Dutch telco KPN annual earnings meet forecasts, sees fractional growth in 2021

AMSTERDAM: KPN NV, the largest Dutch telecommunications company, on Wednesday posted annual core earnings in line with estimates, as retail clients made heavy use of its services amid national lockdowns imposed to curb the spread of the coronavirus.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) after leases came in at 2.32 billion euros ($2.82 billion), up from 2.29 billion euros in 2019.

Core earnings were in line with analysts’ forecasts in a company-compiled poll after Chief Eexcutive Officer Joost Farwerck set it as a target during an investors’ conference last November.