Cogeco’s nine-month revenues up 28.2%

15 Jul 2013

Canadian cableco Cogeco has posted fiscal 2013 third-quarter revenue of CAD464.5 million (USD446.7 million), an increase of 45.3% year-on-year, while nine-month turnover to the end of May was up 28.2% to CAD1.2 billion, driven by acquisitions made in the US and Canada during the fiscal year (ending August 2013) plus rate increases in June/July 2012 in the Canadian cable services segment. Having offloaded its Portuguese cable subsidiary Cabovisao in February 2012, it acquired US cableco Atlantic Broadband in July 2012 and Vancouver-based data centre operator PEER 1 in December 2012. Group fiscal 2013 third-quarter operating income before depreciation and amortisation (OIBDA) increased by 40.9% to CAD215.1 million, and by 30.3%, to reach CAD558.0 million in the nine-month period, Cogeco reported. In Canadian cable services, Cogeco’s basic TV customers are on the slide, totaling 845,000 at the end of May, down by 20,000 in a year, although Canadian high speed cable internet subscribers rose by 21,000 to 650,000 in the same period.

Canada, Cogeco Connexion