Koninklijke KPN (KPN) AGM 2026 summary

Opening remarks and agenda

• Meeting held in Rotterdam, accessible both in-person and virtually, with full participation rights for shareholders including Q&A and voting.

• Formalities and voting procedures explained, with digital voting available throughout the meeting.

• Official language was Dutch, but questions could be asked in Dutch or English, with translation provided.

Financial performance review

• Revenue from services rose by 2.7%, with all segments contributing; EBITDA and free cash flow exceeded guidance.

• Free cash flow reached EUR 952 million, up 5.8% from last year, and operating profit rose by 5.1%.

• Indirect costs reduced by EUR 10 million after years of increases; operational free cash flow grew by nearly 10%.

• CapEx exceeded EUR 1.2 billion, with expectations to reduce by EUR 250 million after fiber rollout peak.

• ROCE improved to 14.7%, nearing the medium-term target of 15%.

Strategic initiatives and plans

• Continued execution of the Connect, Activate and Grow strategy, aiming for 85% nationwide fiber coverage by 2030.

• Heavy investments in digital infrastructure, cybersecurity, and customer environment planned for coming years.

• Integrated ESG agenda with ambitious goals for responsibility, inclusiveness, and sustainability.

• AI and automation are central to transformation programs, targeting EUR 100 million in cost savings by 2030.