Dutch telecoms group KPN Telecom (or Royal KPN as it is also known) posted a 51% year-on-year fall in net income to EUR288 million (USD379 million) for the three months ended 31 March 2012, down from EUR591 million a year earlier, as weak margins across all its business operations – but particularly in its domestic consumer mobile segment – hit its bottom line. The Group reported that quarterly sales dipped 1.4% to EUR3.19 billion, while core earnings before interest, tax, depreciation and amortisation (EBITDA), fell 13% in the first quarter to EUR1.1 billion, broadly in line with the EUR1.111 billion forecast in a Reuters poll of eight analysts. Nonetheless, KPN noted that the fall in EBITDA was most pronounced in the group's Netherlands home market, where core profit declined 15%, even though core profit at its international business (including Belgium and Germany) showed a small 1.7% y-o-y rise.
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OVETEL KPN reports 51% fall in 1Q profit; accelerates cost-cutting plan
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