Dutch quadruple-play operator KPN reported a 1.9% year-over-year increase in total revenues to €1,333 million ($1,469 million) in the first quarter of 2023, driven by B2B, a 1.2% year-over-year increase in revenues from basic group services and consumer mobile operations. B2B services revenue grew 3.1% year-over-year in the first quarter of 2023, supported by continued strong SMB performance, while consumer mobile services revenue grew 3.4%. Adjusted EBITDA AL decreased 1.6% year-over-year to €584 million, as free cash flow generation was impacted by the "phasing in of capital expenditures during the year", which increased 16% year-over-year to €298 million in the first quarter. Operating profit (EBIT) and net income increased by 8.6% and 9.7% year-on-year to 316 million euros and 196 million euros, respectively, in the first quarter of 2023.
As of March 31, 2023, KPN's fiber-to-the-home (FTTH) access points reached 4.136 million (including 340,000 through its Glaspoort joint venture), up 113,000 sequentially, up from 3.592 million (including 160,000 through Glaspoort) twelve months ago.
Joost Farwerck, CEO, commented: "Business services revenue grew for the fourth consecutive quarter. Revenue from consumer mobile services continued to grow, partially offsetting competitive dynamics in the fixed business, where we observed gradual improvement during the quarter ...... The significant investments we have made in our network and services are paying off.
