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Telecommunications Service in Canada: An Industry Overview

Section 5: Company Financial Profiles

5.5 Financial Profiles of Communications Services Companies

Table 5.5-1 provides financial information for the major publicly-traded telecommunications service and broadcast distribution providers for 2002 and 2003.

Table 5.5-1 Selected Communications Services Companies Year-end Financial Results, 2002 and 2003 (In millions of dollars unless otherwise indicated)

BCE Inc.
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
BCE Inc.	2002	19,186	11,831	7,355	3,082	1,778	3,731
	2003	19,056	11,630	7,426	3,147	1,845	3,179
	12 month change	(0.7)%	(1.7)%	1.0%	2.1%	3.8%	(14.8)%
Bell Canada	2002	17,102	10,023	7,079	2,894	Not available	3,390
	2003	16,698	9,697	7,001	2,970	2,268	2,892
	12 month change	(2.4)%	(3.3)%	(1.1)%	2.6%	Not applicable	(14.7)%
Télébec & NorthernTel Limited Partnerships (Note 1)	2002	227.9	111.7	116.2	39.6	55.5	34.8
	2003	331.1	161.7	169.4	55.1	86.6	48.0
	12 month change	Not applicable	Not applicable	Not applicable	Not applicable	Not applicable	Not applicable
Northwestel Inc.	2002	144.2	109.6	34.6	32.2	13.2	41.1
	2003	146.7	113.3	33.4	35.6	16.0	45.5
	12 month change	1.7%	3.4%	(3.5)%	10.6%	21.2%	10.7%

Aliant Inc.
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Aliant Inc.	2002	2,046	1,211	835.9	385.6	151.7	376.2
	2003	2,069	1,240	829.4	390.6	194.6	335.8
	12 month change	1.1%	2.4%	(0.8)%	1.3%	28.5%	(10.7)%
Aliant Telecom Inc.	2002	1,743	911.1	832.1	365.0	224.1	363.2
	2003	1,752	936.7	814.9	373.7	209.4	322.4
	12 month change	0.5%	2.8%	(2.1)%	2.4%	(6.5)%	(11.2)%

Manitoba Telecom Services Inc. (MTS)
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Manitoba Telecom Services Inc. (MTS)	2002	927.3	741.6	410.1	224.4	162.5	222.2
	2003	844.7	626.1	443.3	224.7	85.8	208.1
	12 month change	(8.9)%	(15.6)%	8.1%	0.1%	(47.2)%	(6.3)%
MTS Communications Inc.	2002	781.5	Not available	415.5	211.1	Not available	207.3
	2003	791.9	Not available	428.8	219.5	Not available	201.8
	12 month change	1.3%	Not applicable	3.2%	4.0%	Not applicable	(2.7)%

Allstream Inc.
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Allstream Inc.	2002	1,488	2,555	(1,067)	273.1	1,832	143.9
	2003	1,301	1,035	265.9	119.1	295.4	94.1
	12 month change	(12.6)%	(59.5)%	124.9%	(56.4)%	(83.9)%	(34.6)%

TELUS Corporation
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
TELUS Corporation	2002	7,007	4,488	2,519	1,570	(229.0)	1,698
	2003	7,146	4,302	2,844	1,653	331.5	1,253
	12 month change	2.0%	(4.1)%	12.9%	5.3%	244.8%	(26.2)%
TELUS Communications Inc.	2002	6,134	3,856	2,278	1,368	(90.5)	1,447
	2003	6,435	3,774	2,661	1,425	516.5	1,078
	12 month change	4.9%	(2.1)%	16.8%	4.2%	670.7%	(25.5)%
TELUS Communications (Québec) Inc.	2002	284.5	212.8	71.6	65.1	(11.1)	99.4
	2003	296.9	217.1	79.8	68.0	(4.0)	76.5
	12 month change	4.4%	2.0%	11.4%	4.4%	63.8%	(23.0)%

Saskatchewan Telecom Holding Corporation
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Saskatchewan Telecom Holding Corporation	2002	893.5	589.4	304.1	145.7	65.1	165.0
	2003	899.4	620.3	279.0	153.8	85.1	127.7
	12 month change	0.7%	5.3%	(8.2)%	5.6%	30.6%	(22.6)%
Saskatchewan Telecommunications	2002	821.5	552.0	269.5	129.9	137.8	157.0
	2003	814.9	571.2	243.7	137.8	109.9	119.3
	12 month change	(0.8)%	3.5%	(9.6)%	6.1%	(20.2)%	(24.0)%

Call Net Enterprises Inc.
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Call-Net Enterprises Inc. (Sprint Canada)	2002	800.7	752.9	47.8	162.1	(149.5)	78.4
	2003	805.3	707.5	97.8	156.8	(35.3)	44.1
	12 month change	0.6%	(6.0)%	104.6%	(3.3)%	76.4%	(43.8)%

Rogers Communications Inc.
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Rogers Communications Inc.	2002	4,323	3,181	1,142	981.5	312.0	1,262
	2003	4,847	3,398	1,449	1,040	129.2	963.7
	12-month change	12.1%	6.8%	26.9%	6.0%	(58.6)%	(23.6)%
Rogers Cable	2002	1,596	1,033	563.5	484.2	(58.8)	650.9
	2003	1,769	1,106	663.5	482.1	(54.8)	509.6
	12-month change	10.8%	7.1%	17.7%	(0.4)%	6.8%	(21.7)%
Rogers Wireless	2002	1,966	1,438	527.7	457.1	(90.7)	564.6
	2003	2,282	1,555	727.6	518.6	137.8	411.9
	12-month change	16.1%	8.1%	37.9%	13.4%	252.0%	(27.0)%

Microcell
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Microcell	2002	591.1	500.1	91.0	465.8	(570.5)	124.7
	2003	570.8	484.2	86.6	106.2	50.5	72.8
	12-month	(3.4)%	(3.2)%	(4.9)%	(77.2)%	108.8%	(41.6)%

Shaw Communications Inc. (Note 2)
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Shaw Communications Inc.	2002	1,914	1,282	632.7	573.8	(286.3)	743.6
	2003	2,077	1,256	820.6	586.2	(47.8)	257.7
	12-month change	8.5%	(2.0)%	29.7%	2.2%	83.3%	(65.3)%
Shaw Cable	2002	1,393	784.4	608.9	Not available	Not available	543.8
	2003	1,486	758.9	727.5	Not available	Not available	163.8
	12-month change	6.7%	(3.3)%	19.5%	Not applicable	Not applicable	(69.9)%

Corus Entertainment Inc. (Note 2)
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Corus Entertainment Inc.	2002	674.5	548.9	125.6	34.6	(168.6)	28.2
	2003	643.9	478.6	165.3	34.5	40.0	14.9
	12-month change	(4.5)%	(12.8)%	31.6%	(0.1)%	123.7%	(47.1)%

Cogeco Inc. (Note 2)
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Cogeco Inc.	2002	532.0	344.7	187.3	98.3	40.4	126.3
	2003	603.7	400.7	203.1	111.6	9.9	106.4
	12 month change	13.5%	16.2%	8.4%	13.6%	(75.5)%	(15.7%)
Cogeco Cable Inc.	2002	448.0	279.6	168.3	95.1	3.8	121.3
	2003	479.3	295.9	183.3	107.2	7.9	100.4
	12-month	7.0%	5.8%	8.9%	12.7%	108.0%	(17.3)%

Quebecor Inc.
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Quebecor Inc.	2002	12,064	10,086	1,978	753.5	83.2	425.3
	2003	11,222	9,639	1,583	731.9	66.4	473.1
	12-month change	(7.0)%	(4.4)%	(19.9)%	(2.9)%	(20.2)%	11.2%
Vidéotron ltée	2002	781.0	545.5	235.5	139.0	Not available	91.8
	2003	805.0	529.7	275.3	141.8	Not available	90.8
	12-month change	3.1%	(2.9)%	16.9%	2.0%	Not applicable	(1.1)%

Persona Inc. (Note 3)
Company	Year	Revenue	Operating Expenses	EBITDA	Dep. & Amort.	Net Income	Capital Exp.
Persona Inc.	2002	78.2	33.7	44.5	19.6	6.5	35.7
	2003	121.5	50.0	71.4	33.0	0.2	40.5
	12-month change	Not applicable	Not applicable	Not applicable	Not applicable	Not applicable	Not applicable

Endnotes

1. Télébec & NorthernTel Limited Partnerships' 2002 financial numbers are for the 253-day period ending December 31, 2002.

2. Financial data reflects fiscal year-end August 31.

3. Persona's financial results for 2002 reflect the twelve month period ended August 31, 2002. Financial results for 2003 relate to the sixteen month period ended December 31, 2003.

Dep. & Amort.-Depreciation and Amortization Expense; EBITDA-Earnings Before Interest, Taxes, Depreciation and Amortization; Capital Exp.-Capital Expenditures;

Figures may not add up due to rounding.

Source: Company financial information is taken from respective fiscal year-end financial statements (May 2004)

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		Created: 2005-04-12 Updated: 2005-06-09	Top of Page	Important Notices