COGECO Inc. Reports Strong Fiscal 2013 Financial Results
- Solid revenue and operating income before depreciation and amortization(1) increases in the fourth quarter and in fiscal year 2013, meeting revised financial guidelines - On target financial results from Cogeco Cable Inc.'s recent acquisitions Atlantic Broadband and Peer1 Network Enterprises Inc. ("PEER 1"); and - Quarterly dividend increase of 15.8%.
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 10/30/13 -- Today, COGECO Inc. (TSX: CGO) ("COGECO" or the "Corporation") announced its financial results for the fourth quarter and fiscal year 2013, ended August 31, 2013, in accordance with International Financial Reporting Standards ("IFRS").
For the fourth quarter and fiscal 2013, which include nine months operating results of Atlantic Broadband and seven months operating results of PEER 1:
"Fiscal 2013 proved to be a strong financial year for COGECO and its subsidiaries, during which good headway was made in positioning the business toward sustained profitable growth," stated Louis Audet, President & Chief Executive Officer of COGECO Inc.
"Our Cogeco Cable subsidiary completed two acquisitions that allowed the Corporation, on the one hand, to diversify its cable assets geographically and, on the other hand, build a stronger footprint in the promising data hosting and managed IT services market. As a logical aftermath to its evolving portfolio, Cogeco Cable regrouped its Canadian cable operations under a self- standing operational unit, a move that will better facilitate continued excellence in product innovation and customer service to the benefit of its Canadian Digital Television, Telephony and HSI customers. All of this, along with the successful refinancing that was completed during a period of low interest rates, should enhance Cogeco Cable's financial performance in fiscal 2014," continued Mr. Audet.
"Our Cogeco Diffusion subsidiary also fared well in fiscal 2013, having completed the full integration of Cogeco Metromedia. Today, we have the largest commercial talk radio network in the province of Quebec, attracting listeners who represent families among those with the highest per capita income profile very much sought after by advertisers. I am very pleased with our overall results and am optimistic about our ability to deliver on our 2014 projections with a steady performance our investors can count on," concluded Louis Audet.
Fiscal 2014 Financial Guidelines
COGECO revised its fiscal 2014 financial guidelines, as issued on July 10, 2013, as a result of certain adjustments related to the preliminary allocation of the purchase price of Atlantic Broadband and PEER 1 in the Cable segment. Please consult the "Fiscal 2014 financial guidelines" section of the Corporation's 2013 Annual Report for further details.
FINANCIAL HIGHLIGHTS
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to COGECO's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding the Corporation's future operating results and economic performance and its objectives and strategies are forward- looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which COGECO believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to the Corporation, they may prove to be incorrect. The Corporation cautions the reader that the economic downturn experienced over the past few years makes forward-looking information and the underlying assumptions subject to greater uncertainty and that, consequently, they may not materialize, or the results may significantly differ from the Corporation's expectations. It is impossible for COGECO to predict with certainty the impact that the current economic uncertainties may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties (described in the "Uncertainties and main risk factors" section of the Corporation's 2013 annual Management's Discussion and Analysis ("MD&A")) that could cause actual results to differ materially from what COGECO currently expects. These factors include risks pertaining to markets and competition, technology, regulatory developments, operating costs, information systems, disasters or other contingencies, financial risks related to capital requirements, human resources, controlling shareholder and holding structure, many of which are beyond the Corporation's control. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, the Corporation is under no obligation and does not undertake to update or alter this information at any particular time, except as may be required by law.
All amounts are stated in Canadian dollars unless otherwise indicated. This press release should be read in conjunction with the MD&A included in the Corporation's 2013 Annual Report, the Corporation's consolidated financial statements and the notes thereto, prepared in accordance with the International Financial Reporting Standards ("IFRS") for the year ended August 31, 2013
ADDITIONAL INFORMATION
Additional information relating to the Corporation, including its Annual Information Form, is available on the SEDAR website at .
The Corporation's 2013 Annual Report can also be found on:
A copy of this press release with a more detailed summary of results can be found at
ABOUT COGECO
COGECO is a diversified holding corporation. Through its Cogeco Cable subsidiary, COGECO provides to its residential and business customers Analogue and Digital Television, High Speed Internet and Telephony services. Cogeco Cable operates in Canada through its subsidiary Cogeco Cable Canada in Quebec and Ontario, and in the United States through its subsidiary Atlantic Broadband in Western Pennsylvania, South Florida, Maryland/Delaware and South Carolina. Through its subsidiary Cogeco Enterprise Services, the holding company of Cogeco Data Services and Peer 1 Network Enterprises, Cogeco Cable provides to its commercial customers, a suite of IT hosting, information and communications technology services (data centre, colocation, managed hosting, cloud infrastructure and connectivity), with 20 data centres, extensive fibre networks in Montreal and Toronto as well as points-of-presence in North America and Europe. Through its subsidiary Cogeco Diffusion, COGECO owns and operates 13 radio stations across most of Quebec with complementary radio formats serving a wide range of audiences as well as Cogeco News, its news agency. Through its subsidiary Metromedia, COGECO operates an advertising representation house specialized in the public transit sector that holds exclusive advertising rights in the Province of Quebec where it also represents its business partners active across other Canadian markets. COGECO's subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CGO). The subordinate voting shares of Cogeco Cable are also listed on the Toronto Stock Exchange (TSX: CCA). For more information about COGECO and its subsidiaries visit , cogecodiffusion.com and cogecometromedia.com.
Contacts:
Source:
COGECO Inc.
Pierre Gagne
Senior Vice President and Chief Financial Officer
514-764-4700
Information:
Media
Rene Guimond
Vice-President, Public Affairs and Communications
514-764-4700
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 31.10.2013 - 03:08 Uhr
Sprache: Deutsch
News-ID 311170
Anzahl Zeichen: 0
contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Internet
Diese Pressemitteilung wurde bisher 231 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"COGECO Inc. Reports Strong Fiscal 2013 Financial Results"
steht unter der journalistisch-redaktionellen Verantwortung von
COGECO Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
