Fourth quarter and annual results 2021
Today, KPN has announced the fourth quarter results 2021.
Joost Farwerck, CEO, on the results:
“In 2021, we continued to make good progress against our strategic and financial ambitions. We delivered growth in mass-market service revenues; a clear proof point of the success of our strategy and an important step towards sustainable top-line growth for KPN. SME service revenues grew for the second quarter in a row, providing momentum and confidence that we can stabilize our total business segment service revenues by the end of 2022. In Consumer, fiber and our converged portfolio are delivering revenue growth. Mobile service revenues are now growing and fixed service revenues are stabilizing. Wholesale continued to make a strong contribution, thanks to our successful open wholesale access policy. The commitment shown by my colleagues towards customer centricity has been paying off, as illustrated by customer satisfaction improvements in both Business and Consumer.
To remain the undisputed quality leader in the Netherlands, we accelerated our fiber rollout to unprecedented levels. In 2021, we added a record number of households to our fiber footprint, together with Glaspoort even over half a million households this year and we are well on track to deliver 80% coverage of Dutch households by 2026. The efforts to modernize our mobile network are paying off. We have been awarded the Ookla best mobile network in the Netherlands for the third time in a row; proving KPN offers the fastest 5G speeds and best coverage in the Dutch market, and we see more and more customers benefiting from this. Our mobile base expanded for business and consumer customers, we see continued growth in the SME broadband base, and we also delivered small growth in consumer broadband. In a world heavily dependent on digital interactions, the stability and reliability of our networks is fundamental and the importance of cyber security is becoming more evident every day, for which reason we continue to put security first. I highly value the contributions of our determined people who every day go all out to connect everyone in the Netherlands to a sustainable future.
We are fully committed to create long-term value for all our stakeholders in a sustainable way and have delivered on our 2021 outlook and ambitions. Although cost savings were moderate, productivity increased considerably and improving service revenues supported growth in EBITDA, while Free Cash Flow exceeded our guidance. The overall progress made in 2021 illustrates the successful execution of our strategic plan. This drives future growth and combined with our strong financial position, this enables us to considerably grow shareholders returns for 2022 through a growing dividend and new share buyback.”