Q4 2024 BCE Inc Earnings Call and Guidance call Transcript
Key Points
- BCE Inc (BCE) achieved all non-revenue targets for 2024 and was within revised revenue guidance despite aggressive wireless pricing and media advertising softness.
- The company's consolidated EBITDA margin increased by 1.2 points to 43.4%, marking the highest annual margin performance in over 30 years.
- BCE Inc (BCE) reported positive wireless service revenue growth, reflecting a focus on premium brand customer loadings and responsible promotional offers.
- The company grew broadband internet market share, with internet revenue growth of 3.3% and a 12% increase in households subscribing to mobility and internet service bundles.
- Digital revenue grew by 19%, now comprising 42% of total media revenue, supported by strategic investments in digital content and partnerships.
- Total revenue for BCE Inc (BCE) was down 0.8%, reflecting competitive pricing pressures and declines in legacy services.
- Postpaid churn increased, and mobile phone ARPU was down 2.7%, indicating challenges in subscriber retention and revenue per user.
- The company faced regulatory challenges, with the CRTC's decision impacting fiber build-out plans, leading to a reduction in CapEx for 2025.
- BCE Inc (BCE) has an elevated dividend payout ratio outside its policy range, reflecting financial pressures and potential future adjustments.
- The company anticipates a year-over-year decline in adjusted EPS by 8% to 13% due to higher interest expenses, depreciation, and amortization.
Good morning, ladies and gentlemen. Welcome to the BCE Q4 2024 Results and 2025 Guidance Call.
I would like to turn the meeting over to Mr. Thane Fotopoulos. Please go ahead, Mr. Fotopoulos.
Thank you, Matthew, and good morning to everyone on the call. Thank you for joining us.
With me here today are Mirko Bibic, BCEâs President & CEO and our CFO, Curtis Millen.
You can find all of our Q4 disclosure documents, including the safe harbor notice concerning the forward-looking statements for 2025 and our financial guidance targets for this year on the Investor Relations page of the bce.ca website which we posted earlier this morning.
We have a lot of material to get through on this call. However, before we begin, I'd like to draw your attention to our safe harbor statement on slide 2, reminding you that today's slide presentation and remarks made during the call will include forward-looking information and therefore are subject to risks and uncertainties.
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