Koninklijke Kpn Nv (KKPNF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. Welcome to Capien's fourth quarter earnings webcast and conference call. Please note that this event is being recorded. At this time, all participants are in listen-only mode. We will be facilitating a question and answer session towards the end of today's prepared remarks. If you would like to ask a question, you may do so by pressing pound key five on your telephone keypad. I will now turn the call over to your host for today, Matthijs van Leeuwenhorst. Head of Investor Relations. You may now begin. Yes, thank you, operator. Good afternoon, ladies and gentlemen. Thank you for joining us today. Welcome to KPN's fourth quarter and full year 2025 results webcast. With me today are Joost Vaarwerk, our CEO, and Kirstie Geij, our CFO. As usual, before we begin our presentation, I would like to remind you of the safe harbor on page two of the slides. which applies to any statements made during this presentation. In particular, today's presentation may include forward-looking statements, including KPM's expectations regarding its outlook and ambitions, which were also included in the press release published this morning. All such statements are subject to the safe harbor. Now, let me hand over to our CEO, Joost Farberg. Thank you, Matthijs, and welcome, everyone. Let's start with some highlights of the fourth quarter and the full year. We delivered on our 2025 outlook and group service revenues increased by 2.7% with all segments contributing. Adjusted EBITDA and free cash flow exceeded guidance. We maintained strict cost control across the organization. Indirect costs were 10 million lower than last year, marking a clear turning point in indirect OPEX. In the fourth quarter, we saw consumer delivering another quarter of strong commerc...