Cogeco Communications Inc. Releases its Results for the Fourth Quarter of Fiscal 2017 and Increases its Dividend
- Revenue increased by $7.7 million, or 1.4%, to reach $551.7 million; - Adjusted EBITDA(1) remained stable compared to the same period of fiscal 2016; - Results for fiscal 2017 achieved or surpassed financial guidance for the year; and - A quarterly eligible dividend of $0.475 per share was declared, an increase of 10.5% compared to the fourth quarter of fiscal 2017.
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 11/02/17 -- Today, Cogeco Communications Inc. (TSX: CCA) ("Cogeco Communications" or the "Corporation") announced its financial results for the fourth quarter ended August 31, 2017, in accordance with International Financial Reporting Standards ("IFRS").
For the fourth quarter of fiscal 2017:
For the fiscal year ended August 31, 2017:
"For the last quarter of fiscal 2017, our Canadian broadband subsidiary''s performance was in line with expectations," declared Louis Audet, President and Chief Executive Officer of Cogeco Communications Inc. "Overall, Cogeco Connexion''s results over the course of the fiscal year have been very positive, with increases in revenue, EBITDA and free cash flow."
"Our American subsidiary continues to generate strong growth," stated Mr. Audet. "In addition to its continued expansion in Florida, a region with a strong potential for growth, Atlantic Broadband has seen significant expansion in both residential and business revenue in its Connecticut system, acquired in August 2015."
"In our Business ICT subsidiary, we continue to focus on improving Cogeco Peer 1 results in a highly competitive market where conditions are changing ever faster," added Mr. Audet. "Our focus remains on bringing more relevant solutions to the market and cross-selling our services, positioning ourselves as a trusted advisor offering the whole breadth of relevant enterprise services. In addition, we have generated meaningful free cash flow reflecting our focus on optimizing our asset base."
"As we close our fiscal 2017, I am satisfied with the solid performance of Cogeco Communications. I am very proud that our results were in line with or exceeded our financial guidance for the year across all key performance indicators," concluded Mr. Audet.
Fiscal 2018 Financial Guidelines
Cogeco Communications maintained its fiscal 2018 preliminary financial guidelines as issued on July 13, 2017. Fiscal 2018 financial guidelines do not include the MetroCast acquisition. The Corporation expects to review its financial guidelines when the transaction is concluded. Please consult the "Fiscal 2018 financial guidelines" section of the Corporation''s 2017 Annual Report for further details.
ABOUT COGECO COMMUNICATIONS
Cogeco Communications Inc. is a communications corporation. It is the 8th largest cable operator in North America, operating in Canada under the Cogeco Connexion name in Quebec and Ontario, and in the United States under the Atlantic Broadband name in western Pennsylvania, south Florida, Maryland/Delaware, South Carolina and eastern Connecticut. Cogeco Communications Inc. provides its residential and business customers with Internet, video and telephony services through its two-way broadband fibre networks. Through its subsidiary Cogeco Peer 1, Cogeco Communications Inc. provides its business customers with a suite of information technology services (colocation, network connectivity, hosting, cloud and managed services), through its 16 data centres, extensive FastFiber Network® and more than 50 points of presence in North America and Europe. Cogeco Communications Inc.''s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).
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Cogeco Communications Inc.
Patrice Ouimet
Senior Vice President and Chief Financial Officer
514-764-4700
Information:
Media
Rene Guimond
Senior Vice-President, Public Affairs and Communications
514-764-4700
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Datum: 02.11.2017 - 19:19 Uhr
Sprache: Deutsch
News-ID 1527137
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