Key information: Targets adjusted to reflect scope and FX effects. EBITDA target revised at CHF7bn as expected including CHF200m of additional cost savings. Cumulative operating free cash flow target of CHF7.5bn from 2016 to 2018. ROIC improvement of 300bp in 2018 vs 2015 level targeted. Maintains commitment to 2018 run rate capex of less than CHF2bn. Dividend proposed of CHF2 per share. Targets of dividend payout ratio of 50% through the cycle. Up to CHF1bn share buy-backs over the nex
21 Nov 2016
Underinvestment in future growth? No, it's a switch to the cleverest capital allocation!
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Underinvestment in future growth? No, it's a switch to the cleverest capital allocation!
Key information: Targets adjusted to reflect scope and FX effects. EBITDA target revised at CHF7bn as expected including CHF200m of additional cost savings. Cumulative operating free cash flow target of CHF7.5bn from 2016 to 2018. ROIC improvement of 300bp in 2018 vs 2015 level targeted. Maintains commitment to 2018 run rate capex of less than CHF2bn. Dividend proposed of CHF2 per share. Targets of dividend payout ratio of 50% through the cycle. Up to CHF1bn share buy-backs over the nex