Restatement prior periods product reporting fmwkSource: RNS
13 January 2022
Office of the Company Secretary
General Enquiries 03 8647 4838
Facsimile 03 9650 0989
Dear Sir or Madam
Restatement of prior periods' product reporting framework
In accordance with the Listing Rules, I attach an announcement and accompanying slides (included as a PDF attachment) for release to the market.
As foreshadowed at our FY21 results announcement and to align with our T25 strategy, Telstra is changing its product reporting framework. The new framework includes:
· More transparency across our infrastructure business with InfraCo Fixed and Amplitel (InfraCo Towers) on a standalone basis
· Mobile and Fixed product EBITDA margins after including intercompany infrastructure costs
In order to assist the market when reviewing Telstra's 2022 half-year results to be released on 17th February 2022, a detailed income statement and summary product EBITDA for the financial years ending 2020 and 2021 are available from the Telstra Investor site: www.telstra.com.au/aboutus/investors/financial-information/financial-results
The figures have been restated for the new product reporting framework. The restatement relates to product reporting only and does not impact income, expenses, EBITDA or profit measures at an aggregate Telstra level.
We remain committed to all financial ambitions under our previous reporting framework. At our half-year 2022 results on 17th February 2022, we will update how our previous product specific forward-looking statements translate into the new reporting framework.
A presentation regarding the new product reporting framework is attached.
Our auditor has performed agreed-upon procedures over the restatement as part our half-year 2022 financial reporting process.
Authorised for lodgement by:
Telstra Corporation Limited
ACN 051 775 556
ABN 33 051 77