Quebecor Inc. Reports Strong Financial Performance for 2024 with Significant Growth in Telecommunications Segment
Quebecor Inc. Reports Strong Financial Performance for 2024
Overview
On February 27, 2025, Quebecor Inc. announced its consolidated results for the fourth quarter and the entire year of 2024. The company showcased impressive growth across several metrics, particularly within its telecommunications segment.
Notable Achievements
Quebecor has recorded an operational cash flow of $1.72 billion, marking a notable increase of 17.6% compared to the previous year. The adjusted EBITDA reached $2.37 billion, an increase of 5.8%, and the total revenues climbed to $5.64 billion, reflecting a 3.8% year-over-year growth. This consistent upward trajectory affirms the effectiveness of Quebecor's business strategies despite the competitive landscape of the telecommunications industry.
The Telecommunications segment significantly contributed to this success, with adjusted cash flow from operations rising by 3.7% and adjusted EBITDA increasing by 4.7%, leading to revenues growing by 3.9%. Noteworthy was a surge in mobile service revenues, propelled by the acquisition of Freedom Mobile and enhanced performance from Videotron, which added 373,300 new mobile connections, a 9.9% increase. Furthermore, revenue from mobile services surged by 15.9%, translating to an increase of $324.4 million.
Quarterly Highlights
In Q4 2024, Quebecor reported cash flows from operating activities of $392.4 million, up 16.9% year-on-year, with a slight revenue dip to $1.50 billion. Nonetheless, the adjusted EBITDA improved by 4.2% to $589 million. Again, the telecommunications segment outperformed expectations, registering a growth in cash flow and adjusted EBITDA despite a slight revenue decrease.
CEO’s Insights
Pierre Karl Péladeau, President and CEO of Quebecor, emphasized the company's disciplined approach to financial management, which has been crucial for maintaining robust performance in a highly competitive market. He remarked on the achievement of simultaneous growth in market share and cash flows while reducing debt, marking Quebecor as a key player in the Canadian telecommunications arena. The successful integration of Freedom Mobile has allowed Quebecor to disrupt the existing telecom landscape, further enhancing its service offerings and customer experience.
Major Developments and Future Outlook
Quebecor's strategy has included significant investments in its telecommunications infrastructure, including the expansion of 5G service. In January 2025, they announced that state-of-the-art 5G+ technology would be included in all Freedom monthly mobile plans, further solidifying their market competitiveness. Quebecor's recent initiatives, including expanding service areas through Freedom and Videotron in various Canadian regions, demonstrate their commitment to inclusivity and accessibility.
Despite challenges in the media segment, Quebecor has made strides in its broadcasting and advertising ventures, particularly with its acquisition of the out-of-home advertising business from Media Group Inc. The company remains hopeful about sustaining its growth trajectory over the coming years, focused on expanding its telecommunications service reach and enhancing user experience across its platforms.
In conclusion, Quebecor Inc. has exhibited significant resilience and innovation in its operations throughout 2024. The firm is moving forward clearly poised for continued expansion and profitability, driven by a strategic focus on enhancing its telecommunications offerings and investing in new technologies, all while remaining committed to creating value for shareholders and the community alike.
For Further Information
Investors seeking more details about Quebecor's financial performance and strategic direction can access the Management Discussion and Analysis along with consolidated financial statements on their official website.