THE HAGUE (dpa-AFX) - Dutch telecommunication firm Royal KPN NV (KPN, KKPNY, KKPNF) reported that second-quarter net profit from continuing operations decreased 55 percent to 160 million euros from 352 million euros in the prior-year quarter.
Revenues from continuing operations for the quarter decreased 5.1 percent to 1.74 billion euros from 1.84 billion euros last year. Adjusted revenues for the quarter were 1.75 billion euros, down from 1.82 billion euros in the previous year.
KPN also said it intends to pay a dividend per share of 8.0 euro cents in respect of 2015,and the dividend per share in respect of 2016 is expected to grow further. KPN added it will pay an interim dividend per share of 3.0 euro cents in respect of 2015, subject to approval by an Extraordinary General Meeting of Shareholders.
Looking ahead to 2015, the Capex outlook is now projected to be more than 1.3 billion euros, adjusted from less than 1.3 billion euros. Adjusted EBITDA is expected in line with 2014, and free cash flow, excluding TEFD dividend, is now expected to be less that 500 million euros, adjusted from about 400 million euros.
The company also said the simplification program is on track, and about 230 million euros of run-rate savings were realized by end of the second quarter.
Copyright RTT News/dpa-AFX