Dutch telecom KPN ups 2022 targets saying it can limit inflation hit

Dutch telecom company KPN NV on Wednesday raised full-year core profit and cash flow outlooks, saying it was confident in its measures to limit the impact of soaring inflation after a solid half-year performance.

The group now targets adjusted earnings before interest, taxes, depreciation and amortisation and after leases (EBITDAAL) of more than 2.40 billion euros ($2.44 billion) this year, with free cash flow of around 850 million euros.

The largest telecom provider in the Netherlands had previously guided for core earnings of around 2.40 billion euros and free cash flow of more than 825 million euros.