For the first time since 2008, KPN has seen its annual turnover increase. In 2022, 5.3 billion came in, 1.4 percent more than a year earlier.
In recent years, KPN’s turnover has fallen again and again. This was partly due to the sale of foreign subsidiaries, more competition in the mobile calling market and business customers cutting costs.
That came to an end in 2022. Business customers in particular earned more, over 2 percent. More money also came in from mobile subscriptions, the prices of which were increased in October. Fixed internet revenues declined.
Net profit fell by 40 percent to 766 million euros. A year earlier, profit was higher due to a one-off book profit.
KPN is a completely different company in size than in 2008, the last time that turnover grew. Then the turnover was more than 10 billion, almost double what it is now. There were more than 35,000 full-time jobs at the company. There are now just under 10,000.
The company’s top boss, Joost Farwerck, also aims for growth in 2023. He points out that conditions are difficult, with rising energy costs and higher wages. KPN will increase staff wages this year by 5 to 7.4 percent, depending on the salary scale.
Typically, on July 1, the company raises fixed internet prices for consumers. In previous years, the inflation rate calculated by Statistics Netherlands was used as a starting point.
If KPN follows that figure this year, there will be a price increase of about 10 percent. According to chairman of the board Joost Farwerck, things will probably not go that fast. “We want to keep it reasonable. We will make a well-considered decision in the second quarter. 10 percent sounds very high to me at the moment.”
This month T-Mobile increased prices by 8.6 percent. In October, KPN increased prices for mobile customers by 5.8 percent.