BCE reports 2020 Q4 and full-year results

Announces 2021 financial targets, 5.1% dividend increase and capital investment acceleration of at least $1 billion to advance fibre and wireless network expansion over the next 2 years

This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Regarding Forward-Looking Statements" later in this news release.

  • Net earnings increased 28.9% to $932 million in Q4 with net earnings attributable to common shareholders of $889 million, or $0.98 per common share, up 32.3%; Q4 adjusted net earnings of $731 million generated adjusted EPS of $0.81, down 5.8%
  • Achieved approximately 96% of 2019 service revenue and adjusted EBITDA in 2020 and sequential quarterly improvement in Q4 despite ongoing COVID-19 impacts
  • Adjusted EBITDA down 3.2% in Q4 on 2.8% lower revenue and 2.6% reduction in operating costs
  • 92,928 total wireless postpaid net additions in Q4; postpaid mobile phone net additions of 86,590 up 27% year over year
  • Leading broadband wireline subscriber results in Q4: retail Internet net additions increase 25% to 44,512 with 12% Internet revenue growth; 21,106 IPTV net additions
  • Over 6 million combined direct fibre and rural Wireless Home Internet locations at end of 2020, expected to grow to up to 6.9 million in 2021 with enhanced capital plan as Canada's fastest 5G network doubles population coverage
  • Strong financial position with $3.8 billion of available liquidity at end of 2020
  • Q4 cash flows from operating activities down 22% to $1,631 million; Q4 free cash flow of $92 million reflects $1.5 billion in capital investments, up 30% year over year; generated substantial free cash flow of $3.35 billion in 2020

MONTRÉAL, Feb. 4, 2021 /CNW Telbec/ - BCE Inc. (TSX: BCE), (NYSE: BCE) today reported results for the fourth quarter (Q4) and full-year 2020, provided financial guidance for 2021 and announced a 5.1%, or $0.17 per share, increase in the BCE annual common share dividend to $3.50. The company also unveiled an ambitious broadband network acceleration program enabled by an additional $1 billion to $1.2 billion in capital investment over the next 2 years.

"Today, BCE is proud to announce a significant acceleration in network capital investment to support Canada's recovery from the social and economic impacts of COVID-19 alongside a 5.1% increase in our common share dividend. These initiatives reflect our commitment to lead the buildout of Canada's next-generation digital infrastructure while also delivering increased dividend returns to the shareholders who have invested in Bell's strategy of broadband innovation and growth," said Mirko Bibic, President and CEO of BCE and Bell Canada.

"Bell's solid fourth-quarter Q4 and 2020 results – including welcoming 147,000 net new retail Internet, IPTV and wireless customers in Q4 – underscore the advantages of fast, reliable and high-capacity networks in a challenging and competitive marketplace. Bell's network leadership has kept Canadians connected, informed and entertained throughout COVID-19, with the round-the-clock support and ongoing investments in network capacity and digital platforms necessary to enable the business, government and front-line response to the crisis," said Mr. Bibic.

"Now, Bell looks forward to playing a key role in the country's move forward with an acceleration of at least $1 billion over the next 2 years to deliver fibre connections, rural Internet services and the fastest 5G network to even more Canadians. Since 1880, Bell has led the way in ensuring Canada's leadership position in the global communications sector, and our team is proud to advance how Canadians connect with each other and the world in 2021."

 

For full details, visit the BCE News Release,  and

for the Q4 2020 Results & 2021 Financial Guidance Call presentation, click here.

 



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