Royal KPN N.V.

Koninklijke KPN is an integrated information and communications technology service provider. Co. provides its consumer customers data broadband services, IPTV services, mobile (voice, data and SMS) and fixed line telephony. Co. provides its business customers broadband services, mobile, fixed line and data services. Co. operates in the following segments: Consumer Mobile, which provides mobile services and products; Consumer Residential, which provides services in and around the house; Business, which provides fixed and mobile telephony services; NetCo, which includes fixed wholesale services; Belgium, which provides mobile telephony; and iBasis, which provides wholesale network services.
  • TickerKPN
  • ISINNL0000009082
  • ExchangeEuronext Amsterdam
  • SectorFixed Line Telecommunications
  • CountryNetherlands
Alexandre Iatrides

ODDO : Recap on the controversy over the limiting of flat-rate mobile packages

>The Senate and the national digital council (Conseil National du Numérique) advocate capping fixed and mobile flat-rate packages - The Conseil National du Numérique published a 160-page roadmap on the environment and digital containing 50 measures, backed by several points to consider. Among the 11 proposals of measure 7 “Limiting the environmental footprint of network design and deployment, the CNNum proposes “encouraging flat-rate packages with limited consumption,...

Jérôme VINERIER

Short term view - KPN : The trend is uncertain.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. The next resistance is at €2.547.

Jérôme VINERIER

Analyse court terme - KPN : La tendance est incertaine.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. La prochaine résistance est à 2,547 €.

Jérôme VINERIER

Short term view - KPN : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €2.230. The bearish trend would be challenged above €2.547.

Jérôme VINERIER

Analyse court terme - KPN : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 2,230 €. La tendance baissière serait remise en cause au-dessus de 2,547 €.

Jérôme VINERIER

Medium term view - KPN : The bounce is gaining strength.

The background trend is clearly bearish. The bounce is gaining strength. It is too early to qualify this market action as a bullish reversal. The background trend would be questioned should prices rise above €2.541.

Koninklijke Kpn N.V: 1 director bought

A director at Koninklijke Kpn N.V bought 11,000 shares at 2.070EUR and the significance rating of the trade was 61/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of...

Alexandre Iatrides

ODDO : Recap on the controversy over the limiting of flat-rate mobile packages

>The Senate and the national digital council (Conseil National du Numérique) advocate capping fixed and mobile flat-rate packages - The Conseil National du Numérique published a 160-page roadmap on the environment and digital containing 50 measures, backed by several points to consider. Among the 11 proposals of measure 7 “Limiting the environmental footprint of network design and deployment, the CNNum proposes “encouraging flat-rate packages with limited consumption,...

Alexandre Iatrides

ODDO : Retour sur la polémique autour de la limitation des forfaits mobiles

>Le Sénat et le Conseil national du numérique préconisent un plafonnement des forfaits fixes et mobiles - Le Conseil National du Numérique a publié une feuille de route sur l’environnement et le numérique de 160 pages comprenant 50 mesures, elles-mêmes étayées par plusieurs pistes de réflexions. Parmi les 11 propositions de la mesure 7 « Limiter l’empreinte environnementale de la conception et du déploiement des réseaux », le CNNum propose « d’encourager les forfaits ...

ING
ING Helpdesk

Benelux Morning Notes

Ahold Delhaize: 2Q20 preview D'Ieteren: 1% growth in VW car registrations in July, Belgium down 1% DSM: And the beat goes on JDE Peet's: Espresso time KPN: VodafoneZiggo posts solid 2Q results, maintains guidance

Russell Waller

New Street: W. Europe Fixed Tariff Tracker July 2020: Modest cuts in Switzerland; improving trends elsewhere

Average fixed price growth declined slightly to -2.4% YoY in July (from -1.7% in June), with price cuts in Austria and Switzerland offsetting better trends elsewhere.

Russell Waller

New Street: KPN Q2 20 – Follow-up post conference call – FTTH analysis and call feedback

We published our Quick Thoughts on the results. In this piece, we follow-up with thoughts post the conference call, and in light of the share price move today, some expanded thoughts on FTTH in The Netherlands.

ING
Hendrik Wiersma

KPN/Solid balance sheet with upward potential for the KPN0.625 4/25 and KPN1.125 9/28

KPN reported solid underlying 2Q20 results. The impact of Covid-19 has been limited thus far and the EBITDA and capex outlook for the full year was reiterated. Management remains committed to growing free cash flow this year. The leadership has identified some risks for a potential worsening in payment behaviour by customers due to Covid-19, but indicated it is not seeing this currently. The company's balance sheet remains solid, with reported net debt/EBITDA at 2.3x at the end of 2Q20. We therefore see upward potential for the KPN0.625 4/25 and KPN1.125 9/28, as these bonds offer a significa...

ING
Alyssa Gammoudy ...
  • Hendrik Wiersma
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen
  • Timothy Rahill

Coffee, Croissants & Credit/Mutual fund flows, KPN & Verizon

Strategy: Euro high yield mutual funds turn to inflows YTD, 17 weeks after crisis outflows

ING
Alyssa Gammoudy ...
  • Hendrik Wiersma
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen
  • Timothy Rahill

Coffee, Croissants & Credit/Ahold Delhaize, KPN and Iberdrola

Consumers: Ahold Delhaize US Industry Pension Fund update

ING
Hendrik Wiersma

Telecoms/Capex not structurally impacted by Covid-19

The impact of Covid-19 on the operational performances of telecom companies has been limited thus far. Areas that are affected are mainly roaming revenues due to lower travel and handset sales following store closures. Most operators have not seen a significant increase in bad debts. The longer the lockdown measures remain in place, this risk increases and is therefore closely monitored by the management teams. When looking at the comments on investments plans, we observe no big changes compared to the start of the year, with the exception of Telenor, which reduced its capex guidance significa...

ING
Alyssa Gammoudy ...
  • Hendrik Wiersma
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen
  • Timothy Rahill

Coffee, Croissants & Credit/BBVA, Danske Bank, Société Générale, BAWAG, Carlsberg, KPN, Orange, Proximus, Suez & Shell

Financials: BBVA earnings drop to a loss due to goodwill impairment and Covid-19 charges, capital shrinks with higher RWA. Danske Bank reports weak earnings and deteriorating credit quality. Société Générale earnings drop to a loss due to higher impairments and poor revenues. BAWAG's earnings down with higher provisions, capital ratio mainly shrinks with dividend accrual

Bruno Cavalier ...
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/27/2020

After years of unrealised €/$ bullish forecasts the single currency is finally on an upward trajectory. This change of course reflects a radical shift in the perception of the political risk associated with the European Union. The starting point for the rise (17 May) corresponds, moreover to the Franco-German announcement of the stimulus plan project. The European agreement of 21 July to begin the implementation process argues in favour, in a context of an upturn in PMIs, in favour of...

KONINKLIJKE KPN NV sees an upgrade to Positive due to a better fundamental star rating

The general evaluation of KONINKLIJKE KPN NV (NL), a company active in the Integrated Telecommunications industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date June 19, 2020, the closing price was EUR 2.35 and its potential was estimated at EUR 2.53.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Koninklijke KPN – AGM 15 April 2020

In general, Koninklijke KPN ("KPN") is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting.   Under ITEM 11 it is proposed to newly appoint Ms. Catherine Guillouard as Member of the supervisory board. Based on the available information, Ms. Guillouard would qualify as independent board member in accordance with provision 2.1.8 of the Dutch Corporate Governance Code. On the other hand, ECGS has concerns over her aggregate time commitments. Ms. Guillouard is already serving as CEO of RATP group (executive position) and non-executi...

Expert Corporate Governance Service (ECGS)

Koninklijke KPN April 10th, 2019

In general, Koninklijke KPN ("KPN") is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 4, the supervisory board seeks approval to amend the Company's remuneration policy. Although ECGS has no (major) concerns over the proposed amendments, the maximum variable salary, corresponding to 405% of annual base salary, exceeds the threshold of 300% of annual base salary under ECGS' guidelines.  Accordingly, ECGS recommends to vote OPPOSE. There are no further peculiarities.

Royal KNP – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 18/04/2018

Under agenda item 10, it is proposed to amend the Articles of Association of the Company. These amendments mainly relate to a change in the registered office of KPN to Rotterdam and updating with current legislation. The change in the registered officefollows the move of KPN

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 06/12/2017

Under agenda item 2, the shareholders of KPN are notified of the intended appointment of Mr Maximo Ibarra as member and chairman of the Board of Management of KPN as of the AGM on 18 April 2018. Furthermore, shareholder approval is sought for payments to Mr Ibarra for services rendered before 18 April 2018. We express our concern over the fact that KPN failed to disclose why the current chairman of the Board of Management of KPN, Mr Eelco Blok, will only step down on 18 April 2018. It is therefore also unclear why Mr Ibarra would need to render services up untill that date. Furthermore, Mr Iba...

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