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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
|
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.
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.
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.
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.
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
|