Strong Canadian Internet Subscriber Growth
Cogeco reported strong growth in Canadian Internet subscribers, adding 9,400 new subscribers during the quarter, contributing positively to customer trends.
Canadian Wireless Launch
Cogeco announced the launch of a new Canadian wireless service, marking the first major wireless launch in the country in over a decade. The product will be exclusive to wireline customers.
Improved Free Cash Flow and Debt Reduction
Cogeco's free cash flow increased by 61.5% in constant currency due to lower CapEx and restructuring costs. The debt to adjusted EBITDA ratio improved to 3.1x from 3.4x, aided by operational efficiencies.
OpEx and CapEx Synergies Exceeding Expectations
The company achieved OpEx and CapEx synergies that were tracking well above plan, resulting in a net CapEx reduction and significant operational efficiencies.