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Koninklijke KPN (KPN) investor relations material
Koninklijke KPN Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
FY 2025 service revenues grew 2.7% year-on-year, with all segments contributing and adjusted EBITDA AL rising 5.1% to €2,636m, supported by cost discipline and operational efficiencies.
Free cash flow increased 5.8% to €952m, exceeding guidance, with FCF per share up 7.1%.
Record broadband net additions, strong commercial momentum in consumer and SME, and wholesale expansion via sponsored roaming.
Fiber footprint expanded by 440,000 homes passed and 399,000 connected, reinforcing market leadership.
Strategy focused on network investment, digital transformation, and operating model modernization, supporting ambitions for 3% annual service revenue and EBITDA growth, and 7% FCF growth.
Financial highlights
Adjusted revenues up 3.5% year-on-year to €5,829m; Q4 adjusted EBITDA AL up 5.1% to €662m; EBITDA margin improved to 45.2%.
Net profit increased 0.9% year-on-year to €855m, aided by lower taxes and a one-off tax gain.
Capex for FY 2025 was €1,263m, representing 21.7% of adjusted revenues.
Free cash flow margin over adjusted revenues up nearly 40 basis points to 16.3%.
ROCE improved by 30bps to 14.7%; leverage ratio stable at 2.4x.
Outlook and guidance
2026 guidance: service revenue growth of 2–2.5%, adjusted EBITDA AL ~€2,670m, Capex ~€1.25bn, FCF >€950m.
Dividend per share to grow 10% to €0.20 in 2026, with a €250m share buyback planned.
Capex to fall below €1bn by 2027, supporting strong cash generation and shareholder returns.
Mid- to high single-digit operational FCF growth expected in 2026, with 10% annual growth targeted post-2027.
Committed to returning all free cash flow to shareholders via dividends and buybacks.
- TimeTickerHeadlineOpen
- 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebPECO
2026 FFO per share growth guided at 5.5% with record occupancy and robust acquisitions. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRI
Net loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high. - 6 FebCRI
Net loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway. - 6 FebEMBASSY
Record revenue, NOI, and distributions highlight strong growth and robust segment performance. - 6 FebCRI
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2025 results beat guidance; Sun Belt focus, asset sales, and share buybacks drive 2026 strategy.
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