KPN’s quarterly profit meets expectations, revenue surges 1%

KPN NV’s third-quarter adjusted earnings, reported on Tuesday, came in line with expectations, while the company reiterated its full-year earnings forecast.

Adjusted earnings before interest, taxes, depreciation, amortization and leases (EBITDAL) were reported at EUR 607 million during the quarter ended on September 30th, up from EUR 598 million a year ago.

Expectations, according to a company-compiled poll, had pointed to EUR 606 million in earnings.

KPN is striving to achieve a full-year 2021 EBITDAL growth of 1% to EUR 2.345 billion.

The largest Dutch telecommunications company reported a 1% year-on-year increase in total revenue to EUR 1.31 billion during the quarter, as growth in mobile customers and broadband connections more than compensated for a multi-year drop in sales to business clients.

“We see a healthy customer inflow in consumer and business (operations), especially in mobile,” KPN’s Chief Executive Officer Joost Farwerck said in a statement, cited by Reuters.

As of 7:16 GMT on Wednesday the shares of KPN NV were retreating 0.63% (EUR 0.017) on the day to trade at EUR 2.675 in Amsterdam. Yesterday the shares closed 0.77% lower as they registered their steepest single-session loss since October 19th.