AMSTERDAM, Feb 4 (Reuters) - Dutch telecommunications company KPN reported fourth-quarter earnings slightly ahead of analysts’ expectations on Wednesday and said it expected core earnings to have “stabilized” by the end of 2015.
The company reported adjusted EBITDA, or earnings before interest, taxes, depreciation and amortisation, of 669 million euros ($768 million) in the latest quarter.
Analysts polled by Reuters had forecast EBITDA of 641 million euros ($729 million).
“We have seen a stabilizing financial performance through successive quarters of 2014,” Chief Executive Eelco Blok said in a statement.
“We expect adjusted EBITDA to have stabilized by the end of the year and a growing free cash flow in 2015.”
The forecast underlines the company’s gradual return to more stable operations after years of struggling with too much debt and shrinking revenue.
Blok said the company is expected to increase dividend to 0.08 euro cents in 2015 from the 2014 level of 0.07 euro cents. ($1 = 0.8712 euros) (Reporting By Toby Sterling; Editing by Gopakumar Warrier)