CALGARY – Shaw Communications Inc. announced last Friday its fourth quarter and full year financial and operating results, which include increases in net income by 44% and 43% respectively.
“Consolidated revenue increased 2.1% year-over-year to $1.38 billion, adjusted EBITDA increased 3.4% year-over-year to $614 million and net income increased 44% to $252 million,” a press release says.
For fiscal 2021, Shaw reported revenue increased 1.9% to $5.5 billion and adjusted EBITDA grew 4.6% to $2.5 billion. Net income for 2021 increased 43.3% to $986 million.
In Q4, Shaw “added approximately 60,500 new Wireless customers,” the press release said. “Postpaid net additions of approximately 48,100 in the quarter were driven by the continued momentum of Shaw Mobile. Wireless service revenue growth of 10.4% is due to continued subscriber growth, partially offset by lower ARPU (average revenue per user).”
The company has continued “to scale its lower revenue Shaw Mobile customer base,” the release says. This has meant Q4 “Wireless ARPU decreased 5.7% from the prior year period to $37.39; however, an increase in customers signing up for bundled offerings and Internet migration to faster speed tiers continues to support Internet revenue growth.”
For fiscal 2021, Shaw added around 295,000 wireless customers, which means it now has a total customer base of over 2.1 million, the release says.
“Throughout the extraordinary change we have faced, the entire team at Shaw executed on our fiscal 2021 plan, ensuring that we continue to meet the needs of our customers,” said Brad Shaw, executive chair & CEO of Shaw, in the press release.
“In the months ahead, we remain committed to delivering exceptional customer experiences, investing in the strength of our networks and continued focus on execution of our strategic business priorities.”
Addressing the company’s pending deal with Rogers, which is currently embroiled in a battle over the membership of its board of directors, Shaw said: “As previously stated publicly, we reiterate our continued commitment to work with Rogers to close the transaction and it is not appropriate for Shaw to comment on recent events at Rogers.”
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