The US telecommunications operator AT&T intends to obtain between 5,000 and 10,000 million dollars through divestitures in non-strategic assets in the framework of a three-year program to increase the profitability of the company, which in the third quarter of 2019 registered a fall of 21,6% of its net profit, up to 3,700 million dollars.
AT&T, which announced the sale of its majority stake in Central European Media Enterprises (CME) to a subsidiary of the Czech firm PPF Group for $ 1.1 billion in cash, expressed its intention to continue reviewing its portfolio to evaluate opportunities to “monetize” non-strategic assets.
In this way, the company expects to reach 14,000 million dollars in 2019, while next year AT&T expects to monetize between 5,000 and 10,000 million dollars in non-strategic assets.
The operator, which closed the acquisition of Time Warner for $ 85.4 billion in 2018, aims to achieve an annual revenue growth of between 1% and 2% until 2022, with an adjusted of Ebitda margin of 35%, about 200 basis points above the 2019 level.
Likewise, the three-year plan of AT&T contemplates that the adjusted benefit per share of the operator reaches a range of between 4.50 and 4.80 dollars by 2022, compared to a range of 3.60 and 3.70 dollars provided by 2020.
“Our plan offers substantial and constant financial improvements over the next 3 years,” said Randall Stephenson, president and CEO of AT&T, who will remain at the helm of the company, “at least during 2020″.
The plan presented by AT&T aims to calm the demands of activist investors such as the Elliott Management fund, which has invested more than 3 billion dollars in the operator.
K. Tovar
Source: Plataformas.news
