- Revenue increased by 14.8% (15.0% in constant currency
(1)) compared to the same period of the prior year to
reach $728.5 million;
- Adjusted EBITDA (1) reached $349.1 million, an increase of 13.7% (13.8% in
constant currency (1));
- Profit for the period amounted to $119.9 million, an increase of 8.5%;
- Free cash flow (1) amounted to $153.0 million, an increase of 7.2% (7.2% in
constant currency (1));
- Cash flows from operating activities increased by 21.6% to
reach $281.2 million;
- Fiscal 2022 financial guidelines were revised following a
reduction of capital expenditures projections and a corresponding
increase in projected free cash flow; and
- A quarterly eligible dividend of $0.705 per share was declared compared to
$0.64 per share in the comparable
quarter of fiscal 2021.
MONTRÉAL, April 13, 2022 /CNW/
- Today, Cogeco Communications Inc. (TSX: CCA) ("Cogeco
Communications" or the "Corporation") announced its financial
results for the second quarter ended February 28, 2022, in
accordance with International Financial Reporting Standards
("IFRS").
OPERATING RESULTS
For the second quarter of fiscal 2022:
- Revenue increased by 14.8% to reach $728.5 million compared to the previous year. On
a constant currency basis, revenue increased by 15.0%, mainly
explained as follows:
-
- American broadband services revenue increased by 31.3% in
constant currency mostly resulting from the Ohio broadband systems acquisition completed
on September 1, 2021, and from a
higher Internet service customer base and a higher value product
mix.
- Canadian broadband services revenue increased by 2.1% mainly as
a result of the DERYtelecom acquisition completed on December 14, 2020 and organic growth.
- Adjusted EBITDA increased by 13.7% to reach $349.1 million compared to the previous year. On
a constant currency basis, adjusted EBITDA increased by 13.8%,
mainly explained as follows:
-
- American broadband services adjusted EBITDA increased by 31.4%
in constant currency mainly resulting from the impact of the
Ohio broadband systems acquisition
and a higher margin driven by the organic revenue growth, partly
offset by costs incurred in connection with the rebranding of
Atlantic Broadband to Breezeline and overall higher marketing and
advertising activities and other costs which were unusually low
last year in the context of the COVID-19 pandemic restrictions.
- Canadian broadband services adjusted EBITDA increased by 1.7%
in constant currency mainly resulting from the impact of the
DERYtelecom acquisition and organic growth.
- Profit for the period amounted to $119.9
million, of which $111.3
million, or $2.40 per share,
was attributable to owners of the Corporation compared to
$110.6 million, $102.9 million, and $2.16 per share, respectively, in the comparable
period of fiscal 2021. The increases resulted mainly from higher
adjusted EBITDA and lower income tax expense, partly offset by the
increases in depreciation and amortization expense and financial
expense.
- Free cash flow increased by 7.2% as reported and in constant
currency to reach $153.0 million
compared to the previous year, mainly as a result of higher
adjusted EBITDA and lower current income taxes, partly offset by
higher capital expenditures and financial expense.
- Cash flows from operating activities increased by 21.6% to
reach $281.2 million compared to the
previous year, mainly resulting from higher adjusted EBITDA and
lower income taxes paid.
- Cogeco Communications purchased and cancelled 189,425
subordinate voting shares for a total consideration of $19.2 million.
- At its April 13, 2022 meeting,
the Board of Directors of Cogeco Communications declared a
quarterly eligible dividend of $0.705
per share compared to $0.64 per share
in the comparable quarter of fiscal 2021.
_______________________
|
(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 this press release, including
reconciliation to the most comparable IFRS financial
measures.
|
"For this second quarter of fiscal 2022, we are satisfied with
Cogeco Communications' performance, which was in line with
expectations," declared Philippe Jetté, President and Chief
Executive Officer of Cogeco Communications Inc.
"Results at our Canadian broadband business unit were steady
with a continued positive customer trend for our high-speed
Internet service," said Mr. Jetté. "Over the past months, Cogeco
Connexion has accelerated its construction efforts to connect more
homes in underserved communities in Québec and Ontario and continues its collaboration with
governments to bridge the digital gap between large urban centres
and less populated areas."
"The performance at our American broadband business unit, which
now goes by the name Breezeline, was in line with expectations,"
continued Mr. Jetté. "Internet customer trends improved compared to
the first quarter of fiscal 2022 and the integration of our
acquired Ohio broadband systems
continues to proceed according to plan."
"We recently published our ESG and Sustainability Report, which
will henceforth be published annually, where we provide an update
of our environmental, social and governance (ESG) performance
indicators and other information related to our sustainability
strategy. We are committed to continually enhance our
sustainability program through the implementation of ESG best
practices, which earned us again this year a place on the Corporate
Knights Global 100 Most Sustainable Companies list," concluded Mr.
Jetté.
FISCAL 2022 REVISED FINANCIAL GUIDELINES
Overall, Cogeco Communications' financial results for the first
half of fiscal 2022 were as expected in its annual financial
guidelines, issued on November 11, 2021. However, as the
Corporation expects in the second half of fiscal 2022 lower
acquisition of property, plant and equipment than initially planned
and a corresponding increase in projected free cash flow, the
Corporation revised its fiscal 2022 financial guidelines. On a
constant currency and consolidated basis, revenue and adjusted
EBITDA projections are expected to remain the same as previously
issued. Revised projections for acquisition of property, plant and
equipment amount to between $720 and
$750 million, including those related
to the Ohio broadband systems
integration and net investments of approximately $180 to $200
million in network expansion projects in Canada and the
United States. Free cash flow is expected to decrease
between 13% and 23% compared to the previous fiscal year, which is
a lesser decline than under the previous financial guidelines.
Excluding the fiscal year 2022 network expansion projects, free
cash flow on a constant currency and consolidated basis would
otherwise increase between 16% and 26% compared to the previous
fiscal year.
COVID-19 PANDEMIC
While the impact of the COVID-19 pandemic on the Corporation is
generally stabilizing, we remain cautious in our management of the
situation which can evolve quickly. Our priority remains on
ensuring the well-being of our employees, customers and business
partners.
The pandemic has generally highlighted the value of the services
we offer, especially our high-speed Internet services, as customers
have been spending more time at home for work, education and
entertainment purposes. We have generally witnessed strong demand
initially for either obtaining or upgrading speeds of high-speed
Internet, along with reduced operating costs due to a stable
customer base and not being able to use all usual sales channels.
However, operations have generally been conducted in a normal
fashion during the recent quarters.
The pandemic has also accelerated the willingness of various
governments to support access to high-speed Internet in underserved
and unserved areas by providing subsidies to partially pay for
network expansions in such areas. The Corporation has partnered
with governments in both Canada
and the United States in such
endeavor and expects to do more in the years to come.
The Corporation's results discussed herein may not be indicative
of future operational trends and financial performance. Please
refer to the "Forward-looking statements" section.
FINANCIAL HIGHLIGHTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
February 28,
|
|
Six months ended
February 28,
|
|
|
2022
|
2021
|
Change
|
Change in
constant
currency
|
(1)
(2)
|
Foreign
exchange
impact
|
(1)
|
2022
|
2021
|
Change
|
Change in
constant
currency
|
(1)
(2)
|
Foreign
exchange
impact
|
(1)
|
(In thousands of
Canadian dollars,
except percentages and per
share data)
|
$
|
$
|
%
|
%
|
|
$
|
|
$
|
$
|
%
|
%
|
|
$
|
|
Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
728,549
|
634,548
|
14.8
|
15.0
|
|
(1,007)
|
|
1,447,090
|
1,253,461
|
15.4
|
16.9
|
|
(18,693)
|
|
Adjusted EBITDA
(2)
|
349,087
|
306,994
|
13.7
|
13.8
|
|
(410)
|
|
698,374
|
618,087
|
13.0
|
14.4
|
|
(8,442)
|
|
Adjusted EBITDA
margin (2)
|
47.9
|
%
|
48.4
|
%
|
|
|
|
|
|
48.3
|
%
|
49.3
|
%
|
|
|
|
|
|
Integration,
restructuring and acquisition costs (3)
|
1,451
|
2,330
|
(37.7)
|
|
|
|
|
20,086
|
3,545
|
—
|
|
|
|
|
Profit for the
period
|
119,911
|
110,559
|
8.5
|
|
|
|
|
236,521
|
225,455
|
4.9
|
|
|
|
|
Profit for the period
attributable to owners of the Corporation
|
111,275
|
102,936
|
8.1
|
|
|
|
|
218,112
|
209,615
|
4.1
|
|
|
|
|
Cash
flow
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
operating activities
|
281,199
|
231,166
|
21.6
|
|
|
|
|
568,144
|
472,891
|
20.1
|
|
|
|
|
Acquisition of
property, plant and equipment (4)
|
142,195
|
115,214
|
23.4
|
23.6
|
|
(265)
|
|
283,223
|
231,436
|
22.4
|
24.4
|
|
(4,717)
|
|
Free cash flow
(2)
|
153,000
|
142,768
|
7.2
|
7.2
|
|
(50)
|
|
285,111
|
283,384
|
0.6
|
1.0
|
|
(1,241)
|
|
Capital intensity
(2)
|
19.5
|
%
|
18.2
|
%
|
|
|
|
|
|
19.6
|
%
|
18.5
|
%
|
|
|
|
|
|
Financial
condition (5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
|
|
|
|
|
178,192
|
365,520
|
(51.2)
|
|
|
|
|
Total
assets
|
|
|
|
|
|
|
|
8,907,266
|
7,351,692
|
21.2
|
|
|
|
|
Indebtedness (2)
(6)
|
|
|
|
|
|
|
|
4,684,887
|
3,319,708
|
41.1
|
|
|
|
|
Equity attributable
to owners of the Corporation
|
|
|
|
|
|
|
|
2,563,605
|
2,415,144
|
6.1
|
|
|
|
|
Per share data
(7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
2.40
|
2.16
|
11.1
|
|
|
|
|
4.69
|
4.39
|
6.8
|
|
|
|
|
Diluted
|
2.38
|
2.14
|
11.2
|
|
|
|
|
4.65
|
4.36
|
6.7
|
|
|
|
|
Dividends
|
0.705
|
0.64
|
10.2
|
|
|
|
|
1.41
|
1.28
|
10.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Key performance
indicators presented on a constant currency basis are obtained by
translating financial results from the current periods denominated
in US dollars at the foreign exchange rates of the comparable
periods of the prior year. For the three and six-month periods
ended February 28, 2021, the average foreign exchange rates
used for translation were 1.2744 USD/CDN and 1.2957 USD/CDN,
respectively.
|
(2)
|
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 this press release, including
reconciliation to the most comparable IFRS financial
measures.
|
(3)
|
For the three and
six-month periods ended February 28, 2022, integration,
restructuring and acquisition costs resulted mostly from costs
incurred in connection with the acquisition, completed on
September 1, 2021, and ongoing integration of the Ohio
broadband systems. For the three and six-month periods ended
February 28, 2021, integration, restructuring and acquisition
costs resulted mostly from the acquisition and integration of
DERYtelecom, which was completed on December 14, 2020.
|
(4)
|
For the three and
six-month periods ended February 28, 2022, acquisition of
property, plant and equipment in constant currency amounted to
$142.5 million and $287.9 million, respectively.
|
(5)
|
At February 28,
2022 and August 31, 2021.
|
(6)
|
Indebtedness is
defined as the total of bank indebtedness and principal on
long-term debt.
|
(7)
|
Per multiple and
subordinate voting share.
|
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 regarding
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 strategies" and "Fiscal 2022 financial guidelines"
sections of the Corporation's 2021 annual MD&A and the "Fiscal
2022 revised financial guidelines" of the current 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 competitive risks, business risks (including potential
disruption to our supply chain worsened by the increasing
instability resulting from the war in Ukraine, increasing transportation lead times,
scarcity of input materials and shortages of chipsets,
semi-conductors and key telecommunication equipment), regulatory
risks, technology risks (including cybersecurity), financial risks
(including variations in currency and interest rates), economic
conditions (including elevated inflation and a potential
recession), human-caused and natural threats to our network,
infrastructure and systems, community acceptance risks, ethical
behavior risks, ownership risks, litigation risks and public health
crisis and emergencies such as the COVID-19 pandemic, 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" sections of the
Corporation's 2021 annual MD&A and of the current 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 which
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 and six-month periods
ended February 28, 2022, the
Corporation's condensed interim consolidated financial statements
and the notes thereto for the same periods prepared in accordance
with International Financial Reporting Standards ("IFRS") and the
Corporation's 2021 Annual Report.
NON-IFRS FINANCIAL MEASURES
This section describes non-IFRS financial measures used by
Cogeco Communications throughout this press release. These
financial measures are reviewed in assessing the performance of the
Corporation and used in the decision-making process with regard to
its business units. Reconciliations between "adjusted EBITDA",
"adjusted EBITDA margin", "free cash flow", "capital intensity",
"indebtedness" and "net indebtedness" and the most comparable IFRS
financial measures are also provided. These financial measures do
not have standard definitions prescribed by IFRS and therefore, may
not be comparable to similar measures presented by other
companies.
This press release also makes reference to key performance
indicators on a constant currency basis, including revenue,
"adjusted EBITDA", acquisition of property, plant and equipment and
"free cash flow". Measures on a constant currency basis are
considered non-IFRS financial measures and do not have any
standardized meaning prescribed by IFRS and therefore, may not be
comparable to similar measures presented by other companies.
|
|
|
|
Non-IFRS financial
measures
|
Application
|
Calculation
|
Most comparable
IFRS financial measures
|
Adjusted
EBITDA
and
adjusted EBITDA
margin
|
Adjusted EBITDA and
adjusted EBITDA margin are key measures commonly reported and used
in the telecommunications industry, as they allow comparisons
between companies that have different capital structures and are
more current measures since they exclude the impact of historical
investments in assets. Adjusted EBITDA is one of the key metrics
employed by the financial community to value a business and its
financial strength.
Adjusted EBITDA for
Cogeco Communications' business units is equal to the segment
profit (loss) reported in Note 4 of the condensed interim
consolidated financial statements.
|
Adjusted
EBITDA:
- Profit for the
period
add:
- Income
taxes;
- Financial
expense;
- Depreciation and
amortization; and
- Integration,
restructuring and acquisition costs.
|
Profit for the
period
|
|
|
Adjusted EBITDA
margin:
- Adjusted
EBITDA
divided
by:
- Revenue.
|
No comparable IFRS
financial measure
|
Free cash
flow
|
Management and
investors use free cash flow to measure Cogeco Communications'
ability to repay debt, distribute capital to its shareholders and
finance its growth.
|
Free cash
flow:
- Adjusted
EBITDA
add:
- Amortization of
deferred transaction costs and discounts on long-term
debt;
- Share-based
payment;
- Loss (gain) on
disposals and write-offs of property, plant and equipment;
and
- Defined benefit
plans expense, net of contributions;
deduct:
- Integration,
restructuring and acquisition costs;
- Financial
expense;
- Current income
taxes;
- Acquisition of
property, plant and equipment (1); and
- Repayment of lease
liabilities.
|
Cash flows from
operating activities
|
Constant currency
basis
|
Revenue, operating
expenses, adjusted EBITDA, acquisition of property, plant and
equipment and free cash flow are measures presented on a constant
currency basis to enable an improved understanding of the
Corporation's underlying financial performance, undistorted by the
effects of changes in foreign exchange rates.
|
Constant currency
basis is obtained by translating financial results from the current
periods denominated in US dollars at the foreign exchange rates of
the comparable periods of the prior year.
|
No comparable IFRS
financial measure
|
Capital
intensity
|
Capital intensity is
used by Cogeco Communications' management and investors to assess
the Corporation's investment in capital expenditures in order to
support a certain level of revenue.
|
Capital
intensity:
- Acquisition of
property, plant and equipment (1)
divided
by:
- Revenue.
|
No comparable IFRS
financial measure
|
|
|
|
|
(1)
|
Excludes the non-cash
acquisition of right-of-use assets and the purchases of spectrum
licences.
|
|
|
|
|
Non-IFRS financial
measures
|
Application
|
Calculation
|
Most comparable
IFRS financial measures
|
Indebtedness and net
indebtedness
|
Indebtedness and net
indebtedness are measures used by management and investors to
assess Cogeco Communications' financial leverage, as they represent
the debt and the debt net of the available cash and cash
equivalents, respectively.
|
Indebtedness:
add:
- Principal on
long-term debt; and
- Bank
indebtedness.
|
Long-term debt,
including the current portion
|
|
|
Net
indebtedness:
-
Indebtedness
deduct:
- Cash and cash
equivalents.
|
|
|
|
|
|
ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN
RECONCILIATION
The reconciliation of adjusted EBITDA to the most comparable
IFRS financial measure and the calculation of adjusted EBITDA
margin are as follows:
|
|
|
|
|
|
Three months ended
February 28,
|
Six months ended
February 28,
|
|
2022
|
2021
|
2022
|
2021
|
(In thousands of
Canadian dollars, except percentages)
|
$
|
$
|
$
|
$
|
Profit for the
period
|
119,911
|
110,559
|
236,521
|
225,455
|
Income
taxes
|
32,721
|
35,412
|
50,171
|
70,934
|
Financial
expense
|
44,979
|
31,839
|
89,934
|
67,049
|
Depreciation and
amortization
|
150,025
|
126,854
|
301,662
|
251,104
|
Integration,
restructuring and acquisition costs
|
1,451
|
2,330
|
20,086
|
3,545
|
Adjusted
EBITDA
|
349,087
|
306,994
|
698,374
|
618,087
|
Revenue
|
728,549
|
634,548
|
1,447,090
|
1,253,461
|
Adjusted EBITDA
margin
|
47.9
|
%
|
48.4
|
%
|
48.3
|
%
|
49.3
|
%
|
|
|
|
|
|
FREE CASH FLOW RECONCILIATION
The reconciliation of free cash flow to the most comparable IFRS
financial measure is as follows:
|
|
Three months ended
February 28,
|
Six months ended
February 28,
|
|
2022
|
2021
|
2022
|
2021
|
(In thousands of
Canadian dollars)
|
$
|
$
|
$
|
$
|
Cash flows from
operating activities
|
281,199
|
231,166
|
568,144
|
472,891
|
Amortization of
deferred transaction costs and discounts on long-term
debt
|
2,993
|
2,323
|
5,915
|
4,601
|
Changes in other
non-cash operating activities
|
22,544
|
19,953
|
9,370
|
25,315
|
Income taxes
paid
|
4,701
|
16,529
|
30,061
|
58,310
|
Current income
taxes
|
(10,786)
|
(18,373)
|
(25,349)
|
(38,235)
|
Interest
paid
|
40,554
|
39,278
|
72,153
|
61,130
|
Financial
expense
|
(44,979)
|
(31,839)
|
(89,934)
|
(67,049)
|
Acquisition of
property, plant and equipment
|
(142,195)
|
(115,214)
|
(283,223)
|
(231,436)
|
Repayment of lease
liabilities
|
(1,031)
|
(1,055)
|
(2,026)
|
(2,143)
|
Free cash
flow
|
153,000
|
142,768
|
285,111
|
283,384
|
|
|
|
|
|
CAPITAL INTENSITY RECONCILIATION
The calculation of capital intensity is as follows:
|
|
|
|
|
|
Three months ended
February 28,
|
Six months ended
February 28,
|
|
2022
|
2021
|
2022
|
2021
|
(In thousands of
Canadian dollars, except percentages)
|
$
|
$
|
$
|
$
|
Acquisition of
property, plant and equipment
|
142,195
|
115,214
|
283,223
|
231,436
|
Revenue
|
728,549
|
634,548
|
1,447,090
|
1,253,461
|
Capital
intensity
|
19.5
|
%
|
18.2
|
%
|
19.6
|
%
|
18.5
|
%
|
|
|
|
|
|
INDEBTEDNESS AND NET INDEBTEDNESS RECONCILIATION
The reconciliation of indebtedness and net indebtedness to the
most comparable IFRS financial measure is as follows:
|
|
|
|
At February 28,
2022
|
At August 31,
2021
|
(In thousands of
Canadian dollars)
|
$
|
$
|
Long-term debt,
including the current portion
|
4,626,208
|
3,272,216
|
Discounts,
transaction costs and other
|
58,679
|
43,032
|
Bank
indebtedness
|
—
|
4,460
|
Indebtedness
|
4,684,887
|
3,319,708
|
Cash and cash
equivalents
|
(178,192)
|
(365,520)
|
Net
indebtedness
|
4,506,695
|
2,954,188
|
|
|
|
ABOUT COGECO COMMUNICATIONS INC.
Rooted in the communities it serves, Cogeco Communications Inc.
(TSX: CCA) is a growing competitive force in the North American
telecommunications sector with a legacy of 65 years. Through its
business units Cogeco Connexion and Breezeline (formerly Atlantic
Broadband), Cogeco Communications provides Internet, video and
phone services to 1.6 million residential and business customers in
Quebec and Ontario in Canada as well as in twelve states in
the United States. To learn more
about Cogeco Communications' growth strategy and its commitment to
support its communities, promote inclusive growth and fight climate
change, please visit us online at corpo.cogeco.com.
Conference
Call:
|
Thursday, April
14, 2022 at 11:00 a.m. (Eastern Time)
|
|
|
|
A live audio webcast
will be available on Cogeco Communications' website at
https://corpo.cogeco.com/cca/en/investors/investor-relations/.
Members of the financial community will be able to access
the conference call and ask questions. Media representatives may
attend as listeners only. The webcast will be available on
Cogeco Communications' website for a three-month period.
|
|
|
|
Please use the
following dial-in number to have access to the conference call 5 to
10 minutes before the
start of the conference:
|
|
|
|
Canada/United States
Access Number: 1-877-291-4570
|
|
International Access
Number: 1-647-788-4919
|
|
|
|
In order to join this
conference, participants are required to provide the operator with
the name of the company hosting the
call, that is, Cogeco Inc. or Cogeco Communications Inc.
|
For information:
Investors:
Patrice
Ouimet
Senior Vice President and Chief Financial Officer
Cogeco Communications Inc.
Tel.: 514-764-4700
patrice.ouimet@cogeco.com
Media:
Marie-Hélène Labrie
Senior Vice President and Chief Public Affairs, Communications and
Strategy Officer
Cogeco Communications Inc.
Tel.: 514-764-4700
marie-helene.labrie@cogeco.com
SOURCE Cogeco Communications Inc.