Telenor is announcing:
- A revised dividend policy: Distribute 50-80% of normalized annual net income (previously 40-60%)
- An increase in the Net debt/EBITDA cap to 2.0x (previously 1.6x)
- A reconfirmed commitment to its previously stated operational excellence objectives for 2013 (Opex/Sales at <35% and Capex/Sales at ~10%)
- An update on the share buyback program: Currently at 50% completion
“Telenor is well positioned in our industry and in the macro economic landscape. Telenor has a strong position in the robust home market of Norway and substantial exposure to high growth markets in Asia,” says Jon Fredrik Baksaas, CEO and President, Telenor Group.
“Telenor will achieve further growth through a relentless focus on operational excellence. This means a systematic approach to excellence in all business units, replicating best practices and leveraging on our scale to drive group-wide standardization efforts,” says Jon Fredrik Baksaas, CEO and President, Telenor Group.
For additional information and presentation materials:
Capital Markets Day 2011
Tor Odland, Vice President, Group Communications
Mobile: +47 9909 0872, E-mail: firstname.lastname@example.org