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Koninklijke KPN N.V.
KKPNY.PKISIN: US7806412059SEDOL: 2755676 |
Rating: SELL |
Target Price: 12.08 USD |
Investment Horizon: 6 to 12 months |
4Q 08 News Alert
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Koninklijke KPN N.V. (KPN) reported modest growth in revenues in 4Q 08, in line with our and consensus estimates, due to growth in Mobile international revenues, partially offset by a decline in revenues from the Netherlands. However, margins were below our estimates in 4Q 08, primarily due to higher than expected total operating expenses, as a…
3Q 08 Update Report
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During 3Q 08 Koninklijke KPN N.V. (KPN) recorded strong growth in revenues, driven by the acquisition of Getronics N.V (Getronics) and growth in E-Plus and Base revenues. However, EBITDA margin declined due to an increase in salaries and social securities contribution expenses, as a percentage of revenues. Going forward we expect revenues to be driven by increased Netherlands and Mobile international revenues....
Company News Alert
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Koninklijke KPN N.V. (KPN) reported robust growth in revenues in 3Q 08, due to growth in Netherlands and Mobile international revenues. However the company reported declining margins in 3Q 08, primarily due to higher total operating expenses, as a percentage of revenues and higher finance costs. Going forward, we expect EBITDA and EBIT margin to remain under pressure due to an anticipated increase in operating expenses. Hence, in light of…
Company News Alert
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Koninklijke KPN N.V (KPN) common stock has declined significantly since our last update report dated 03 June 2008, which we believe reflects general weakness in global equity markets....
2Q 08 News Alert
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Koninklijke KPN N.V. (KPN) reported robust growth in revenues in 2Q 08 due to growth in Netherlands and Mobile international revenues. However the company reported declining margins in 2Q 08, primarily due to higher total operating expenses, as a percentage of revenues and higher income tax, as a percentage of Profit before Tax (PBT) in 2Q 08....
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