Third quarter results 2022

Joost_Farwerck-10-lowres

Today, KPN has announced the third quarter results 2022.

Joost Farwerck, CEO, on the results:

“In the third quarter, we continued to make progress against our strategic and financial ambitions. We have been able to show Group service revenue growth for the fifth quarter in a row. We see a healthy customer inflow in Consumer and Business, especially in mobile. Business service revenues grew for the second consecutive quarter, with SME again making a strong contribution. Consumer mobile service revenues continued to grow, partly offsetting the competitive dynamics in fixed. The commitment shown by our people towards enhancing customer centricity has been paying off, as illustrated by customer satisfaction improvements in both Business and Consumer.

KPN took the initiative to improve the terms of its wholesale fiber offer, including a cap on the pass through of inflation to wholesale providers. The new offer has been effective since the end of August and is applicable for a period of 8 years. This enables us to roll out fiber at a fast pace and supports our successful open network policy. We keep expanding our fiber footprint and are consistently making fiber accessible to more Dutch households by delivering these connections.

We are fully committed to creating value for all our stakeholders in a sustainable way. I am therefore pleased that we issued a Green Hybrid Bond to finance projects that support KPN’s ambitious sustainability targets. We remain confident of delivering on our recently upgraded full-year 2022 outlook, despite the current economic environment. In light of this, we provided our employees with a one-off payment to support them with the rising cost of living. There remains a degree of uncertainty about the impact and duration of inflation, but we are working hard on mitigating measures to offset these headwinds. Despite the macro backdrop, we aim to deliver growth next year and remain fully committed to our Accelerate to Grow strategy.”