The following is a summary of the Koninklijke KPN N.V. (KKPNF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Koninklijke KPN N.V. reported a 3.6% increase in group service revenues in Q1 2024, 4% corrected for divestments.

• The company recorded EBITDA growth and slightly lower free cash flow due to the timing of working capital.

• KPN increased its full-year guidance for EBITDA and free cash flow.

• Adjusted revenues increased by 3.3% in Q1 2024 with growth seen across all segments, particularly in Consumer.

• Adjusted EBITDA after leases rose by 3.6% year-on-year.

• Net income from fiber services reached over €1 billion due to robust base inflow and good prospects.

• Free cash flow decreased 6%, but is expected to rebound in Q2.

• Wholesale revenue experienced a slight increase of 0.8%.

Business Progress:

• KPN continued to expand its fiber footprint, adding about 160,000 households through its Glaspoort joint venture.

• The successful acquisition of Youfone enhanced the company's base management strategy.

• The company added 130,000 households to its fiber network, targeting to cover 80% of Dutch households by the end of 2026.

• KPN saw robust performance in the consumer segment, particularly in mobile and fixed service revenues.

• Youfone's Dutch operations acquisition bolstered the company's standing in the no-frills mobile segment.

• The Small and Medium-sized Enterprise (SME) market primarily drove growth in the Business-to-Business (B2B) segment.

• Broadband service revenues in Wholesale increased by 6% year-on-year.

• An average monthly net client inflow of between 4,000 and 7,000 and a stable 61% fiber broadband base is observed.

• The company projects continued growth in the SME market.

More details: KONINKLIJKE KPN NV IR

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