Koninklijke KPN NV Q2 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Usman Ghazi - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Just two questions, please. The first one was, if you can update us on the situation with Huawei, please? And how do you see the risk of an accelerated (inaudible) being imposed by the European Commission next year? How do you expect to manage that situation if it was to arise? And then the second question was just, again, on mobile. I can see that Delta Fiber and T-Mobile have kind of deepened their cooperation a bit. I think T-Mobile has given them access to unlimited tariffs. And I was just wondering if you expected that development to have any implications for competitive in terms of market or not? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 24, 2023 / 11:00AM, KPN.AS - Q2 2023 Koninklijke KPN NV Earnings Call

Question: Usman Ghazi - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Sorry, my second question was just on -- I mean it seems like Delta wants to improve the positioning of their own retail brand by offering kind of fixed mobile convergence using the T-Mobile network on their own kind of retail brand. So it was more a question of -- do you see kind of the overbuilders trying to improve their connection rates on the infrastructure by launching their own retail bands? Or is this not a trend in the Netherlands?

Question: Konrad Zomer - ODDO BHF Corporate & Markets, Research Division - Analyst : I've got two as well. The first one is on your return on capital employed. Can you share with us how the returns that you generate on your fiber assets relate to the 13.7% that you achieved in Q2? Are they still significantly below? Or are they already close to that sort of level? And my second question is on future buybacks. You've indicated at the start of this year that we can now look at them as more or less structural. But given that the spectrum auction is likely to be delayed into the first half of next year, there's an increasing chance that it won't have happened before you actually report on your full year results. Could that potentially endanger any future buybacks to be announced at that sort of stage of the year? Or is structural significant enough to -- for them to be announced whatever happens?