Investor Presentaiton
Financial targets for 2023
BCE
2022
2023E
Q1 2023
Revenue growth
3.1%
1% to 5%
3.5%
Adjusted EBITDA growth
3.1%
2% to 5%
(1.8%)
Capital intensity
21.2%
19% to 20%
17.9%
Adjusted EPS growth (1)
5.0%
(3%) to (7%)
(4.5%)
Free cash flow growth (2)
2.9%
2% to 10%
(88.1%)
Annual common share dividend(3)
$3.68
$3.87
$3.87
(1)
For 2023, we expect lower tax adjustments, higher depreciation and amortization expense and increased interest expense to drive lower adjusted EPS
(2)
For 2023, we expect growth in adjusted EBITDA, a reduction in contributions to post-employment benefit plans and payments under other post-employment benefit
plans, and lower capital expenditures will drive higher free cash flow
(3) Increase to $3.87 per share from $3.68 per share effective with Q1 2023 dividend
Reconfirming all 2023 financial guidance targets
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