Verizon Communications Inc. · NYSE:VZ
Verizon Communications — Investor Presentation (February 2014)
9 slides from Verizon Communications's investor presentation, Feb 24, 2014
Slide 1: The New Verizon: Completion of Acquisition of VOD Wireless Stake
THE NEW VERIZON COMPLETION OF ACQUISITION OF VOD WIRELESS STAKE Lowell McAdam – Chairman & CEO Fran Shammo – EVP & CFO February 24, 2014 VlpHU09DSUQyMDEzUTQ=
Slide 2: "Safe Harbor" Statement
“Safe Harbor” Statement NOTE: In this presentation we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of
Slide 3: Overview
Overview • Full ownership drives strategic and financial benefits • Accretive to earnings per share • Access to all of wireless cash flows • No business integration risk • Expanding wireless growth opportunities Focus on execution and delivering profitable growth Confidential and proprietary materia
Slide 4: The New Verizon
The New Verizon • World-class networks • Capable of delivering innovation on a large scale • Faster pursuit of growth opportunities • Emerging business models & eco-systems in video and M2M Unique assets to take advantage of growth opportunities Confidential and proprietary materials for authorized
Slide 5: 2014 Financial Outlook
2014 Financial Outlook • Transaction is accretive to earnings per share by approximately 10% • Targeting consolidated revenue growth of 4% • Targeting adjusted consolidated EBITDA margin expansion • Incremental interest expense • Effective tax rate of 35% - 36% • Approximately 4.1 billion shares out
Slide 6: 2014 Cash Flow Outlook
2014 Cash Flow Outlook • Continue to invest in networks, purchase spectrum and de-lever balance sheet • Dividends are an important component of returning value to shareholders • Higher cash taxes mitigated by retained VOD tax distribution • Targeting capital spending between $16.5 and $17 billion •
Slide 7: Cash Flow Geography
Cash Flow Geography PRE-TRANSACTION POST-TRANSACTION CFFO CFFO • Includes Omnitel dividend • Higher cash taxes to IRS • Higher interest expense • No Omnitel dividend Financing Financing • VOD tax distribution • No VOD tax distribution • VOD special distribution • No VOD special distribution • VZ Div
Slide 8: Summary
Summary • Build on strong record of success in 2013 • Confident in ability to continue strong financial performance • Continued focus on operating and capital efficiencies • Maximize cash flows • Create shareholder value Focused on execution and delivering profitable growth Confidential and propriet
Slide 9: The New Verizon: Completion of Acquisition of VOD Wireless Stake
THE NEW VERIZON COMPLETION OF ACQUISITION OF VOD WIRELESS STAKE Lowell McAdam – Chairman & CEO Fran Shammo – EVP & CFO February 24, 2014 VlpHU09DSUQyMDEzUTQ=
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