Company Guidance

We expect operating revenue to grow in the 8-9% range driven by continued strong subscriber growth across our main lines of business, our pricing actions and the ongoing rapid increase in the average speed of our fixed broadband subscriber base. We expect the EBITDA margin to be in the 41–42% range, pointing to a slight improvement. Finally, we expect capex intensity to increase to 33-34%, reflecting higher 5G investments as well as brownfield and greenfield fibre spending.

Our revised guidance for 2026 is as follows:

- Revenue growth (excluding IFRIC 12) 8-9%

- EBITDA margin 41-42%

- CAPEX intensity 33-34%