THE HAGUE (dpa-AFX) - Dutch telecom firm Royal KPN NV (KKPNY, KKPNF) reported Wednesday that its second-quarter net profit grew 5.1 percent to 227 million euros from last year's 216 million euros.
Operating profit or EBIT was 357 million euros, up 5.7 percent from prior year's 337 million euros.
Adjusted EBITDA AL was 629 million euros, up 5.6 percent from 596 million euros a year ago. Adjusted EBITDA Al margin improved to 45.2 percent from 44.8 percent last year.
In the quarter, adjusted revenues grew 4.5 percent to 1.39 billion euros from last year's 1.33 billion euros. Service revenues went up 3.7 percent to 1.29 billion euros, driven by Consumer and Business segments.
Looking ahead, CEO Joost Farwerck said, 'We are confident to deliver on our full-year 2024 outlook and we remain on track to deliver on our mid-term ambitions as outlined during our Capital Markets Day, including shareholder distributions.'
KPN continues to expect fiscal 2024 adjusted EBITDA AL of approximately 2.50 billion euros, and service revenues growth of around 3 percent.
KPN also reiterated its mid-term ambitions, expecting a growth of around 3% CAGR in service revenues and adjusted EBITDA AL.
The company further said it intends to pay a regular dividend per share of 17 euro cents over 2024. An interim dividend of 6.8 euro cents per share will be paid on August 1.
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