Koninklijke KPN (KPN) AGM 2025 summary

Opening remarks and agenda

• The meeting was held both physically and virtually, allowing full participation, including Q&A and voting.

• Formalities were observed, and introductions included board members, auditors, and representatives from key stakeholders.

• Voting procedures and language options were explained, with real-time remote voting enabled.

Financial performance review

• Revenue grew by 3.4% in 2024, driven by consumer and business services, with EBITDA up 3.6%.

• Free cash flow reached €900 million, up 1.6% year-on-year, despite €1.2 billion in investments.

• CapEx was €1.25 billion, slightly above expectations, with a record number of homes connected to fiber.

• Return on capital improved to over 14%, with a target of 15% through further fiber investment and cost savings.

Board and executive committee updates

• Supervisory Board and Executive Board members were introduced, with changes in auditor from EY to PwC for the next fiscal year.

• Ms. Sap and Mr. van de Aast were reappointed to the Supervisory Board, ensuring continuity and expertise in ESG.