Quebec telecommunications giant Quebecor ended 2023 with higher revenues, mainly due to the telecommunications sector and the acquisition of Freedom.
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For the fourth quarter ended December 31, net income attributable to shareholders was $146.2 million, or $0.63 per share, an increase of $3.7 million per share. Report in the fourth quarter of 2022.
Quebecor reported revenue of $5.43 billion in fiscal 2023, up 19.9% year over year.
Developments in the telecommunications sector, which recorded growth of $935.8 million in 2023, an increase of 25.2%, contributed significantly to the increase in sales.
“The year 2023 marked a historic turning point for Quebecor, thanks to the acquisition of Freedom in April 2023, which made the company the fourth major national mobile operator in Canada,” emphasized Pierre Karl Péladeau, President and CEO of Quebecor. Thursday.
With the acquisition completed in April last year, Quebecor managed to pay off more than $400 million in net debt.
“We have increased competition across Canada and significantly increased the growth of our customer base with 230,100 new lines [13,5 % ] “We will drive mobile expansion in 2023, more than double the growth of 2022, leveraging our portfolio of brands, which now consists of Videotron, Freedom and Fizz,” Mr. Péladeau added.
TVA Group, for its part, ended the year with a net loss attributable to shareholders of $47.9 million, an unfavorable difference of $39 million compared to 2022, despite two restructuring plans, according to results released on Wednesday.