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BCE Inc.

Q22019

8/1/2019

speaker
Donna
Conference Operator

Please stand by. Your meeting is about to begin. Good morning, ladies and gentlemen. Welcome to the BCE Q2 2019 Results Conference Call. I would like to turn the meeting over to Mr. Thayne Fotopoulos. Please go ahead, Mr. Fotopoulos.

speaker
Thayne Fotopoulos
Senior Vice President, Investor Relations

Thank you, Donna, and good morning to all on the call. With me here, as usual, are George Kofi, the President and CEO, and Glenn LeBlanc, our CFO. Also joining us this quarter and going forward on all quarterly conference calls is Bell's COO, Mirko Bibic. As a reminder, our Q2 results package and other disclosure documents, including today's slide presentation, are available on BC's Investor Relations webpage. However, before we get started, I want to draw your attention to our safe harbor statement on slide two. Information in this presentation and remarks made by the speakers today will contain statements about expected future events and financial results that are forward-looking and therefore subject to risks and uncertainties. These forward-looking statements represent our expectations as of today and therefore are subject to change. We disclaim any obligation to update forward-looking statements except as required by law. So with that, over to George.

speaker
George Kofi
President & CEO

Great. Thanks, Thayne. Good morning, everyone. Hope everyone's enjoying the summer. I'm going to flip to page four. Just before I begin, I want to welcome Mirko to our call today. As I think everyone knows, Mirko is currently our Chief Operating Officer and will become CEO at BCE on January 6th. on my retirement from BCE on the 5th of January next year. Mirko and I have worked side by side for the past years, both strategically and operationally. Our company and your company will be in great hands going forward as we continue this evolution to being Canada's broadband leader. We're going to also get a chance this morning to hear from Mirko on our results in a few minutes. It's turning to a few highlights. Broadband net ads for the company were very strong, up 25% year over year. We had record wireless net ads up 30% year over year. Our fiber footprint acceleration and strategy continues to pay off, where we saw growth in fiber net additions up 10% year over year. Our footprint has now surpassed 50% of our overall fiber rollout at 4.9 million locations. Media had a very strong quarter, up close to 24% from an EBITDA perspective. And overall, truly strong profitability growth, adding to that is the declining capital intensity ratio we talked about a year ago, driving free cash flow up 10% in the quarter in year-to-date 13. In my opinion, we had an exceptional quarter. I frankly was trying to remember. I cannot recall when the company has actually beat the street on estimates of revenue, EBITDA, EPS, free cash flow, and net additions all in one quarter. And just to round it out that it has not happened before, it also includes an NBA championship to top it all off. So with that, let me turn it over to Mirko to take you through the highlights of the quarter.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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