First quarter results 2023

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Today, KPN has announced the first quarter results 2023.

Joost Farwerck, CEO, on the results:

“We’ve made good progress with our Accelerate to Grow strategy over the last two years. In the first quarter we continued with the solid execution of our ambitious strategy.

Our Group service revenues continued to grow, mainly supported by the Business segment and Consumer Mobile. Business service revenues grew for the fourth quarter in row. Consumer mobile service revenues continued to grow, partly offsetting the competitive dynamics in fixed, where we observed gradual improvements during the quarter. Thanks to the efforts of all colleagues and our investments in the quality and reliability of our digital services, customer experience and NPS are improving again.

The significant investments we make in our networks and services are paying off. Both our fixed and mobile network were tested best-in-class. Moreover, KPN was also recognized as the best ‘all-in-1 provider’ of the Netherlands, both on fiber (1st place) and copper (2nd place), demonstrating the qualities of our service. Alongside our best-in-class mobile network we are on track with our fiber roll out. Moreover, we recently started to decommission our copper network in fiber areas, making super-fast internet via fiber the norm, resulting in significant quality improvements and spend savings going forward.

I am pleased that our sustainability achievements and ambitions are recognized and appreciated by Dutch consumers and that KPN has again been chosen by the Sustainable Brand Index as the most sustainable Dutch telecom brand.

We also announced the appointments of two new members of the Board of Management. With the intended appointments we ensure that we can continue to successfully execute our ambitious Accelerate to Grow strategy for which we will present the next chapter to the markets later this year, during our next Capital Markets Day.

Finally, despite relatively high wage indexation and rising energy and lease costs affecting our cost levels, the sustainable service revenue growth run-rate and measures we have put in place provide us with confidence in our ability to return to EBITDA growth during the year and therefore confidently reiterate our outlook.”