Netherlands' KPN Q3 group service revenue rises;  reiterates 2026 outlook

Koninklijke KPN NV

28/10/2026 06:43

Overview
Netherlands telecom firm's Q3 group service revenue rose 2.7% yr/yr, driven by all segments
Adjusted EBITDA AL was stable yr/yr; up 2.4% excluding prior-year IPR benefit
Company reached 6 mln fiber homes passed milestone

Outlook
KPN says it is on track to reach its full-year outlook
KPN reiterates its full-year 2026 outlook with service revenue growth of approximately 1.5%, adjusted EBITDA AL of approximately EUR 2,670mln, Capex of approximately EUR 1.25bln, and Free Cash Flow of more than EUR 950m

Result Drivers
MOBILE GROWTH - Consumer service revenue rose 1.8% yr/yr, mainly due to higher mobile revenue
BUSINESS SEGMENT - Business service revenues returned to growth, up 3.9% yr/yr, driven by SME and LCE
POSTPAID MOMENTUM - Solid momentum in Consumer and Business postpaid, with net additions of 66,000

Company press release: ID:nGNE40B3vC

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted Revenue
 
EUR 1.50 bln
 
Q3 Net Income
 
EUR 249 mln
 
Q3 Adjusted EBITDA
 
EUR 671 mln
 
Q3 Capex
 
EUR 315 mln
 
Q3 EBIT
 
EUR 356 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the integrated telecommunications services peer group is "buy"
Wall Street's median 12-month price target for Koninklijke KPN NV is €4.78, about 17% above its October 27 closing price of €4.09
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
Oct 27 - Telecoms group Orange Q3 revenue rises 3.6%
Oct 28 - Norway's Telenor Q3 service revenue rises, maintains 2026 forecast
Oct 26 - Australia's Tuas plunges 40% after Singapore regulator issues notice to telecom unit

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)