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Cogeco Connexion boosts quarterly revenues 10.1%

Canadian cableco Cogeco Connexion increased its revenues by 10.1% year-on-year to CAD355 million (USD282 million) in the three months ended 28 February 2021, as a result of the DERYtelecom acquisition completed in December 2020, the cumulative effect of sustained demand for residential high speed internet since the beginning of the pandemic, and rate increases implemented for certain services, partly offset by a decline in video service customers. Excluding the acquisition of DERYtelecom, revenue increased by 2.9%. Quarterly EBITDA increased by 11.2% y-o-y to CAD190 million (increasing 4.7% if excluding DERYtelecom). Broadband internet customers reached 905,321 at the end of the period following net (organic) additions of 4,431 during the three months, compared to the reported totals of 815,248 at the end of the previous quarter and 795,950 at end-February 2020. 

Thanks to TeleGeography for this industry update.

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