KPN moves up on slight improvement in Q3 results

KPN (KKPNY) are up 1.5% in Amsterdam trading after the telco delivered slightly improving results (excl. its E-Plus unit, which was sold during the quarter)

Revenue fell 7.6% Y/Y to to €2.08B, compared to a 9.4% drop YTD.

EBITDA dropped 14% Y/Y to €743M as margin contracted to 35.7% from 38.5%.

Net profit of €87M plunged 56% Y/Y.

FCF declined 38% to €63M.

CEO Eelco Blok: "As expected, market conditions remained challenging in the third quarter. Nevertheless, our businesses in The Netherlands and Belgium are showing positive operational momentum."

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