Third quarter results 2021

Joost_Farwerck-02-GregorServais-1920x1080

Today, KPN has announced the third quarter results 2021.

Joost Farwerck, CEO, on the results:

“In the third quarter, we continued to make good progress against our strategic and financial ambitions. The fiber engine is running at close to full speed in line with our ambition to cover the Netherlands with fiber by 2026 and to enable superior symmetrical access network speeds of up to 10Gbps. Customer satisfaction levels improved further thanks to customer journey improvements. We see a healthy customer inflow in Consumer and Business, especially in mobile.

Mass-market service revenues continued to grow, supporting service revenue growth for the Group as a whole. Consumer mobile and Wholesale continued to show growth. Most notably, service revenues for our SME segment grew this quarter due to good base developments on our attractive KPN EEN portfolio, ahead of our commitment to stabilize before year end. I see this as an important milestone, providing momentum and confidence to deliver the turnaround for the total Business segment.

I’m grateful for the continued effort of our people to improve customer experience, and I’m pleased to see that employee engagement has remained at a top-tier level throughout the pandemic, while we maintained a strong focus on diversity and inclusion. We’re determined to further strengthen this position as we return to the office, explore new ways of hybrid working and increase personal contact with customers and stakeholders.

We are committed to creating value for all our stakeholders in a sustainable way. We refinanced our existing revolving credit facility with a € 1.0bn Sustainability-Linked facility, integrating our ambitious sustainability agenda into a core financing instrument. We are confident to deliver on our full-year 2021 outlook. The successful execution of our strategic plan enables us to structurally return additional capital to our shareholders. The first step, a 200 million euros share buyback for this year has been nearly completed.”