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Telus posts 3.6% Q2 sales rise, although EBITDA falls 1.0% on COVID-19 factors

Canadian quadruple-play operator Telus reported that in the second quarter of 2020 its consolidated operating revenue increased by 3.6% year-on-year to CAD3.728 billion (USD2.779 billion), while EBITDA decreased by 1.0% to CAD1.359 billion and net income attributable to shareholders dropped 43.9% to CAD290 million for the April-June period. Telus noted significant financial impacts arising from the COVID-19 pandemic, primarily from lower wireless roaming revenue, partly offset by: growth in wireline data service margins resulting from business acquisitions, expanded services and subscriber base growth, an increased EBITDA contribution from its Telus International (TI) business, and numerous enhanced cost efficiency programs. Closure of borders and the corresponding decline in customer travel alongside Telus waiving roaming fees up to 30 April caused a significant decrease in roaming revenues, whilst the telco also experienced decreases in chargeable wireless data usage as more people remained at home and connected their mobile devices to Wi-Fi networks. Additionally, in the current economic environment, B2B customers are facing reduced and/or closed operations, which resulted in lower revenue and EBITDA contribution in the quarter. During the final weeks of the quarter Telus' retail stores began reopening, and technicians began entering customers' premises in cases of complex installs/repairs which could not be done virtually.

In its results announcement, Telus said it remained committed to a plan to expand 5G mobile network services to an additional 26 markets across Canada by the end of 2020, following its initial launch in June in Vancouver, Montreal, Calgary, Edmonton and the Greater Toronto Area.

Thanks to TeleGeography for this industry update.

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Monday, 28 September 2020

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