Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  KONINKLIJKE KPN    KPN   NL0000009082

News SummaryMost relevantAll newsSector news 

KPN KON : Annual Results 2012

02/06/2013 | 06:57am US/Eastern

Den Haag, 5-2-13

Aligning financial position with strategy


2012 performance
• Mixed performances across the Group
• Stabilizing domestic market positions, strong growth in TV
• Highly valuable spectrum acquired in The Netherlands
• Financial outlook largely achieved, supported by asset disposals
Strategic review
• The Netherlands expected to stabilize towards 2014
• Next phase German strategy; service revenue growth expected at lower margin
• EUR 4bn rights issue supporting financial position and strategic flexibility
• Revised strategic market objectives

Message from the CEO, Eelco Blok
"In 2012, KPN continued to face a challenging environment. The adverse macro-economic conditions continued to weigh on consumer confidence and on the investment plans of our business customers. Moreover, competition intensified in our mobile markets. The financial performance of our businesses in 2012 was largely within the outlook ranges, though supported by asset disposals and somewhat below our expectations at the start of the year. Operationally, we have made good progress in executing our strategy by taking steps to stabilize our domestic market positions; however we have seen a slow-down in revenue growth in Germany.

We are experiencing lower underlying profitability in each of our three main markets. Partly, this is a result of the sustained pressures described above. However, it additionally reflects the costs of positioning ourselves for the future by implementing our operational strategy - investments in customer acquisition and service, network and IT costs, and strategic investments including spectrum and fiber. In The Netherlands, we are approaching a new balance between a focus on market positions and achieving stable performance. In Germany and Belgium, the next phases in our Challenger strategy are being implemented to fuel underlying growth in 2013 and beyond.

In order to execute on our strategy and position KPN for future growth, we need to strengthen the balance sheet. In recent years, KPN's financial position has been impacted by rising debt levels combined with increased commercial investments. The EUR 4bn rights issue announced today and our earlier announcements of a lower dividend outlook will support our financial position in the coming years."

Press Release for download here: www.kpn.com/results.htm

distributed by
React to this article
Latest news on KONINKLIJKE KPN
11/27 KONINKLIJKE KPN : KPN sells 150 million shares in Telefónica Deutschland for tot..
11/27 KONINKLIJKE KPN : KPN announces sale of part of its stake in Telefónica Deutschl..
11/27 KPN : Movil-appointed board member leaving as Movil to sell stake
11/27 KONINKLIJKE KPN : KPN introduceert vandaag een nieuw netwerk dat essentieel is o..
11/10DJKPN To Sell Some of Telefonica Deutschland Stake
10/26 KONINKLIJKE KPN : BASE Company settles procedures against Proximus
10/22DJJOHN MALONE : Malone's Liberty Global in Talks to Buy Cable & Wireless
10/05DJEU Opens Probe Into Liberty Global-BASE Deal
09/15 KONINKLIJKE KPN N.V. : ex-dividend day for interim dividend
09/10 KONINKLIJKE KPN : Publication third quarter results 2016
News chart
Full-screen chart
Income Statement Evolution
More Financials