Strong customer momentum driven by solid Internet subscriber growth in Canada and improving subscriber performance in the U.S.Three-year transformation program centered on synergies, digitization, advanced analytics and network expansion fully underway.On track to launch wireless in Canada over the coming quarters.Adjusted EBITDA(1) grew by 1.7% over last year, while profit for the period increased by 11.9%.Fiscal 2025 financial guidelines maintained.A quarterly dividend of $0.922 per share was declared, representing an 8.0% increase over the prior year.
MONTRÉAL, Jan. 13, 2025 /CNW/ – Today, Cogeco Communications Inc. (TSX: CCA) (“Cogeco Communications” or the “Corporation”) announced its financial results for the first quarter ended November 30, 2024.
“As we enter fiscal 2025 under a new operating model focused on synergies, digital, and analytics, we are already seeing positive developments in many aspects of our business,” said Frédéric Perron, President and CEO. “High-speed Internet subscriber growth remains strong in Canada and subscriber metrics are improving in the U.S. Adjusted EBITDA margins are growing and our preparation for an upcoming Canadian wireless launch is on track.
“Our Canadian telecommunications business recorded solid Internet subscriber growth in both the Cogeco and oxio brands, as well as from the network expansion program in Ontario.
“In the U.S., our financial results were as expected. Our overall product mix continued to improve, driven by demand for higher speed offerings, while efficiency initiatives drove another quarter of solid adjusted EBITDA margin. Furthermore, we recorded improving subscriber trends, including our best performance in Ohio since we acquired the business.
“We have successfully embarked on a three-year transformation program to improve our agility and competitiveness by pursuing new growth initiatives and forging a simpler cost-efficient North American organization. I would like to thank our employees and stakeholders for their continued support.”
Consolidated Financial Highlights
Three months ended November 30
2024
2023
(2)
Change
Change in
constant
currency
(1)
(In thousands of Canadian dollars, except % and per share data)
(unaudited)
$
$
%
%
Revenue
738,695
747,689
(1.2)
(1.6)
Adjusted EBITDA (1)
365,215
358,960
1.7
1.4
Adjusted EBITDA margin (1)
49.4 %
48.0 %
Profit for the period
107,160
95,752
11.9
Profit for the period attributable to owners of the Corporation
100,588
89,493
12.4
Adjusted profit attributable to owners of the Corporation (1)(3)
90,674
103,726
(12.6)
Cash flows from operating activities
218,865
236,982
(7.6)
Free cash flow (1)(2)
148,858
137,848
8.0
7.8
Free cash flow, excluding network expansion projects (1)(2)
170,657
169,508
0.7
0.5
Acquisition of property, plant and equipment
153,243
153,549
(0.2)
Net capital expenditures (1)(4)
150,645
146,427
2.9
2.4
Net capital expenditures, excluding network expansion projects (1)
128,846
114,767
12.3
11.7
Capital intensity (1)
20.4 %
19.6 %
Capital intensity, excluding network expansion projects (1)
17.4 %
15.3 %
Diluted earnings per share
2.38
2.01
18.4
Adjusted diluted earnings per share (1)(3)
2.14
2.33
(8.2)
Operating results
For the first quarter of fiscal 2025 ended on November 30, 2024:
Revenue decreased by 1.2% to $738.7 million. On a constant currency basis(1), revenue decreased by 1.6% due to a decline in revenue in the American telecommunications segment, while revenue remained stable in the Canadian telecommunications segment.American telecommunications’ revenue decreased by 2.6%, or 3.4% in constant currency, mainly due to a decline in our subscriber base, especially for entry-level services, and to a higher proportion of customers subscribing to Internet-only services. The decline was offset in part by a better product mix.Canadian telecommunications’ revenue remained stable, mainly driven by the cumulative effect of high-speed Internet service additions over the past years, including from network expansion projects, as well as from the Niagara Regional Broadband Network acquisition completed on February 5, 2024, offset by an overall decline in video and wireline phone service subscribers as an increasing proportion of customers subscribe to Internet-only services.Adjusted EBITDA increased by 1.7% to $365.2 million. On a constant currency basis, adjusted EBITDA increased by 1.4%, mainly due to higher adjusted EBITDA in the Canadian telecommunications segment and lower corporate costs driven by initiatives undertaken in relation to the strategic wireless partnerships announced in August, while adjusted EBITDA remained stable in the American telecommunications segment.Canadian telecommunications adjusted EBITDA increased by 1.6% as reported and in constant currency, mostly due to lower operating expenses driven by lower technology licensing costs and the timing of certain operating expenses, a $2.6 million gain on disposals of certain property, plant and equipment, as well as cost reduction initiatives and operating efficiencies.American telecommunications adjusted EBITDA remained stable as reported and in constant currency, driven by cost reduction initiatives and operating efficiencies, offset by lower revenue.Profit for the period amounted to $107.2 million, of which $100.6 million, or $2.38 per diluted share, was attributable to owners of the Corporation compared to $95.8 million, $89.5 million, and $2.01 per diluted share, respectively, in the comparable period of fiscal 2024. The increases in profit for the period and profit attributable to owners of the Corporation resulted mainly from a lower financial expense due in part to last year’s pre-tax $16.9 million non-cash loss on debt extinguishment recognized following a US$1.6 billion refinancing in September 2023, a pre-tax $13.8 million non-cash gain recognized during the first quarter of fiscal 2025 in connection with a sale and leaseback transaction of a building in Ontario, and higher adjusted EBITDA. The increases were partly offset by higher depreciation and amortization expense and higher income tax expense.Adjusted profit attributable to owners of the Corporation(3) was $90.7 million, or $2.14 per diluted share(3), compared to $103.7 million, or $2.33 per diluted share, last year.Net capital expenditures were $150.6 million, an increase of 2.9% compared to $146.4 million in the same period of the prior year. In constant currency, net capital expenditures(1) were $150.0 million, an increase of 2.4% compared to last year, mainly due to higher spending in the American telecommunications segment mostly due to the timing of certain initiatives, offset in part by lower spending in the Canadian telecommunications segment, also mainly due to the timing of certain initiatives and lower purchases of customer premise equipment.Excluding network expansion projects, net capital expenditures were $128.8 million, an increase of 12.3% compared to $114.8 million in the same period of the prior year. In constant currency, net capital expenditures, excluding network expansion projects(1) were $128.2 million, an increase of 11.7% compared to last year, mainly due to the same factors as above.Fibre-to-the-home network expansion projects continued in both Canada and the United States, with the addition of close to 9,500 homes passed during the first quarter of fiscal 2025.Capital intensity was 20.4% compared to 19.6% last year. Excluding network expansion projects, capital intensity was 17.4% compared to 15.3% in the same period of the prior year.Acquisition of property, plant and equipment amounted to $153.2 million and remained stable compared to last year.Free cash flow(2) increased by 8.0%, or 7.8% in constant currency, and amounted to $148.9 million, or $148.7 million in constant currency(1), mainly due to net proceeds from disposals of property, plant and equipment, including net proceeds amounting to $16.5 million received in connection with a sale and leaseback transaction of a building in Ontario, and higher adjusted EBITDA, offset in part by higher current income taxes and net capital expenditures. Free cash flow, excluding network expansion projects(2) amounted to $170.7 million, or $170.4 million in constant currency, and remained stable compared to the same period of the prior year.Cash flows from operating activities decreased by 7.6% to $218.9 million, mostly due to lower cash from other non-cash operating activities, due in part to the timing of grants received in connection with network expansion projects and the collection of trade accounts receivable, and higher income taxes paid, partly offset by higher adjusted EBITDA and lower interest paid.Cogeco Communications maintains its fiscal 2025 financial guidelines as issued on October 31, 2024.At its January 13, 2025 meeting, the Board of Directors of Cogeco Communications declared a quarterly eligible dividend of $0.922 per share, an increase of 8.0% compared to $0.854 per share in the comparable quarter of fiscal 2024.
__________
(1)
Adjusted EBITDA and net capital expenditures are total of segments measures. Adjusted EBITDA margin and capital intensity are supplementary financial measures. Constant currency basis, adjusted profit attributable to owners of the Corporation, net capital expenditures, excluding network expansion projects, free cash flow and free cash flow, excluding network expansion projects are non-IFRS Accounting Standards measures. Change in constant currency, capital intensity, excluding network expansion projects and adjusted diluted earnings per share are non-IFRS Accounting Standards ratios. These indicated terms do not have standardized definitions prescribed by IFRS® Accounting Standards, as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and therefore, may not be comparable to similar measures presented by other companies. For more information on these financial measures, please consult the “Non-IFRS Accounting Standards and other financial measures” section of this press release.
(2)
During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation. For further details, please refer to the “Non-IFRS Accounting Standards and other financial measures” section of this press release.
(3)
Excludes the impact of acquisition, integration, restructuring and other costs (gains) (which includes the non-cash gain on sale and leaseback transactions recognized in the first quarter of fiscal 2025), and the non-cash loss on debt extinguishment recognized in the first quarter of fiscal 2024 (all net of tax and non-controlling interest).
(4)
Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.
Financial highlights
Change in
constant
currency
Three months ended November 30
2024
2023
(1)
Change
(2) (3)
(In thousands of Canadian dollars, except % and per share data)
$
$
%
%
Operations
Revenue
738,695
747,689
(1.2)
(1.6)
Adjusted EBITDA (3)
365,215
358,960
1.7
1.4
Adjusted EBITDA margin (3)
49.4 %
48.0 %
Acquisition, integration, restructuring and other costs (gains) (4)
(9,958)
2,616
—
Profit for the period
107,160
95,752
11.9
Profit for the period attributable to owners of the Corporation
100,588
89,493
12.4
Adjusted profit attributable to owners of the Corporation (3)(5)
90,674
103,726
(12.6)
Cash flow
Cash flows from operating activities
218,865
236,982
(7.6)
Free cash flow (1)(3)
148,858
137,848
8.0
7.8
Free cash flow, excluding network expansion projects (1)(3)
170,657
169,508
0.7
0.5
Acquisition of property, plant and equipment
153,243
153,549
(0.2)
Net capital expenditures (3)(6)
150,645
146,427
2.9
2.4
Net capital expenditures, excluding network expansion projects (3)
128,846
114,767
12.3
11.7
Capital intensity (3)
20.4 %
19.6 %
Capital intensity, excluding network expansion projects (3)
17.4 %
15.3 %
Per share data (7)
Earnings per share
Basic
2.39
2.02
18.3
Diluted
2.38
2.01
18.4
Adjusted diluted (3)(5)
2.14
2.33
(8.2)
Dividends per share
0.922
0.854
8.0
(1)
During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Proceeds from sale and leaseback and other disposals of property, plant and equipment amounted to $19.6 million for the first quarter of fiscal 2025 ($0.3 million for the same period of fiscal 2024). Comparative figures were restated to conform to the current presentation. For further details, please refer to the “Non-IFRS Accounting Standards and other financial measures” section of this press release.
(2)
Key performance indicators presented on a constant currency basis are obtained by translating financial results from the current period denominated in US dollars at the foreign exchange rate of the comparable period of the prior year. For the three-month period ended November 30, 2023, the average foreign exchange rate used for translation was 1.3654 USD/CDN.
(3)
Adjusted EBITDA and net capital expenditures are total of segments measures. Adjusted EBITDA margin and capital intensity are supplementary financial measures. Adjusted profit attributable to owners of the Corporation, free cash flow, free cash flow, excluding network expansion projects and net capital expenditures, excluding network expansion projects are non-IFRS Accounting Standards measures. Change in constant currency, capital intensity, excluding network expansion projects and adjusted diluted earnings per share are non-IFRS Accounting Standards ratios. These indicated terms do not have standardized definitions prescribed by IFRS Accounting Standards and therefore, may not be comparable to similar measures presented by other companies. For more information on these financial measures, please consult the “Non-IFRS Accounting Standards and other financial measures” section of this press release.
(4)
For the three-month period ended November 30, 2024, acquisition, integration, restructuring and other costs (gains) were mostly related to a $13.8 million non-cash gain recognized in connection with a sale and leaseback transaction of a building in Ontario. For the three-month period ended November 30, 2023, acquisition, integration, restructuring and other costs were mostly related to configuration and customization costs related to cloud computing and other arrangements.
(5)
Excludes the impact of acquisition, integration, restructuring and other costs (gains), and gains/losses on debt modification and/or extinguishment, all net of tax and non-controlling interest.
(6)
Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.
(7)
Per multiple and subordinate voting share.
As at
November 30, 2024
August 31, 2024
(In thousands of Canadian dollars)
$
$
Financial condition
Cash and cash equivalents
91,569
76,335
Total assets
9,917,807
9,675,009
Long-term debt
Current
342,415
361,808
Non-current
4,595,476
4,448,261
Net indebtedness (1)
4,907,478
4,803,629
Equity attributable to owners of the Corporation
3,102,566
2,979,691
(1)
Net indebtedness is a capital management measure. For more information on this financial measure, please consult the “Non-IFRS Accounting Standards and other financial measures” section of the Corporation’s MD&A for the three-month period ended November 30, 2024, available on SEDAR+ at www.sedarplus.ca.
Forward-looking statements
Certain statements contained in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to Cogeco Communications Inc.’s (“Cogeco Communications” or the “Corporation”) future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as “may”; “will”; “should”; “expect”; “plan”; “anticipate”; “believe”; “intend”; “estimate”; “predict”; “potential”; “continue”; “foresee”; “ensure” or other similar expressions concerning matters that are not historical facts. Particularly, statements relating to the Corporation’s financial guidelines, future operating results and economic performance, objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, purchase price allocation, tax rates, weighted average cost of capital, performance and business prospects and opportunities, which Cogeco Communications believes are reasonable as of the current date. Refer in particular to the “Corporate objectives and strategy” and “Fiscal 2025 financial guidelines” sections of the Corporation’s fiscal 2024 annual Management’s Discussion and Analysis (“MD&A”) for a discussion of certain key economic, market and operational assumptions we have made in preparing forward-looking statements. While management considers these assumptions to be reasonable based on information currently available to the Corporation, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Cogeco Communications currently expects. These factors include risks such as general market conditions, competitive risks (including changing competitive and technology ecosystems and disruptive competitive strategies adopted by our competitors), business risks, regulatory risks, tax risks, technology risks (including cybersecurity), financial risks (including variations in currency and interest rates), economic conditions (including inflation pressuring revenue, reduced consumer spending and increasing costs), talent management risks (including the highly competitive market for a limited pool of digitally skilled employees), human-caused and natural threats to the Corporation’s network (including increased frequency of extreme weather events with the potential to disrupt operations), infrastructure and systems, sustainability and sustainability reporting risks, ethical behavior risks, ownership risks, litigation risks and public health and safety, many of which are beyond the Corporation’s control. For more exhaustive information on these risks and uncertainties, the reader should refer to the “Uncertainties and main risk factors” section of the Corporation’s fiscal 2024 annual MD&A and of the fiscal 2025 first-quarter MD&A. These factors are not intended to represent a complete list of the factors that could affect Cogeco Communications and future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information contained in this press release and the forward-looking statements contained in this press release represent Cogeco Communications’ expectations as of the date of this press release (or as of the date they are otherwise stated to be made) and are subject to change after such date. While management may elect to do so, the Corporation is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law.
All amounts are stated in Canadian dollars unless otherwise indicated. This press release should be read in conjunction with the Corporation’s MD&A for the three-month period ended November 30, 2024, the Corporation’s condensed interim consolidated financial statements and the notes thereto for the same period prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and the Corporation’s fiscal 2024 Annual Report.
Non-IFRS Accounting Standards and other financial measures
This press release includes references to non-IFRS Accounting Standards and other financial measures used by Cogeco Communications. These financial measures are reviewed in assessing the performance of Cogeco Communications and used in the decision-making process with regard to its business units.
Reconciliations between non-IFRS Accounting Standards and other financial measures to the most directly comparable IFRS Accounting Standards measures are provided below. Certain additional disclosures for non-IFRS Accounting Standards and other financial measures used in this press release have been incorporated by reference and can be found in the “Non-IFRS Accounting Standards and other financial measures” section of the Corporation’s MD&A for the three-month period ended November 30, 2024, available on SEDAR+ at www.sedarplus.ca. The following non-IFRS Accounting Standards measures are used as a component of Cogeco Communications’ non-IFRS Accounting Standards ratios.
Specified non-IFRS Accounting Standards measures
Used in the component of the following non-IFRS Accounting Standards ratios
Adjusted profit attributable to owners of the Corporation
Adjusted diluted earnings per share
Constant currency basis
Change in constant currency
Net capital expenditures, excluding network expansion projects
Capital intensity, excluding network expansion projects
Financial measures presented on a constant currency basis for the three-month period ended November 30, 2024 are translated at the average foreign exchange rate of the comparable period of the prior year, which was 1.3654 USD/CDN.
Constant currency basis and foreign exchange impact reconciliation
Consolidated
Three months ended November 30
2024
2023
(1)
Change
(In thousands of Canadian dollars, except percentages)
Actual
Foreign
exchange
impact
In
constant
currency
Actual
Actual
In
constant
currency
$
$
$
$
%
%
Revenue
738,695
(2,723)
735,972
747,689
(1.2)
(1.6)
Operating expenses
368,558
(1,440)
367,118
383,491
(3.9)
(4.3)
Management fees – Cogeco Inc.
4,922
—
4,922
5,238
(6.0)
(6.0)
Adjusted EBITDA
365,215
(1,283)
363,932
358,960
1.7
1.4
Free cash flow (1)
148,858
(204)
148,654
137,848
8.0
7.8
Net capital expenditures
150,645
(687)
149,958
146,427
2.9
2.4
(1)
During the fourth quarter of fiscal 2024, the Corporation updated its free cash flow calculation to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation.
Canadian telecommunications segment
Three months ended November 30
2024
2023
Change
(In thousands of Canadian dollars, except percentages)
Actual
Foreign
exchange
impact
In
constant
currency
Actual
Actual
In
constant
currency
$
$
$
$
%
%
Revenue
377,266
—
377,266
376,448
0.2
0.2
Operating expenses
177,788
(97)
177,691
180,094
(1.3)
(1.3)
Adjusted EBITDA
199,478
97
199,575
196,354
1.6
1.6
Net capital expenditures
74,161
(120)
74,041
87,836
(15.6)
(15.7)
American telecommunications segment
Three months ended November 30
2024
2023
Change
(In thousands of Canadian dollars, except percentages)
Actual
Foreign
exchange
impact
In
constant
currency
Actual
Actual
In
constant
currency
$
$
$
$
%
%
Revenue
361,429
(2,723)
358,706
371,241
(2.6)
(3.4)
Operating expenses
182,617
(1,344)
181,273
193,071
(5.4)
(6.1)
Adjusted EBITDA
178,812
(1,379)
177,433
178,170
0.4
(0.4)
Net capital expenditures
73,727
(563)
73,164
55,853
32.0
31.0
Adjusted profit attributable to owners of the Corporation
Three months ended November 30
2024
2023
(In thousands of Canadian dollars)
$
$
Profit for the period attributable to owners of the Corporation
100,588
89,493
Acquisition, integration, restructuring and other costs (gains)
(9,958)
2,616
Loss on debt extinguishment (1)
—
16,880
Tax impact for the above items
281
(5,161)
Non-controlling interest impact for the above items
(237)
(102)
Adjusted profit attributable to owners of the Corporation
90,674
103,726
(1)
Included within financial expense.
Free cash flow and free cash flow, excluding network expansion projects reconciliations
Three months ended November 30
2024
2023
(1)
(In thousands of Canadian dollars)
$
$
Cash flows from operating activities
218,865
236,982
Changes in other non-cash operating activities
74,174
52,935
Income taxes paid
6,639
2,903
Current income taxes
(14,628)
(7,228)
Interest paid
61,471
63,972
Financial expense
(65,489)
(83,294)
Loss on debt extinguishment (2)
—
16,880
Amortization of deferred transaction costs and discounts on long-term debt (2)
1,464
2,674
Net capital expenditures (3)
(150,645)
(146,427)
Proceeds from sale and leaseback and other disposals of property, plant and equipment (1)
19,613
255
Repayment of lease liabilities
(2,606)
(1,804)
Free cash flow (1)
148,858
137,848
Net capital expenditures in connection with network expansion projects
21,799
31,660
Free cash flow, excluding network expansion projects (1)
170,657
169,508
(1)
During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation.
(2)
Included within financial expense.
(3)
Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.
Net capital expenditures reconciliation
Three months ended November 30
2024
2023
(In thousands of Canadian dollars)
$
$
Acquisition of property, plant and equipment
153,243
153,549
Subsidies received in advance recognized as a reduction of the cost of property, plant and equipment during the period
(2,598)
(7,122)
Net capital expenditures
150,645
146,427
Adjusted EBITDA reconciliation
Three months ended November 30
2024
2023
(In thousands of Canadian dollars)
$
$
Profit for the period
107,160
95,752
Income taxes
26,625
18,098
Financial expense
65,489
83,294
Depreciation and amortization
175,899
159,200
Acquisition, integration, restructuring and other costs (gains)
(9,958)
2,616
Adjusted EBITDA
365,215
358,960
Net capital expenditures and free cash flow, excluding network expansion projects reconciliations
Net capital expenditures
Three months ended November 30
2024
2023
Change
(In thousands of Canadian dollars, except percentages)
Actual
Foreign
exchange
impact
In
constant
currency
Actual
Actual
In
constant
currency
$
$
$
$
%
%
Net capital expenditures
150,645
(687)
149,958
146,427
2.9
2.4
Net capital expenditures in connection with network expansion projects
21,799
(16)
21,783
31,660
(31.1)
(31.2)
Net capital expenditures, excluding network expansion projects
128,846
(671)
128,175
114,767
12.3
11.7
Free cash flow
Three months ended November 30
2024
2023
(1)
Change
(In thousands of Canadian dollars, except percentages)
Actual
Foreign
exchange
impact
In
constant
currency
Actual
Actual
In
constant
currency
$
$
$
$
%
%
Free cash flow (1)
148,858
(204)
148,654
137,848
8.0
7.8
Net capital expenditures in connection with network expansion projects
21,799
(16)
21,783
31,660
(31.1)
(31.2)
Free cash flow, excluding network expansion projects (1)
170,657
(220)
170,437
169,508
0.7
0.5
(1)
During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation.
Additional information
Additional information relating to the Corporation is available on SEDAR+ at www.sedarplus.ca and on the Corporation’s website at corpo.cogeco.com.
About Cogeco Communications Inc.
Cogeco Communications Inc. is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. We also offer wireless services in most of our U.S. operating territory. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future. Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).
For information:
Investors
Troy Crandall
Head, Investor Relations
Cogeco Communications Inc.
Tel.: 514 764-4600
troy.crandall@cogeco.com
Media
Claudja Joseph
Director, Communications & DEI
Cogeco Communications Inc.
Tel.: 514 764-4600
claudja.joseph@cogeco.com
Conference Call:
Tuesday, January 14th, 2025 at 9:30 a.m. (Eastern Standard Time)
A live audio webcast of the analyst call will be available on both the Investor Relations and the Events and Presentations pages of Cogeco Communications’ website. Financial analysts will be able to access the live conference call and ask questions. Media representatives may attend as listeners only. A recording of the conference call will be available on Cogeco Communications’ website for a three-month period.
Please use the following dial-in number to access the conference call 5 to 10 minutes before the start of the conference:
Local – Toronto: 1 289 514-5100
Toll Free – North America: 1 800 717-1738
To join this conference call, participants are required to provide the operator with the name of the company hosting the call, that is, Cogeco Inc. or Cogeco Communications Inc.
The conference call will be followed, at 11:30 a.m., by the annual meeting of shareholders of each company, which will be held this year in hybrid mode.
via live webcast at: https://my.400.lumiconnect.com/r/participant/live-meeting/400-608-173-827in-person at: Lumi Experience Montreal, 1250 René-Lévesque West, Suite 3610 (36th floor)
SOURCE Cogeco Communications Inc.
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