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Shaw quarterly sales decline 1.2%

16 Jan 2023

Total revenue at Canadian quadruple-play telecoms group Shaw Communications dropped 1.2% year-on-year to CAD1.370 billion (USD1.023 billion) in the three months ended 30 November 2022 (the first quarter of its fiscal year 2022/23). Quarterly adjusted EBITDA fell 2.5% to CAD617 million, while net income decreased by 14.3% to CAD168 million.

In the quarter, the group added 13,800 net new mobile subscriptions – including the Freedom Mobile and Shaw Mobile brands – consisting primarily of 12,300 pre-paid and 1,500 post-paid subscriptions, with the report noting lower y-o-y additions at Shaw Mobile, higher churn, and increased competitive intensity. Mobile service revenue increased 5.4% y-o-y to CAD252 million due to continued subscription growth, partially offset by lower ARPU which decreased 1.0% y-o-y to CAD36.58. Mobile post-paid churn increased 19-basis points y-o-y to 1.89%. Quarterly total mobile revenue increased 3.9% to CAD345 million and adjusted mobile EBITDA improved 11.0% to CAD121 million.

Consumer Wireline division RGU losses of 52,800 during the quarter represented an improvement on the year-ago quarter, led by fixed broadband additions of 10,800, alongside fewer TV/video and fixed telephony losses. In the Business segment, positive fixed internet and satellite RGU additions were only partly offset by declines in fixed voice and video, resulting in Business Wireline RGUs increasing by 3,300. Wireline revenue and adjusted EBITDA decreased 2.7% and 5.3% to CAD1.03 billion and CAD496 million, respectively. Consumer revenue of CAD867 million decreased 3.2% compared to the prior year as growth in fixed internet sales was offset by declines in video, satellite and fixed voice. Business revenue of CAD161 million was approximately flat y-o-y.

Canada, Freedom Mobile (part of Shaw), Shaw Communications

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