Rogers Communications Inc. Class A · TSX:RCI.A
Rogers Communications Inc. Class A — Q4 2021 Earnings Presentation
22 slides from Rogers Communications Inc. Class A's earnings presentation, Jan 27, 2022
Slide 1: Q4 2021 Results
Q4 2021 Results January 27, 2022
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 27, 2022. These materials should be read in conjunction with the disclosure documents referenced below. Cer
Slide 3: Tony Staffieri, President and CEO
Tony Staffieri President and CEO
Slide 4: 2022 Priorities
2022 Priorities Successful Closing of Shaw Improved Execution Investment in Networks Transformational transaction to bring Deliver world-class connectivity Increase investment in our networks next generation services to consumers and services and build long-term and businesses shareholder value Capi
Slide 5: Strong Wireless recovery
Strong Wireless recovery 130k 1.15% Postpaid Postpaid net adds churn (‘000s) (%) 130 1.19 1.15 114 Q4'20 Q4'21 Q4'20 Q4'21
Slide 6: Stable Internet and Cable business
Stable Internet and Cable business 0% 0% Revenue Adjusted EBITDA ($M) ($M) 1,023 520 518 1,019 Q4'20 Q4'21 Q4'20 Q4'21
Slide 7: Sports and Media
Sports and Media +26% Revenue ($M) 516 409 Q4'20 Q4'21
Slide 8: 2022 Guidance
2022 Guidance 2021 Results 2022 Guidance Total service revenue $12,533M +5% Increase of 4% to 6% Adjusted EBITDA1 $5,887M +1% Increase of 6% to 8% Capital expenditures $2,788M +21% $2,800M to $3,000M Free cash flow2 $1,671M -29% $1,800M to $2,000M For further information, please see the “2022 Outloo
Slide 9: Paulina Molnar, Interim CFO
Paulina Molnar Interim CFO
Slide 10: Q4 Wireless results
Q4 Wireless results +6% +5% -60 bps +2.9% Service Adjusted Adj. EBITDA Blended revenue EBITDA service margin ARPU3 ($M) ($M) (%) ($) 1,735 1,086 63.2 62.6 51.47 1,637 1,034 50.02 Q4'20 Q4'21 Q4'20 Q4'21 Q4'20 Q4'21 Q4'20 Q4'21 Service revenue up +6% year-on-year from subscriber growth and continued
Slide 11: Q4 Cable results
Q4 Cable results +0% +0% Revenue Adjusted EBITDA ($M) ($M) 1,023 520 518 1,019 50.6 Q4'20 Q4'21 Q4'20 Q4'21 Strong retail broadband net adds of 21k and Ignite TV net adds of 56k
Slide 12: Q4 Media results
Q4 Media results +26% -132% Revenue Adjusted EBITDA ($M) ($M) 516 409 82 Q4'20 Q4'21 -26 Q4'20 Q4'21 Higher broadcasting and advertising revenue with the resumption of normal sports programming schedules. Adjusted EBITDA remains negative from timing of broadcast rights fees.
Slide 13: Q4 consolidated results
Q4 consolidated results In millions of dollars, except percentages and per share amounts Q4'21 % Change Total service revenue increase Total service revenue 3,232 7 reflects a larger customer base, higher Adjusted EBITDA 1,522 (4) roaming revenue as travel restrictions Adjusted EBITDA margin3 38.8%
Slide 14: Strong financial position
Strong financial position Investment-grade balance sheet with healthy available liquidity2 position of $4.2 billion Debt leverage ratio2 of 3.4x Weighted average interest rate of 3.95% with average term to maturity of 11.6 years
Slide 15: Appendix
Appendix
Slide 16: Non-GAAP and other financial measures
Non-GAAP and other financial measures Non-GAAP financial measures Most directly comparable Specified financial IFRS financial measure How it is useful How we calculate it measure Adjusted net ● To assess the performance of our businesses Net income Net income income before the effects of the noted i
Slide 17: Non-GAAP and other financial measures
Non-GAAP and other financial measures Capital management measures Specified financial measure How it is useful Free cash flow ● To show how much cash we generate that is available to repay debt and reinvest in our company, which is an important indicator of our financial strength and performance. ●
Slide 18: Reconciliation of adjusted EBITDA
Non-GAAP and other financial measures Reconciliation of adjusted EBITDA Three months ended Twelve months ended December 31 December 31 (In millions of dollars) 2021 2020 2021 2020 Net income 405 449 1,558 1,592 Add: Income tax expense 152 172 569 580 Finance costs 218 228 849 881 Depreciation and am
Slide 19: Reconciliation of adjusted net income
Non-GAAP and other financial measures Reconciliation of adjusted net income Three months ended Twelve months ended December 31 December 31 (In millions of dollars) 2021 2020 2021 2020 Net income 405 449 1,558 1,592 Add (deduct): Restructuring, acquisition and other 101 73 324 185 Income tax impact o
Slide 20: Reconciliation of free cash flow
Non-GAAP and other financial measures Reconciliation of free cash flow Three months ended Twelve months ended December 31 December 31 (In millions of dollars) 2021 2020 2021 2020 Cash provided by operating activities 1,147 947 4,161 4,321 Add (deduct): Capital expenditures (846) (656) (2,788) (2,312
Slide 21: Reconciliation of adjusted net debt
Non-GAAP and other financial measures Reconciliation of adjusted net debt As at As at December 31 December 31 (In millions of dollars) 2021 2020 Current portion of long-term debt 1,551 1,450 Long-term debt 17,137 16,751 Deferred transaction costs and discounts 185 172 18,873 18,373 Add (deduct): Sub
Slide 22: Available liquidity
Non-GAAP and other financial measures Available liquidity As at December 31, 2021 Total sources Drawn Letters of credit US CP program 1 Net available (In millions of dollars) Cash and cash equivalents 715 — — — 715 Bank credit facilities 2: Revolving 4,000 — 8 894 3,098 Non-revolving 507 507 — — — O
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