Bell Canada Q4 revenues climb 1.8%

4 Feb 2022

Bell Canada reports that its Q4 2021 consolidated revenues climbed 1.8% year-on-year to CAD6.209 billion (USD4.894 billion), with consolidated quarterly adjusted EBITDA growth of 1.1% to CAD2.430 billion on 3.0% higher service revenues. The group noted that it reached 99% of pre-COVID 2019 revenue and adjusted EBITDA levels by the end of the year. Net earnings of CAD658 million for October-December 2021 were down 29.4% compared to a year earlier.

Mobile division service revenue growth reached 6.3% in 4Q21, with 5.3% higher adjusted EBITDA y-o-y and a 3.3% increase in mobile phone blended ARPU, as Bell added 109,726 net mobile phone subscriptions in the quarter, up 77.8% y-o-y, reflecting pent-up customer demand after consumer activity was impacted in 2020 by COVID-19 restrictions. Bell added 47,618 net retail fixed broadband internet subscriptions in 4Q21, up 7.0% compared to 4Q20, driven by the accelerated buildout of its all-fibre and Wireless Home Internet (WHI) service footprints, and fewer deactivations.

Bell surpassed its 2021 network expansion targets, covering approximately 1.1 million additional premises with a mixture of direct fibre and WHI during the year, while also passing one million total premises with its WHI footprint a year ahead of schedule. For 2022 Bell announced a second year of capital expenditure acceleration that will extend fibre to up to 900,000 more premises. Furthermore, in Q4 Bell met its objective to cover more than 70% of the Canadian population with 5G mobile network services, with expansion to Prince Edward Island among its most recent projects.

Canada, Bell Canada Enterprises (BCE)