July 27, 2020 / 5:45 AM / 10 days ago

Dutch telco KPN expects stable profits over 2020 despite COVID-19

AMSTERDAM, July 27 (Reuters) - Dutch telecom company KPN said on Monday it expected its core profits to at least remain stable over 2020, as the effects of the coronavirus pandemic on its results were less dramatic than feared in recent months. KPN said adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 1.5% to 585 million euros ($684.2 million) in the second quarter.

Analysts polled by the company on average had predicted a drop to 576 million euros. ($1 = 0.8550 euros) (Reporting by Bart Meijer; Editing by Kim Coghill)

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