Third quarter results 2023

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Today, KPN has announced the third quarter results 2023.

Joost Farwerck, CEO, on the results:

“We continue to deliver positive results with our current ‘Accelerate to Grow’ strategy with all segments contributing to sustainable service revenue growth. Our focus on customer centricity and commitment to delivering the best connectivity remains part of our DNA, as evidenced by the recent introduction of our 4 Gbps broadband offering. This is reflected in our strong brand positioning and further recognition as the best internet and mobile provider in the Netherlands, this time, by Tweakers. We remain on track with our fiber roll out and make good progress decommissioning the copper network in fiber areas.

In the third quarter, Consumer fixed service revenues inflected and mobile service revenues continued to grow, supported by another quarter of solid base inflow in both broadband and mobile and July’s broadband price increase implementation. Business service revenues have durably and sustainably inflected, with SME making a strong contribution again. In the quarter, Consumer NPS declined mainly due to consumer sentiment around inflation-driven price increases. Within B2B, the LCE turnaround remains a priority and its slight decline in the quarter was mainly due to reduced roaming traffic.

We remain active on our ambitious ESG agenda. During this quarter, KPN achieved Aspirant status on the Social Entrepreneurship Performance Ladder (PSO) certification, recognizing KPN as being a more inclusive employer. Furthermore, we launched our innovative mobility policy, which rewards employees for choosing sustainable commuting.

We are on track to deliver on our full year outlook. The sustainable service revenue growth run rate, continued robust performance and the measures we have put in place have contributed to mitigate the increasing cost levels from wage indexation and higher energy prices.

With a strong foundation built over the past years, we are ready to share an update of our Group strategy for the coming years at our upcoming Capital Markets Day on November 7th.”