Telus posts slight revenue decrease in fourth quarter

15 Feb 2010

Canadian full-service telco Telus reported financial results for the fourth quarter of 2009 which it said were consistent with its most recent public guidance. It saw a slight year-on-year decrease in total revenue to CAD2.4 billion (USD2.3 billion), down by CAD11 million on the same period of 2008, reflecting continued declines in traditional voice services, which offset growth in data and wireless revenues. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 16% y-o-y to CAD790 million in October-December 2009, partly due to increased restructuring costs from an ongoing operational efficiency programme. Underlying EBITDA, ignoring restructuring and a rise in pension costs, decreased by 8%, whilst quarterly net income was CAD156 million, down by 45% y-o-y. In the three months to the end of December Telus added 105,000 net new customer connections as growth in wireless, pay-TV and high speed internet subscribers offset the decreases in traditional landline and legacy data connections. Total customer connections for the year increased by 284,000 to 11.96 million.

Canada, Telus Corporation, Telus Mobility (old)