Dutch telecom KPN reports FY2020 core earnings in line with forecast

AMSTERDAM, Jan 27 (Reuters) - KPN NV, the largest Dutch telecommunications company, on Wednesday reported core earnings in line with expectations for 2020, as retail clients made heavy use of its services amid national lockdowns due to the coronavirus pandemic.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) after leases was 2.32 billion euros ($2.82 billion), up from 2.29 billion euros in 2019.

That was exactly in line with analysts’ forecasts in a company compiled poll after CEO Joost Farwerck set it as a target during an investors’ conference in November. ($1 = 0.8224 euros) (Reporting by Toby Sterling; Editing by Himani Sarkar)