Shaw Communications Inc. (“Shaw” or the “Company”) announces consolidated financial and operating results for the quarter ended November 30, 2019, including the impact of adopting IFRS 16, Leases (IFRS 16). Consolidated revenue increased by 2.1% to $1.38 billion and adjusted EBITDA increased 8.1% year-over-year to $588 million. Removing the $38 million impact from IFRS 16, adjusted EBITDA growth was approximately 1.1%.
“We continue to demonstrate consistent execution across our business units and remain focused on our growth segments including Wireless, Business and Broadband,” said Brad Shaw, Chief Executive Officer. “As the competitive landscape in wireless continues to intensify and evolve, our positioning in the market remains strong. Freedom Mobile’s reputation of providing high quality and affordable wireless services, not just during the highly competitive holiday period, but every day, resonates well with customers and through the introduction of Freedom Home Internet, we have reinforced our dual brand strategy that enables us to effectively segment the broadband market.”
The Company continues to grow its wireless subscriber base, which is now over 1.7 million customers, including approximately 67,000 postpaid net additions in the first quarter, along with solid year-over-year ABPU and ARPU growth of 4.5% and 1.0%, respectively. Postpaid churn increased marginally in the quarter to 1.5% compared to a year ago as Freedom Mobile successfully began the renewal of its initial iPhone cohort from the Christmas period in 2017, a positive outcome given the intensity of competitive offers heading into the holiday shopping period. Wireless network investments to improve the customer experience continue to be a priority, with deployment of 700 MHz spectrum now substantially complete in Western Canada and scheduled for completion in the remaining markets in Ontario throughout fiscal 2020.
In the Wireline segment, Consumer Internet net additions grew by approximately 5,600 and with the launch of BlueCurve Total, which bundles BlueCurve Internet with BlueCurve TV, Shaw delivered its best Consumer video subscriber result in over two years. The roll-out of IPTV across its cable footprint is 76% complete and the number of customers electing to self-install increased to over 48% in the quarter, supporting the digital transformation initiatives and the lower cost to serve model. Shaw Business continues to attract customers in the small, medium and enterprise market, delivering top-line revenue growth of 3.6% year-over-year to $143 million, or approximately 5% growth excluding the effect of prior year revenue from the Calgary1 data centre sold on August 1, 2019.