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Dow Jones Newswires: Royal KPN reports forecast-beating profit, backs guidance

Royal KPN NV said Wednesday that third-quarter net profit rose ahead of consensus, helped by lower costs, and backed its guidance for the year.

For the quarter, the Dutch telecommunications operator
KPN,
-0.11%

said net profit was 211 million euros ($210.3 million) compared with EUR185 million for the third quarter of 2021 and consensus of EUR161.1 million, taken from FactSet and based on three analysts’ forecasts.

Adjusted earnings before interest, taxes, depreciation and amortization after lease costs–the company’s preferred metric, which strips out exceptional and other one-off items–were EUR618 million compared with EUR607 million the year before. Ebitda was EUR647 million, up from EUR640 million in the year ago.

Revenue for the quarter was EUR1.34 billion compared with EUR1.33 billion in the year-prior period.

The board intends to pay a dividend of 14.3 European cents a share

Royal KPN expects 2022 adjusted Ebitda after lease costs to be in excess of EUR2.4 billion, capital expenditure to be EUR1.2 billion, and report a free cash flow of around EUR850 million.

The company said that it expects to deliver slight adjusted Ebitda after lease costs growth in 2023.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

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