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14 . TELUS 2010 annual report
At TELUS, we believe in setting annual financial targets to provide clarity
for
investors and help drive organizational performance. This scorecard
shows TELUS’ 2010 performance against our original consolidated targets.
The achievement of three out of four targets reflects strong wireless
performance and the realization of benefits from our strategic investments
in broadband networks and operating efficiency in recent years. Revenues
were lower than expected, reflecting a shortfall from wireline sales growth
and ongoing erosion in legacy voice services.
2010 scorecard
OUR PERFORMANCE
Consolidated 2010 results 2010 original targets Result
Revenues $9.779 billion $9.8 to $10.1 billion 6
EBITDA $3.643 billion $3.5 to $3.7 billion 4
Earnings per share (EPS) – basic1$3.23 $2.90 to $3.30 4
Capital expenditures $1.721 billion $1.7 billion approximately 4
1 Includes nine cents per share of positive income tax-related adjustments offset by 12 cents per share for a loss on early partial redemption of long-term debt,
neither of which were contemplated in setting 2010 targets.
4 Met target 6 Did not meet target
For further information, see Section 1.4
of Management’s discussion and analysis
in this report.