STRONG CLIENTELE AND NET INCOME GROWTH FOR COGECO CABLE IN FISCAL 2007
For immediate release
STRONG CLIENTELE AND NET INCOME GROWTH
FOR COGECO CABLE IN FISCAL 2007
Montréal, December 13, 2007 – For fiscal year 2007, Cogeco Cable reported strong operating and
positive financial results in both Canada and Portugal.
Improved key performance indicators
Key performance indicators were up and sustained customer growth was achieved. Thus,
consolidated revenue grew 51.4% to $939 million, consolidated operating income before amortization
increased 46.6% to $371 million, consolidated net income amounted to $85 million up 29.2% and
free cash flow reached $31 million. Strong revenue-generating unit
(RGU) growth continued with
301,000 net additions or 13.8% growth to reach 2,485,665 RGUs on August 31, 2007.
Stronger balance sheet
During fiscal 2007, the Corporation completed two public offerings for a total issuance of 8,000,000
subordinate voting shares for a combined gross proceed of $346 million. These offerings resulted in
net proceeds to Cogeco Cable of approximately $331 million, which were used to reduce long-term
New Canadian Structure
In September, a new Canadian operational structure was put in place to enable stronger synergies
throughout the Corporation’s Canadian operations.
“In 2007, the relevance of our strategy has been recognized by the financial markets and the stock
has continued to perform very well. Our new management structure will enable the Canadian
operations to develop better synergies and therefore will have a positive impact in the way we deliver
our services. Our balance sheet is solid and all sectors of the enterprise are aiming to continue to
create value for our customers and shareholders. We are looking forward to achieving a strong fiscal
2008,” said Louis Audet, President and CEO of Cogeco Cable.
Revenue-generating units represent the sum of Basic Cable, Digital Television, High Speed Internet and Telephony service customers
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ABOUT COGECO CABLE
Cogeco Cable (www.cogeco.ca), a telecommunications company offering a diverse range of services
to its customers in Canada and in Portugal, is the second largest cable operator in Ontario, Québec
and Portugal, in terms of the number of Basic Cable service customers served. Through its two-way
broadband cable networks, Cogeco Cable provides its residential and commercial customers with
Analogue and Digital Television, High Speed Internet and Telephony services. The Corporation
provides 2,485,665 revenue-generating units (RGUs) to 2,343,466 homes passed in its Canadian
and Portuguese service territories. Cogeco Cable’s subordinate voting shares are listed on the
Toronto Stock Exchange (TSX: CCA).
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Director, Corporate Communications
Tel.: (514) 874-2600