Outlook for 2016

The ambition is to maintain EBITDA from continuing operations, excluding non-recurring items, in local currencies, excluding acquisitions and disposals, at the same level as in 2015.

2016 is the peak year of the increased investments in fiber, mobile coverage and transformation. CAPEX for continuing operations, excluding license and spectrum fees, is expected to be SEK 14-15 billion. Currency fluctuations may impact the reported number in Swedish krona.

Dividend policy

TeliaSonera intends to distribute a minimum of 80 percent of free cash flow based on the pro forma group structure excluding region Eurasia.

For the fiscal year 2016, to be paid in 2017, the ambition is to distribute a minimum of SEK 2 per share.

The dividend should be split into two equal tranches to be distributed in the second and fourth quarter, respectively.

The company shall continue to target a solid investment grade long-term credit rating (A- to BBB+).

The company targets a leverage corresponding to net debt/EBITDA of 2x plus/minus 0.5x.

© TeliaSonera 2015
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