Q2 2024 Koninklijke KPN NV Earnings Call Transcript
Key Points
- Group service revenues increased by 3.7%, driven by both fixed and mobile consumer segments.
- Business Services revenue showed continued growth, particularly in SME and data solutions.
- Solid EBITDA and free cash flow growth in the first half of 2024.
- Successful strategic initiatives, including the acquisition of Youfone and a partnership with Eneco for sustainable energy.
- Continued expansion of fiber footprint, with 168,000 households added in collaboration with Glaspoort.
- Wholesale service revenues declined by 10%, primarily due to the Youfone acquisition.
- Increased competition in the fixed broadband market, with aggressive promotional activities from competitors.
- Higher costs impacting EBITDA margin, despite revenue growth.
- Challenges in the B2B segment, with a slight decline in Business Net Promoter Score.
- Potential fluctuations in quarterly EBITDA growth rates, with Q3 expected to show lower growth compared to Q2.
Ladies and gentlemen, welcome to KPN's second quarter earnings webcast and conference call. Please note this event is being recorded.
I will now turn the call over to your host for today, Matthijs van Leijenhorst, Head of Investor Relations. You may begin.
Thank you, operator. Good afternoon, ladies and gentlemen. Thank you for joining us today. Welcome to KPN's second quarter and half year 2024 results. With me today are Joost Farwerck, our CEO; and Chris Figee, our CFO.
As usual before turning to our presentation, I would like to remind you of the Safe Harbor on page 2 of the slides, which also applies to any statements made during this presentation. In particular, in today's presentation may include forward-looking statements, including KPN's expectations with respect its outlook and ambitions, which were also included in the press release published this morning. All such statements are subject to the Safe Harbor.
Let me now hand over to our CEO, Joost
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