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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
- PNDORA
2025 organic growth reached 6%, with EBIT margin at 23.9% and cautious 2026 outlook. - PRU
Earnings rose 12% to $6.6B; Japan sales pause to cut 2026 earnings by $300M-$350M. - FTV
2025 results beat guidance, with strong EPS growth and $1.6B in share repurchases. - BEN
All proposals passed, with strong financial growth and strategic progress in alternatives and ETFs. - APAM
AUM hit $180B in 2025, with strong credit/alternatives growth and higher dividends. - OXBR
Tokenized reinsurance contracts on Solana open Florida’s high-return market to global investors. - KMT
Q2 sales and earnings surged, driving raised full-year guidance and strong segment growth. - RNR
Net income hit $2.65B in 2025, with 30.8% book value growth despite major loss events. - WNC
Q4 2025 revenue was $321.5M with losses, but Parts & Services grew 32.6% year-over-year. - AGI
Path to 1M oz gold by 2029, with lower costs, strong cash flow, and major expansions advancing.
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