KPN adjusted revenues drop 3.4% in FY 2016; net profit slumps 29%

1 Feb 2017

Dutch telco KPN has reported adjusted revenues of EUR6.780 billion (USD7.276 billion) for the twelve months ended 31 December 2016, representing a decrease of 3.4% on an annualised basis, down from EUR7.018 billion in 2015. Adjusted EBITDA for 2016 increased by 0.4%, from EUR2.419 billion in 2015 to EUR2.428 billion, while net profit for the year under review plummeted 29%, from EUR524 million in 2015, to EUR370 million. The telco blamed its weak bottom line on ’higher net finance expenses ’. Annual CAPEX was reduced from EUR1.300 billion in 2015 to EUR1.193 billion in 2016.

In operational terms, KPN reported a total of 5.277 million ‘Consumer Mobile’ customers at end-2016, up 0.5% from 5.249 million at the end of 2015. The firm’s total number of ‘Consumer Residential Households’ stood at 3.620 million at 31 December 2016, down from 3.736 million a year earlier, signalling a change, as more subscribers opted for mobile internet access rather than fixed internet connectivity.

Netherlands, KPN