MONTREAL – Cogeco Inc. fourth-quarter revenue increased by 3.9%, to reach $524.5 million in the fourth quarter of fiscal 2014 (ended August 31st) mainly driven by growth in the cable and enterprise data services segment through the organic growth from all of our operating segments, the company announced Friday.
Fiscal 2014 revenue reached $2.1 billion, an increase of 14.3%, “mainly attributable to the full year impact of the acquisitions, in the cable and enterprise data services segment, of Atlantic Broadband and Peer 1 Hosting which both occurred during fiscal 2013 combined with the organic growth from all of our operating segments and the favorable foreign exchange rates in our foreign operations,” says the press release.
Adjusted EBITDA increased by 2.1% to $229.3 million compared to the fourth quarter of fiscal 2013, and by 13.7% to $908.3 million compared to the prior year. The progression for both periods resulted mainly from the recent acquisitions and the organic growth as well as the favorable foreign exchange rates.
Q4 2014 profit came to $59.2 million, compared to Q4 2013’s profit of $43.8 million. The increase is mostly attributable to the improvement of adjusted EBITDA combined with the decreases in integration, restructuring and acquisitions costs and in financial expense, says the release.
Fiscal 2014 profit for the year amounted to $210.2 million, compared to 2013 profit of $189.8 million.
Fourth-quarter free cash flow, however, decreased by $35.2 million to reach $18.1 million compared to $53.4 million in the comparable quarter of the prior year. The decrease for the period is mostly attributable to the increase in acquisition of property, plant and equipment due to the timing of certain initiatives that were delayed in the prior quarters of fiscal 2014, says the release.
Fiscal 2014 free cash flow increased by $123.2 million to reach $273.7 million compared to $150.5 million in fiscal 2013. The increase is mostly attributable to the improvement of adjusted EBITDA and the decrease in integration, restructuring and acquisition costs, partly offset by the increase in acquisitions of property, plant and equipment
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