MONTREAL – On Thursday, Quebecor Inc. reported 2020 revenues of $4.32 billion, up 0.6% from 2019 while adjusted EBITDA climbed 3.9% to $1.95 billion.
Net income attributable to shareholders however, came in at $607.2 million, a decrease of $45.6 million while adjusted income from continuing operating activities was $594.5 million, an increase of $13.5 million.
Cash flow grew 14.7% to $1.31 billion.
The company’s telecommunications segment (a.k.a. Vidéotron) grew its revenues by $142.2 million (4.1%) and its adjusted EBITDA by $61 million (3.4%) in 2020. Videotron “significantly increased its revenues from customer equipment sales ($139.1 million or 51.6%), mobile telephony ($57.8 million or 9.6%), and Internet access ($17.1 million or 1.5%) in 2020,” reads the company’s press release.
Videotron’s total average billing per unit dipped a little to $49.94 in 2020 compared with $50 in 2019. Mobile ABPU was $50.85 in 2020, compared with $52.56 in 2019, a 3.3% decrease “due in part to a decrease in overage and roaming revenues caused by the Covid-19 public health crisis and the popularity of bring your own device plans,” says the release.
The company saw a net increase of 71,700 revenue generating units in 2020 (a 1.2% increase), including 150,600 connections (11.3%) to the mobile telephony service, 69,500 subscriptions (4%) to the Internet access service and 10,400 subscriptions (2.3%) to the Club illico over the top video service.
“Our prudent management of our operations and our balance sheet served us particularly well in 2020,” said president and CEO Pierre Karl Péladeau, in the release. “We controlled our operating costs and adjusted our capital expenditures for physical and intangible assets to maintain our industry leading status going forward while being prepared to deal with future challenges. At the same time, we were able to continue the roll out of our latest technological innovations. For example, our new Helix and Fizz services have been a resounding success, making a strong contribution to growing our customer base and our profitability.”
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