Hilde joined KPN in December 2018 as Chief People Officer and has served on KPN’s Board of Management since 1 December 2019.

Gerard van de Aast, Chair of the Supervisory Board: “Hilde has played a key role in KPN’s transformation. She has helped to build a strong culture, modernized our employment proposition and strengthened engagement and leadership across the company. Hilde has also helped strengthen KPN’s appeal as an employer. We are grateful for her contribution to KPN and wish her every success in her new role at ING.”

Hilde Garssen: “Over the past 7.5 years, I have had the privilege of shaping KPN’s people strategy in support of KPN’s broader strategy and growth ambitions. Among the many highlights, what I will remember most is the talent, dedication and energy of KPN colleagues, who go above and beyond every day for our customers and for KPN.”

Today, KPN has announced the first quarter results 2026.

Joost Farwerck, CEO, on the results:

“We started the year with positive commercial momentum across the group and continued to execute our Connect, Activate & Grow strategy. Group service revenues grew further, supported by Consumer, SME and Wholesale. Consumer trends were positive, with a healthy inflow of new broadband and postpaid customers, reflecting our emphasis on loyalty, base management and secure propositions. In Business, SME performance remained strong, while overall growth moderated as anticipated due to a decline in low-margin Tailored Solutions revenues. Wholesale continued to grow, mainly driven by international sponsored roaming.

Adjusted EBITDA AL increased in the first quarter, supported by revenue growth and savings from our cost-efficiency initiatives. As anticipated, our Free Cash Flow was impacted by the timing of interest payments and working capital movements.

Our continued investments in network quality and digital capabilities are paying off. We continue to lead the Dutch fiber market, and for the fifth consecutive year, the global benchmark organization Umlaut has recognized KPN as the best mobile network in the Netherlands, and again also with the highest score in the world. NPS scores for both our Consumer and Business segments developed favorably in the first quarter. In addition, KPN was named the most sustainable telecom brand in the Sustainable Brand Index for the seventh year in a row. All in all, these evaluations reflect the dedication of Team KPN and our sustained focus on quality and durability, which are driving improvements in customer experience and satisfaction.

Data and operational sovereignty is an increasingly important topic for our customers, and we are well positioned to support them in this area. To this end, KPN was one of the co-signees of the Manifest to support sovereign cloud developments in the Netherlands, laying the foundation for future initiatives in this field.

Overall, we remain on track with the execution of our Connect, Activate & Grow strategy. While the geopolitical backdrop remains volatile KPN’s financial results have proven to be resilient. We therefore reiterate our full-year 2026 outlook and mid-term ambitions.”

Documents

Please find all the documents regarding the results here: ir.kpn.com.

The agenda included a resolution to declare a total dividend over the fiscal year 2025 of 
€ 0.182 per ordinary share. As a result, a final dividend of € 0.109 per ordinary share will be paid in cash, net of 15% dividend withholding tax, on 27 April 2026. As of 17 April 2026, the shares will trade ex-dividend.

Furthermore, the AGM approved the reappointment of Ms Kitty Koelemeijer as a member of the Supervisory Board for a second four-year term.

Detailed information about the approved resolutions and other agenda items is now available on the KPN website (ir.kpn.com).

Formal disclosures:
Royal KPN N.V.
Head of IR: Matthijs van Leijenhorst 
Inside information: No
Topic: KPN AGM approves all agenda items
15/04/2026
KPN-N

Strong progress in a safely connected Netherlands

In 2025, a new milestone was reached in the Netherlands' digital infrastructure: approximately 70 percent of Dutch households now have fiber optic access through KPN. The fiber optic rollout will enter a different phase, but the ambition remains undiminished: 85 percent coverage by 2030.

KPN was once again named the best mobile network , receiving the highest score ever in the international umlaut benchmark. By continuing to invest in secure and high-quality networks, customers benefit from a reliable and future-proof mobile network.

KPN's strategy focuses on further modernizing and automating networks and processes. By leveraging data and AI, networks are managed more intelligently, disruptions are prevented, and customers can be served faster and better.

With the introduction of the new cell tower company Althio, in collaboration with the ABP pension fund, KPN took the next step in increasing the flexibility of its infrastructure. With Simyo and Youfone, KPN offers a wide range of services to customers and strengthens the future-proofing of its brand portfolio.

KPN also made digital security more accessible. Based on its Security First vision , KPN offers simple and effective security solutions for consumers, businesses, and governments, supporting the safe use of the internet and digital services.

For a #BetterInternet

In 2025, KPN updated its Connect, Activate & Grow strategy , increasing its fiber optic ambitions and shifting its focus to home connections to meet the high demand. KPN also announced further investments in cybersecurity and digital resilience.

KPN has taken a major step in the area of sustainability. Since early 2025, both its fixed and mobile networks have been poweredby green energy generated from sustainable sources. Through long-term agreements and investments in sustainable energy, including its own sustainable energy production with Eneco, KPN is working towards 24/7 use of renewable electricity and further reducing CO₂ emissions.

Sustainability was also put into practice internally. The launch of the KPN travel app makes it easier for colleagues to choose sustainable transportation options and provides them with immediate insight into the impact of their travel behavior via a connected CO₂ dashboard.

KPN once again played a visible role in society. To promote digital and social inclusion, various initiatives were developed with community partners for young people and their parents to combat online exclusion. In addition, KPN, in collaboration with the KPN Mooiste Contact Fonds, provided "extra connection" at major community events such as SAIL . The KPN Mooiste Contact Fonds once again facilitated valuable connections for people who are not automatically able to participate.

General Meeting of Shareholders

The Annual General Meeting of Shareholders will take place on April 15, 2026. The annual figures and progress on the strategy will be presented during this meeting. The full agenda will be published shortly.

The Integrated Annual Report 2025 is available via the interactive website: https://www.annualreport2025.kpn/

Importance of digital resilience

The working visit focused on digital resilience, a topic that has gained urgency in recent years due to geopolitical tensions, increasing cyber threats, and the heavy reliance on digital networks in our economy and society. At the NOC and the SOC, specialized teams continuously monitor KPN's fixed and mobile networks and those of its customers, with the aim of preventing outages and quickly containing incidents. The teams monitor identities, servers, databases, network applications, and websites, among other things, to detect potential cyberattacks in real time.

Minister Karremans (Economic Affairs): “Making the Netherlands more resilient requires preparation. From the government, from people at home, and from businesses. It's good to see, together with the King, how telecom providers are investing in the security and availability of the digital infrastructure in practice. Because in the event of sabotage, extreme weather, or a major outage, it can come under pressure. For example, providers are continuously monitoring to prevent outages and cyberattacks as much as possible. But they are also committed to having temporary internet and communication facilities available in emergency situations. This way, we are building a Netherlands that remains digitally strong, even in crisis situations.”

"The digital security of the Netherlands cannot be taken for granted. As the manager of a large part of the country's digital infrastructure, we take that responsibility very seriously: 24 hours a day, all year round. We protect the networks and digital connections that our country runs on, in close collaboration with the government and partners in the supply chain. Because our country's digital resilience depends on this collective effort," says KPN CEO Joost Farwerck.

Collaboration in incidents

The King and the Minister spoke with staff about the daily practice of network and security monitoring. Using concrete examples, they gained insight into how suspicious activity is identified, how collaboration with government and other partners is organized, and how incidents are escalated.

Afterwards, visitors were given a demonstration by VodafoneZiggo of the Vodafone Foundation's "Instant Network." This mobile emergency communications service is used worldwide during disasters to quickly restore connections between aid workers, citizens, and government agencies when regular networks are down.

During this visit, we were able to demonstrate how the resilience of our networks works in practice. Our teams monitor the networks daily to identify anomalies early and intervene before users notice them. Resilience isn't a single measure, but a holistic approach: multiple layers of security, continuous monitoring, and adequate and proactive follow-up," explains KPN CISO Vladimir Cibic.

The working visit concluded with a roundtable discussion with representatives from the entire digital infrastructure chain, including data centers, internet exchanges, and submarine cable providers. This chain functions as an ecosystem, the reliability of which depends on mutual collaboration. As the manager of a large part of the Dutch digital infrastructure – including fixed and mobile networks – and as a partner of the Ministry of Defense, KPN is a key player in this.

Today, KPN has announced the fourth quarter and year results 2025.

Joost Farwerck, CEO, on the results:

“We delivered on our full-year 2025 outlook and are on track to deliver on our mid-term strategic and financial ambitions. Throughout the year, we consistently grew Group service revenues across all segments. In Consumer, we sustained healthy commercial momentum, particularly in broadband, thanks to our focus on loyalty and base management and reinforced our market leadership in both fixed and mobile. Our Business segment delivered another year of growth, outperforming the broader market, while Wholesale continued to grow, mainly driven by international sponsored roaming.

We delivered adjusted EBITDA AL and Free Cash Flow above our upgraded guidance, primarily supported by continued service revenue growth, strict cost discipline, and operational efficiencies. Our transformation programs across all layers are making KPN more agile and efficient.

Together with Glaspoort, we expanded our fiber footprint to nearly six million Dutch households, with an increasing emphasis on connecting and activating homes, reinforcing our position as the Netherlands’ leading fiber provider. We also strengthened our mobile infrastructure through the launch of our tower company, Althio. “Security First” is our motto, and through continuous investments in cybersecurity we further enhance the resilience of our network. We also actively promote simple and effective security solutions for consumers, businesses, and public institutions.

We advanced our sustainability agenda by increasing green energy sourcing and reducing emissions across our operations. These efforts earned us recognition as a Low-Carbon Leader from Sustainalytics, and secured, once again, a place on CDP’s A-list. Our #BetterInternet mission remains central to our purpose: fostering a safer, more social, and greener future for everyone in the Netherlands. We also agreed on a new collective labor agreement for the next 18 months, which contains several valuable employee benefits, and I am happy to see employee engagement remains strong. I want to thank “Team KPN” for their dedication and resilience throughout 2025. Together, we are building a stronger, greener, and more connected future for the Netherlands, and I look forward to making 2026 another great year.

At our Strategy Update in November 2025, we reaffirmed our mid-term 3-3-7 financial ambitions. We aim to sustain healthy service revenue growth in the coming years, supported by our leading positions in Consumer and Business Markets and continued growth in Wholesale. At the same time, we are accelerating our transformation to deliver approximately € 100 million in net indirect Opex savings annually by 2030. By reducing Capex below € 1bn in 2027, we will drive strong cash generation and attractive shareholder returns. We remain committed to returning all Free Cash Flow to our shareholders through a combination of growing dividends and share buybacks. We target 10% dividend per share growth in 2026 and around 25% growth in 2027 compared to 2026, alongside a € 250 million share buyback program in 2026.”

Documents

Please find all the documents regarding the results here: ir.kpn.com.

The Connect, Activate & Grow strategy, launched two years ago, is now at its halfway point. That’s why the telecom company today provided an update on the progress of its key objectives and ambitions for the coming years.

KPN raises fiber ambition and focuses on household connections

KPN is a leader in fiber rollout and already provides nearly 70 percent of Dutch households with a connection. Together with other providers, more than 90 percent of the Netherlands has fiber access. KPN is increasing its target from 80 percent (end of 2026) to 85 percent coverage in the Netherlands and extending the timeline to 2030. For remaining areas, KPN offers high-quality alternatives, supported by 5G applications.

The focus is shifting to actually connecting and activating customers to meet strong demand. Under the motto “Fewer orange sprouts, more green households,” KPN will install fiber connections in meter cupboards over the coming years, enabling more customers to use fiber internet. This network is not only faster and more stable but also more sustainable than the current copper network.

Investing in cybersecurity and digital resilience

Cybersecurity remains a top priority for KPN. CEO Joost Farwerck, also a member of the Cyber Security Council, emphasizes the importance of collaboration between government, industry, and knowledge institutions to keep the digital infrastructure secure and resilient.

KPN is investing hundreds of millions in network resilience and service reliability. This includes infrastructure redundancy, ethical hacking, specialized training, and regular updates to security policies.

To further strengthen the Netherlands’ digital resilience, KPN is working closely with partners and the government to build a sovereign cloud. In cooperation with its high-tech subsidiary NL-ix, KPN is launching innovative services for large companies and organizations. These services enable full control over data, infrastructure, and digital processes, including cloud solutions and applications. With DDoS Protection, attacks are detected and stopped in real time, ensuring mission-critical organizations in the Netherlands are better protected against online threats.

These joint efforts align with KPN’s broader strategy to make cybersecurity more accessible for everyone. Existing and new consumer customers will therefore receive KPN SuperVeilig by default—a combination of a malware filter and antivirus software that enhances online security. Early next year, customers will be able to view their personal security status in a dedicated security center within the MijnKPN app.

Entrepreneurs can also activate an additional security layer free of charge with their fixed services via the KPN network to better protect their business. KPN Extra Veilig Internet is a security service that protects all devices on the KPN network against cyberattacks such as viruses, ransomware, and malware. The service operates through a DNS and web filter that automatically blocks unsafe websites.

Digitalization as a driver of growth and sustainability

The Dutch digital infrastructure—fiber and mobile—is among the best in the world. With growing data traffic, driven by rapid AI adoption and the arrival of quantum technology, demand for fast, stable, and secure connections continues to rise. KPN is responding with ongoing investments in fiber, 5G, and IoT. AI and data applications also play a key role in modernizing services and operations.

#BetterInternet

Through its #BetterInternet mission, KPN continues to promote a safer, more social, and greener internet. Energy consumption has halved over the past ten years, while data traffic has increased 28-fold. Since 2011, KPN’s network has run entirely on green electricity. From 2027, around 60 percent of this electricity will come from sustainable, CO₂-free sources. By 2030, KPN’s vehicle fleet will be fully electric, and employees are encouraged to cycle to work with a reimbursement of €0.40 per kilometer.

Goals and financial insights

During the Strategy Update, KPN presented the progress of its Connect, Activate & Grow strategy and outlined actions and priorities for the coming years. All financial details and further explanations are available.

Today, KPN has announced the third quarter results 2025.

Joost Farwerck, CEO, on the results:

“In the third quarter, Group service revenues continued to grow, with all segments contributing. In Consumer, we maintained solid momentum with a steady inflow of new broadband and postpaid customers, reflecting our ongoing focus on loyalty and base management. As anticipated, Business service revenue growth moderated during the quarter despite solid base growth, primarily due to contract changes in Tailored Solutions. Our Wholesale service revenues continued to grow, mainly driven by growth in our international sponsored roaming business. Through the ongoing strong commitment of Team KPN, we witnessed improved customer satisfaction levels in both Consumer and Business. As guided, in the third quarter our adjusted EBITDA AL was driven by service revenue growth, an IPR benefit and the contribution of Althio, partly offset by the discontinuation of holiday provision recording. As anticipated, our Free Cash Flow rebounded in the third quarter, mainly driven by improved working capital. 

We lead the Dutch fiber market. Together with our Joint Venture Glaspoort, we are making steady progress in connecting homes and activating new fiber lines. Our commitment to providing secure and reliable connectivity for the Dutch society was once again demonstrated by our role in connecting and securing SAIL Amsterdam. Using KPN’s data services hub and technology as a platform, we enabled public and private partners to collaborate seamlessly, sharing live data securely, enabling a secure experience for 2.5 million visitors. 

We remain fully committed to our mission for a #BetterInternet, to foster a safer, more social and greener future for everyone in the Netherlands. In this respect, we launched a nation-wide campaign highlighting the impact of online exclusion, aiming to raise awareness among youngsters, parents, teachers and bystanders and their respective responsibilities. We believe the internet should be a place that connects and empowers people, not one that fosters exclusion or division. 

We are on track with the execution of our Connect, Activate & Grow strategy and remain confident in delivering on our full-year 2025 outlook and mid-term ambition. I look forward to giving you a more detailed update at our strategy update on November 5th.”

Documents

Please find the press release and all other documents regarding the results here: ir.kpn.com.

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.” 
 

Documents

Please find all the documents regarding the results here: ir.kpn.com.

Today, KPN has announced the first quarter results 2025.

Joost Farwerck, CEO, on the results:

"We delivered solid results in the first quarter, and we are well on track with the execution of our strategy. During the quarter, our Consumer service revenues continued to grow, both in the Fixed and Mobile domains. Business service revenues came in strong once again, driven by SME and Tailored Solutions. Adjusted for Youfone, our Wholesale service revenues further improved, mainly driven by the ongoing growth of our international sponsored roaming business.

Driven by these healthy revenue growth developments, we delivered attractive growth in adjusted EBITDA AL. As anticipated, our first quarter Free Cash Flow was impacted by higher tax and interest payments, alongside the phasing of working capital.

The economic and geopolitical environment in which we operate is increasingly volatile and uncertain, however we are confident that the direct impact from US and reciprocal trade tariffs on our operational KPIs and financial results is limited. We keep a close watch on the impact of global trade and economic developments on the Dutch economy and consider our business resilient and demand for our essential connectivity and communication services is expected to remain robust.

We continue to lead the Dutch fiber market with strong delivery of connected homes and activations of new fiber broadband customers. Together with our joint-venture Glaspoort we now cover 64% of the Netherlands with a fiber connection. Our investments in our networks continue to pay off, as we have been recognized as the best mobile network in the Netherlands with the highest score ever measured worldwide, by the global benchmark organization Umlaut.

We remain committed to our mission for a #BetterInternet. Securing our data, networks and systems is crucial to keeping personal information confidential and important data accessible. Therefore, we are providing security licenses for free to our retail base and we enable Dutch businesses in becoming digitally resilient in today’s complex world, supporting them in their digital transformation to work more securely and efficiently.

With the closing of the Althio transaction in mid-February, we have raised our full-year 2025 guidance for adjusted EBITDA AL and Free Cash Flow. We are confidently progressing towards our mid-term objectives as outlined during our Capital Markets Day, including cumulative shareholder distributions. As part of this, a € 250 million share buyback for this year commenced in February.”

Documents

Please find all the documents regarding the results here: ir.kpn.com.

The agenda included a resolution to declare a total dividend over the fiscal year 2024 of € 17.0 cents per ordinary share. As a result, a final dividend of € 10.2 cents per ordinary share will be paid in cash, net of 15% dividend withholding tax, on 28 April 2025. As of 22 April 2025, the shares will trade ex-dividend.

Furthermore, the AGM approved the reappointments of KPN's chair, Mr Gerard van de Aast for a second four-year term, and Ms Jolande Sap for a (final) two-year term, as well as certain amendments to the Articles of Association of the company.

Detailed information about the approved resolutions and other agenda items is now available on the KPN website (ir.kpn.com).

Bart Webers, Director Rewards KPN: We give our colleagues more freedom to decide for themselves how to deal with their vacation leave. The reason for this is that we consider well-being and a healthy work-life balance important. This also requires fewer rules and more autonomy. This naturally goes hand in hand with the responsibility of colleagues for the KPN objectives and the interests of our customers”. This arrangement does not entail unlimited leave. KPN uses a guideline of 27 vacation days. With this initiative, this could mean a few more vacation days one year and a few less the next.

KPN is leading the way with this measure and this initiative fits in well with other innovative employment conditions, such as the attractive repayment of your student debt, forty cents net per kilometer allowance for those who come to work by bike, or a contribution to insulating and making your home more sustainable. KPN thus offers benefits in its collective labor agreement for every generation, appropriate to their phase of life.

During the Mobile World Congress in Barcelona, KPN's mobile network was again named the best in the Netherlands by benchmark organisation umlaut. The network even scored the very highest score worldwide. This independent study annually tests the quality of mobile networks in nine European countries. 
The overall score of 989 points on a 1,000-point scale shows a two-point improvement on last year. This makes it the highest score ever achieved in the history of German Connect Magazine's international benchmark, conducted by umlaut. 

Highest score in coverage and reliability 
Among other things, KPN achieves the maximum number of points in the ‘Voice’ category. This is in line with KPN's ongoing efforts to ensure the best coverage in the Netherlands for its customers. KPN also scores highest in the ‘Reliability’ category. This shows that the service of KPN's mobile network is of a high standard.

Oscars 
Joost Farwerck, CEO of KPN, is delighted with the results: ‘You could compare this to the Oscars for telecom companies. The jury not only looks at the best network technology, but also at the best customer experience. That makes all the difference in a competitive market. For years, KPN has been investing in the very best network experience for customers with fibre and 5G.At a time when we all depend on the quality, speed and security of the internet. With our mission for a #BetterInternet, we are also working towards a greener internet, thanks to further energy reduction, and an internet that is safer and more social. This puts the Netherlands at the absolute top of the digital world.’ 

Best mobile network with best mobile user experience 
KPN is committed every day to connecting its customers with an excellent mobile network and the best mobile user experience. This means being able to make high-quality video calls, stream music, videos and gaming without interruptions anywhere and anytime, and being easily accessible anywhere in the Netherlands. Moreover, KPN is constantly working on constantly improving its services and customer service, such as wider data bundles when combining fixed and mobile services, easily accessible customer service, and the MijnKPN app for easy management of services and sharing of MBs. Winning this leading award again confirms that. This shows that the service of KPN's mobile network is of a high standard. Winning this leading award again confirms that. 

User experiences and technical tests 
Umlaut's test is very comprehensive and technically advanced and consists of driving and walking tests carried out last January.Four driving test cars together covered a total of 6,850 kilometres, visiting 17 cities and 14 towns. In addition, two walking test teams visited eight cities. The test areas represent 5.88 million people, or about 34.2 per cent of the total population of the Netherlands. In addition, this test measured the mobile user experience in terms of voice and data quality, and the performance of popular services such as YouTube and mobile gaming. [Download the research report here] 
 

The Netherlands sustainably connected
Together with Glaspoort, KPN now provides coverage of 63% of Dutch households with fiber. The focus of fiber rollout has shifted in 2024 from installing basic infrastructure in the street to connecting and activating households and businesses. In 2025, KPN will continue with this shift in emphasis on rollout.
Also in the mobile network, great strides have been made again. The network was again voted one of the best in the world. It has also been strengthened by obtaining a frequency package in the 3.5 GHz auction. This makes it possible to enter the next phase of 5G services with more capacity in busy areas, improving the mobile experience for all users of the KPN network.
In 2024, KPN announced a partnership with pension fund ABP in the field of mobile infrastructure. This will place approximately 3,800 mobile transmission masts and roof locations in a new company, called Althio.

Better Internet
2024 was KPN's first full year of the Connect, Activate & Grow strategy, with an emphasis on growth through technological progress and the best digital experience for our customers. KPN took another step forward in its sustainability strategy; from the beginning of 2025, green energy will be purchased from the Kabeljauwbeek solar park for our fixed and mobile networks.

KPN has the ambition to be one of the best employers in the Netherlands. The new collective labor agreement, which was concluded at the beginning of 2024, makes an important contribution to this, for example with a contribution to the repayment of your student debt, a compensation of 40 cents per bicycle kilometer home/work traffic, or a contribution to the sustainability of your home.
By promoting digital and social inclusion, KPN strives to increase mutual cohesion in society. With the KPN Mooiste Contact Fonds, KPN continues its efforts to make contact possible for people for whom this is not self-evident.

General Meeting of Shareholders
On April 16, 2025, KPN will hold its Annual General Meeting of Shareholders, where the 2024 annual results will be discussed. The agenda for this meeting will be published shortly.
The Integrated Annual Report 2024 is available online on the interactive website.

 

Today, KPN has announced the fourth quarter and year results 2024.

Joost Farwerck, CEO, on the results:

“We delivered on our 2024 outlook and continued to make good progress towards our mid-term strategic and financial ambitions. Throughout the year, we consistently grew our Group service revenues. In Consumer, we saw encouraging developments in our postpaid and broadband base, driven by commercial improvements and increased focus on loyalty and base management. Our Business segment recorded another strong year, with organic growth across the board. Adjusted for Youfone, our Wholesale service revenues returned to growth in the second half of the year, primarily due to the success of Mobile. Our commitment towards customer centricity has been paying off, as illustrated by improved trends in customer satisfaction levels in Consumer during the quarter.

We delivered adjusted EBITDA after leases and Free Cash Flow growth slightly above guidance, supported by sustainable service revenue growth and effective measures to partly offset inflationary pressures, clearly demonstrating the success of our Connect, Activate and Grow strategy.

We continue to lead the Dutch fiber market and together with our joint-venture Glaspoort, we now cover 63% of the Netherlands and we see more and more customers benefiting from this next-generation digital infrastructure. To sustain our network leadership position, we further optimized our roll out process and increased our focus on connecting households and activating customers. This approach is delivering tangible results, with strong delivery of Homes Connected and ongoing new fiber broadband net adds.

We believe that strong personal connections support constructive dialogue. That is why we aim to connect everyone to a sustainable future. We are creating a ‘Better Internet’ – responsible, inclusive and sustainable – for all in the Netherlands. We are advancing on our sustainability agenda, by using more fossil-free fuel vehicles, reducing energy consumption, and focusing on scope 3 emissions reduction. In 2025, we started sourcing solar energy from solar farm Kabeljauwbeek, a partnership with Eneco to further support our green electricity goals. I am happy to see employee engagement remains strong and I would like to thank the “Team KPN” for the great contributions in 2024 and I am looking forward to making 2025 a great year together.

The overall progress made in 2024 demonstrates the successful execution of our strategic plan, paving the way for future growth. We are set to maintain solid service revenue and adjusted EBITDA growth, in line with our mid-term 3-3-7 financial ambitions. Over the next three years, we will invest more than €3 billion in our networks and the digitalization of the Netherlands, while delivering a strong return on capital employed. As from 2027 onwards, we foresee a step-down in our Capex, dropping to below € 1.0bn, resulting in a material inflection in our Free Cash Flow and a CAGR of around 7% over the entire 2024-2027 period. Our focus on creating sustainable value enables us to continue to deliver attractive shareholder returns, with dividend per share growing by 7% and a €250 million share buyback in 2025, projecting a 10% increase in total shareholder distributions.”

Documents

Please find all the documents regarding the results here: ir.kpn.com.

Work began in February of last year. Since then, some 88,000 solar panels have been installed southwest of the village of Ossendrecht. The farm, lying between the A4 motorway, the Schelde-Rijnkanaal canal and the Belgian border, became operational just before the turn of the year.

Eneco’s first site to feature both a solar farm and a wind farm, Kabeljauwbeek makes optimal use of the available space and the existing connection to the electrical grid. As wind and sun generally do not occur in large amounts at the same time, this set-up makes better use of the electrical connection and creates more moments when Eneco can supply sustainable electricity.

KPN uses the solar farm’s electricity for its fixed and mobile networks, drawing around 47 gigawatt hours of green solar electricity per year. KPN previously signed a contract with Eneco for electricity from the Ecowende wind farm. Once the realisation of Ecowende is complete, starting in 2027 approximately two thirds of KPN’s electricity will come from sustainable assets.

Today, KPN has announced the third quarter results 2024.

Joost Farwerck, CEO, on the results:

“We continue to execute on our strategy as planned, with healthy financial results in the third quarter. Our Group service revenues showed organic growth across all segments. Consumer service revenues were supported by another quarter of solid base inflow in mobile, partly driven by the launch of our new Kids and Teens proposition in early September. Our fiber broadband revenues showed continued growth, absorbing the challenging competitive environment and the elevated churn in our copper business. Business service revenues came in strong once again, with all segments contributing. Our Wholesale service revenues have returned to growth when adjusted for Youfone, despite a further decline in the broadband base.

To sustain our network leadership position, we continue to invest in our fiber roll out with increasing focus on connecting households. Together with our joint-venture Glaspoort we now cover 62% of the Netherlands. Customer satisfaction remains a priority for us and while our NPS remains leading, we have witnessed some adverse movements recently, which have our full attention.

We remain committed to our ambitious ESG agenda. During the quarter, the Science Based Targets initiative has validated KPN’s near-term and long-term emission reduction targets to reach net-zero by 2040. With a strong foundation built over the past years, we are ready to update our stakeholders on the execution of our ESG strategy at our upcoming ESG webinar on November 26th.

We are confident to deliver on our full-year 2024 outlook and we remain on track to deliver on our mid-term ambitions as outlined during our Capital Markets Day last November.”

Documents

Please find the press release and all other documents regarding the results here: ir.kpn.com.

SBTi validated the following emission reduction targets regarding KPN's sustainability ambitions until 2040:

• In 2030, KPN aims to reduce its absolute scope 1 emissions by 84% and in 2033 its absolute scope 3 emissions by 75.6% compared to 2015.
• KPN is committed to continuing to purchase 100% renewable energy annually (scope 2).
• KPN aims to be net-zero for its total emissions by 2040, including the impact of its suppliers and customers (scope 3).

KPN has been working on #BetterInternet for years , an internet that is not only faster and more stable, but above all safer, more social and greener. As a green provider, KPN is committed to sustainability and reducing its impact on the climate. In 2017, KPN was one of the first companies in the Netherlands to join SBTi, an initiative aimed at enabling organizations to make a substantiated contribution to CO₂ reduction. In recent years, KPN has made great strides forward with long-term agreements for the purchase of renewable energy from wind and sun .

View the validation by SBTi.

Today, KPN has announced the second quarter results 2024.

Joost Farwerck, CEO, on the results:

“We continue to make good progress in the execution of our ‘Connect, Activate & Grow’ strategy. We are on track with our fiber roll out with strong delivery on homes connected. We announced a strategic partnership with ABP to jointly create a leading Tower Company in the Netherlands. This, combined with the newly acquired 3.5GHz spectrum marks an important next step in our strategy and demonstrates our intent to continue to operate the best digital infrastructure in the Netherlands. The quality of our service is reflected in our leading customer satisfaction levels in both Consumer and Business.
 
On 4 April, the acquisition of Youfone was completed, and from that date, Youfone’s financials and operational metrics are included in our financial statements. In the second quarter, our Consumer service revenues continued to grow, supported by another quarter of solid base inflow in mobile and ongoing fiber broadband service revenue growth. The overall broadband market remains challenging though with increased churn in our copper business. Business service revenues showed continued growth, with SME making a strong contribution once again. Within B2B, achieving sustainable inflection in our LCE business remains a priority. As expected, Wholesale declined due to Youfone, a decrease in low-margin interconnect revenues and increased competition in the wider broadband market, but with the current level of fiber roll out and our attractive portfolio, we are confident that performance in Wholesale will improve. 

Employee engagement remains strong, and I thank my colleagues for going all out every day to connect everyone to a sustainable future. We continue to make significant steps on our sustainability agenda. Supporting this, we signed an agreement with Eneco for the purchase of solar energy from the beginning of 2025 and we issued again a Green Hybrid Bond to finance projects that support KPN’s ambitious sustainability targets. Furthermore, we were once again awarded a Platinum medal by EcoVadis as a recognition of our Corporate Social Responsibility Rating. 

We are confident to deliver on our full-year 2024 outlook and we remain on track to deliver on our mid-term ambitions as outlined during our Capital Markets Day, including shareholder distributions. The first step, a € 200 million share buyback for this year has been completed.”

Documents

Please find all the documents regarding the results here: ir.kpn.com.

KPN's Supervisory Board is pleased to announce the nomination of Mr Rob Shuter for appointment to the Supervisory Board.  

Rob Shuter (56) is a seasoned executive who has spent his career in the telecommunications and financial services industries. He was CEO Enterprise at BT between 2021 and 2023, Group CEO of MTN Group (South Africa) from 2017 to 2020, CEO of Vodafone Europe Cluster (2015-2016) and Vodafone Netherlands (2012-2016) and CFO of Vodacom South Africa (2009-2011). Prior to that, Mr. Shuter spent several years in executive roles in the financial services industry. Currently Shuter serves as a non-executive director of Drax Group Plc, Sir Fruit (Pty) Ltd and is member of the board of trustees of the Duke of Edinburgh’s Award. Mr. Shuter holds British and South African nationality.

With his extensive track record in several telecom executive roles and his knowledge of digital transformation in the industry, Mr Shuter is believed to bring valuable knowledge and expertise to the Supervisory Board. The appointment will take effect upon a decision of KPN’s shareholders at an Extraordinary General Meeting of Shareholders that will be called in due course.

Joost Farwerck, CEO KPN: “After the multiband auction in 2020 we have made a great start with 5G via the 700 MHz band, with worldwide recognition for network quality and coverage. The newly acquired 3.5 GHz licenses will increase network capacity and enable higher throughput for our customers to enter the next phase of 5G. The auction outcome allows us to continue offering high-quality mobile services and to develop new and innovative 5G services for our customers, in line with our Connect, Activate & Grow strategy.”

KPN and ABP are already developing the Netherlands’ digital infrastructure by working on the rollout of fiber together. The new partnership will focus on the passive mobile infrastructure, which is an important foundation for the 5G network thanks to an intricate grid of antenna base stations – including transmission masts and rooftop locations throughout the Netherlands. These locations also have space for mobile radio and antenna equipment. The passive infrastructure is one of the reasons why the Dutch mobile internet is among the best in the world and users can call, surf the web, play games and stream videos almost everywhere in the Netherlands.

Joost Farwerck, KPN CEO: “Our mobile network has enabled us to gain a very good position in recent years. We want to maintain and expand our mobile network in the future, to enable us to cope with the growing volume of data traffic – amongst other things. Our new partnership with ABP will improve control and flexibility at many of our mobile infrastructure locations and make the cost model more sustainable. That’s why we are joining forces with ABP and also merging a portfolio of approximately 3,800 transmission mast and rooftop locations throughout the Netherlands to achieve greater impact and synergy benefits.”

Harmen van Wijnen, ABP president of the board: “It’s important for us to invest in the Netherlands, to stimulate economic growth and employment and pave the way for key infrastructure projects. Our partnership with KPN will enable us to strengthen the Dutch mobile networks. The investment will generate an attractive return too, making this partnership significant for our pension participants in a number of respects as well. So, we’re definitely killing two birds with one stone: working on good pensions for our employees and good mobile and digital accessibility here in the Netherlands.”

Because space for transmission masts is at a premium, it has become more difficult for mobile operators to create new base stations in recent years. It can be tricky to replace existing locations when leases end too. Mobile base stations are important for the continuity of the network and the further expansion of mobile capacity, both in busy city centers and in less densely populated areas. So, KPN and ABP will work together to improve management of the passive network, resulting in future-proof use of the locations, harmonization and the simplification of leases. The infrastructure will continue to be available to other operators and the shared use of locations, amongst other things, will make it possible to offer financially-attractive usage and lease conditions.

The infrastructure was previously owned by KPN, NOVEC (owned by TenneT) and Open Tower Company (owned by NOVEC and ABP). The new company will have its own board, which will be responsible for operating the passive infrastructure with its own transmission masts and locations on high-voltage pylons and roofs. ABP is represented in this transaction by its asset manager APG. This announcement is still subject to the approval of the Works Council and the regulator. Click here for more information about the partnership and the associated financial details. The new partnership will not have any consequences for employment.

About KPN
KPN has been the leading supplier of telecommunication and IT services in the Netherlands for many decades. Everyone in the Netherlands uses the KPN network directly or indirectly every day, from the fiber connections in the ground to the card machines in stores or the matrix signs above the freeways. KPN serves consumers and business customers with telephony, data, TV, Internet of Things, cloud, workspace and security services via the nationwide network of the Netherlands, in which KPN is continually investing by laying fiber and rolling out technology such as the new mobile 5G network. KPN has an open network over which other providers also offer services. More information on www.kpn.com

About ABP
Stichting Pensioenfonds ABP (ABP) is the industry pension fund for employers and employees of government and educational institutions in the Netherlands. ABP has 3.1 million participants and 514 billion euros in available assets (as at 31 March 2024).

Eneco started the construction of its largest onshore solar farm in Woensdrecht at the beginning of this year. This solar farm will be built under the five wind turbines of the Kabeljauwbeek wind farm and is expected to be fully operational at the beginning of 2025. KPN will purchase more than 47 GWh (gigawatt hours) of electricity annually. In 2027, more than 200 GWh (gigawatt hours) of electricity will be added from the new Ecowende wind farm, which is being built more than 50 km off the Dutch coast near IJmuiden. In addition, solar panels have been installed on 40 KPN technical buildings in recent years. This means that approximately two-thirds of the electricity that KPN will consume from 2027 will come from sustainable sources.

KPN currently has several short-term green energy contracts. This will be further expanded in the coming years with long-term commitments. The ‘pay as nominated’ mechanism applies to both new contracts for Eneco’s supply of green energy to KPN. In other words, KPN’s purchase must match the volume of electricity sustainably generated by the solar farm and wind farm, buying when there is plenty of sunshine and wind to make the most efficient use of the available green power. If it’s very windy, the electricity will be supplied by the wind farm; on days with less wind, the sun will usually be the main source of energy. The summer months have the most sunshine hours while the winter is the windiest time of the year. Day and night follow a similar pattern: the sun shines during the day but the wind is stronger at night. So, by combining these two sources, KPN can ensure that the amount of generated power equals the amount of consumed power as closely as possible. It means that other sources of energy will be less needed and less often to temporarily meet the demand for energy. This move means that KPN can help make the Netherlands’ electricity production more sustainable.

Joost Farwerck, CEO KPN: “We at KPN have been committed to a better internet for years. This is not only faster and more stable, but also more social, safer and greener. That is why we are making the transition to sustainable energy sources. From next year, a large part of our power needs will come from the new Kabeljauwbeek solar park. Two years later we will add electricity from the Ecowende wind farm that is now being built. In three years' time, almost all our customers will be using the internet via a sustainable and efficient network that we feed with the right power at the right time, via energy from the sun and wind.”

KPN's fixed and mobile networks have been running on green energy since 2011 and KPN's own operations have been climate neutral since 2015. KPN has also taken significant steps to reduce energy in recent years. For example, KPN's absolute energy consumption has fallen by 42% since 2010, while data consumption increased approximately 28x in the same period. KPN wants to save at least an additional 10% until 2030. At the same time, KPN has formulated circular ambitions and set the goal of reducing emissions across the entire value chain to net zero by 2040.

Today, KPN has announced the first quarter results 2024.

Joost Farwerck, CEO, on the results:

“During the first quarter of our Connect, Activate & Grow strategy, we continued to deliver positive results. Group service revenues are growing sustainably, with all segments contributing. Consumer service revenues continued to improve, supported by ongoing fixed and mobile service revenue growth. We saw a healthy customer inflow, both in fixed and mobile, supported by our extensive fiber roll out and by the strong commercial performance of our new speed tiering proposition. Business service revenues continued to grow with SME as the main contributor. As expected, the growth trend in Wholesale levelled off compared to previous quarters, mainly due to a decrease in low-margin interconnect revenues. I appreciate the dedication and perseverance of our people and their commitment to always deliver our customers the best experience, which is illustrated by our leading NPS scores. 

The fiber engine is running at full speed, in line with our ambition to cover ~80% of the Netherlands with fiber by 2026. We further optimized the way we roll out, with strong delivery of homes connected. Our investments in our networks are paying off, as we have been recognized, once again, as the best mobile network in the world by the global benchmark organization Umlaut. 

We remain fully committed to create sustainable long-term value for all our stakeholders. This is clearly reflected in our ambitious ESG agenda, where we focus on creating “A Better Internet”, a safer, more social and greener Internet for everyone in the Netherlands. In this respect, I am pleased that our sustainability achievements and ambitions are recognized and appreciated by Dutch consumers and that KPN has again been chosen by the Sustainable Brand Index as the most sustainable Dutch telecom brand. 

As a result of the Youfone acquisition, we raise our full year 2024 guidance for adjusted EBITDA AL and Free Cash Flow. We remain on track to deliver on our mid-term ambitions as outlined during our Capital Markets Day, including cumulative shareholder distributions.The first step, a 200 million euros share buyback for this year has been nearly completed.” 
 

Documents

Please find all the documents regarding the results here: ir.kpn.com.

The agenda included a resolution to declare a total dividend over the fiscal year 2023 of € 15.0 cents per ordinary share. As a result, a final dividend of € 9.8 cents per ordinary share will be paid in cash, net of 15% dividend withholding tax, on 25 April 2024. As of 19 April 2024, the shares trade ex-dividend.

Furthermore, the AGM decided to adopt the Remuneration policy for the Board of Management and Supervisory Board and appointed PriceWaterhouseCoopers Accountants N.V. as external auditor for the fiscal years 2025 through 2028. In addition, after having informed the AGM of its intention thereof, the Supervisory Board confirmed the reappointments of Mr Farwerck (CEO), Mr Figee (CFO), Ms Garssen (Chief People Officer) and Ms Snoep (Chief Consumer Market) to the Board of Management, for a period of four years, up to and including the AGM to be held in 2028.

Detailed information about the approved resolutions and other agenda items, is now available on the KPN website (ir.kpn.com).

With this acquisition KPN has strengthened its position in the mobile and broadband markets. In the years ahead, the aim for Youfone is to achieve further growth by pursuing the efficient business model that the company has successfully created. The Youfone organization will continue to operate independently within KPN to ensure that the current Youfone customers continue to enjoy the service they have come to expect.

Fast, secure digital connections
Our networks have proved that they are capable of handling the significant growth in data traffic. KPN’s fiber network covers more than half of the Netherlands and we remain determined to meet our target to cover 80 per cent of Dutch households with fiber via KPN and Glaspoort by the end of 2026. We have upgraded all our mobile network sites and are preparing the network for the 3.5 GHz spectrum auction.

KPN further strengthened its position by continuing to invest in the digital infrastructure and in improving the user experience, while at the same time giving priority to security. With a market share of around 40% in the SME segment we play a crucial role in protecting businesses against cybersecurity threats. This fits with our engagement to civil society as a responsible company.

For a Better Internet
KPN wants to retain its leading position in the field of ESG. With our revamped strategy “Connect, Activate & Grow” we have raised the bar and set ambitious targets. In the years ahead KPN will launch new initiatives and will make cybersecurity an integral part of its ESG policy. under the motto Better Internet: safer, greener and more socially aware.

By fostering digital and social inclusion we aim to improve society. Through the KPN Mooiste Contact Fonds KPN is continuing its efforts to reduce the digital divide for those who are not easily able to participate in society.

To minimize our footprint, we actively pursue a greener future by focusing on energy efficiency and circularity. And we help customers become more sustainable through hybrid working, digitalization and smart, mostly cloud-based, solutions.

By 2027, KPN customers will use the internet via a sustainable, efficient network powered by green energy, most of which will be generated by a new wind farm off the Dutch coast. By 2030, KPN’s actual electricity consumption is planned to halve in comparison with that of 2010. Additionally, KPN has the ambition to realize net zero emissions in the value chain by the end of 2040.

Annual General Meeting of Shareholders
On April 17, 2024, KPN will hold its Annual General Meeting of Shareholders, at which the Integrated Annual Report 2023 will be discussed. As well as the annual results, the agenda, which will be published soon, includes the proposed reappointment of four members of the Board of Management.

The Integrated Annual Report 2023 is available online on the interactive website Annualreport2023.kpn. By means of QR codes, readers of the report can share their views on topics that impact KPN and society.

This is the outcome of the annual network test of the German Connect Magazine, carried out by benchmark organization Umlaut. The overall score of 987 points on a scale of 1000 points is an improvement compared to last year. In addition to various user tests, the research is based on technical network measurements. The quality of the mobile network has been measured in various locations in the Netherlands, such as in all large and medium-sized cities, on highways and provincial roads and from public transport and more remote places.

This test also measures the mobile user experience in terms of voice and data quality and the performance of popular services such as YouTube and mobile gaming. Taken together, all these measurements form a good picture of reality. The good news; There is no other country in the world where the mobile network has been tested as well as in the Netherlands. KPN scores best in all categories such as 'voice quality', 'data', 'crowd' and 'reliability'.

The Umlaut/Connect test report states: “Congratulations to KPN for once again winning this test in the highly competitive Dutch market. KPN wins with the highest score achieved so far in our international benchmarks for mobile networks. KPN managed to further improve its network compared to last year with strong performance in the field of voice and data. KPN also scores best in user tests from customers (crowd) of the various mobile providers and KPN also scores very well on reliability.”

Joost Farwerck, CEO KPN is pleased with the results: “We are doing everything we can to ensure the best mobile experience for our customers. It is therefore great that we have won this renowned test. It is also particularly good news for the Netherlands, which scores high as a digital economy and is on its way to becoming the best connected country in the world, partly due to its excellent digital infrastructure. Telecom networks are an important driver for further digitalization and the good Dutch starting point will further improve in the coming years. After all, the rollout of fiber is in full swing and the fast 5G spectrum will soon be auctioned.”

Best mobile network with best mobile user experience
Every day, KPN does everything it can to connect its customers with a rock-solid mobile network and the best mobile user experience. This means you can always make high-quality video calls at home or on the road, stream music and videos without interruptions and can be reached everywhere and anytime by mobile phone. In addition, excellent customer service for our mobile customers is equally important. For example, larger data bundles when you combine fixed and mobile, easy accessible customer service and the MyKPN app where customers can easily arrange everything themselves.

The consortium of telecom providers (KPN, VodafoneZiggo, Odido and DeltaFiber), which wants to get the chance to bid for or negotiate the collective broadcasting rights of the Eredivisie, is very disappointed by the ACM’s preliminary opinion that it sees no reason to intervene. In the view of the consortium and its legal advisers this opinion is inconsistent with European and Dutch competition law. Furthermore, awarding the broadcasting rights directly through a behind-the scenes process is at odds with common practice in all the main European footballing countries, where football rights are sold through a public bidding procedure.

The consortium takes a different view from the ACM with regard to the legal assessment of its enforcement request, but is not pursuing this judicial procedure. This is because too much time has elapsed for a negotiated agreement to be reached in good time after any objection and appeal procedures by the consortium and potentially by other parties. The consortium is, however, keeping the door open to the clubs, especially in the light of the uncertainties that have been plaguing the parent company of ESPN and Disney, which could jeopardize implementation of the negotiated contract. It also seems that no contract has yet been signed between the clubs, the ECV and ESPN/Disney.

Consortium’s bid is better
The consortium’s guaranteed bid of 180 million euros net is still on the table and will remain there. That sum goes directly to the clubs. And no other costs are deducted from it, as the ECV alleges. So the “hidden costs” referred to by the ECV do not exist. Moreover, this bid is an initial opening bid that the consortium would like to discuss with the ECV and the clubs. Below the line, the difference between the consortium’s final bid and the result of negotiations with Disney could amount, over the course of five years, to more than 100 million euros in favor of the consortium’s bid.

The consortium deplores the fact that the ECV has so far refused to enter into serious talks about the initial bid. “We want to sit down with the ECV and the clubs but we haven’t yet been offered the opportunity, even though the ECV says we have. Negotiating with several bidders only serves to improve the chances of a good deal for the clubs and that is in the interest of Dutch football as a whole,” says a spokesperson for the consortium.

The content of the bid
A joint venture will be established in collaboration with the clubs to exploit all collective rights. The consortium intends to sit down with the clubs to discuss how to deal with all the other revenue from the collective rights. The costs can be discussed at that time as well, along with the influence of clubs on decisions relating to revenue over and above the guaranteed sum of 180 million per year.

On the basis of realistic market forecasts, the total amount that goes to the clubs will be substantially in excess of the guaranteed 180 million euros. In addition, the clubs will have greater freedom to exploit their own image rights, including through their own online channels, which will allow them to generate additional revenue and strengthen their relationship with their fans. The consortium also plans to invest in commercial opportunities at the cutting edge of media and mobile telephony and guarantees that all the matches of the KKD and the Azerion Women’s League will be broadcast live as well. A further guarantee that has been given is that the quality of recordings and broadcasts will be as good as or better than they are at present and the staff that are currently involved will almost certainly be deployed again.

“We are extremely doubtful that Disney’s negotiated proposal is anywhere near what our consortium is offering as an opening bid for further negotiation with the clubs and the ECV,” the spokesperson concludes.

Today, KPN has announced the fourth quarter and year results 2023.

Joost Farwerck, CEO, on the results:

“We delivered on our 2023 outlook and ambitions. Group service revenues are growing sustainably, with growth across all segments. Throughout the year, Consumer service revenues continued to improve, driven by ongoing mobile service revenue growth and solid broadband base growth. Business service revenues continued to grow with SME as the main contributor, as well as another year of growth in Wholesale. We delivered EBITDA and Free Cash Flow slightly above, guidance, supported by sustainable service revenue growth and effective measures to partly offset inflationary headwinds. The commitment shown by all colleagues towards customer centricity continues to pay off, as illustrated by NPS improvements in both Consumer and Business.

We remain on track with our fiber roll out and we added a record number of households to our fiber footprint this year. As a result of this, we have seen broadband base growth over 2023 across all segments. The significant investments we make in our networks and services are bearing fruit. We are on track with the decommissioning of our copper network in fiber areas with about 3 million copper lines decommissioned by year end 2023, making super-fast internet via fiber the norm.

Employee engagement remains strong, as our colleagues continue to express their pride to work at KPN. We recently agreed on a new collective labor agreement for the coming two years, which contains several innovative and valuable employee benefit components. We remain fully committed to creating sustainable long-term value for all our stakeholders. This is clearly reflected in our ambitious ESG agenda, where we focus on creating “A Better Internet”, a safer, more social and greener internet for everyone in the Netherlands.

At our Capital Markets Day in November 2023, we announced our Connect, Activate & Grow strategy for the 2024-2027 period. We aim to maintain service revenue growth at a healthy level in the coming years, supported by enhancing our leading positions in Consumer and Business, and continued growth in Wholesale. We will take significant steps to further modernize our operating model, leveraging the power of automation and AI. We expect adjusted EBITDA to accelerate from the current run-rate and grow in line with service revenue growth as per our 3-3-7 financial ambition. We reiterate this guidance for the coming years, on the back of our solid business momentum.

Over the coming four years, we will invest more than €4.5bn in our networks and the digitalization of the Netherlands, whilst delivering a growing return on capital employed. Capex will remain stable until 2026, after which we expect a significant step-down, resulting in a material inflection of our Free Cash Flow. Our focus on creating sustainable value enables us to continue to deliver attractive shareholder returns, and distribute our Free Cash Flow to our shareholders.”

Documents

Please find all the documents regarding the results here: ir.kpn.com.

CGN director Alie Hut: “Since 2013, volunteers from the cooperative have worked extremely hard to get the network built. The acquisition by KPN was the logical next step and ensures that our members can enjoy fast internet in the future. We have thereby achieved our goal. KPN, with its knowledge and expertise, is better able to manage and maintain the fiber network well in the future. That's why we are happy to transfer it."

Joost Steltenpool, director KPN Network, adds: "KPN is rapidly modernizing its existing copper networks by replacing them with fiber networks. As a result, we can provide our customers with high-speed internet and keep the Netherlands in the forefront of digitalization. Whenever possible, we do this with others. The merger with CGN is a tremendous expansion of our fiber network."

The CGN network is and will remain an open network, accessible to various telecom providers. Nothing changes for the connected consumers and companies that are also the members of the cooperative: the current subscription for phone, internet and TV continues. KPN will also start offering services on the network in 2024. The parties will not disclose any financial details.

This acquisition is in line with KPN's aim to cover approximately 80% of the Netherlands with fiber together with Glaspoort by the end of 2026. Fiber is essential for providing high-speed internet, which is of great importance for consumers, businesses and society.

Following completion of the acquisition, KPN will add Kabeltex' fiber networks to its existing offering of wholesale services for fiber. This allows a wide range of market parties to be active on these networks, giving end users a broad choice of various providers and suppliers. Financial details are not disclosed. 

Message from the CEO, Joost Farwerck 

“We have delivered on the main ambitions of our Accelerate to Grow strategy launched end-2020. Our top line has returned to sustainable growth across all segments and the fiber roll out has progressed according to plan, further accelerated by our JV Glaspoort. I am proud of our people and grateful for their commitment to realize these ambitions. In the coming years, we will finish what we started and realize a fiber footprint of about 80% of the Netherlands by end-2026. 

With our Connect, Activate & Grow strategy we go all out to connect everyone in the Netherlands to a sustainable future and create long-term value for all stakeholders. The initiatives to be a Responsible, Inclusive and Sustainable telco are fully embedded in our strategy and operating model. We have broadened the scope of our ESG approach. Our strategy leads to a telco that is delivering revenue growth, EBITDA growth, Free Cash Flow growth and an expanding return on capital.

We are aiming to maintain service revenue growth at a healthy level in the coming years. This will be supported by enhancing our leading positions in Consumer and Business, and continued growth in Wholesale. In Consumer, we will emphasize our focus on base management and customer loyalty through our Household 3.0 approach. In Business, we will leverage our platforms, portfolio and distribution channels to drive growth and increase our share of wallet. 

We will take significant steps to further modernize our operating model, leveraging the power of automation and AI, realizing exceptional service experience and driving substantial savings in indirect costs. We expect adjusted EBITDA after leases to accelerate from our current run rate and grow in line with service revenue growth. In the coming years, we will invest more than € 4.5bn in our networks and the digitalization of the Netherlands whilst delivering a growing return on capital employed. Capex will remain stable until 2026, after which we will see a significant step down, resulting in a material inflection of our Free Cash Flow. 

Our focus on creating value enables us to continue delivering attractive shareholder returns and we remain committed to our policy of returning all our Free Cash Flow to our shareholders. Effectively this means that we will distribute € 3.8bn to our shareholders over the next four years, with a higher portion of that coming from dividends.”

More information: 
For more information about Connect, Activate & Grow, the press release, KPN's expectations and financial ambitions for the coming years, visit ir.kpn.com

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.”

Documents

Please find the press release and all other documents regarding the results here: ir.kpn.com.

With the nomination to reappoint Joost Farwerck as CEO, Chris Figee as CFO, Hilde Garssen as Chief People Officer and Marieke Snoep as Chief Consumer Market the Supervisory Board acknowledges their strong leadership and performance in the current term of appointment. Furthermore the Supervisory Board is convinced that the implementation of the strategy and the interests of the company and its stakeholders benefit from continuity in the Board of Management. KPN recently appointed two new board members, Chantal Vergouw as Chief Business Market and Wouter Stammeijer as Chief Operating Officer. With the intended reappointments, KPN's Board of Management is well positioned for the next phase of the company’s strategy.

Gerard van de Aast, Chairman of the Supervisory Board: “Joost as CEO of the company has shown to be very capable of setting and implementing the company’s strategy. Under his leadership, in close cooperation with Chris, Hilde and Marieke, KPN returned to sustainable growth. In addition, KPN is recognized as a sustainability leader and successfully focused on value creation for all our stakeholders. We are therefore pleased that this team will continue their work for KPN.”

Joost Farwerck, CEO of KPN: "I look forward to continue my role as CEO of our fantastic company which is at the heart of society. We have a dedicated and diverse Board of Management in place and I am excited to continue to work with this team and all our colleagues to successfully execute on the next leg of our strategy.”

During the Annual General Meeting of Shareholders (AGM), to be held on April 17, 2024, shareholders will be informed on the intended reappointments, following which the reappointments can be finalized. KPN's Central Works Council supports the proposed reappointments.

The ACM has been asked to find that the direct award of the broadcasting rights to Disney/ESPN infringes the regulations. Pending this request, the consortium is going to take it for granted that the clubs will not yet make a final decision about the deal allegedly brokered by the ECV with Disney/ESPN. Earlier today, the companies sent a letter to the ECV and the Eredivisie clubs informing them of this.

The ACM can force the clubs, ECV and Disney to engage in a transparent bidding process, in line with its objective: “getting markets to work better for people and businesses.” All the major competitions in the European Union award the football broadcasting rights via a public bidding process. It is up to the ACM to decide whether to intervene on the basis of its own prioritization criteria.

In 2004, the ACM announced that the sale of football rights should take place by following a “transparent and non-discriminatory bidding and award process.” At that time, the ACM also argued that “the method of assessing the bids must be objective, transparent and controllable”.

Steps taken previously by the consortium
After many attempts to have discussions with the clubs, on September 14 the consortium sent a letter to the ECV to try once more to start talks about the future awards of the Eredivisie broadcasting rights. Yet again, the door remained hermetically sealed.

The consortium deplores the fact that the ECV refuses to enter into serious talks about the initial bid. “We can only guess what the reason behind that refusal is. We therefore see no course of action other than approach the ACM. Our preference would be to discuss the matter with the ECV and the clubs, but up to now we have been given no such opportunity. We take it for granted that, pending the enforcement request to the ACM, the clubs will now take no final decisions about the direct award to Disney,” says a spokesperson for the consortium.

The consortium has persistently tried to enter into talks with ECV about the Eredivisie rights. This is because the consortium believes it can present the ECV with a very competitive offer for the Eredivisie broadcasting rights through a formal bidding process, one that is more lucrative for Dutch football clubs and the Dutch public than any other offer currently available. The consortium sent a letter on 3 May 2023 proposing a collaboration with ECV for its collective rights, part of which includes a net fee of 180 million euros per year for the clubs. This is a guaranteed net sum of 180 million euros for distribution among the participating Eredivisie clubs. The distribution of the remaining net rights revenue is to be clarified via a formal bidding proposal. This initial offer was also presented by video to all clubs.

“Several attempts have been made to come to the table with ECV, but without success. Although ECV indicated that it would come back to us when it was opportune for them, ECV continued covert negotiations with Disney. It’s a world turned upside-down that ECV is now giving the impression, through the media, that the consortium has been silent. ECV never entered into further talks with the consortium. Despite our repeated requests, the wishes of ECV, the individual football clubs and any other stakeholders have not been set out in a clear bidding process. Since March 2023, the ECV has not indicated to us in any way that a formal bid would actually be requested or that a bidding process would be initiated. Nor when that would happen”, said a consortium spokesperson. 

The consortium also guarantees the broadcasting of the Keuken Kampioen Division (KKD), the Azerion Women’s Eredivisie and the KNVB Cup. Furthermore, all leagues will be produced and distributed to at least the same current high quality, and the consortium will give a 100% distribution guarantee for matches and plans to invest more in women’s football and the KKD. In addition, the rights can be sold to OTT parties, allowing for other audiences and revenues to be reached. The consortium also has a preference for the production to continue in the current way of working with the existing companies and people.

In 2004, the ACM communicated that the sale of football rights should take place by following a “public, transparent and non-discriminatory bidding process”. Under competition law, the same applies to other national leagues in the European Union. Why ECV is not currently taking this route is puzzling. After all, a public bidding process arguably leads to multiple interested bidders and higher prices for rights holders.

Important step
KPN had its 2022 business audited, which resulted in the aspirant status. Joëlla van der Windt: “We want to be a diverse and inclusive company. PSO certification is great recognition of our efforts. I am proud to have achieved aspirant status and see that there is still plenty of work to be done to achieve the next rung on the ladder.’’ Within two years, we want to grow towards the next step’’.

Social Entrepreneurship 
KPN attaches great importance to creating (more) employment opportunities for people who are at a distance from the labor market. Since 2015, for instance, KPN Customer Service has been recognized as a work-training company and, every year, 20 people with a vulnerable position in the labor market are trained under the Social Entrepreneurship program.

More is needed to reach the next rung on the ladder
That’s why, in the coming period, KPN will further investigate which jobs we can place people from this target group in. This will include looking at making workplaces suitable and setting up supervision for these colleagues.  

Photo from left to right: Stefan Twigt, Ronald Nieuwenhuis, Joella van der Wind and Jan Theo Hoefakker are happy to receive the PSO certificate.

Today, KPN has announced the second quarter results 2023.

Joost Farwerck, CEO, on the results:

“We continue to make good progress with our Accelerate to Grow strategy. Group service revenues are growing sustainably, with growth across all segments. Our commitment to customers is to deliver the best connectivity. This is also reflected by continued positive and best-in-class customer satisfaction levels in both Consumer and Business. To sustain our network leadership position, we are on-track with our accelerated fiber roll out and continue to decommission our copper network in fiber areas.

During the second quarter, our Business service revenues showed continued growth, with SME making a strong contribution once again. Consumer service revenues inflected to growth, driven by ongoing mobile service revenue growth, and improving trends in fixed. We saw encouraging base developments across the board, driven by commercial improvements and strong execution. Wholesale made a solid contribution, thanks to our open wholesale policy.

In the second quarter, we announced the acquisitions of Primevest and Youfone. While Primevest strengthens our fiber footprint in larger cities, the intended acquisition of Youfone will strengthen our positioning, especially in the mobile no-frills segment.

Employee engagement remains at an elevated level, as our colleagues continue to express their pride to work at KPN. We continue to make progress on our sustainability agenda. Supporting this, we have recently launched initiatives to promote the use of bicycles for our employees. Furthermore, I am pleased to share KPN has been recognized by MCSI, for the third year in a row, with an industry leading ESG rating of AAA.

Despite increasing costs, driven by wage indexation and higher energy prices, the sustainable service revenue growth run-rate, our robust current performance and among others, the measures we have put in place to reduce costs, provide us with confidence to deliver on our full year outlook. As we reach the end of the current strategic period, we look forward to sharing a strategy update at our Capital Markets Day on the 7th of November.”

Documents

Please find all the documents regarding the results here: ir.kpn.com.

Youfone is a fast-growing and challenging telecom operator with a distinctive brand that KPN is pleased to add to its portfolio, alongside its other brands such as XS4ALL, Solcon and Simyo. With this acquisition, KPN materially strengthens its position in the mobile and broadband markets, especially in the faster-growing no-frills segments.

KPN and Youfone expect to achieve further growth in the coming years by continuing the efficient operating model that Youfone has been able to successfully implement. The Youfone organization will continue to operate independently within KPN to ensure that current and future Youfone customers continue to be served in the way they are used to.

The transaction, which amounts to ~€ 200m in value, is subject to customary closing conditions, including competition authority approval.

Wouter Stammeijer, Chief Technology & Digital Officer and member of the Board of Management of KPN: “The acquisition of Primevest’s fiber network is a welcome addition to our existing fiber footprint, which totals 4 million households. We’ve been making strong progress with our fiber roll out, which is at the heart of our strategy. In the next few years we will be fully focused to complete this project.”

KPN rolls out fiber throughout the Netherlands and is also the largest provider of fiber services in the larger cities. This acquisition further strengthens that leading position. KPN’s fiber offering delivers the best customer experience on the most modern, sustainable and future-proof network.

KPN has an open access network through which wholesale providers can offer their services.

The transaction is expected to close by the end of June 2023. Financial details of the transaction are not disclosed.

Today, KPN has announced the first quarter results 2023.

Joost Farwerck, CEO, on the results:

“We’ve made good progress with our Accelerate to Grow strategy over the last two years. In the first quarter we continued with the solid execution of our ambitious strategy.

Our Group service revenues continued to grow, mainly supported by the Business segment and Consumer Mobile. Business service revenues grew for the fourth quarter in row. Consumer mobile service revenues continued to grow, partly offsetting the competitive dynamics in fixed, where we observed gradual improvements during the quarter. Thanks to the efforts of all colleagues and our investments in the quality and reliability of our digital services, customer experience and NPS are improving again.

The significant investments we make in our networks and services are paying off. Both our fixed and mobile network were tested best-in-class. Moreover, KPN was also recognized as the best ‘all-in-1 provider’ of the Netherlands, both on fiber (1st place) and copper (2nd place), demonstrating the qualities of our service. Alongside our best-in-class mobile network we are on track with our fiber roll out. Moreover, we recently started to decommission our copper network in fiber areas, making super-fast internet via fiber the norm, resulting in significant quality improvements and spend savings going forward.

I am pleased that our sustainability achievements and ambitions are recognized and appreciated by Dutch consumers and that KPN has again been chosen by the Sustainable Brand Index as the most sustainable Dutch telecom brand.

We also announced the appointments of two new members of the Board of Management. With the intended appointments we ensure that we can continue to successfully execute our ambitious Accelerate to Grow strategy for which we will present the next chapter to the markets later this year, during our next Capital Markets Day.

Finally, despite relatively high wage indexation and rising energy and lease costs affecting our cost levels, the sustainable service revenue growth run-rate and measures we have put in place provide us with confidence in our ability to return to EBITDA growth during the year and therefore confidently reiterate our outlook.” 

Documents

Please find all the documents regarding the results here: ir.kpn.com.

The meeting is scheduled to appoint Ms Marga de Jager to the Supervisory Board of KPN. On 3 April 2023, KPN announced its intention to appoint Ms De Jager to succeed Ms Chantal Vergouw who will step down as member of the Supervisory Board. 

During this EGM, the Supervisory Board will also inform shareholders about the intended appointments of Ms Vergouw as the new Chief Business Market (B2B) and Mr Wouter Stammeijer as the new Chief Technology & Digital Officer (TDO) to KPN’s Board of Management, as communicated through a press release on 27 March 2023. 

The full agenda of the EGM and the accompanying documentation are now available on the KPN website.

The television rights are currently operated by Eredivisie CV and a foreign party. A detailed and substantive proposal is now on the table to bring full utilization of those rights back to the Netherlands. Taken together, the Dutch TV providers have the reach to bring Eredivisie football to every Dutch household. This proposal will ensure that professional Dutch football continues to be accessible to everyone, as well as create a win-win situation for football fans, clubs, and Dutch TV providers.

The proposal was submitted to the ECV Executive Board today for consideration in the coming period, in consultation with the 18 Eredivisie clubs. A key aspect of the proposal is that the TV providers will not demand exclusivity. Further details and amounts will not be disclosed. The telecom parties are acting in accordance with applicable competition rules. The ACM was notified of the initiative at an early stage and will be involved as and when appropriate. 

The agenda included a resolution to declare a total dividend over the fiscal year 2022 of € 14.3 cents per ordinary share. As a result, a final dividend of € 9.5 cents per ordinary share will be paid in cash, net of 15% dividend withholding tax, on 19 April 2023. As of 14 April 2023, the shares trade ex-dividend.

Furthermore, the AGM decided to reappoint Ms Jolande Sap and appoint Mr Ben Noteboom, Mr Frank Heemskerk and Mr Herman Dijkhuizen as members of the Supervisory Board.

Detailed information about the approved resolutions and other agenda items, is now available on the KPN website (ir.kpn.com).

KPN's Supervisory Board is pleased to announce the nomination of Ms Marga de Jager for appointment to the Supervisory Board. Marga de Jager will succeed Chantal Vergouw who recently has been nominated as a member of the Board of Management responsible for Business Market.

Marga de Jager (54, Dutch) is a seasoned executive with broad experience in the private and public domain. She is currently CEO of ANWB, the Royal Dutch Touring Association, which consists of more than 5 million members, providing several services including roadside assistance. Previously she was director of ANWB’s emergency center and responsible for marketing and sales of the consumer and B2B divisions for roadside assistance. Before joining the ANWB, she worked in several commercial positions at Leaseplan. Ms De Jager chairs the Supervisory Board of ANWB’s insurance company Unigarant, as well as the Mobility Alliance. She is a member of the Advisory Board at the Dutch Cancer Society (KWF).

The appointment of Marga de Jager will take effect upon a decision of KPN’s shareholders at an Extraordinary General Meeting of Shareholders (“EGM”) that will be called in due course. During this EGM shareholders will also be informed about the intended appointments of Chantal Vergouw and Wouter Stammeijer to KPN’s Board of Management.