KPN Backs FY20 Adj. EBITDA AL View; Sees Growth In FY21, FY23 - Quick Facts

Dutch telecom firm Royal KPN NV (KKPNY.PK,KPN) Tuesday said it continues to expect fiscal 2020 adjusted EBITDA after leases of approximately 2.32 billion euros, and free cash flow of approximately 750 million euros.

KPN still expects to pay a regular dividend per share of 13.0 euro cents in respect of 2020.

Further, the company issued a new outlook for fiscal 2021, expecting growth in adjusted EBITDA after leases, and free cash flow of approximately 750 million euros.

The company expects total service revenues in Consumer, SME and Wholesale to return to growth by end 2021.

For fiscal 2023, adjusted EBITDA after leases of is projected to be 2.45 billion euros, and free cash flow of approximately 870 million euros.

The company expects next wave of simplification and digitalization to deliver additional cost savings of at least 250 million euros in 2021-2023.

KPN expects to pay progressive dividend in fiscal 2021 and 2023, with 3 percent to 5 percent growth.

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