KPN’s 2017 revenues fall 4.5%

31 Jan 2018

Dutch quadruple-play operator KPN has posted a 4.5% drop in annual revenues for 2017, to EUR6.498 billion (USD8.053 billion), including EUR5.878 billion (down 2.5%) in the Netherlands. EBITDA fell 5.1% to EUR2.306 billion in FY 2017, and twelve-month operating profit (EBIT) decreased slightly (by 0.2%) to EUR882 million as lower EBITDA was largely offset by lower amortisation charges. Yearly CAPEX decreased 4.5% to EUR1.139 billion, mainly due to lower fixed network investments, benefitting from elevated investments in recent years. Net profit for the full year increased by EUR115 million to EUR485million, mainly driven by EUR176 million lower net finance expenses in 2017.

In its Consumer segment, KPN added 7,000 fixed broadband and 21,000 IPTV customers in the Netherlands in Q4 2017, whilst ARPU per household grew 4.8% y-o-y to EUR44. In Consumer mobile services, Dutch post-paid net subscriber adds for the KPN brand stood at 8,000 in October-December 2017, although no-frills (budget) mobile brands on the KPN network remained under competitive pressure, resulting in the operator’s total reported Consumer post-paid mobile base declining by 9,000 in the quarter. Post-paid Consumer mobile ARPU declined 7.7% y-o-y in Q4 to EUR24 due to the effects of regulation and an ongoing shift towards SIM-only services. The number of KPN fixed-plus-mobile subscribing households grew by 64,000 in the quarter to 1.253 million, equivalent to 42% of the Consumer fixed broadband customer base (Q4 2016: 37%).

Netherlands, KPN