Telus 2Q EBITDA driven by wireless; beats Bell, Rogers contract user adds

Canadian full-service telco Telus Communications has reported consolidated net profit for the three months ended 30 June 2008 of CAD267 million (USD250 million), up from CAD253 million in the same quarter of 2007, on revenues that increased by 7.7% year-on-year to CAD2.40 billion. Consolidated second quarter EBITDA reached CAD918 million, up 3.7% from 2Q07. Fixed line and broadband revenues increased by 6.6% y-o-y to CAD1.29 billion, contributing EBITDA of CAD433 million (down by 0.3%), whilst wireless turnover climbed 9% in the same period to CAD1.15 billion, driving EBITDA up 7.6% to CAD485 million. Mobile operations were boosted by higher data revenues and the recent launch of Telus’s discount brand Koodo Mobile. The company said it added 176,000 net new wireless subscribers in the three-month period, including 157,000 post-paid users; this was higher than the 2Q contract user net additions reported by rivals Bell Canada and Rogers Communications – 111,000 and 92,000 respectively.