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Telus annual net profit climbs 35% as subscription take-up hits record levels

14 Feb 2022

Canada’s Telus Corporation reported that in the fourth quarter of 2021 its consolidated revenues increased by 20% year-on-year to CAD4.87 billion (USD3.82 billion), whilst it recognised a CAD410 million pre-tax gain arising from the disposition of its financial solutions business, excluding which consolidated revenue would have increased by 9.9%. Adjusted EBITDA grew 7.6% y-o-y in 4Q21 to CAD1.52 billion, and quarterly net income jumped 145% to CAD663 million. Telus highlighted total quarterly mobile (including M2M/IoT) net additions of 193,000, including 112,000 mobile phone net additions (25,000 higher y-o-y) and 81,000 ‘Connected Devices’ net additions. Wireline division subscription net additions of 79,000 represented its best Q4 growth figures on record, including 40,000 fixed internet additions, driven by expansion of the Telus ‘PureFibre’ network.

Full-year 2021 consolidated revenue rose 11.6% to CAD17.26 billion, with annual adjusted EBITDA and net income climbing 6.4% and 35% to CAD6.07 billion and CAD1.70 billion, respectively, with a record 960,000 annual net service subscription additions across mobile (including M2M/IoT) and wireline segments.

Canada, Telus Corporation

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