Bloomberg News

KPN Says 2012 Ebitda, Cash Flow to Decline as Investment Grows

January 24, 2012

Jan. 24 (Bloomberg) -- Royal KPN NA, the biggest Dutch telephone company, said earnings and free cash flow will fall in 2012 as the company undertakes investments in a “transition year.”

Earnings before interest, taxes, depreciation and amortization, excluding reorganization costs, will amount to 4.7 billion euros ($6.12 billion) to 4.9 billion euros, compared with 5.3 billion euros posted in 2011, and free cash flow will total 1.6 billion euros to 1.8 billion euros compared with 2.4 billion euros, the Hague-based company said today in a statement.

Capital spending may increase to as much as 2.2 billion euros this year, versus 2 billion euros in 2011, as the company adds mobile broadband capacity in Germany and Belgium, it said.

To contact the editor responsible for this story: Tom Lavell at

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