Bce Inc. · TSX:BCE

Bce — RBC Capital Markets Telecommunications Fixed Income Conference 2009

9 slides from Bce's conference presentation, May 13, 2009

  1. Slide 1: RBC Capital Markets Telecommunications Fixed Income Conference

    RBC Capital Markets Telecommunications Fixed Income Conference May 13, 2009 Siim Vanaselja Chief Financial Officer

  2. Slide 2: Safe Harbour Notice

    Safe Harbour Notice Certain statements made today, some of which are reflected in this presentation, including, but not limited to, our financial guidance, plans and strategies, capital structure profile, and other statements that are not historical facts, are forward-looking statements. Several ass

  3. Slide 3: 5 Strategic Imperatives

    5 Strategic Imperatives Our goal Strategic imperatives 1 “To be 1 Achieve a competitive cost structure recognized by 2 customers as 2 3 Accelerate wireless Canada’s leading communications 3 4 Leverage wireline momentum company” 5 4 Invest in broadband network and services 5 Improve customer service

  4. Slide 4: What's changed at Bell since July 2008

    What’s changed at Bell since July 2008 … balanced with investments Focus on cost… in strategic imperatives 1 9 New organizational structure 9 Changed culture to pay for performance 9 Removed 3 layers of management 2 9 New HSPA wireless network build 9 Reduced wireline workforce by ~3,500 3 9 Launche

  5. Slide 5: Q1 Financial Review

    Q1 Financial Review ƒ Managing through economic downturn Q1'09 Y/Y – Residential services showing good resiliency – Softer SMB market Revenues $3,623M (0.5%) – Reduced equipment sales in Enterprise EBITDA $1,426M 0.3% – Cautious spending and competitor pressures impacting wireless growth EBITDA marg

  6. Slide 6: Capital Structure Model

    Capital Structure Model Maintain strong ƒ Solid investment grade metrics 1 credit profile ƒ Ample access to short- and long-term capital Ensure ample ƒ Strong, reliable cash flow generation 2 liquidity ƒ Ability to self-fund debt maturities Return cash to ƒ Target dividend payout ratio of 65%-75% of

  7. Slide 7: Capital Structure Profile

    (1) Capital Structure Profile Debt Profile ($M) Bell Canada Credit Ratings ƒ Stable outlook associated with all credit ratings Bell debentures 6,469 BCE debentures 650 DBRS Moody’s S&P Capital leases & other 2,354 BCE preferred shares 2,770 Long-term debt A (low) Baa1 BBB+ A/R Securitization 1,108 C

  8. Slide 8: Favourable Liquidity Position and Debt Maturity Profile

    Favourable Liquidity Position and Debt Maturity Profile Debt maturities ($M) Strong liquidity position ƒ Significant free cash flow generation 1,500 994 975 Debt maturity profile 500 BCE 250 350 ƒ Maturities easily manageable 650 ƒ No debt to remain at BCE 2009 2010 2011 2012 2013-2016 2017-2027 ƒ C

  9. Slide 9: Executing on our Priorities

    Executing on our Priorities Solid operating results given macroeconomic environment ƒ Abating NAS losses ƒ Higher residential household ARPU ƒ Wireless margin expansion in tough environment ƒ Stable revenues and EBITDA ƒ Disciplined cost and capital management ƒ Financial results in-line with 2009 g

BCE — RBC Capital Markets Telecommunications Fixed Income Conference 2009 on 6ix