25 slides from Rogers Communications Inc. Class A's earnings presentation, Jan 30, 2025
Slide 1: Q4 2024 Results
Q4 2024 Results January 30, 2025 1
Slide 2: Cautionary note
Cautionary note The following materials are for presentation purposes only. They accompany the discussions held during Rogers Communications Inc.’s (Rogers) investor conference call on January 30, 2025. Certain statements made in this presentation, including, but not limited to, statements relating
Slide 3: Tony Staffieri, President and CEO
Tony Staffieri President and CEO 3
Slide 4: Strong Q4 & 2024 execution
Strong Q4 & 2024 execution • Rogers tops $20 billion in annual revenue in 2024 as more Canadians choose Rogers Wireless and Internet than any other carrier in Canada • Added industry-best 2.0 million mobile phone and Internet subscribers over the past twelve quarters • Best-in-sector Cable and Wirel
Slide 5: Q4 consolidated results
Q4 consolidated results +2% +9% Total service Adjusted revenue EBITDA1 ($M) ($M) 4,470 4,543 2,533 2,329 Q4’23 Q4’24 Q4’23 Q4’24 5
Slide 6: Wireless
Wireless 95K 66.4% Total mobile Adjusted phone EBITDA net adds margin (‘000s) (%) 111 63.9 66.4 95 Q4’23 Q4’24 Q4’23 Q4’24 6
Slide 7: Cable
Cable 26K 59.0% Retail Internet Adjusted EBITDA net adds margin (‘000s) (%) 59.0 26 56.1 20 Q4’23 Q4’24 Q4’23 Q4’24 7
Slide 8: Glenn Brandt, CFO
Glenn Brandt CFO 8
Slide 9: Q4 Wireless results
Q4 Wireless results +2% +6% (14bps) - Service Adjusted Postpaid mobile Mobile phone revenue EBITDA phone churn ARPU2 ($M) ($M) (%) ($) 2,020 2,058 1,367 1,291 1.67 1.53 57.96 58.04 Q4’23 Q4’24 Q4’23 Q4’24 Q4’23 Q4’24 Q4’23 Q4’24 9
Slide 10: Q4 Cable results
Q4 Cable results - +5% +290bps Revenue Adjusted Adjusted EBITDA EBITDA margin ($M) ($M) (%) 1,982 1,983 1,169 59.0 1,111 56.1 Q4’23 Q4’24 Q4’23 Q4’24 Q4’23 Q4’24 10
Slide 11: Q4 Media results
Q4 Media results +10% +$49M Revenue Adjusted EBITDA ($M) ($M) 616 558 53 4 Q4’23 Q4’24 Q4’23 Q4’24 11
Slide 12: Q4 capital expenditures
Q4 capital expenditures +6% Capital expenditures ($M) 1,007 946 Q4’23 Q4’24 12
Slide 13: Q4 consolidated results
Q4 consolidated results In millions of dollars, except margins and per share amounts Q4’24 % Change Total service revenue 4,543 2 Adjusted EBITDA1 2,533 9 Adjusted EBITDA margin2 46.2% 2.5pts Net income 558 70 Diluted earnings per share $1.02 65 Adjusted net income3 794 26 Adjusted diluted earnings
Slide 14: Strong financial position
Strong financial position Available liquidity4 of $4.8B Weighted average interest rate of 4.61% with average term to maturity of 9.8 years Debt leverage ratio4 4.5x 14
Slide 15: 2025 Guidance
2025 Guidance 2024 2025 (In millions of dollars, except percentages) Actual Guidance Ranges Total service revenue $18,066 Increase of 0% to 3% Adjusted EBITDA1 $9,617 Increase of 0% to 3% Capital expenditures $4,041 $3,800 to $4,000 Free cash flow4 $3,045 $3,000 to $3,200 Note: For further informati
Slide 16: Q4 2024 Results
Q4 2024 Results January 30, 2025 16
Slide 17: Non-GAAP and other Financial Measures
Non-GAAP and other Financial Measures We use the following "non-GAAP financial measures" and other "specified financial measures" (each within the meaning of applicable Canadian securities law). These are reviewed regularly by management and the Board in assessing our performance and making decision
Slide 18: Non-GAAP and other Financial Measures
Non-GAAP and other Financial Measures Non-GAAP ratios Specified financial measure How it is useful How we calculate it Adjusted basic ● To assess the performance of our businesses before the effects Adjusted net income earnings per of the noted items, because they affect the comparability of our div
Slide 19: Non-GAAP and other Financial Measures
Non-GAAP and other Financial Measures Total of segments measures Specified financial measure Most directly comparable IFRS financial measure Adjusted EBITDA Net income Capital management measures Specified financial measure How it is useful Free cash flow ● To show how much cash we generate that is
Slide 20: Non-GAAP and other Financial Measures
Non-GAAP and other Financial Measures Supplementary financial measures Specified financial measure How we calculate it Adjusted EBITDA margin Adjusted EBITDA divided by revenue. Wireless mobile phone Wireless service revenue average revenue per user divided by (ARPU) average total number of Wireless
Slide 21: Reconciliation of adjusted EBITDA
Non-GAAP and other Financial Measures Reconciliation of adjusted EBITDA Three months ended December 31 Twelve months ended December 31 (In millions of dollars) 2024 2023 2024 2023 Net income 558 328 1,734 849 Add: Income tax expense 158 194 572 517 Finance costs 571 568 2,295 2,047 Depreciation and
Slide 22: Reconciliation of adjusted net income
Non-GAAP and other Financial Measures Reconciliation of adjusted net income Three months ended December 31 Twelve months ended December 31 (In millions of dollars) 2024 2023 2024 2023 Net income 558 328 1,734 849 Add (deduct): Restructuring, acquisition and other 83 86 406 685 Depreciation and amort
Slide 23: Reconciliation of free cash flow
Non-GAAP and other Financial Measures Reconciliation of free cash flow Three months ended December 31 Twelve months ended December 31 (In millions of dollars) 2024 2023 2024 2023 Cash provided by operating activities 1,135 1,379 5,680 5,221 Add (deduct): Capital expenditures (1,007) (946) (4,041) (3
Slide 24: Adjusted net debt and debt leverage ratio
Non-GAAP and other Financial Measures We use adjusted net debt and debt leverage ratio to conduct valuation-related analysis and to make capital structure-related decisions. As at As at December 31 December 31 (In millions of dollars, except ratios) 2024 2023 Current portion of long-term debt 3,696
Slide 25: Available liquidity
Non-GAAP and other Financial Measures Below is a summary of our available liquidity from our cash and cash equivalents, bank credit facilities, letter of credit facilities, and short-term borrowings as at December 31, 2024 and December 31, 2023. As at December 31, 2024 Total sources Drawn Letters of