Telekom Austria Group Announces an Update of its Cash Use Policy at its Capital Markets Day (Ad-hoc)
December 02 2005 - 11:34AM
PR Newswire (US)
VIENNA, Austria, December 2 /PRNewswire-FirstCall/ -- At its
Capital Markets Day today, Telekom Austria (VSE: TKA, NYSE: TKA)
provided an update on its previously communicated cash use policy.
According to today's announcement, Telekom Austria intends to spend
about EUR 5 billion on acquisitions, share buybacks and dividends
in the period from 2006 to 2009. Cash intended for acquisitions,
share buybacks and dividends previously communicated for the period
2005 to 2007 amounted to EUR 3 billion. Furthermore, Telekom
Austria extended its mid-term outlook to include the period until
2009. Telekom Austria expects the compound annual growth rate of
Group revenues to be approximately 2% and the compound annual
growth rate for Group adjusted EBITDA to be approximately 2.5%. Net
Income is expected to grow with a compound annual growth rate of
approximately 13%. The outlook for full year 2005 announced at the
time of the release of the results for the third quarter remains
unchanged Overview Mid-Term Targets Mid-Term Targets 2005-2009
2003-2007 announced announced December 2, June 18 2005(2) 2004
Group Revenue CAGR ~2% >1% Group adjusted EBITDA CAGR ~2.5%
>2% Net Income CAGR ~13% n.a. Tangible CAPEX/Revenues