Q2 revenues were down by 3.1% yoy, a slightly disappointing number which was, however, expected as in Q1 they were down by 2.9%. But EBITDA (adjusted from IFRS 16) was up by 3.6%: good news reflecting more than in previous quarters that, despite lower revenues, savings related to the second wave of its Simplification programme and digitalisation of services are bearing fruit. We maintain our opinion at Add on KPN.
24 Jul 2019
An EBITDA up by 3.6% yoy despite lower revenues
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
An EBITDA up by 3.6% yoy despite lower revenues
Royal KPN NV (KPN:WBO) | 0 0 1.1% | Mkt Cap: 10,881m
- Published:
24 Jul 2019 -
Author:
Jean-Michel Salvador -
Pages:
3
Q2 revenues were down by 3.1% yoy, a slightly disappointing number which was, however, expected as in Q1 they were down by 2.9%. But EBITDA (adjusted from IFRS 16) was up by 3.6%: good news reflecting more than in previous quarters that, despite lower revenues, savings related to the second wave of its Simplification programme and digitalisation of services are bearing fruit. We maintain our opinion at Add on KPN.