FT outlines financial expectations

12 Nov 2003

France Télécom has said that it expects revenues to grow by between 3% and 5% in 2004 and 2005, with capital expenditure standing at about 10% of total sales in both those years. The operator is targeting a net debt to EBITDA ratio of between 1.5 and 2 times in both of those years and said any ‘excess cash’ might be used to resume the payment of dividends and also to improve organic growth.