4 Feb 2015
Netherlands-based KPN has posted revenues of EUR2.105 billion (USD2.395 billion) for the three month period ended 31 December 2014, up 2.1% from EUR2.601 billion in the year-ago period. Meanwhile, revenues for full year 2014 dropped 4.6% on an annualised basis, from EUR8.472 billion to EUR8.083 billion. EBITDA for 4Q14 increased 19% from EUR581 million to EUR691 million y-o-y, while operating profit more than doubled, from EUR98 million to EUR218 million. CAPEX in 4Q14 increased from EUR411 million to EUR482 million.
In operational terms, KPN notes that its total 4G Long Term Evolution (LTE) user base exceeded two million at year-end, of which 1.332 million were consumer connections, up from 1.1 million quarter-on-quarter. Business users represented the remaining 733,000 4G accounts.
KPN CEO Eelco Blok commented: ‘2014 was a transformational year for KPN in which we made good strategic progress. Following the sale of E-Plus we acquired the remaining stake in the fibre-to-the-home (FTTH) joint venture Reggefiber, further strengthening our position in the Netherlands … The attractive 20.5% stake in Telefonica Deutschland provides additional flexibility and upside via potential dividends … Supported by the excellent operational momentum we have seen a stabilising financial performance through successive quarters of 2014.’