Earnings outWarning... big spending plans for FY22. And that's not even factoring what they may do with the spectrum they bough a few months back. On the plus side they bumped up the dividend.
>>>FISCAL 2022 REVISED FINANCIAL GUIDELINES Cogeco Communications revised its fiscal 2022 preliminary financial guidelines as issued on July 14, 2021 giving effect to the impact of the acquisition of the Ohio broadband systems, which was completed on September 1, 2021. In fiscal 2022, on a constant currency basis, the Corporation expects to grow revenue between 15% and 17%, and adjusted EBITDA, between 14% and 16%. Acquisition of property, plant and equipment should amount to between $815 and $845 million, including those related to the Ohio broadband systems integration, and net investments of approximately $230 to $240 million in network expansions in Canada and the United States. As a result of these growth initiatives, free cash flow is expected to decrease between 33% and 43%. Excluding the fiscal year 2022 network expansion projects, free cash flow on a constant currency and consolidated basis would otherwise increase between 5% and 15%.
>>>Revenue increased by 4.5% (8.1% in constant currency (1)) compared to the same period of the prior year to reach $632.7 million;
Adjusted EBITDA (1) reached $290.6 million, a decrease of 1.3% (increase of 1.7% in constant currency (1)) compared to the same period of the prior year;
Profit for the period amounted to $103.4 million, an increase of 7.5%;
Free cash flow (1) amounted to $71.4 million, a decrease of 35.9% (37.7% in constant currency (1)) compared to the same period of the prior year due to accelerated purchases of equipment;
Cash flows from operating activities increased by 10.5% to reach $281.5 million;
Cogeco Connexion has secured 38 spectrum licences in the 3500 MHz band auction, for a total purchase price of $295 million;
Fiscal 2022 preliminary financial guidelines were revised following the acquisition of the Ohio broadband systems; and
A quarterly eligible dividend of $0.705 was declared, compared to $0.64 last year.
https://corpo.cogeco.com/cca/en/press-room/press-releases/cogeco-communications-releases-its-financial-results-fourth-quarter-fiscal-2021/