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TELUS 2010 annual report . 15
TELUS’ 2011 financial targets1 reflect growth generated by significant
broadband infrastructure investments and are consistent with our national
growth strategy focused on wireless and data. For more information and
a complete set of 2011 financial targets and assumptions, see Sections 1.4
and 1.5 of Management’s discussion and analysis in this report.
These 2011 targets are qualified in their entirety by the Caution regarding forward-looking statements on page 38 of this report.
10
09
08
07
06
REVENUES ($ billions)
11 IFRS target 9.925 to 10.225
9.65
9.07
8.68
9.79
9.78
9.61
10 IFRS
10 C-GAAP
09
08
07
06
Increase of 1 to 4% largely driven by growth in wireless
and wireline data
EPS – BASIC ($)
3.50 to 3.90
3.52
3.79
3.33
3.14
3.23
3.27
11 IFRS target
10 C-GAAP
10 IFRS
09
08
07
06
Increase of 7 to 19%, reflecting expected growth in EBITDA
as well as lower financing costs and lower tax rates
EBITDA2 ($ billions)
11 IFRS target
09
08
07
3.675 to 3.875
3.78
3.76
06 3.62
3.64
3.65
3.49
10 C-GAAP
10 IFRS
Represents growth of 1 to 6% driven by wireless and data
revenue growth supported by continued network investments
CAPITAL EXPENDITURES3 ($ billions)
approx. 1.7
1.86
1.77
1.62
1.72
2.10
11 IFRS target
1.72
09
08
07
06
10 C-GAAP
10 IFRS
Continue to enhance wireline and wireless broadband
networks and increase Optik TV subscriber loading
2011 targets
OUR GOALS
1 As a result of TELUS’ changeover to International Financial Reporting Standards (IFRS) accounting on January 1, 2011, targets for 2011 are in accordance with IFRS.
Unaudited IFRS 2010 comparative results are provided for reference. The results for 2006 to 2009 are in accordance with Canadian generally accepted accounting
principles (C-GAAP) and have not been restated in accordance with IFRS.
2 2007 EBITDA excludes $169 million net-cash settlement feature expense for past options.
3 Excludes wireless spectrum costs of $882 million in 2008.