In line with the downward trend in recent years, telecom company KPN generated less turnover in the first three months of this year. Compared to the first quarter of last year, at the end of which the corona pandemic reached the Netherlands, turnover decreased by 2.9 percent and amounted to just under 1.3 billion euros, the quarterly figures show.
However, more profit remained. This was because it was cheaper for the company to borrow money and because it was able to take advantage of favorable exchange rates. Net profit rose by 18 percent to 141 million euros.
Customers are still not very satisfied with the services of the telecom company, which always closely monitors the mood among consumers of its products. Customer satisfaction had fallen to its lowest point in four years at the end of last year, and it stayed that way at the beginning of the year.
One of the factors that contributed to this was that due to the high demand for telephone, internet and TV services, customer service was sometimes difficult to reach during the lockdown. The fact that satisfaction has not dropped deeper this year this year is, according to KPN, due to investments in capacity.
In the meantime, the company is steadily continuing to replace copper connections with the faster fiber optic. These investments in infrastructure increase the future value of KPN. Rumors that other parties are preparing a takeover bid for the company are not letting go for the time being. The figures also contain nothing about the eavesdropping of KPN customers by Huawei.