0.1%) to E595m.

By way of comparison, analysts were targeting sales of E1.33 bn and EbitdaAL of E592m.

In a reaction note, analysts at AlphaValue consider that KPN's "cash-generating machine" is back on track.

KPN has maintained its forecast for adjusted EbitdaAL of around E2.41bn this year, accompanied by free cash flow of about E870m.

The group also plans to pay an ordinary dividend of 15 cents per share in 2023.


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