Geography challenge
In order for us to deliver the best total shareholders’ return in our peer group we have to deliver in all markets. Therefore, we constantly evaluate structural changes in all our markets. If we cannot achieve our financial targets of return on capital employed above 20 percent and EBITDA margin above 35 percent on own infrastructure in a market over a period of time, the focus on finding structural solutions in that market becomes crucial for us.
Key priorities
- Find structural opportunities in all markets to deliver better TSR.
Success case
During 2010 we acquired a 51 percent stake in the operator Neo in Kazakhstan. By building on our extensive experience of establishing thriving mobile operations, we believe that we can increase our market share significantly and generate good returns for our shareholders in this market, just as we have done in our new regions in Russia.