Solid performance KPN Group Belgium in 2011

(PresseBox) ( Brussel, )
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- Strong underlying service revenue growth of 11%
- Very strong underlying EBITDA growth of 23%
- Good response to new propositions, customer base up by 403,000 in 2011, to over 4.1 million
- Significant investments made in 2011 to accelerate roll-out of high speed data network
- 2.6GHz spectrum acquired enabling next generation technology (LTE)

KPN Group Belgium today published its results for the fourth quarter 2011 and for the full year 2011. The company finished 2011 with a strong fourth quarter, in which the customer base increased by 61k and now totals in excess of 4.1 million customers. Reported wireless service revenues for the full year were up by 0.4% to €687 million and corrected for the impact of regulation (totalling €60 million, principally mandatory cuts to MTA tariffs) service revenues in fact showed an underlying growth of 11% in 2011. At €273 million, reported EBITDA for the year was up by 0.7%, impacted by regulation to the tune of €35 million; underlying EBITDA increased by 23% year on year. KPN Group Belgium also grew its full year EBITDA margin to 35% on the back of its final quarter performance and increased focus on efficiency.

KPN Group Belgium's interim CEO Jos Donvil commented on the results "Looking through the regulatory impact on our results, we can see that 2011 was a good year for KPN Group Belgium. We will continue the process of change that we started last summer to improve the long-term performance of our business and remain firmly committed to invest in Belgium. Our staff, partners and suppliers have worked very hard in 2011 for our customers and I would like to thank them for all that they do".

Fourth Quarter Financial and Operational Details

In the fourth quarter of 2011 KPN Group Belgium added 61k (21k postpaid and 40k prepaid) customers to its client base, bringing the total to 4,131,000. Revenues and other income in Belgium were up 6.8% (€13 million) to €203 million in the fourth quarter compared to the last quarter of 2010. Corrected for the impact of regulatory cuts, revenues and other income showed an underlying increase of 13% in the final quarter of 2011. Underlying growth in wireless service revenue accelerated to 15% year-on-year in Q4 2011, outgrowing the negative impact of regulation in the quarter (3.6%). The increase in underlying service revenues was a result of solid data revenue growth, strong activation performance across all channels driven by the successful launch of new BASE products including BASE C and BASE Check and services as well as continued growth through partner brands including Jim Mobile and Allo RTL. In addition, Base continued to grow via BASE business targeted at SME and SOHO in Belgium. Overall in 2011, KPN Group Belgium outperformed the market, with a projected market share in terms of services revenues of more than 19% at the end of the year, a 1% market share increase versus last year.
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