Q2 2026 Koninklijke KPN NV Earnings Call Transcript
Key Points
- Group service revenues increased by 0.8%, driven by consumer, SME, and wholesale segments.
- EBITDA increased by more than 3% on a comparable basis, supported by revenue growth and lower costs.
- Free cash flow rebounded in the second quarter, up 7% year-to-date.
- Koninklijke KPN NV (KKPNF) remains the leader in the Dutch fiber market, with 72% of the retail broadband base now on fiber.
- Partnership with Schwarz Digits to bring European sovereign clouds to the Dutch market, enhancing service offerings for larger customers and the government.
- Business service revenues declined by 1.1% year-on-year, impacted by declines in tailored solutions and LCE.
- Adjusted revenues decreased by 0.5% year-on-year in the second quarter due to a decline in non-service revenues.
- Net profit decreased by 1% year-on-year, driven by lower operating profit.
- The proposed Fosports Delta fiber transaction was prohibited by ACM, impacting strategic expansion plans.
- Tailored Solutions and LCE segments underperformed, leading to a moderated full-year 2026 service revenue outlook.
Call recording is on.
Good afternoon, ladies and gentlemen, and welcome to the KPN second quarter earnings webcast and conference call. Please note that this event is being recorded. (Operator Instructions)
I will now turn the call over to your host for today, Matthijs van Lijnhorst, Head of Investor Relations. Please, go ahead.
Yeah, thank you, operator.
Good afternoon, ladies and gentlemen, and thank you for joining us for KPN's second quarter and H1 2026 results webcast.
With me today are our CEO, Joost Varek, and our CFO, Kees Figet. Before we begin, please note the safe harbor statements on page 2.
Today's remarks may include forward-looking statements, including KPN's expectations regarding its outlook and ambition.
As also set out in a press release published this morning.
All such statements are subject to the safe harbor. With that, let me hand over to our CEO, Joost Varek.
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