Repeat: KPN delivers solid first half year, with resilient earnings and cash flow
- Group service revenues increased 0.8% y-on-y in Q2 2026, driven by Consumer (+1.9%), SME (+6.9%) and Wholesale (+1.0%)
- Consumer service revenue trend further improved, driven by both mobile (+3.2%) and fixed (+1.3%)
- Business service revenues -1.1% y-on-y, mainly impacted by lower revenues from low-margin Tailored Solutions (-19%)
- Adj. EBITDA AL at € 668m (-0.3% y-on-y) in Q2 2026, or +3.4% excl. prior-year IP sales and IPR benefits
- H1 2026 Free Cash Flow at € 329m, progressing according to plan
- Leading the Dutch fiber market, connecting 83k new homes and activating 41k fiber homes1
- KPN partnered with Schwarz Digits to launch a European sovereign cloud in the Netherlands
- FY 2026 service revenue growth outlook estimated at approximately +1.5% y-on-y, despite expected acceleration to ~2-2.5% in H2 2026
- KPN reiterates FY 2026 outlook for adj. EBITDA AL, Capex and Free Cash Flow, and mid-term ambitions, incl. cumulative shareholder distributions
Program
12:45 CEST: Registration of attendees 13:00 CEST: Webcast
The webcast and documents can be accessed via our website ir.kpn.com
Formal disclosures:
Royal KPN N.V. Head of IR: Matthijs van Leijenhorst Inside information: Yes Topic: Q2 2026 Results 22/07/2026; 7:30h KPN-N
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