Cogeco Câble inc.

December 13, 2007 16:15 ET

Strong Clientele and Net Income Growth for Cogeco Cable in Fiscal 2007

MONTREAL, QUEBEC--(Marketwire - Dec. 13, 2007) - For fiscal year 2007, Cogeco Cable (TSX:CCA) 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(1) (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 indebtedness.

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.


Cogeco Cable (, 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, Quebec 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).

(1) Revenue-generating units represent the sum of Basic Cable, Digital Television, High Speed Internet and Telephony service customers

Contact Information

  • Media:
    Cogeco Cable Inc.
    Marie Carrier
    Director, Corporate Communications