Inflation causes a small increase in turnover at KPN
KPN today announced its fourth quarter and full year 2022 results. The provider has again achieved a turnover increase for the first time in thirteen years. It did need the inflation that accompanied rising prices for that. Turnover for the whole of 2022 amounted to more than 5.3 billion euros, about 1.4 percent more than the year before.
More sales, but much less profit
Unfortunately, the increase in turnover did not mean that KPN also made more profit. On the contrary, net profit fell by about 40 percent, more than half a billion, and amounted to 766 million euros. Still a healthy margin in absolute terms. Rising prices have not prevented this sharp fall in profits.
As mentioned, KPN’s turnover fell for thirteen years in a row between 2008 and 2021. In 2008, the provider still had a turnover of more than 10 billion euros. Now, fourteen years later, only half of that remains. The company’s workforce was squeezed quite a bit during that same period. KPN currently has only 9,452 FTEs. Fourteen years ago there were more than 30,000.
More than half a million new fiber optic connections
In 2022, KPN and Glaspoort also made a major effort to upgrade the fiber network in the Netherlands. This led to an increase in the number of fiber optic connections of the provider by no less than 544,000. Mind you, these are the number of new connections. The number of fiber optic subscribers will increase by 163,000 in 2022. KPN’s mobile branch is also doing well in terms of customers. KPN welcomed a total of 195,000 net new (business and private) mobile customers (the number of new subscribers minus the number of departed subscribers).
“We are proud to have delivered on our outlook and ambitions for 2022. Throughout the year we grew our sales, a clear proof of the success of our strategy of sustainable growth”, said Joost Farwerck, CEO of KPN.
