Second quarter results 2025

Joost_Farwerck-10-lowres

Today, KPN has announced the second quarter results 2025.

Joost Farwerck, CEO, on the results:

“We launched our Connect, Activate, and Grow strategy in November 2023 and are now almost halfway through the execution of this ambitious four-year plan, with significant progress achieved. 

During the second quarter, Group service revenues continued to grow, driven by all segments. In Consumer, we saw a healthy inflow of new postpaid and broadband customers, driven by both commercial momentum and continued focus on loyalty and base management. Our Business and Wholesale segments continued to perform strongly, contributing to the overall revenue growth. This, coupled with our disciplined cost management, led to strong adjusted EBITDA AL growth. Alongside our solid operational performance, our adjusted EBITDA also benefitted from a favorable settlement in June, related to intellectual property rights (IPR). As anticipated, our Free Cash Flow in the first half of the year was impacted by working capital phasing, and higher tax and interest payments, but will rebound in the second half of the year. 

We continue to lead the Dutch fiber market. Together with our Joint Venture Glaspoort, we now cover two-thirds of the Netherlands and are making steady advancements in connecting homes and activating new fiber lines. Delivering secure and reliable connectivity is at the core of our strategy, and our ongoing efforts significantly contribute to the resilience of the Netherlands. 

Employee engagement remains high, with employees recognizing KPN as a modern and inclusive workplace. Thanks to the strong contribution and daily commitment of team KPN, we continue to connect everyone to a safer, more social, and greener future. This dedication supports our #BetterInternet mission and sustainability agenda, reflected in our continued top-tier ESG ratings. We were once again recognized with the platinum EcoVadis medal, MSCI AAA status, and a position on the CDP’s A-list. 

In addition to the June IPR settlement, we resolved another IPR case early July. With these IPR benefits and our solid business and financial progress to date, we are raising our full-year 2025 guidance for adjusted EBITDA AL and Free Cash Flow. We remain on track to achieve our mid-term ambitions, including cumulative shareholder distributions. In this respect, the €250 million share buyback for 2025 is nearing completion. Finally, as we are approaching the midpoint of our strategic period, we look forward to providing you with a strategy update on 5 November.”