Bce Inc. · TSX:BCE
Bce — BMO Capital Markets Media & Telecom Conference 2011
10 slides from Bce's conference presentation, Sep 13, 2011
Slide 1: BMO Capital Markets Media & Telecom Conference
BMO Capital Markets Media & Telecom Conference September 13, 2011 George Cope President & CEO
Slide 2: Safe harbour notice
Safe harbour notice Certain statements made in the attached presentation, including, but not limited to, statements relating to our 2011 financial guidance (including revenues, EBITDA, capital intensity, Adjusted EPS and free cash flow), our LTE wireless network deployment plans, our expected 2011 y
Slide 3: Maintaining focus on key value drivers
Maintaining focus on key value drivers 5 Strategic Imperatives 1 Accelerate wireless 2 Leverage wireline momentum Our goal 3 Invest in broadband networks and services To be recognized by customers as Canada’s leading 4 Achieve a competitive cost structure communications company 5 Improve customer se
Slide 4: Executing on Strategic Imperatives
Executing on Strategic Imperatives • CTV acquisition completed April 1 • Launched Bell Media • Fibre build-out supports IPTV and broadband Internet • Fibe TV footprint more than 1.1M households TV • Wireless LTE network launch in 2011 • Capturing over 1/3 of incumbent postpaid net adds • Maintaining
Slide 5: Significant market share gain
Significant market share gain Postpaid net additions market share (incumbents) Q1 2007 H1 2011 6% 32% 37% 57% 37% 31% Strong postpaid subscriber growth with higher smartphone mix 5
Slide 6: Significant cost savings continue
Significant cost savings continue $200M of cost reductions in 2011 • ~$160M achieved in H1 2011 • Reduction in support group costs and labour • 9% fewer calls into Bell Residential Services call centres • Operating tax savings • F/X improvement ~$900M in cost reductions since 2008 6
Slide 7: Strong start for Bell Media
Strong start for Bell Media • Healthy y/y organic growth in advertising and subscriber revenues in TV and Digital in Q2’11 • Rebranding /A\ Network to CTV Two • Launched TSN Radio in Toronto market • Strong new Fall programming line-up • Progress in concluding BDU agreements for TSN/RDS rate increas
Slide 8: Bell's improving revenue mix
Bell’s improving revenue mix Operating revenue mix — 2011E Pro forma ~80% ~30% ~11% ~27% ~12% ~20% Wireless Satellite/Fibe Wireline Media Wireline TV Internet/Data Voice 80% of revenues now driven by growth segments 8
Slide 9: Financial review
Financial review May 12 FY2011 YTD Q2’11 Y/Y Increased Expectation Guidance(1) Revenues $8,244M 7.2% 9% to 11% On track EBITDA $3,159M 8.3% 8% to 10% On track Margin 38.3% 0.4 pts Capital Intensity 14.1% (1.2 pts) ~16% On track Adjusted EPS(2) $1.58 13.7% $2.95 to $3.05 On track Free Cash Flow(3) $6
Slide 10: Increasing returns to shareholders
Increasing returns to shareholders Annualized common dividend per share Share buyback program (Dec. 2008 to Dec. 2010) Amount ($) ~$1.5B 42% $2.07 $1.97 Shares repurchased $1.83 56.2M $1.74 and cancelled $1.62 $1.54 $1.46 Average price per $26.43 share repurchased Q4’08 Q1’09 Q3’09 Q1’10 Q3’10 Q1’11
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