Report
Kris Kippers

KPN - Rock solid quarter, 2024 guidance confirmed

No surprises in Q4 with all key metrics landing in-line or around consensus expectationsCapex was finally down YoY due to phasing resulting in a slight FCF beat, dropping leverage to 2.2xOutlook 2024 is left untouched with a slight improvement of EUR 10m to its FCF guidance of EUR 880m
Underlying
Royal KPN NV

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.

Provider
Degroof Petercam
Degroof Petercam

​We are an investment house with Belgian roots founded on more than 150 years of trust.

As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.

Analysts
Kris Kippers

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