2017 performance at a glance

We are delivering solid results

Operations

+0.0%

Operating revenues

2017: $13.3 billion

2016: $12.8 billion


+0.0%

EBITDA

2017: $4.9 billion

2016: $4.7 billion


+0.0%

Adjusted basic EPS

2017: $2.63

2016: $2.58


+0.0%

Dividends declared per share

2017: $1.97

2016: $1.84



Financial resources

+0.0%

Cash from operations

2017: $3.9 billion

2016: $3.2 billion


+0.0%

Capital expenditures (excluding spectrum licences)

2017: $3.09 billion

2016: $2.97 billion


+0.0%

Total assets

2017: $29.5 billion

2016: $27.7 billion


+0.00

times

Net debt to EBITDA ratio

2017: 2.73 times

2016: 2.69 times



Customer connections

+0.0%

Wireless subscribers

2017: 8.91 million

2016: 8.59 million


+0.0%

Internet subscribers

2017: 1.74 million

2016: 1.66 million


-0.0%

Residential network access lines

2017: 1.30 million

2016: 1.37 million


+0.0%

TV subscribers

2017: 1.10 million

2016: 1.06 million



OPERATING REVENUES

($ billions)

EBITDA

($ billions)

DIVIDENDS DECLARED PER SHARE

($)

TOTAL CUSTOMER CONNECTIONS

(millions)


2017 financial and operating highlights

($ in millions except per share amounts)20172016% change
OPERATIONS
Operating revenues
$
13,304
$
12,799
 
3.9
Earnings before interest, taxes, depreciation and amortization (EBITDA)
$
4,774
$
4,229
 
12.9
EBITDA margin (%)
 
35.9
 
33.0
EBITDA – excluding restructuring and other costs
$
4,913
$
4,708
 
4.4
Adjusted EBITDA
$
4,891
$
4,667
 
4.8
Operating income
$
2,605
$
2,182
 
19.4
Net income attributable to common shares
$
1,460
$
1,223
 
19.4
Basic earnings per share (EPS)
$
2.46
$
2.06
 
19.4
Adjusted basic EPS
$
2.63
$
2.58
 
1.9
Dividends declared per share
$
1.97
$
1.84
 
7.1
Dividend payout ratio (%)
 
80
 
89
WIRELESS SEGMENT
External revenue
$
7,535
$
7,115
 
5.9
Adjusted EBITDA
$
3,157
$
3,000
 
5.2
Adjusted EBITDA margin on total revenue (%)
 
41.8
 
42.0
WIRELINE SEGMENT
External revenue
$
5,769
$
5,684
 
1.5
Adjusted EBITDA
$
1,734
$
1,667
 
4.0
Adjusted EBITDA¹ margin on total revenue (%)
 
29.0
 
28.4
FINANCIAL POSITION
Total assets
$
29,548
$
27,729
 
6.6
Net debt
$
13,422
$
12,652
 
6.1
Return on common equity (%)
 
17.8
 
15.4
LIQUIDITY AND CAPITAL RESOURCES
Cash from operations
$
3,947
$
3,219
 
22.6
Capital expenditures (excluding spectrum licences)
$
3,094
$
2,968
 
4.2
Free cash flow (before dividends)
$
966
$
141
 
n/m
Net debt to EBITDA ratio
 
2.73
 
2.69
CUSTOMER CONNECTIONS (in thousands at December 31)
Wireless subscribers
 
8,911
 
8,585
 
3.8
Internet subscribers
 
1,743
 
1,655
 
5.3
Residential network access lines
 
1,298
 
1,374
 
(5.5)
Total TV subscribers
 
1,098
 
1,059
 
3.7
Total customer connections
 
13,050
 
12,673
 
3.0