WINNIPEG – MTS Allstream saw full-year revenue growth for the first time since 2005, and achieved guidance for revenue, EBITDA, earnings per share, capital expenditures and free cash flow from continuing operations in its fiscal 2008.
Full-year revenue from continuing operations for the year ending December 31, 2008, increased by 0.8% to $1,921.5 million, EBITDA from continuing operations increased by 1.0% to $661.8 million, and free cash flow from continuing operations was up 1.1% to $261.3 million.
"MTS Allstream delivered solid results in 2008 as we continued to execute on our strategy," said CEO Pierre Blouin, in a press release announcing the results. "The company achieved its guidance on the strength of continued performance by our Consumer Markets division in Manitoba and a record level of new contract wins by our Enterprise Solutions division”.
Growth services revenues, which include wireless, high-speed Internet, digital television, converged Internet protocol and unified communications services, increased by 11.3% to $845.4 million for the year.
Wireless revenues increased by 7.7% and customers grew by 10.2% year over year to 434,776 subscribers. Digital television revenues increased by 17.2% or $7.3 million to $49.7 million for the year, and the customer base increased by 10.1% to reach 84,544. Consumer high-speed Internet services saw revenue increase 19.2% and customers increasing by 6.3% for the year, as compared to 2007.
The company also achieved annualized cost savings of $29.7 million in 2008, “reaching the high end of its objective” for the year.
