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- Revenue increased by 8.3%, or $44.5 million, to reach $582.9 million;
- Adjusted EBITDA(1) increased by $21.2 million, or 9.0%, to reach $255.2 million compared to the same period last year; and
- A quarterly dividend of $0.295 per share was declared, an increase of 15.7% compared to the first quarter of fiscal 2015.
MONTREAL, QUEBEC--(Marketwired - Jan 12, 2016) - Today, COGECO Inc. (TSX:CGO) ("COGECO" or the "Corporation") announced its financial results for the first quarter ended November 30, 2015, in accordance with International Financial Reporting Standards ("IFRS").
For the first quarter of fiscal 2016:
|(1)||The indicated terms do not have standardized definitions prescribed by IFRS and, therefore, may not be comparable to similar measures presented by other companies. For more details, please consult the "Non-IFRS financial measures" section of the Management's discussion and analysis ("MD&A").|
"Overall, our results for the first quarter of the new fiscal year have been satisfactory," declared Louis Audet, President and Chief Executive Officer of COGECO Inc. "Our American cable services subsidiary, Atlantic Broadband, has successfully completed the integration of its acquisition, in Connecticut and it continues to report strong results, helping us consolidate our presence in the American market. Meanwhile, our Canadian cable services subsidiary continues to report satisfactory results."
"At Cogeco Peer 1, significant portions of the integration of our business units are complete," continued Mr. Audet. "Our teams continue to work diligently to build robust and competitive product portfolios as well as sales and go-to-market strategies. I am confident that the efforts we are putting into this investment now, under the guidance of the strong leadership team currently in place, will help us achieve the growth we expect from this sector."
"As for our subsidiary, Cogeco Diffusion, I'm pleased to report that our results continue to be very positive, thanks to the strong performance of our radio and our transit display advertising. On the radio side, Cogeco's talk radio stations are number one in both Montréal (98,5 fm) and Québec city (FM 93) markets," concluded Louis Audet.
COGECO Inc. (corpo.cogeco.com) is a diversified holding corporation which operates in the communications and media sectors. Through its Cogeco Cable Inc. subsidiary, COGECO provides its residential and business customers with video, Internet and telephony services through its two-way broadband fibre networks. Cogeco Cable Inc. operates in Canada under the Cogeco Cable Canada name in Québec and Ontario, and in the United States under the Atlantic Broadband name in western Pennsylvania, south Florida, Maryland/Delaware, South Carolina and eastern Connecticut. Through Cogeco Peer 1, Cogeco Cable Inc. provides its business customers with a suite of information technology services (colocation, network connectivity, managed hosting, cloud services and managed IT services), through its 21 data centres, extensive FastFiber Network™ and more than 50 points-of-presence in North America and Europe. Through its subsidiary Cogeco Diffusion, COGECO owns and operates 13 radio stations across most of Québec with complementary radio formats serving a wide range of audiences as well as Cogeco News, its news agency. COGECO's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CGO). The subordinate voting shares of Cogeco Cable Inc. are also listed on the Toronto Stock Exchange (TSX:CCA).
|Analyst Conference Call:||Wednesday, January 13, 2016 at 9:30 a.m. (Eastern Standard Time)|
|Media representatives may attend as listeners only.|
|Please use the following dial-in number to have access to the conference call by dialing five minutes before the start of the conference:|
|Canada/United States Access Number: 1 800-505-9573|
|International Access Number: + 1 416-204-9498|
|Confirmation Code: 6162342|
|By Internet at corpo.cogeco.com/cgo/en/investors/|
|A rebroadcast of the conference call will be available until January 19, 2016, by dialing:|
|Canada and United States access number: 1 888-203-1112|
|International access number: + 1 647-436-0148|
|Confirmation code: 6162342|
|Three-month period ended November 30, 2015|
|Quarters ended November 30,|
|(in thousands of dollars, except percentages and per share data)||$||$||%|
|Integration, restructuring and acquisition costs||2,030||-||-|
|Profit for the period||66,831||65,363||2.2|
|Profit for the period attributable to owners of the Corporation||25,197||26,774||(5.9)|
|Cash flow from operating activities||90,247||18,999||-|
|Cash flow from operations(1)||188,168||174,252||8.0|
|Acquisitions of property, plant and equipment, intangible and other assets||147,230||103,524||42.2|
|Free cash flow(1)||40,938||70,728||(42.1)|
|Financial Condition (2)|
|Property, plant and equipment||2,045,180||2,005,461||2.0|
|Equity attributable to owners of the Corporation||624,259||603,598||3.4|
|Per Share Data (4)|
|Earnings per share|
|(1)||The indicated terms do not have standardized definitions prescribed by the International Financial Reporting Standards ("IFRS") and, therefore, may not be comparable to similar measures presented by other companies. For more details, please consult the "Non-IFRS financial measures" section of the MD&A.|
|(2)||At November 30, 2015 and August 31, 2015.|
|(3)||Indebtedness is defined as the aggregate of bank indebtedness, principal on long-term debt, balance due on a business combination and obligations under derivative financial instruments.|
|(4)||Per multiple and subordinate voting share.|
Senior Vice President and Chief Financial Officer
Senior Vice-President, Public Affairs and Communications