TELUS announces preliminary fourth quarter and full year 2020 results of TELUS International
Vancouver, B.C. – TELUS Corporation (TSX: T; NYSE: TU) announced today that its subsidiary, TELUS International (Cda) Inc. (TELUS International), has disclosed its preliminary and unaudited estimates of selected results for the three months and full year ended December 31, 2020. TELUS International has disclosed these preliminary results in connection with its previously announced initial public offering. The preliminary results are presented below.
The following information reflects preliminary estimates with respect to such results based on currently available information, is not a comprehensive statement of TELUS International’s financial results and is subject to completion of its financial closing procedures.
TELUS International’s financial closing procedures are not yet complete and, as a result, its actual results may change as a result of such financial closing procedures, final adjustments, management’s review of results, and other developments that may arise between now and the time the financial results are finalized, and results could be outside of the ranges set forth below. These estimates should not be viewed as a substitute for TELUS International’s consolidated financial statements prepared in accordance with IFRS which will be available at a later date.
Selected Financial Information (US $ millions):
Three Months Ended December 31
2020 Estimated Range | 2019 Actual | |
|---|---|---|
Revenues arising from contracts with customers | $430 - $445 | $272.5 |
Net Income | $13 - $20 | $27.3 |
TI Adjusted EBITDA1 | $122 - $130 | $63.7 |
Net Income | $20 - $13 | $27.3 |
Add back (deduct) | - | - |
Changes in business combination related provisions | - | (12.1) |
Interest expense | 10 - 12 | 8.3 |
Foreign exchange | (3) - (6) | (0.3) |
Income taxes | 11 - 18 | 7.7 |
Depreciation and amortization | 49 - 50 | 24.7 |
Share-based compensation expense | 11 - 17 | 6.0 |
Restructuring and other costs | 24 - 26 | 2.1 |
TI Adjusted EBITDA | $122 - $130 | $63.7 |
Full Year Ended December 31
2020 Estimated Range | 2019 Actual | |
|---|---|---|
Revenues arising from contracts with customers | $1,569 - $1,584 | $1,019.6 |
Net Income | $95 - $102 | $69.0 |
TI Adjusted EBITDA1 | $384 - $392 | $225.6 |
Net Income | $102 - $95 | $69.0 |
Add back (deduct) | - | - |
Changes in business combination related provisions | (73) - (73) | (14.6) |
Interest expense | 44 - 46 | 36.3 |
Foreign exchange | (1) - (4) | (2.6) |
Income taxes | 46 - 53 | 26.0 |
Depreciation and amortization | 181 - 182 | 92.2 |
Share-based compensation expense | 28 - 34 | 13.2 |
Restructuring and other costs | 57 - 59 | 6.1 |
TI Adjusted EBITDA | $384 - $392 | $225.6 |