First quarter results 2025

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Today, KPN has announced the first quarter results 2025.

Joost Farwerck, CEO, on the results:

"We delivered solid results in the first quarter, and we are well on track with the execution of our strategy. During the quarter, our Consumer service revenues continued to grow, both in the Fixed and Mobile domains. Business service revenues came in strong once again, driven by SME and Tailored Solutions. Adjusted for Youfone, our Wholesale service revenues further improved, mainly driven by the ongoing growth of our international sponsored roaming business.

Driven by these healthy revenue growth developments, we delivered attractive growth in adjusted EBITDA AL. As anticipated, our first quarter Free Cash Flow was impacted by higher tax and interest payments, alongside the phasing of working capital.

The economic and geopolitical environment in which we operate is increasingly volatile and uncertain, however we are confident that the direct impact from US and reciprocal trade tariffs on our operational KPIs and financial results is limited. We keep a close watch on the impact of global trade and economic developments on the Dutch economy and consider our business resilient and demand for our essential connectivity and communication services is expected to remain robust.

We continue to lead the Dutch fiber market with strong delivery of connected homes and activations of new fiber broadband customers. Together with our joint-venture Glaspoort we now cover 64% of the Netherlands with a fiber connection. Our investments in our networks continue to pay off, as we have been recognized as the best mobile network in the Netherlands with the highest score ever measured worldwide, by the global benchmark organization Umlaut.

We remain committed to our mission for a #BetterInternet. Securing our data, networks and systems is crucial to keeping personal information confidential and important data accessible. Therefore, we are providing security licenses for free to our retail base and we enable Dutch businesses in becoming digitally resilient in today’s complex world, supporting them in their digital transformation to work more securely and efficiently.

With the closing of the Althio transaction in mid-February, we have raised our full-year 2025 guidance for adjusted EBITDA AL and Free Cash Flow. We are confidently progressing towards our mid-term objectives as outlined during our Capital Markets Day, including cumulative shareholder distributions. As part of this, a € 250 million share buyback for this year commenced in February.”