First quarter results 2024

Joost_Farwerck-10-lowres

Today, KPN has announced the first quarter results 2024.

Joost Farwerck, CEO, on the results:

“During the first quarter of our Connect, Activate & Grow strategy, we continued to deliver positive results. Group service revenues are growing sustainably, with all segments contributing. Consumer service revenues continued to improve, supported by ongoing fixed and mobile service revenue growth. We saw a healthy customer inflow, both in fixed and mobile, supported by our extensive fiber roll out and by the strong commercial performance of our new speed tiering proposition. Business service revenues continued to grow with SME as the main contributor. As expected, the growth trend in Wholesale levelled off compared to previous quarters, mainly due to a decrease in low-margin interconnect revenues. I appreciate the dedication and perseverance of our people and their commitment to always deliver our customers the best experience, which is illustrated by our leading NPS scores. 

The fiber engine is running at full speed, in line with our ambition to cover ~80% of the Netherlands with fiber by 2026. We further optimized the way we roll out, with strong delivery of homes connected. Our investments in our networks are paying off, as we have been recognized, once again, as the best mobile network in the world by the global benchmark organization Umlaut. 

We remain fully committed to create sustainable long-term value for all our stakeholders. This is clearly reflected in our ambitious ESG agenda, where we focus on creating “A Better Internet”, a safer, more social and greener Internet for everyone in the Netherlands. In this respect, 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. 

As a result of the Youfone acquisition, we raise our full year 2024 guidance for adjusted EBITDA AL and Free Cash Flow. We remain on track to deliver on our mid-term ambitions as outlined during our Capital Markets Day, including cumulative shareholder distributions.The first step, a 200 million euros share buyback for this year has been nearly completed.”