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Telus Q4 revenues: wireline up, wireless down

Canada's Telus Corporation announced its results for the fourth quarter of 2020, with consolidated revenues increasing by 5.2% year-on-year to CAD4.06 billion (USD3.20 billion). Wireless segment turnover decreased by 1.9% y-o-y in October-December 2020 on lower network (service) revenue and lower equipment/other revenue, but wireline division sales jumped 14%, driven by internet/data services. Q4 EBITDA decreased by 2.3% y-o-y to CAD1.34 billion, while net income fell 28.5% to CAD271 million, reflecting multiple impacts from the COVID-19 pandemic, declines in wireline legacy voice and legacy data services and higher employee benefits and other costs, including support for business acquisitions, partly offset by growth in wireline data service margins resulting from business acquisitions, expanded services and customer growth; growth in the wireless subscriber base; increased organic and inorganic EBITDA contribution from Telus International; and enhanced cost efficiency programmes.

Quarterly CAPEX reached CAD613 million, down 17.4% due to the timing of fibre build activities and efficiencies in 4G network expenditures, partially offset by increased investments in Telus' 5G network, in addition to investments to increase system capacity and reliability.

In the quarter, Telus added 87,000 new mobile phone accounts, 88,000 'mobile connected devices', 44,000 fixed internet subscribers and 20,000 TV customers, while it also noted 'low' three-month residential fixed voice line losses of 9,000.

At the end of December 2020 the Telus 'PureFibre' network reached approximately 2.5 million premises, up by around 300,000 fibre premises y-o-y, and the operator's 5G mobile network was available to 75 communities and over 28% of the Canadian population.

Thanks to TeleGeography for this industry update.

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