This document contains projections for operating expenses (Opex), revenue, and Opex as a percentage of revenue for a company from 2014 to 2027 under different scenarios. It shows historical Opex and revenue from 2014 to 2017 and forecasts from 2018 to 2027. Opex as a percentage of revenue is projected to decrease from -30% in 2018 to -20% in 2027 under the selected case scenario.

1. Opex Selected Case 2
2014 2015 2016 2017Q3 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
In Million Actual Actual Actual Actual Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast
Opex -1,068.36 -1,640.13 -2,266.60 -2,817.65 -6446.0 -10344.2 -13466.4 -16051.4 -19294.6 -21745.3 -23935.4 -27826.1 -32015.5 -35251.5
Revenue 3,198.36 4,046.03 7,000.13 8,470.50 21486.8 34480.7 48094.1 61736.0 80394.2 98842.4 119676.8 139130.6 160077.4 176257.4
Opex as a % of revenue -33% -41% -32% -33% -30% -30% -28% -26% -24% -22% -20% -20% -20% -20%
Selected Case -35%
Opex as a % of revenue -30% -30% -28% -26% -24% -22% -20% -20% -20% -20%
Best Case
Opex as a % of revenue -29% -29% -27% -25% -24% -22% -20% -20% -20% -20%
Base Case
Opex as a % of revenue -30% -30% -28% -26% -24% -22% -20% -20% -20% -20%
Worse Case
Opex as a % of revenue -30% -31% -29% -27% -24% -22% -20% -20% -20% -20%