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Motley Fool Australia »Share Market News» Telstra’s share price (ASX: TLS) is under scrutiny after major update
James Micklboro | November 12, 2020 8:27 am | More on: TLS
Telstra Corporation Ltd (ASX: TLS) stock price will be in focus today after the release of a major announcement by the telecom giant.
This morning Telstra announced an important milestone in its T22 strategy with the company’s proposed restructuring to create three separate legal entities
Telstra CEO Andrew Penn believes the restructuring will enable the company to take advantage of potential monetization opportunities for its infrastructure assets that could create additional shareholder value.
He commented, “The proposed restructuring is one of the most important restructurings in Telstra’s history and the biggest change for the company since privatization. This will unlock value in the company, improve the returns from the company’s assets, and create more electives for the future. ”
“The challenges and disruptions that have occurred in the past six to twelve months have underpinned the increasing value of infrastructure assets globally; the importance of the digital economy, not only for business but for all of Australia and its economic recovery; and the digital economy’s reliance on telecommunications as its platform. p>
The proposed legal structure within Telstra is expected to be completed by December 2021 and will be:
InfraCo Fixed – will own and operate Telstra’s physical or passive infrastructure assets: channels, fibers, data centers, subsea cables, and exchanges that support Telstra’s fixed telecommunications network
InfraCo Towers – will own and manage passive or physical Telstra Towers assets, which Telstra will look to monetize over time due to strong demand and compelling ratings for this type of high quality infrastructure
ServeCo – will continue to focus on creating innovative products and services, supporting customers and providing the best possible customer experience ServeCo will own the active portions of the network, including the wireless access network and spectrum assets to ensure Telstra continues to maintain leading mobile coverage and network supremacy
In addition to the above, Telstra provided an update on its performance in fiscal year 2021 and its outlook for the full year and beyond
With pleasure, the company reconfirmed the FY 2021 guidance submitted to the market with its full annual results in August
Moreover, with the NBN rollout effectively completed and more than halfway through its T22 strategy, the company’s CEO believes it will return to core EBITDA growth by FY 2022 after that, aiming to increase its EBITDA core earnings. To the $ 7 range, from $ 5 to $ 5 billion in fiscal year 2023
Mr. Bin commented, “Although we do not provide financial guidance after the current fiscal year, our Board of Directors and our management team understand the importance of EBITDA in this scope and the procedures required to achieve this”
“If we manage to reach the lower end of the $ 7 – $ 5 – $ 8 base EBITDA range of $ 5 billion by FY23, this would offset the estimated return on investment of close to 8 percent and as a result, we update our ROIC target accordingly To be around 8 percent by FY 23, « he added
Mr. Ben also revealed that the adoption of 5G has been strong this year and is expected to get stronger by the end of the year
He explained: “Our mobile business continues to perform strongly compared to our competition. Our clear leadership in 5G technology means that we have the opportunity to take advantage of a new multi-year growth cycle and our minimum monthly commitment of transactions has continued to grow in FY 21 We already have more than 400,000 5G devices. On our network and we expect that to reach about 750 thousand by the end of the calendar year ”
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Telstra, Restructuring, Andy Penn
World News – AU – Telstra stock price (ASX: TLS) in view after major update
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