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KPN Q1 Profit Falls; Confirms 2012 Forecast - Quick Facts

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4/24/2012 1:44 AM ET

Dutch telecommunication firm Royal KPN NV (KKPNY.PK, KKPNF.PK) reported first-quarter profit attributable to equity holders of 288 million euros or 0.20 euros per share, lower than 591 million euros or 0.39 euros per share a year ago.

Revenues and other income were down to 3.19 billion euros from 3.24 billion euros in the prior-year quarter. The 1.4% decline was due to a decline in The Netherlands partly offset by increased revenues in Germany, Belgium and iBasis.

The Netherlands showed a revenue decline as a result of the continued difficult market conditions and regulation.

CEO, Eelco Blok, said,

"The overall performance of the KPN Group in the first quarter of the 2012 transition year was according to plan...

In Consumer Mobile, we have made substantial improvements to our propositions and have expanded our distribution footprint. In Consumer Residential, our TV market share increased further and the implementation of the regionalization approach is starting. Results in Germany reflected revenue growth at a good EBITDA margin, while Belgium showed another strong quarter...

..Group profits and cash flow are planned to improve in the second half of 2012, driven by a better performance in our Dutch businesses. Therefore, I confirm the 2012 outlook."

The company noted that 2011 dividend of 0.85 euros per share was approved by AGM.

For fiscal 2012, the company still projects EBITDA, excluding restructuring costs, to amount to 4.7 billion to 4.9 billion euros, while free cash flow is still expected to be between 1.6 billion and 1.8 billion euros. Further, it confirmed its dividend outlook for 2012 at 0.90 euros per share.

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by RTT Staff Writer

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