KPN sales drop 5.4% in Q3

28 Oct 2020

The Netherlands’ KPN reported that its adjusted revenues fell 5.4% year-on-year to EUR1.299 billion (USD1.535 billion) in Q3 2020, while adjusted EBITDA dropped only slightly, by 0.1%, to EUR598 million, as the carrier said that the effects of lower revenues were offset by strong and disciplined cost control. Operating profit plunged 44% y-o-y to EUR240 million, however, and net profit was 58% less than the year-ago quarter, at EUR132 million. KPN spent EUR286 million CAPEX in July-September 2020, 9.3% more than in 3Q19, driven by accelerated fibre-to-the-home (FTTH) rollout – adding 73,000 FTTH homes-passed in 3Q20 – and mobile network modernisation (upgrading 720 mobile sites in three months).

Certain consumer net addition statistics improved quarter-on-quarter for KPN in Q3, with 27,000 fibre customer additions, compared to 17,000 in Q2, although total consumer broadband connections fell by 4,000 (-3,000 in Q2). It added 9,000 net consumer post-paid mobile users in the three-month period (Q2: -1,000). It also reported its business customer migration programme as ‘on track’, with 86% of ‘eligible’ SME and 75% of eligible large enterprise customers having migrated from traditional fixed voice and legacy broadband services.

Netherlands, KPN