Cogeco Connexion’s fiscal second quarter revenues fall 1.4%

Canadian triple-play cableco Cogeco Connexion – which operates a HFC network covering 1.8 million homes in Ontario and Quebec – reported that revenues for its fiscal second quarter ending 29 February 2020 fell by 1.4% year-on-year to CAD322.2 million (USD229.6 million) mainly due to a continuing decline in pay-TV customers, partly offset by growth in internet subscribers and customers’ transition to higher value packages. Quarterly EBITDA dropped by 2.5% y-o-y to CAD170.4 million while CAPEX was up by 20.4% on higher costs related to expansion of network infrastructure and the upcoming launch of Cogeco’s new IPTV platform. Internet customers reached 795,950 at end-February, up by 10,946 in twelve months, and fixed IP telephony subscribers increased by 6,121 y-o-y to 377,357, while video (TV) service customers fell by 29,938 to 638,833.