Koninklijke KPN NV
2 May 2001
KPN maintains forecasts for the year 2001
During the General Meeting of Shareholders of Royal KPN N.V. (KPN) to be held
this afternoon, the Chairman of the Board of Management, Paul Smits, shall
confirm the forecasts for the year 2001. KPN expects an increase in revenues of
between 10% and 15% and an increase in the operational result (EBITDA) of
approximately 5%, without taking into account the effects of disposals. These
forecasts were first announced during the presentation of the 2000 annual
figures on 26 March, 2001.
KPN expects to report - according to plan - for the first quarter compared to
the first quarter of 2000 a revenue increase of approximately 20% without
incidentals and a slight decrease in EBITDA. The increase in revenues was mainly
due to KPN Mobile, but all other activities also have shown growth.
The slight decline in EBITDA in the first quarter is - according to plan
among other things caused by price cuts, in Fixed Telephony (per the second
quarter of 2000), by costs connected to the implementation of KPN's cost
reduction program, and by E-Plus's offensive marketing strategy in the rapidly
growing German mobile market. KPN's first quarter results will be released on
June 1, 2001.
KPN expects that the job reductions planned as part of the cost reduction
program and the development of margins at E-Plus will result in EBITDA
growth in the second half of the year with the growth for the full year
2001 amounting to approximately 5%.
Smits will also refer to the two very large, long-term roaming contracts
recently announced between the German subsidiary E-Plus (77.5% KPN Mobile
and 22.5% BellSouth) and Mobilcom and 3G Telefonica/Sonera.