VANCOUVER – While the pandemic had its effect, Telus still posted pretty robust fourth quarter results on Thursday.
The company announced 253,000 net customer additions for the three month period ended December 31st, which included wireline net additions of 78,000, “representing our best fourth quarter wireline loading on record,” says the release. Those wireline additions included 44,000 connected to its new Pure Fibre network.
Total wireless net additions came in at 175,000, including 87,000 mobile phone net additions, an increase of 17,000 on the prior year, and 88,000 mobile connected devices, up 28,000 on the prior year, reads the release
Consolidated operating revenues and other income increased by 5.2% in the quarter, compared to Q4 2019, to $4.1 billion. Earnings before interest, income taxes, depreciation and amortization (EBITDA) decreased by 2.3% to $1.3 billion while adjusted EBITDA was down 0.2%.
“This decline reflects multiple impacts from the Covid-19 pandemic, declines in wireline legacy voice and legacy data services and higher employee benefits and other costs, including support for business acquisitions,” reads the release.
“The quarter concluded another year of industry-leading customer growth, with 777,000 total net customer additions, including an all-time record for annual wireline customer growth of 240,000,” said CEO Darren Entwistle in the press release. “Notably, we achieved strong free cash flow for the year, within the range initially targeted in February 2020, and Telus was the only telecom provider amongst its national peers to report positive EBITDA growth for the year.
“The Telus team’s ability to consistently drive profitable growth over the long-term provides us with confidence in delivering on the annual targets for 2021 that we have announced today. This includes expected industry-leading revenue and EBITDA growth of up to 10% and 8% respectively, alongside free cash flow of approximately $1.5 billion,” he added.
For the full release, please click here.
