#Canada #Vancouver #Mobile Services #TELUS #Fixed Services

TELUS Reports Strong Q4 Results and Sets Ambitious 2025 Goals

TELUS Corporation has unveiled its financial performance for the fourth quarter of 2024, demonstrating robust operational results that have far exceeded market expectations. The company saw significant customer growth, adding a remarkable total of 328,000 new mobile and fixed service subscribers, a feat accomplished through a compelling bundle of services and superior broadband networks.

Exceptional Subscriber Growth

The surge in subscribers included 70,000 net additions in mobile phone customers and 194,000 in connected devices. Notably, TELUS also reported an impressive 64,000 net additions in fixed services during the quarter, which comprised 37,000 new internet customers. This customer growth contributed to a triumphant year, as TELUS surpassed one million net additions across both mobility and fixed service categories for the third consecutive year, overall totaling over 1.2 million for 2024.

As Darren Entwistle, TELUS's President and CEO, stated: "Our team's relentless pursuit of operational excellence continued to differentiate the TELUS organization. This push for excellence has been reflected in our robust financial results and significant customer growth."

Financial Highlights

TELUS reported an increase of 4.1% in TTech Operating Revenues, and TTech Adjusted EBITDA grew by 7.0% in Q4, driven primarily by efficiency improvements and expanded margins per user. The company achieved an overall Consolidated Free Cash Flow of approximately $2.0 billion, marking an impressive 12% increase compared to the previous year.

For the full year, TELUS's finances were equally sound, with Operating Revenues increasing by 1.8% and Adjusted EBITDA up by 5.5%. These results demonstrate the firm’s successful navigation of a highly competitive landscape, highlighting both operational efficiency and strong demand for its products.

Looking Ahead: 2025 Financial Targets

As TELUS steps into 2025, it has set ambitious financial targets. The company aims for a 2-4% increase in Operating Revenues and a 3-5% jump in Adjusted EBITDA. The planned Consolidated Capital Expenditures are expected to be around $2.5 billion, while the Expected Free Cash Flow is forecasted to reach $2.15 billion in 2025. This commitment to growth reflects TELUS's strategic focus on enhancing its asset base and maintaining robust capital allocation strategies.

Customer-Centric Strategy

The impressive subscriber growth can be attributed to TELUS's unique bundled product offerings and its commitment to delivering exceptional service. The company's advancements in broadband and its customer-oriented culture have been pivotal in achieving industry-best net additions for the fourth quarter.

Darren Entwistle further elaborated on the importance of customer experience, remarking: "Our focus on ensuring customer satisfaction and loyalty has not only driven our growth but has resulted in enduring relationships with our customers."

Investment in Community and Health Services

Beyond financial metrics, TELUS remains dedicated to community engagement and social responsibility. The company has invested heavily in health services, escalating revenue growth in TELUS Health by 10% in Q4, driven by strategic investments and acquisitions. With over 76 million individuals covered through its healthcare initiatives, TELUS is committed to leveraging technology to enhance healthcare access and outcomes.

In the realm of social responsibility, TELUS volunteers have contributed 1.5 million hours globally, emphasizing the company's ethos of giving back to the communities it serves.

Conclusion

As TELUS heads into 2025, it carries momentum from its remarkable Q4 performance. With a strong foundation in customer growth, a dedicated strategy for operational excellence, and clear financial targets, TELUS is well-positioned to succeed in a rapidly evolving telecommunications landscape, further solidifying its status as a leader in the industry.