So in terms of answering or fielding any questions that you’re getting in that regard, we do not intend to buy TI back into the TELUS organization. Anything that we might do would be entirely opportunistic and only around the edges. We expect the organization to stand on its own two feet and drive growth. And we think that the organization, particularly post the efficiency measures that they’re now implementing is going to have a fantastic platform for future growth and a very eager anchor tenant within the TELUS organization, but tremendous prospects on an external basis. particularly leveraging what we think are terrific accelerators for TI in respect of generative AI and how uniquely the TELUS International organization is positioned in that regard.
It’s also a huge opportunity for TI to productize the success that it’s helped drive at TELUS and drive those solutions, not just across the comms and media sector, but on a wider basis within its external client perimeter. So that’s policy. TI will stand on its own two feet, and I think the future will be very bright.
A – Robert Mitchell: Thanks, Maher. Next question, please.
Operator: Thank you. Our next question comes from Drew McReynolds of RBC. Please go ahead.
Drew McReynolds: Yes. Thanks very much. Just two for me. First, I guess, maybe for you, Doug, on the restructuring. Obviously, I think you’re the only one that includes this in free cash flow guidance everyone’s restructuring. So there shouldn’t be any surprise there. But it feels a little bit of back foot front foot. There’s part of this that is required probably because of some cost inflation, but also front foot because of your ability to be ahead of the curve and digitize. So, maybe comment on if that’s correct. And then just secondly, on the $325 million in run rate annualized savings, how should we think about that flowing through in 2024? I think by our calculation, it’s about 500 basis points of year-over-year EBITDA growth, but I’m sure it’s not that simple as adding that in 2024 because there’s other things that I’m sure will offset. So, just setting expectations here just broadly on that front? Thank you.
Darren Entwistle: All right, Doug, go for it.
Douglas French: Thanks Drew. So, we do plan to execute majority of the plan within 2023. There are some of the restructuring initiatives though, that do have a longer term benefit, and there would be some that would be, call it, multiyear in that payback such as the real estate rationalization as an example. And you are right, there will definitely be some give and takes between the cost efficiencies versus other pressures within the market dynamics, as highlighted by Darren earlier. So, I would profile majority of it coming through in the early to mid-part of next year, but balance through with some of the items that we’ve talked about lapping roaming as an example, you’ll see that, that will slow down into 2024 as we’ve lapped the COVID uptick and then it’s declining less of an impact into the future.
And that’s just one example of where you’d see that partial offset. But when we looked at it, it is a long-term plan. It is looking through the initiatives in front of us and driving the efficiency savings as quickly as possible is definitely at our desired outcome.
Robert Mitchell: Next question please.
Operator: Thank you. Our next question comes from Simon Flannery of Morgan Stanley. Please go ahead.
Simon Flannery: Great. Thank you very much. I wanted to talk a little bit more about competition. I think you talked about increased flanker competition. Perhaps you could just characterize that? And do you think this is temporary or longer term change? And to what extent is the risk of trade down from the premium plans? And maybe specifically on the West, we’ve had several months of Shaw and Rogers integration, you put up some good KPIs. But what are you seeing on the ground there? Is there any real change in the competitive intensity on the converged product set out West? Thanks.
Darren Entwistle: Thanks, Simon. Jim, Zainul, why don’t you hit that one?
Jim Senko: Okay. Why don’t I go first? The headwinds, I think, are pretty well known. But — we’re also seeing some good tailwinds. So, bring your own phone customer growth is strong, and that’s growth without device subsidy. 5G plus is holding its value versus 5G and 4G. And we’re seeing bundling accelerating, especially not just in the West, but we’re also seeing good bundling opportunities in Eastern Canada now, which has been great. Look, we’re pleased with how we navigated Q2. We had our best new customer growth since 2010. We’re the only major carrier sustaining ARPU growth, continued churn leadership, significant industry lead on customer lifetime value. Our roaming growth was 145% versus pre-pandemic. So those were all solid — bundling 5G plus family discount or protecting our premium customers.
