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Telus Q2 revenues climb 10%

Canadian full-service operator Telus reported that its consolidated operating revenues for the second quarter of 2021 increased by 10% year-on-year to CAD4.1 billion (USD3.3 billion). EBITDA rose by 6.8% to CAD1.45 billion while adjusted EBITDA increased by 9.5% to CAD1.50 billion, and quarterly net income expanded by 9.2% to CAD344 million. CAPEX grew by CAD157 million in 2Q21 due to increased investments in Telus' 5G network, accelerated purchase of equipment to support subscriber growth, and accelerated investments in its fibre broadband build-out.

Telus highlighted mobile phone net additions of 89,000 in the three months to end-June 2021, an increase of 28,000 over the same period in the prior year, and 'market leading' blended customer churn of 0.81%. Fixed network customer net additions of 50,000 in the quarter were driven by 'PureFibre' services and customer loyalty, with an accelerated broadband expansion programme actively underway, further expanding PureFibre and 5G coverage alongside copper decommissioning.

Last week, Telus spent CAD1.95 billion in Canada's 3.5GHz 5G spectrum auction, receiving 228 10MHz blocks (142 auctioned, 86 converted from existing fixed-wireless permits) in 61 regions of five provinces: British Columbia, Alberta, Manitoba, Ontario and Quebec. Telus says its 3.5GHz bandwidth averages 1×40MHz in its 'key markets', while averaging between 1×20MHz and 1×30MHz across all its licensed regions.

Thanks to TeleGeography for this industry update.

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Monday, 25 October 2021

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