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Rogers Q1 revenues climb 2%, driven by fixed broadband growth

Canadian fixed and mobile operator Rogers Communications' total revenue reached CAD3.488 billion (USD2.780 billion) in Q1 2021, up 2% from CAD3.416 billion reported in Q1 2020. Total service revenue dropped by 1% year-on-year to CAD3.021 billion, as Wireless division turnover fell slightly from CAD2.077 billion in 1Q20 to CAD2.074 billion in the latest quarter, but the Cable division reported a 5% y-o-y revenue improvement to CAD1.020 billion. Rogers' Media segment also saw revenue growth of 7% to CAD440 million in January-March 2021. Group quarterly EBITDA climbed 4% to CAD1.391 billion and three-month net income was 3% higher y-o-y at CAD361 million. Rogers reduced its Q1 CAPEX by 18% to CAD484 million.

Rogers' mobile post-paid subscribers totalled 9.727 million at 31 March 2021, up 295,000 y-o-y, while its pre-paid subscribers fell 132,000 in the same period to 1.204 million. A 6% y-o-y decrease in wireless service revenue resulted from lower roaming revenue, due to continued global travel restrictions and decreasing overage revenue as a result of strong customer adoption of Rogers Infinite unlimited data plans, as well as lower wireless data usage as customers spent more time at home on Wi-Fi during the pandemic. 27% growth in wireless equipment revenue in the quarter was driven by higher gross additions and device upgrades by existing customers, and the shift in product mix towards higher-value devices.

Cable broadband internet subscribers stood at 2.612 million at end-March, up 61,000 y-o-y. Cable service revenue growth of 5% was attributed to 'disciplined promotional activity and internet/legacy television service pricing changes in late 2020' alongside growing internet and new-generation 'Ignite TV' subscribers (the latter increasing by 185,000 y-o-y to 602,000, approaching roughly 45% of Rogers' total CATV base). Furthermore, Rogers expanded its cable broadband network footprint by 99,000 premises y-o-y to 4.599 million homes passed by the end of 1Q21.

Thanks to TeleGeography for this industry update.

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Friday, 18 June 2021

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