Cogeco’s Fiscal First-Quarter Canadian Revenues Climb 1.8%

Fiscal 2015 first-quarter revenue at cableco Cogeco’s Canadian division increased by 1.8% year-on-year to reach CAD315.2 million (USD263.5 million) in the three months ended 30 November 2014, attributable to a rate increase implemented in April 2014 in Quebec and Ontario, alongside customer base growth. Operating expenses in the quarter remained virtually level y-o-y at CAD155.4 million, as additional marketing initiatives related to the launch of TiVo digital advanced TV services in early November in Ontario were offset by cost reduction initiatives and restructuring activities in fiscal 2014. Fiscal 2015 first-quarter adjusted EBITDA amounted to CAD159.8 million, or 3.6% higher than in the same period of the prior year, mainly as a result of revenue growth exceeding operating expenses; consequently, operating margin increased from 49.9% to 50.7%. In September-November 2014 Cogeco Canada lost a net 7,479 TV customers to give it a total of 789,686; cable telephony subscribers were also reduced, by 553 to 468,720; broadband internet connections climbed by 13,327 in the three-month period to 692,911.

Thanks to TeleGeography for the article.

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