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Cogeco's revenues rise 35% on acquisitions

12 Apr 2013

Canada’s Cogeco Cable has reported its results for the second quarter and first six months of its fiscal year 2013, which include three months operating results of its recent acquisition, US cableco Atlantic Broadband, and one month of results for internet infrastructure provider Peer 1 Network Enterprises. Group revenue increased by 35.2% year-on-year to reach CAD429.7 million in the three months to the end of February 2013, and by 19.7% to reach CAD757.6 million in the six-month period. Operating income before depreciation and amortisation (OIBDA) increased by 36.2% in fiscal Q2 to CAD195.8 million and by 24.4% to CAD342.9 million in the first half.

On 31 January 2013 Cogeco Cable completed the acquisition of 96.57% of the issued and outstanding shares of Peer 1 by way of a takeover bid valued at approximately CAD649 million. On 3 April 2013 Cogeco completed the acquisition of the remaining 3.43% of the issued and outstanding shares of Peer 1 for a cash consideration of CAD17 million pursuant to compulsory acquisition provisions.

Canada, Cogeco Connexion

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