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KPN Posts Profit In Q4; Sees Stable To Slightly Higher Adj. EBITDA AL In FY20

Dutch telecom firm Royal KPN NV (KKPNY.PK,KPN) reported Wednesday that its fourth-quarter net profit was 84 million euros, compared to loss of 47 million euros a year ago.

Operating profit or EBIT grew 9.2 percent to 202 million euros from 185 million euros last year.

EBITDA improved 4.7 percent to 598 million euros from 571 million euros a year ago. Adjusted EBITDA after leases or AL declined 1.6 percent to 561 million euros. Adjusted EBITDA AL margin was 40.3 percent, up from 39.7 percent last year.

Total revenues declined 1.3 percent to 1.42 billion euros from 1.44 billion euros a year ago. Adjusted revenues fell 3 percent to 1.39 billion euros.

Looking ahead for fiscal 2020, the company projects adjusted EBITDA AL to be stable to slightly growing compared to 2019. Adjusted EBITDA AL was 2.29 billion euros last year, corrected for divestments.

Regarding 2019 - 2021 ambitions, the company projects organic growth in adjusted EBITDA AL.

Further, KPN said it intends to pay a regular dividend per share of 12.5 euro cents in respect of 2019. The final regular dividend of 8.3 euro cents per share is subject to shareholder approval at the Annual General Meeting of Shareholders on April 15.

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