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Broadband

Cogeco revenues rise 1.8% to CAD 586.8 mln in Q1

Wednesday 15 January 2020 | 10:38 CET | News

Cogeco Communications said revenues for its fiscal first quarter to end November lifted 1.8 percent from the year before to caD 586.8 million, boosted by growth in its American broadband services. On a constant currency basis, revenues went 1.3 percent higher, with American broadband services’s growth of 3.5 percent offsetting the 0.5 percent decline at Canadian broadband services. These dipped on the back of less video service customers due to the company’s new customer management system. 

Adjusted EBITDA advanced 5.3 percent to CAD 282.1 million. On a constant currency basis, it increased by 4.9 percent. The net profit advanced to CAD 89.7 million from CAD 75.2 million the year earlier. Of the total, CAD 84.2 million, or CAD 1.71 per share was attributable to the company’s owners, up from 70.2 million and 1.42 year-on-year. Free cash flow meanwhile slipped by 4.3 percent to CAD 102.8 million, also on a constant currency basis. 

Finally, the company reiterated its guidance for fiscal 2020 and said it would keep its quarterly dividend at CAD 0.58. For the year, the company sees, on a constant currency basis, revenues up 2-4 percent, adjusted EBITDA going 2.5-4.5 percent higher and free cash flow advancing by 5-11 percent.



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Categories: Fixed
Companies: Cogeco Communications
Countries: Canada / United States
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