Business-leading general Cellular and Mounted buyer expansion of 218,000, up 9,000 over ultimate 12 months, and our most powerful first quarter on report; expansion pushed through robust call for for our stunning bundled products and services over our complex and extremely valued broadband networks
TTech, together with unutilized TELUS Fitness reportable area, Running Income and Adjusted EBITDA expansion of three and four in keeping with cent, respectively, reflecting the commercial resiliency of our trade inside a dynamic working condition; Consolidated sovereign coins wave up 22 in keeping with cent and coins from operations larger through 13 in keeping with cent
In line with dividend expansion program, quarterly dividend raised to $0.4163, an build up of seven in keeping with cent over the similar length ultimate 12 months, representing a giveover of roughly 8 in keeping with cent
Extending dividend expansion program focused on 3 to eight in keeping with cent annual expansion for 2026 thru 2028, supported through robust Adjusted EBITDA expansion outlook, moderating capex and persisted sovereign coins wave enlargement
Reaffirming our 2025 Monetary Goals; TTech Running Revenues and Adjusted EBITDA expansion, together with TELUS Fitness reportable area, of two to 4 in keeping with cent and three to five in keeping with cent, respectively, Consolidated Capital Expenditures, apart from actual property, of roughly $2.5 billion and Independent Money Wave of roughly $2.15 billion
VANCOUVER, BC, Might 9, 2025 /PRNewswire/ – TELUS Company as of late spared its unaudited effects for the primary quarter of 2025. Efficient with our first quarter 2025 effects, we’ve advanced our reporting construction, and presented a TELUS condition reportable area (TELUS Fitness). Our TELUS Fitness effects had been prior to now integrated with the TELUS era answers area (TTech) effects. The unutilized TELUS Fitness area will now be reported along our current TTech area, which now excludes TELUS Fitness, in addition to our TELUS virtual enjoy area (TELUS Virtual). Consolidated working revenues and alternative revenue larger through 3 in keeping with cent over the similar length a 12 months in the past to $5.1 billion. This expansion was once pushed through larger carrier revenues in our TTech and TELUS Fitness reportable departments, in addition to larger exterior revenues in our TELUS Virtual area. See First Quarter 2025 Running Highlights inside this information let fall for a dialogue on TTech, TELUS Fitness and TELUS Virtual effects.
“In the first quarter of 2025, our team’s unwavering commitment to operational excellence and cost efficiency has empowered TELUS to deliver another quarter of industry-leading customer growth and strong financial performance,” mentioned Darren Entwistle, President and CEO. “These results were achieved within a dynamic operating environment, demonstrating the resiliency of our business and strength of our leading portfolio of services. Our mobile and fixed customer growth underscores the strong demand for TELUS’ bundled services and leading broadband networks. Notably, we achieved total mobile and fixed customer growth of 218,000, driven by mobile phone and connected device additions of 168,000, alongside fixed customer additions of 50,000. This performance highlights the strength of our bundled product offerings across Mobile and Home, powered by our leading PureFibre and wireless broadband networks. The dedication and passion of our team in delivering customer service excellence contributed to continued strong loyalty across our key product lines, once again this quarter. Notably, postpaid mobile phone churn was 0.84 per cent, as we begin the twelfth consecutive year below the one per cent level.”
“Our technology-centric growth businesses continue to demonstrate impressive momentum. TELUS Health achieved revenue and Adjusted EBITDA growth of 12 and 30 per cent, respectively, and drove a 7 per cent year-over-year increase in global lives covered to 76.5 million. This was fueled by strategic investments, product enhancements, expanding sales channels, and effective cost management through technology optimization and synergy optimization – underpinned by a deeply rooted dedication to putting customers first. We are excited to maintain and build on this momentum throughout 2025 and beyond. Notably, since acquiring LifeWorks, we have realized $376 million in combined annualized synergies – $306 million from cost efficiencies and $70 million from successful cross-selling strategies. We remain on track to meet our goal of $427 million by the end of 2025. In May, TELUS acquired Workplace Options, a leading global provider of integrated employee wellbeing solutions, with 88 million employees served across 200 countries and territories. Together, we will offer the most comprehensive suite of health and wellbeing solutions globally, powered by innovative technology and delivered with unmatched service excellence. Furthermore, this acquisition will be made in partnership with a leading private equity investor within the healthcare vertical, with deep expertise across the healthcare landscape who will be a value-added partner, supporting our efforts to accelerate growth. Moreover, within TELUS Agriculture & Consumer Goods, our team demonstrated strong performance, with a 20 per cent revenue increase supported by enhanced profitability and margin improvements. The results we are achieving in these businesses reflect our dedicated efforts to deliver outstanding customer experiences, maximizing shareholder value and driving our initiatives in social capitalism.”
Darren additional commented, “The consistency of our results are underpinned by our dedicated team who are passionate about delivering superior customer experiences over our world-leading wireless and PureFibre broadband networks. In addition to driving extensive socio-economic benefits for Canadians in communities from coast-to-coast, for decades to come, the significant broadband network investments we have made enable the continued advancement of our operational, financial and customer experience performance, and the long-term sustainability of our industry-leading dividend growth program. Today, we are announcing a 7 per cent dividend increase, reflecting our unwavering commitment to delivering superior value to our shareholders and building on our consistent track record of delivering on our multi-year dividend growth program established in 2011. Furthermore, we announced today, for the fifth time, the extension of our industry-best dividend growth program targeting 3 to 8 per cent annual growth for 2026 through 2028. Dividend growth and affordability will be supported by a strong EBITDA growth outlook in combination with moderating capex, yielding a meaningful resulting free cash flow expansion. This is augmented by significant value creation in our emerging growth businesses and a succession of asset monetization opportunities that will reduce TELUS’ leverage and interest outlays.”
“Reflecting our TELUS team’s long-standing dedication to putting our customers and communities first, this month we will celebrate our 20th annual TELUS Days of Giving in 33 countries,” persisted Darren. “Over the past two decades, thanks to the support of our valued clients, we have led our corporate peers globally by contributing 2.4 million volunteer days in the communities where we live and work…striving to make the future friendly for all,” concluded Darren.
Doug French, Government Vice-president and CFO mentioned, “Our first quarter results in 2025 are a testament to our disciplined operational execution and cost management amidst a dynamic competitive landscape and macroeconomic environment. Within TTech, including our new TELUS Health reportable segment, Operating Revenues increased by 3 per cent and Adjusted EBITDA was higher by 4 per cent. These results were driven by our consistent emphasis on profitable customer growth, the benefits from our ongoing focus on cost efficiency and effectiveness, gains from asset divestitures, as well as our real estate and copper monetization program, as well as increasing margin contribution from TELUS Health and TELUS Agriculture & Consumer Goods. Additionally, our robust free cash flow generation of 22 per cent, alongside 13 per cent growth in cash from operations, underscores our solid financial foundation and our ability to continue investing in strategic growth initiatives.”
“Additionally, our financial position remains robust and as we progress through 2025 and beyond, we are committed to improving our leverage ratio, targeting a net debt to EBITDA ratio of 3-times by 2027, alongside removing the discount associated with our dividend reinvestment program. In April, we successfully raised $1.6 billion in hybrid debt securities, with the net proceeds being entirely directed to debt repayment, and 50 per cent of the proceeds receiving equity credit treatment by credit rating agencies, further demonstrating our commitment to deleveraging our balance sheet. On a pro-forma basis, when including the benefit of our hybrid offering, leverage at the end of the quarter would be approximately 3.8-times. Our efforts to strengthen our balance sheet will be further supported by sustained organic operational growth, including continued EBITDA growth, declining capital intensity and free cash flow expansion. Furthermore, ongoing monetization initiatives, including the divestiture of non-core assets, as well as continued real estate and copper monetization, coupled with other key strategic levers actively being considered, including the potential monetization of wireless towers, will further enhance our efforts to strengthen our balance sheet. Deleveraging will be done alongside reducing the dividend reinvestment plan discount from the current 2 per cent by half a percentage point in each of 2026 and 2027, before removing it completely at the end of 2027.”
“As we progress through the remainder of 2025, we are well-positioned to drive strong, sustainable growth. Our leading asset mix and robust business strategy underpin our confidence in achieving our full year financial targets that we reiterated today. We continue to leverage our formidable strengths to deliver unparalleled value and performance for our stakeholders, firmly positioning TELUS as an industry leader in operational excellence and financial resilience,” concluded Doug.
As in comparison to the similar length a 12 months in the past, internet revenue within the quarter of $301 million was once up 115 in keeping with cent and Modest income in keeping with proportion (EPS) of $0.21 larger through 133 in keeping with cent. Those will increase had been pushed through the after-tax affects of expansion in Running Source of revenue and a shorten in Financing prices, in large part pushed through the reclassification of unrealized adjustments within the ahead part of digital energy acquire word of honour from Financing prices to Alternative complete revenue. Because it pertains to EPS, the rise additionally displays the impact of a better choice of Habitual Stocks exceptional. When apart from positive prices and alternative changes (see ‘Reconciliation of adjusted Web revenue‘ on this information let fall), adjusted internet revenue of $388 million and changed unsophisticated EPS of $0.26 had been flat over the similar length ultimate 12 months. Adjusted internet revenue is a non-GAAP monetary measure and changed unsophisticated EPS is a non-GAAP ratio. For additional rationalization of those measures, see ‘Non-GAAP and alternative specified monetary measures‘ on this information let fall.
In comparison to the similar length ultimate 12 months, consolidated EBITDA larger through 6 in keeping with cent to over $1.7 billion and displays abase restructuring and alternative prices, connected to prior 12 months investments in value potency and effectiveness methods, together with actual property clarification. Adjusted EBITDA reduced modestly through 1 in keeping with cent to greater than $1.8 billion. This abate displays various effects throughout our reportable departments. TELUS Virtual Adjusted EBITDA reduced through 38 in keeping with cent, basically because of abase internet reversals of provisions connected to trade mixtures and better investments in company projects. Those projects integrated the growth of its industrial gross sales group and operational effectiveness methods. TTech, alternatively, noticed a three in keeping with cent expansion in Adjusted EBITDA. This expansion was once pushed through a number of components: (i) value aid efforts, together with group of workers discounts and larger leveraging of TELUS Virtual make happen aggressive advantages given the lower price construction in TELUS Virtual, in addition to financial savings in administrative and advertising and marketing prices; (ii) cell, residential information superhighway, safety and automation, and TV subscriber expansion; (iii) larger internet good points from the divestiture of non-core belongings as deliberate; (iv) larger agriculture and client items margins; and (v) larger Alternative revenue. Those components had been partly offset through: (i) abase cell ARPU; (ii) abase cell apparatus margins; (iii) an build up in sinister debt expense; (iv) declining constant legacy tonality and TV margins; (v) larger community operations prices; and (vi) larger prices of subscription-based licenses and cloud utilization. Finally, TELUS Fitness skilled a 30 in keeping with cent build up in Adjusted EBITDA pushed through natural expansion throughout more than one income streams.
Within the first quarter of 2025, we added 218,000 internet buyer additions, up 9,000 over the similar length ultimate 12 months, and inclusive of 20,000 cellphones and 148,000 hooked up gadgets, along with 21,000 information superhighway, 27,000 TV and 15,000 safety and automation buyer connections. This was once partially offset through residential tonality losses of 13,000. Our general TTech subscriber bottom of 20.3 million is up 6 in keeping with cent over the ultimate three hundred and sixty five days, reflecting a three in keeping with cent build up in our cellphones subscriber bottom to over 10.1 million and a 21 in keeping with cent build up in our hooked up gadgets subscriber bottom to roughly 3.9 million. Moreover, our information superhighway connections grew through 2 in keeping with cent over the ultimate three hundred and sixty five days to over 2.7 million buyer connections, our TV connections grew through 8 in keeping with cent over the ultimate three hundred and sixty five days to over 1.4 million buyer connections, and our safety and automation subscriber bottom larger through 5 in keeping with cent to greater than 1.1 million buyer connections. Our residential tonality subscriber bottom declined reasonably through 4 in keeping with cent to greater than 1.0 million.
In TELUS Fitness, as of the top of the primary quarter of 2025, healthcare lives coated had been 76.5 million, up 7 in keeping with cent over the while three hundred and sixty five days.
Money supplied through working actions of $1.1 billion larger through 13 in keeping with cent within the first quarter of 2025, basically pushed through EBITDA expansion and alternative operating capital adjustments, partly offset through larger revenue taxes paid and larger pastime paid. Independent coins wave of $488 million larger through 22 in keeping with cent in comparison to the similar length a 12 months in the past reflecting abase capital expenditures and better EBITDA. Those components had been partly offset through larger revenue taxes paid and larger pastime paid.
Consolidated capital expenditures of $587 million, reduced through $138 million or 19 in keeping with cent within the first quarter of 2025. The shorten basically displays: (i) TTech operations capital expenditures of $507 million, which reduced through $142 million within the first quarter of 2025, because of prioritization and deferral of initiatives, the deliberate slowdown of our thread and wi-fi community builds, and the evolution of our brownfield and unutilized expansion marketplace thread builds underneath a partner-build type; and (ii) TTech actual property construction capital expenditures of $8 million, which reduced through $6 million within the first quarter of 2025, pushed through the of completion of one in all our industrial structures, along with the of completion of main procurements for our nearest industrial structures. TELUS Fitness capital expenditures had been unchanged within the first quarter of 2025 at $44 million. This was once partly offset through TELUS Virtual capital expenditures of $41 million, which larger through $15 million within the first quarter of 2025, basically pushed through the put up out of amenities in Asia, Africa and Europe, to put into effect strategic buyer enjoy capability enlargement and better investments for the improvement of Gasoline iX and AI platforms.
As at March 31, 2025, our 5G community coated roughly 32.4 million Canadians, representing over 87 in keeping with cent of the nation.
Consolidated Monetary Highlights
C$ hundreds of thousands, with the exception of footnotes and until famous in a different way |
3 months ended |
In step with cent |
|
(unaudited) |
2025 |
2024 |
trade |
Running revenues (bobbing up from commitments with shoppers) |
5,018 |
4,866 |
3 |
Running revenues and alternative revenue |
5,057 |
4,932 |
3 |
General working bills |
4,305 |
4,357 |
(1) |
Web revenue |
301 |
140 |
n/m |
Web revenue as a result of ordinary stocks |
321 |
127 |
n/m |
Adjusted Web revenue(1) |
388 |
390 |
(1) |
Modest EPS ($) |
0.21 |
0.09 |
n/m |
Adjusted unsophisticated EPS(1) ($) |
0.26 |
0.26 |
– |
EBITDA(1) |
1,744 |
1,638 |
6 |
Adjusted EBITDA(1) |
1,841 |
1,856 |
(1) |
Capital expenditures(2) |
587 |
725 |
(19) |
Money supplied through working actions |
1,077 |
950 |
13 |
Independent coins wave(1) |
488 |
399 |
22 |
General telecom subscriber connections(3) (1000’s) |
20,297 |
19,168 |
6 |
Healthcare lives coated (hundreds of thousands) |
76.5 |
71.7 |
7 |
Notations worn within the tables above: n/m – no longer significant. |
|
(1) |
Those are non-GAAP and alternative specified monetary measures, which do not need standardized meanings underneath IFRS Accounting Requirements and is probably not similar to these worn through alternative issuers. For additional definitions and explanations of those measures, see ‘Non-GAAP and alternative specified monetary measures‘ on this information let fall. |
(2) |
Capital expenditures come with belongings bought, apart from right-of-use hire belongings, however no longer but paid for, and because of this range from coins bills for capital belongings, apart from spectrum licences, as reported within the consolidated monetary statements. The following Be aware 31 of the condensed meantime consolidated monetary statements for additional knowledge. |
(3) |
The sum of energetic cell phone subscribers, hooked up tool subscribers, information superhighway subscribers, residential tonality subscribers, TV subscribers, and safety and automation subscribers, gradual on the finish of the respective sessions in accordance with knowledge in billing and alternative supply techniques. Efficient January 1, 2025, we adjusted our cell phone subscriber bottom to take away 30,000 subscribers on a potential foundation, following an in-depth assessment of purchaser accounts. Efficient January 1, 2025, we adjusted our information superhighway subscriber bottom to take away 66,000 subscribers on a potential foundation, because of a assessment of our subscriber bottom. |
First Quarter 2025 Running Highlights
TELUS era answers (TTech)
- TTech working revenues (bobbing up from commitments with shoppers) larger through $74 million or 2 in keeping with cent within the first quarter of 2025, basically reflecting will increase in cell apparatus and alternative carrier revenues, constant information products and services revenues, constant apparatus and alternative carrier revenues, and agriculture and client items products and services, as described beneath. Decreases in constant tonality products and services revenues and cell community income had been partiality offsets.
- TTech EBITDA larger through $154 million or 11 in keeping with cent within the first quarter of 2025, week TTech Adjusted EBITDA larger through $49 million or 3 in keeping with cent, reflecting: (i) value aid efforts, together with group of workers discounts, and larger adoption of TELUS Virtual’s answers throughout TTech operations, make happen aggressive advantages given the lower price construction in TELUS Virtual, in addition to discounts in advertising and marketing and administrative prices; (ii) cell, residential information superhighway, safety and automation, and TV subscriber expansion; (iii) larger internet good points from the divestiture of non-core belongings as deliberate; and (iv) larger agriculture and client items margins. Those components had been partly offset through: (i) abase cell phone ARPU; (ii) abase good points on actual property initiatives; (iii) abase cell apparatus margins; (iv) an build up in sinister debt expense; (v) declining constant legacy tonality and TV margins; (vi) larger community operations prices; and (vii) larger prices of subscription-based licences and cloud utilization.
Cellular services and products
- Cellular community income reduced through $14 million or 1 in keeping with cent within the first quarter of 2025, in large part because of abase cell phone ARPU, partly offset through expansion in our cell phone subscriber bottom and an build up in IoT connections.
- Cellular apparatus and alternative carrier revenues larger through $43 million or 9 in keeping with cent within the first quarter of 2025, reflecting the affect of higher-value smartphones within the gross sales combine, partly offset through a little aid in gotten smaller volumes.
- TTech cell services and products direct contribution reduced through $52 million or 3 in keeping with cent within the first quarter of 2025, in large part reflecting the affect of abase cell phone ARPU and abase cell apparatus margin because of extra intense aggressive value discounting and abase gotten smaller volumes. Those components had been partly offset through cell phone subscriber expansion.
- Cell phone ARPU was once $57.13 within the first quarter of 2025, reflecting a shorten of $2.18 or 3.7 in keeping with cent, as a result of the adoption of bottom fee plans with abase costs in accordance with extra intense advertising and marketing and promotional price cutting war focused on each unutilized and current shoppers, and a abate in overage and roaming revenues, partly offset through larger IoT income. We’re eye a seamless build up within the adoption of limitless information and Canada-U.S.-Mexico plans, which lend larger and extra strong ARPU on a per month foundation week additionally giving shoppers value simple task in abase roaming charges to the U.S. and Mexico, and abase information overage charges, respectively.
- Cell phone rude additions had been 339,000 within the first quarter of 2025, reflecting a shorten of 37,000, pushed through decelerating expansion within the Canadian nation, along with a better emphasis on top rate and winning loading.
- Cell phone internet additions had been 20,000 within the first quarter of 2025, reflecting a shorten of 25,000, pushed through abase cell phone rude additions, partly offset through a abase cell phone churn fee.
- Our cell phone churn fee was once 1.06 in keeping with cent within the first quarter of 2025, in comparison to 1.13 in keeping with cent within the first quarter of 2024, in large part because of our ongoing center of attention on buyer retention and our industry-leading carrier and community property, at the side of a hit promotions and bundled choices.
- Hooked up tool internet additions had been 148,000 within the first quarter of 2025, an build up of 47,000, as a result of expansion in IoT connections from shoppers within the transportation, impish safety and connectivity industries.
Mounted services and products
- Mounted information products and services revenues larger through $33 million or 3 in keeping with cent within the first quarter of 2025, pushed through expansion in our information superhighway, safety and automation and TV subscriber bases, paired with larger income in keeping with buyer from information superhighway and safety and automation. Those components had been partly offset through abase TV income in keeping with buyer, reflecting an build up within the combine of consumers settling on smaller TV mixture applications and technological substitution.
- Mounted tonality products and services revenues reduced through $9 million or 5 in keeping with cent within the first quarter of 2025, reflecting the continued abate in legacy tonality revenues because of technological substitution and shifts in client buying choices. Declines had been partially mitigated through the luck of our bundled product choices and our retention efforts.
- Mounted apparatus and alternative carrier revenues larger through $5 million or 4 in keeping with cent within the first quarter of 2025, in large part pushed through will increase in safety premises apparatus gross sales.
- TTech constant services and products direct contribution larger through $25 million or 2 in keeping with cent within the first quarter of 2025, basically pushed through persisted information superhighway and safety and automation subscriber expansion, and expansion in agriculture and client items revenues. Those components had been partly offset through declines in legacy tonality and TV margins as a result of technological substitution.
- Web internet additions had been 21,000 within the first quarter of 2025, a shorten of 9,000, reflecting abase marketplace expansion and heightened aggressive pressures partly offset through the energy in our thread optical providing.
- TV internet additions had been 27,000 within the first quarter of 2025, an build up of 8,000, as a result of our various choices, together with Current+, which deal with the converting wishes and personal tastes of shoppers.
- Safety and automation internet additions had been 15,000 within the first quarter of 2025, a shorten of seven,000, reflecting a better churn fee connected to shifts in client buying choices, partly offset through the expanding call for for our bundled choices and various suite of services and products.
- Residential tonality internet losses had been 13,000 within the first quarter of 2025, an build up of five,000 losses, reflecting abase rude additions, partly offset through leveraging our bundled product and lower-priced choices which has been a hit in mitigating losses and minimizing substitution to cell and internet-based products and services.
Agriculture and client items products and services
- Agriculture and client items products and services revenues larger through $16 million or 20 in keeping with cent within the first quarter of 2025, basically as a result of trade acquisitions, advanced natural expansion in client items products and services and beneficial foreign currency fee affects. Those components had been partly offset through declines in animal agriculture answers.
TELUS Fitness
- Fitness products and services revenues larger through $54 million or 13 in keeping with cent within the first quarter of 2025, pushed through: (i) world trade acquisitions right through 2024 in employer answers in addition to natural expansion; (ii) expansion in payvider, with robust efficiency in condition advantages control products and services, collaborative condition information and digital pharmacy answers; and (iii) expansion within the escape and advantages answers trade.
- Fitness apparatus revenues reduced through $3 million or 75 in keeping with cent within the first quarter of 2025, because of larger income within the prior length from a pharmacy {hardware} improve program in our payvider vertical.
- TELUS Fitness direct contribution larger through $37 million or 17 in keeping with cent within the first quarter of 2025, reflecting: (i) income expansion as described within the income division; and (ii) value aid efforts, concerned about decreasing our value to lend.
- TELUS Fitness EBITDA larger through $32 million or 90 in keeping with cent within the first quarter of 2025 week TELUS Fitness Adjusted EBITDA larger through $17 million or 30 in keeping with cent, reflecting: income expansion and value aid efforts as described within the direct contribution division, in addition to persisted realization of acquisition integration synergies. Those components had been partly offset through larger oblique prices connected to: (i) world trade acquisitions right through 2024; and (ii) the scaling of our virtual functions, inclusive of larger subscription-based licences, contractor and cloud utilization prices.
- On the finish of the primary quarter of 2025, our healthcare methods coated 76.5 million lives, an build up of four.8 million over the while one year, basically reflecting tough expansion in our worker and community support methods (EFAP) throughout all of our working areas, along with persisted call for for digital answers.
TELUS Virtual
- TELUS Virtual working revenues (bobbing up from commitments with shoppers) larger through $27 million or 4 in keeping with cent within the first quarter of 2025, basically as a result of: (i) the sustaining of each the U.S. buck and the Eu euro towards the Canadian buck, which ended in a beneficial foreign currencies affect on our TELUS Virtual working effects; (ii) expansion in products and services supplied to current purchasers, together with a main social media shopper; and (iii) unutilized purchasers added because the similar length within the prior 12 months. Those will increase had been partly offset through abase revenues earned from positive era and eCommerce purchasers, together with Google.
- Income from our tech and video games {industry} vertical larger through $31 million or 8 in keeping with cent within the first quarter of 2025, basically because of larger income from a main social media shopper and sure alternative era purchasers, partly offset through a shorten in income from alternative purchasers inside this {industry} vertical, together with Google.
- Income from our communications and media {industry} vertical larger through $32 million or 15 in keeping with cent within the first quarter of 2025, pushed basically through extra products and services supplied to the TTech area, partly offset through abase carrier income from positive alternative telecommunication purchasers.
- Income from our eCommerce and fintech {industry} vertical reduced through $9 million or 10 in keeping with cent within the first quarter of 2025, because of a abate in carrier volumes from a immense eCommerce shopper in addition to positive fintech purchasers.
- Income from our healthcare {industry} vertical larger through $6 million or 9 in keeping with cent within the first quarter of 2025, basically because of spare products and services supplied to the TELUS condition area.
- Income from our banking, monetary products and services and insurance coverage {industry} vertical larger through $8 million or 16 in keeping with cent within the first quarter of 2025, basically because of expansion from positive Canadian-based banks and smaller regional monetary products and services corporations in North The us and an international monetary establishment shopper.
- All alternative verticals larger through $9 million or 10 in keeping with cent within the first quarter of 2025, because of larger income throughout diverse shopper accounts.
- TELUS Virtual EBITDA reduced through $77 million or 39 in keeping with cent within the first quarter of 2025 week TELUS Virtual Adjusted EBITDA reduced through $78 million or 38 in keeping with cent. The shorten in Adjusted EBITDA was once because of an build up in salaries and advantages and items and products and services bought outpacing income expansion, in addition to Alternative revenue generated within the prior 12 months’s comparative length related to a discount of our provisions for written put choices, and better share-based reimbursement.
Dividend Declaration
The TELUS Board of Administrators declared a quarterly dividend of $0.4163 in keeping with proportion at the issued and exceptional Habitual Stocks of the Corporate payable on July 2, 2025 to holders of report on the akin of commercial on June 10, 2025. This quarterly dividend displays an build up of seven in keeping with cent from the $0.3891 in keeping with proportion dividend declared one 12 months previous and in line with our multi-year dividend expansion program. When a dividend cost week falls on a weekend or amusement, the cost might be made at the after succeeding life that could be a trade life.
Company Highlights
TELUS makes important contributions and investments within the communities the place group contributors are living, paintings and lend and to the Canadian financial system on behalf of consumers, shareholders and group contributors. Those come with:
- Paying, amassing and remitting greater than $657 million within the first quarter of 2025 to federal, provincial and municipal governments in Canada consisting of company revenue taxes, gross sales taxes, detail taxes, employer portion of payroll taxes and diverse regulatory charges. Since 2000, we’ve remitted greater than $38 billion in those taxes.
- Making an investment $587 million in capital expenditures basically in communities throughout Canada within the first quarter of 2025 and roughly $57 billion since 2000.
- Disbursing spectrum renewal charges of $58 million to Innovation, Science and Financial Building Canada within the first quarter of 2025. Since 2000, our general tax and spectrum remittances to federal, provincial and municipal governments in Canada have totalled greater than $46 billion.
- Spending $2.4 billion in general working bills within the first quarter of 2025, together with items and products and services bought of roughly $1.6 billion. Since 2000, we’ve spent $171 billion and $116 billion, respectively, in those gardens.
- Producing a complete group member payroll of $835 million within the first quarter of 2025, together with wages and alternative worker advantages, and payroll taxes of roughly $71 million. Since 2000, general group member payroll totals $66 billion.
- Returning roughly $610 million in dividends declared thru April 2025 to particular person shareholders, mutual investmrent homeowners, pensioners and institutional traders. Since 2004, we’ve returned roughly $28 billion to shareholders thru our dividend and proportion acquire methods, together with roughly $23 billion in dividends and $5.2 billion in proportion repurchases, representing greater than $18 in keeping with proportion.
People Highlights
Empowering Canadians with Connectivity
- During the primary quarter of 2025, we persisted to leverage our TELUS Connecting for Just right® methods to backup marginalized folks through bettering their get right of entry to to each era and healthcare, in addition to our TELUS Sensible® program to reinforce virtual literacy and on-line protection wisdom. Because the starting of those methods, they have got supplied backup for 1.4 million Canadians.
- Right through the quarter, we welcomed greater than 3,500 unutilized families to our Web for Just right® program. Since we introduced this system in 2016, we’ve hooked up 67,000 families, making cheap high-speed information superhighway to be had to over 210,000 low-income seniors and contributors of low-income households, individuals with disabilities, government-assisted refugees and adolescence departure foster aid.
- Our Mobility for Just right® program offer sovereign or cheap smartphones and mobility plans to adolescence ageing out of foster aid, low-income seniors and households throughout Canada, in addition to government-assisted refugees and Indigenous ladies vulnerable to, or experiencing violence. Right through the primary 3 months of 2025, we added 2,200 marginalized folks to this system. Since we introduced Mobility for Just right in 2017, this system has supplied backup for 64,000 society.
- Thru TELUS Fitness for Just right®, we’re taking out healthcare boundaries for low-income and marginalized Canadians, facilitating just about 20,000 affected person visits and counselling periods over the quarter. Because the program introduced in 2014, our cell condition clinics have delivered over 278,000 number one aid and outreach visits throughout 27 Canadian communities, and we’ve supplied 2,500 sovereign counselling periods thru TELUS Fitness MyCareTM.
- Right through the quarter, our Tech for Just right® program supplied get right of entry to to personalised tests, suggestions and coaching on cell gadgets, computer systems, computers and connected assistive era and/or get right of entry to to discounted cell plans for 1,300 Canadians residing with disabilities, enabling them to manufacture enhancements of their property of hour and self rule. Since its inception in 2017, we’ve supplied backup for 14,000 folks in Canada who’re residing with disabilities, thru this system and/or the TELUS Wi-fi Accessibility Bargain.
- Right through the primary 3 months of 2025, akin to 40,000 folks in Canada and all over the world participated in digital TELUS Sensible workshops and occasions to reinforce their virtual literacy and on-line protection wisdom, bringing the overall cumulative choice of individuals to 840,000 because the program introduced in 2013.
Giving Again to Our Communities
- Right through the primary quarter of 2025 and right through the 12 months we’re celebrating our twenty fifth logo per annum and our legacy of giving again. For a quarter-century, TELUS, our group contributors and retirees have contributed $1.8 billion in coins, in-kind contributions, era and methods, together with 2.4 million days of volunteerism, to communities international.
- Recently, we’ve 19 TELUS People Forums, 13 working in Canada and 6 across the world. Our People Forums entrust native leaders to manufacture suggestions at the allocation of grants of their communities. Those grants backup registered charities that trade in condition, schooling or era methods to support adolescence. Since 2005, our 19 TELUS People Forums and the TELUS Pleasant Presen Bedrock® (the Bedrock) have supported greater than 35 million adolescence in want throughout Canada, and all over the world, through granting over $138 million in coins donations to ten,800 charitable projects.
- Operating in akin partnership with the 13 TELUS People Forums in Canada, the Bedrock distributes grants to charities that advertise schooling, condition and well-being for adolescence around the nation. As well as, throughout the TELUS Pupil Bursary program, the Bedrock supplies bursaries for post-secondary scholars who face monetary boundaries and are dedicated to creating a excess of their communities. Right through the primary quarter of 2025, the Bedrock supplied backup to 665,000 adolescence through granting $3 million in coins donations and bursaries to greater than 200 Canadian registered charities, people companions and initiatives. Since its inception in 2018, the Bedrock has directed greater than $60 million in coins donations to our communities and in bursary grants, serving to over 17 million adolescence achieve their complete doable. For more info in regards to the TELUS Pupil Bursary program, please talk over with friendlyfuture.com/bursary.
in ESG and Sustainability
- During the primary quarter of 2025, we maintained our world management in sustainability, in sequence with our constancy to backup a nature-positive moment. Key milestones over the while quarter integrated:
- Attaining a key milestone of 20 million timber planted throughout 13,300 hectares of land over the ultimate 25 years.
- Increasing the achieve of our TELUS SmartEnergy carrier to the province of Quebec in February. Now to be had throughout Canada, this answer permits shoppers to save cash on their power expenses and let go their environmental footprint.
- Launching our 2024 Sustainability and ESG report in April 2025
World Awards and 3rd Birthday party Popularity
- In January 2025, Logo Finance valued our logo at US$9.0 billion, up 4.6 in keeping with cent year-over-year, in its World 500 2025 Score. This ranks us as essentially the most significance telecom logo in Canada, the 8th maximum significance Canadian logo total and the fifteenth maximum significance telecom logo on the earth.
- In January 2025, we had been integrated within the Company Knights 2025 World 100 Maximum Sustainable Firms within the International – the thirteenth era we’ve been integrated since its advent in 2005.
Get right of entry to to quarterly effects knowledge
traders, the media and others would possibly assessment this quarterly income information let fall, control’s dialogue and research, quarterly effects slides, audio and transcript of the investor webcast name, alternative monetary knowledge at telus.com/investors.
TELUS’ first quarter 2025 convention name is scheduled for Friday, Might 9, 2025 at 1:30 pm ET (10:30 am PT) and can detail a presentation adopted through a query and solution length with funding analysts. events can get right of entry to the webcast at telus.com/investors. An audio recording shall be to be had roughly 60 mins next the decision till June 9, 2025 at 1-855-201-2300. Please quote convention get right of entry to code 47116# and playback get right of entry to code 47116#. An archive of the webcast can also be to be had at telus.com/investors and a transcript shall be posted at the web site inside a couple of trade days.
Warning relating to forward-looking statements
This information let fall incorporates forward-looking statements about anticipated occasions and the monetary and working efficiency of TELUS Company. The phrases TELUS, the Corporate, we, us and our the following TELUS Company and, the place the context of the narrative lets in or calls for, its subsidiaries.
Ahead-looking statements come with any statements that don’t the following historic information. They come with, however aren’t restricted to, statements with regards to our goals and our methods to succeed in the ones goals, our expectancies relating to traits within the telecommunications {industry} (together with call for for information and ongoing subscriber bottom expansion), and our financing plans (together with our deliberate leverage ratio in 2027, our multi-year dividend expansion program and our solution to lowering the cut price presented underneath our dividend re-investment plan). Ahead-looking statements are generally recognized through the phrases supposition, objective, steering, purpose, outlook, technique, goal and alternative indistinguishable expressions, or moment or conditional verbs similar to struggle, await, consider, may just, be expecting, intend, would possibly, plan, expect, search, will have to, try and will. Those statements are made pursuant to the “safe harbour” provisions of acceptable securities regulations in Canada and the US Non-public Securities Litigation Reform Employment of 1995.
Via their nature, forward-looking statements are matter to inherent dangers and uncertainties and are in accordance with suppositions, together with suppositions about moment financial statuses and lessons of motion. Those suppositions would possibly in the end end up to had been erroneous and, in consequence, our untouched effects or occasions would possibly range materially from expectancies expressed in or implied through the forward-looking statements. The suppositions for our 2025 outlook, as described in Category 9 in our 2024 annual MD&A, stay the similar, with the exception of for refer to:
- Our revised estimates for 2025 monetary expansion in Canada, B.C., Alberta, Ontario and Quebec are 1.2%, 1.5%, 2.0%, 1.0% and zero.9%, respectively (in comparison to 1.9%, 1.8%, 2.4%, 1.7% and 1.5%, respectively, as reported in our 2024 annual MD&A).
- Our revised estimates for 2025 annual inflation charges in Canada, B.C., Alberta, Ontario and Quebec are 2.3%, 2.4%, 2.3%, 2.2%, and a couple of.1%, respectively (in comparison to 2.0%, 1.8%, 2.0%, 1.9% and 1.8%, respectively, as reported in our 2024 annual MD&A).
- Our revised estimates for 2025 annual unemployment charges in Canada, B.C., Alberta, Ontario and Quebec are 7.0%, 6.1%, 7.3%, 7.8%, and six.1%, respectively (in comparison to 6.6%, 6.0%, 7.0%, 7.1% and 5.8%, respectively, as reported in our 2024 annual MD&A).
- Our revised estimates for 2025 annual charges of housing begins on an unadjusted foundation in Canada, B.C., Alberta, Ontario and Quebec are 232,000 devices, 41,000 devices, 46,000 devices, 68,000 devices and 49,000 devices, respectively (in comparison to 245,000 devices, 47,000 devices, 45,000 devices, 81,000 devices and 48,000 devices, respectively, as reported in our 2024 annual MD&A).
The level to which the monetary expansion estimates have an effect on us and the timing in their affect will rely on the untouched enjoy of explicit sectors of the Canadian financial system.
Dangers and uncertainties that would motive untouched efficiency or occasions to range materially from the forward-looking statements made herein and in alternative TELUS filings come with, however aren’t restricted to, refer to:
- Regulatory issues. We function in a variety of extremely regulated industries and are due to this fact matter to all kinds of regulations and laws regionally and across the world. Insurance policies and approaches complex through elected officers and regulatory choices, opinions and alternative authorities job will have strategic, operational and/or monetary affects (together with on income and sovereign coins wave).
- Dangers and uncertainties come with:
- doable adjustments to our regulatory regime or the results of complaints, circumstances or inquiries with regards to its software, together with, however no longer restricted to, the ones put forth in Category 9.1 Communications {industry} regulatory tendencies and complaints in our first quarter 2025 MD&A;
- our talent to agree to complicated and converting legislation of the healthcare, digital aid and scientific gadgets industries within the jurisdictions wherein we function, together with as an operator of condition clinics; and
- our talent to agree to, or facilitate our purchasers’ compliance with, various, complicated and infrequently conflicting prison regimes, each regionally and across the world.
- Aggressive condition. Competitor enlargement, job and depth (pricing, together with discounting, bundling), in addition to non-traditional pageant, disruptive era and disintermediation, would possibly regulate the character of the markets wherein we compete and affect our marketplace proportion and fiscal effects (together with income and sovereign coins wave). TELUS Fitness, TELUS Virtual and TELUS Agriculture & Shopper Items additionally face intense pageant of their respective other markets.
- Generation. Shopper adoption of supplementary applied sciences and converting buyer expectancies have the prospective to affect our income streams and buyer churn charges.
Dangers and uncertainties come with:- disruptive applied sciences, together with software-defined networks within the trade marketplace, that can displace or motive us to reprice our current information products and services, and self-installed era answers;
- any failure to innovate, preserve technological benefits or reply successfully and in a well timed means to adjustments in era;
- the roll-out, expected advantages and efficiencies, and ongoing evolution of wi-fi broadband applied sciences and techniques;
- our reliance on wi-fi community get right of entry to word of honour, that have facilitated our deployment of cell applied sciences;
- our anticipated long-term want to achieve spare spectrum thru moment spectrum auctions and from 0.33 events to fulfill rising call for for information, and our talent to make use of spectrum we achieve;
- deployment and operation of unutilized constant broadband community applied sciences at a cheap value and the supply and luck of unutilized services and products to be rolled out the use of such community applied sciences; and
- our deployment of self-learning gear and automation, which would possibly trade the way in which we have interaction with shoppers.
- Safety and knowledge coverage. Our talent to stumble on and determine doable blackmails and vulnerabilities relies on the effectiveness of our safety controls in protective our infrastructure and working condition, and our timeliness in responding to assaults and restoring trade operations. A a hit assault would possibly hinder the operations of our community or govern to the unauthorized get right of entry to to, interception, demolition, significance or dissemination of, buyer, group member or trade knowledge.
- Generative AI (GenAI). GenAI exposes us to various dangers, together with dangers connected to the operational reliability, accountable AI utilization, information privateness and cybersecurity, and the likelihood that our significance of AI would possibly generate erroneous or beside the point content material or assemble damaging perceptions amongst shoppers, and legislation may just additionally have an effect on moment implementation that would have an effect on call for for our products and services.
- Shape and the condition. Herbal screw ups, pandemics, disruptive occasions and atmosphere trade would possibly affect our operations, buyer pleasure and group member enjoy.
Our objectives to succeed in carbon neutrality and let go our greenhouse fuel (GHG) emissions in our operations are matter to our talent to spot, procure and put into effect answers that let go power intake and undertake cleaner assets of power, our talent to spot and manufacture appropriate investments in renewable power, together with within the mode of digital energy acquire word of honour, and our talent to proceed to comprehend important absolute discounts in power significance and the ensuing GHG emissions from our operations. - Operational efficiency and trade mixture. Investments and acquisitions provide alternatives to extend our operational scope, however would possibly disclose us to unutilized dangers. We could also be unsuccessful in gaining marketplace traction/proportion and understanding advantages, and integration efforts would possibly divert assets from alternative priorities.
Dangers come with:- our reliance on third-party cloud-based computing products and services to bring our IT products and services; and
- financial, political and alternative dangers related to doing trade globally (together with warfare and alternative geopolitical tendencies).
- Our techniques and processes. Programs and era innovation, upkeep and control would possibly affect our IT techniques and community reliability, in addition to our working prices.
Dangers and uncertainties come with:- our talent to preserve customer support and function our community within the tournament of human error or human-caused blackmails, similar to cyberattacks and kit disasters that would motive community outages;
- technical disruptions and infrastructure breakdowns;
- delays and emerging prices, together with because of authorities restrictions or industry movements; and
- the completeness and effectiveness of commercial perpetuity and crisis cure plans and responses.
- Our group. The impulsively evolving and extremely aggressive nature of our markets and working condition, at the side of the globalization and evolving demographic profile of our group of workers, and the effectiveness of our inner coaching, construction, succession and condition and well-being methods, would possibly affect our talent to draw, form and reserve group contributors with the abilities required to fulfill the converting wishes of our shoppers and our trade. Crew contributors would possibly face better psychological condition demanding situations related to the numerous trade projects on the group, which would possibly end result within the lack of key group contributors thru momentary and long-term incapacity. Integration of world trade acquisitions and concurrent integration actions would possibly affect operational potency, organizational tradition and engagement.
- Providers. We could also be impacted through provide chain disruptions and shortage of resiliency on the subject of world or native occasions. Dependence on a unmarried provider for merchandise, elements, carrier supply or backup would possibly affect our talent to successfully meet repeatedly converting and emerging buyer expectancies week keeping up property of carrier. Our providers’ talent to preserve and repair their product traces may just have an effect on the luck of upgrades to, and evolution of, era that we trade in.
- Actual property issues. Actual property investments are uncovered to conceivable financing dangers and dubiousness connected to moment call for, occupancy and condominium charges, particularly following the pandemic. Presen actual property tendencies will not be finished on finances or on era and won’t download hire constancy as deliberate.
- Financing, debt and dividends. Our talent to get right of entry to investment at optimum pricing could also be impacted through basic marketplace statuses and converting tests within the fixed-income and fairness capital markets relating to our talent to generate enough moment coins wave to carrier our debt. Our wave goal to pay dividends to shareholders may just constrain our talent to spend money on our operations to backup moment expansion.
Dangers and uncertainties come with:- our talent to significance fairness as a mode of attention in trade acquisitions is impacted through keep marketplace valuations of TELUS Habitual Stocks and TELUS World (Cda) Inc. subordinate balloting stocks;
- our capital expenditure ranges and doable outlays for spectrum licences in auctions or purchases from 0.33 events have an effect on and are suffering from: our broadband projects; our ongoing deployment of more moderen cell applied sciences; investments in community era required to agree to regulations and laws with regards to the protection of cyber techniques, together with bans at the services and products of positive distributors; investments in community resiliency and reliability; the allocation of assets to acquisitions and moment spectrum auctions held through Innovation, Science and Financial Building Canada (ISED). Our capital expenditure ranges may well be impacted if we don’t succeed in our focused operational and fiscal effects or if there are adjustments to our regulatory condition; and
- less than deliberate sovereign coins wave may just constrain our talent to spend money on operations, let go leverage or go back capital to shareholders. Quarterly dividend choices are made through our Board of Administrators in accordance with our monetary place and outlook. There will also be disagree guarantee that our dividend expansion program shall be maintained thru 2025 or renewed.
- TELUS Virtual’s talent to succeed in goals or alternative steering relating to its trade, which if no longer completed may just have an effect on TELUS’ talent to succeed in goals for the group as a complete and may just lead to a abate within the buying and selling value of the TELUS World (Cda) Inc. subordinate balloting stocks or the TELUS Habitual Stocks or each. Elements that can have an effect on TELUS Virtual’s monetary efficiency are described in TELUS World (Cda) Inc. folk filings to be had on SEDAR+ and EDGAR.
- Tax issues. Complexity of home and overseas tax regulations, laws and reporting necessities that follow to TELUS and our world working subsidiaries would possibly affect monetary effects. World acquisitions and enlargement of operations heighten our publicity to more than one methods of taxation.
- The financial system. Converting world financial statuses, together with a possible recession and alternating expectancies about inflation, in addition to our effectiveness in tracking and revising expansion suppositions and contingency plans, would possibly affect the fulfillment of our company goals, our monetary effects (together with sovereign coins wave), and our explained get advantages pension plans. Geopolitical uncertainties and doable price lists or non-tariff industry movements provide a chance of recession and would possibly motive shoppers to let go or lengthen discretionary spending, impacting unutilized carrier purchases or volumes of significance, and believe substitution through lower-priced choices.
- Litigation and prison issues. Complexity of, and compliance with, regulations, laws, constancy and expectancies will have a monetary and reputational affect.
Dangers come with:- our talent to safe towards current and doable claims or our talent to barter and workout indemnity rights or alternative protections in admire of such claims; and
- the complexity of prison compliance in home and overseas jurisdictions, together with compliance with pageant, anti-bribery and overseas corrupt practices regulations.
The suppositions underlying our forward-looking statements are described in spare attribute in Category 9 Normal traits, outlook and suppositions, and regulatory tendencies and complaints and Category 10 Dangers and chance control in our 2024 annual MD&A. The ones descriptions are integrated through reference on this cautionary observation. Updates to the suppositions on which our 2025 outlook is founded are offered in Category 9 Replace to basic traits, outlook and suppositions, and regulatory tendencies and complaints in our first quarter 2025 MD&A.
Extra dangers and uncertainties that aren’t these days identified to us or that we these days deem to be immaterial may additionally have a subject material antagonistic impact on our monetary place, monetary efficiency, coins flows, trade or recognition. Apart from as in a different way indicated on this report, the forward-looking statements made herein don’t mirror the prospective affect of any non-recurring or particular pieces or any mergers, acquisitions, tendencies or alternative trade mixtures or transactions that can be introduced or that can happen next the week of this report.
Readers are cautioned to not park undue reliance on forward-looking statements. Ahead-looking statements on this report describe our expectancies, and are in accordance with our suppositions, as on the week of this report and are matter to modify next this week. We deny any goal or legal responsibility
to replace or revise any forward-looking statements with the exception of as required through regulation.
This cautionary observation qualifies the entire forward-looking statements on this report.
Non-GAAP and alternative specified monetary measures
Now we have issued steering on and file positive non-GAAP measures which might be worn to guage the efficiency of TELUS, in addition to to decide compliance with debt covenants and to supremacy our capital construction. As non-GAAP measures in most cases do not need a standardized which means, they will not be similar to indistinguishable measures offered through alternative issuers. For positive monetary metrics, there are definitional variations between TELUS and TELUS Virtual Enjoy reporting. Those variations in large part stand from TELUS Virtual adopting definitions in line with follow in its {industry}. Securities laws require such measures to be obviously explained, certified and reconciled with their upcoming GAAP measure. Sure of the metrics do not need in most cases accredited {industry} definitions.
Adjusted Web revenue and changed unsophisticated income in keeping with proportion (EPS): Those are non-GAAP measures that do not need any standardized which means prescribed through IFRS Accounting Requirements and are due to this fact not going to be similar to indistinguishable measures offered through alternative issuers. Adjusted Web revenue excludes the results of restructuring and alternative prices, revenue tax-related changes, long-term debt prepayment top rate and alternative changes (recognized in refer to tables). Adjusted unsophisticated EPS is calculated as adjusted internet revenue divided through unsophisticated weighted-average ordinary stocks exceptional. Those measures are worn to guage efficiency at a consolidated stage and exclude pieces that, in control’s view, would possibly difficult to understand underlying traits in trade efficiency or pieces of an strange nature that don’t mirror our ongoing operations. They will have to no longer be regarded as choices to Web revenue and unsophisticated EPS in measuring TELUS’ efficiency.
Reconciliation of adjusted Web revenue
3 months ended March 31 |
||
C$ and in hundreds of thousands |
2025 |
2024 |
Web revenue as a result of Habitual Stocks |
321 |
127 |
Upload (deduct) quantities internet of quantity as a result of non-controlling pursuits: |
||
Restructuring and alternative prices |
93 |
213 |
Tax results of restructuring and alternative prices |
(24) |
(48) |
Actual property rationalization-related restructuring impairments |
3 |
68 |
Tax impact of actual property rationalization-related restructuring impairments |
(1) |
(18) |
Source of revenue tax-related changes |
(4) |
— |
Unrealized adjustments in digital energy acquire word of honour ahead part1 |
— |
66 |
Tax impact of unrealized adjustments in digital energy acquire word of honour ahead part1 |
— |
(18) |
Adjusted Web revenue |
388 |
390 |
(1) |
Efficient for the primary quarter of 2025, bobbing up from a potential trade in accounting coverage, which applies hedge accounting, (see Be aware 2(a) of the condensed meantime consolidated monetary statements), truthful cost changes, which have been prior to now integrated inside Financing prices, are actually integrated inside Alternative complete revenue. |
Reconciliation of adjusted unsophisticated EPS
3 months ended |
||
C$ |
2025 |
2024 |
Modest EPS |
0.21 |
0.09 |
Upload (deduct) quantities internet of quantity as a result of non-controlling pursuits: |
||
Restructuring and alternative prices, in keeping with proportion |
0.06 |
0.14 |
Tax impact of restructuring and alternative prices, in keeping with proportion |
(0.01) |
(0.03) |
Actual property rationalization-related restructuring impairments, in keeping with proportion |
— |
0.04 |
Tax impact of actual property rationalization-related restructuring impairments, in keeping with proportion |
— |
(0.01) |
Unrealized adjustments in digital energy acquire word of honour ahead part, in keeping with proportion1 |
— |
0.04 |
Tax impact of unrealized adjustments in digital energy acquire word of honour ahead part, in keeping with proportion1 |
— |
(0.01) |
Adjusted unsophisticated EPS |
0.26 |
0.26 |
(1) |
Efficient for the primary quarter of 2025, bobbing up from a potential trade in accounting coverage, which applies hedge accounting, (see Be aware 2(a) of the condensed meantime consolidated monetary statements), truthful cost changes, which have been prior to now integrated inside Financing prices, are actually integrated inside Alternative complete revenue. |
EBITDA (income prior to pastime, revenue taxes, depreciation and amortization): Now we have issued steering on and file EBITDA as a result of this is a key measure worn to guage efficiency at a consolidated stage. EBITDA is frequently reported and broadly worn through traders and lending establishments as a hallmark of an organization’s working efficiency and talent to incur and repair debt, and as a valuation metric. EBITDA will have to no longer be regarded as an supplementary to Web revenue in measuring TELUS’ efficiency, nor will have to it’s worn as a measure of money wave. EBITDA as calculated through TELUS is an identical to Running revenues and alternative revenue much less the overall of Items and products and services bought expense and Worker advantages expense.
We additionally calculate Adjusted EBITDA to exclude pieces of an strange nature that don’t mirror our ongoing operations and will have to no longer, in our opinion, be regarded as in a long-term valuation metric or will have to no longer be integrated in an overview of our talent to carrier or incur debt.
EBITDA and Adjusted EBITDA reconciliations |
||||||||||
TTech |
TELUS Fitness |
TELUS Virtual |
Eliminations |
General |
||||||
3-month sessions ended March 31 (C$ hundreds of thousands) |
2025 |
20241 |
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
Web revenue |
301 |
140 |
||||||||
Financing prices |
344 |
394 |
||||||||
Source of revenue taxes |
107 |
41 |
||||||||
EBIT |
801 |
572 |
(40) |
(78) |
4 |
91 |
(13) |
(10) |
752 |
575 |
Depreciation |
529 |
621 |
13 |
23 |
50 |
46 |
— |
— |
592 |
690 |
Amortization of intangible belongings |
240 |
223 |
94 |
90 |
66 |
60 |
— |
— |
400 |
373 |
EBITDA |
1,570 |
1,416 |
67 |
35 |
120 |
197 |
(13) |
(10) |
1,744 |
1,638 |
Upload restructuring and alternative prices integrated in EBITDA |
79 |
184 |
9 |
24 |
9 |
10 |
— |
— |
97 |
218 |
Adjusted EBITDA |
1,649 |
1,600 |
76 |
59 |
129 |
207 |
(13) |
(10) |
1,841 |
1,856 |
Mixed TTech and TELUS Fitness Adjusted EBITDA |
1,725 |
1,659 |
Adjusted EBITDA much less capital expenditures is calculated for our reportable departments, because it represents a efficiency measure that can be extra similar to indistinguishable measures offered through alternative issuers.
Adjusted EBITDA much less capital expenditures reconciliation |
||||||||||
TTech |
TELUS Fitness |
TELUS Virtual |
Eliminations |
General |
||||||
3-month sessions ended March 31 (C$ hundreds of thousands) |
2025 |
20241 |
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
Adjusted EBITDA |
1,649 |
1,600 |
76 |
59 |
129 |
207 |
(13) |
(10) |
1,841 |
1,856 |
Capital expenditures |
(515) |
(663) |
(44) |
(44) |
(41) |
(26) |
13 |
8 |
(587) |
(725) |
Adjusted EBITDA much less capital expenditures |
1,134 |
937 |
32 |
15 |
88 |
181 |
— |
(2) |
1,254 |
1,131 |
(1) TTech effects for 2024 had been restated to adapt with our unutilized segmented reporting construction.
Independent coins wave: We file this measure as a alternative indicator of our working efficiency, and there’s no in most cases accredited {industry} definition of sovereign coins wave. It will have to no longer be regarded as as an supplementary to the measures within the condensed meantime consolidated statements of money flows. Independent coins wave excludes positive operating capital adjustments (similar to industry receivables and industry payables), proceeds from divested belongings and alternative assets and makes use of of money, as reported within the condensed meantime consolidated statements of money flows. It supplies a sign of how much money generated through operations is to be had next capital expenditures that can be worn to, amongst alternative issues, pay dividends, pay off debt, acquire stocks or manufacture alternative investments. We exclude affects of accounting requirements that don’t affect coins, similar to IFRS 15 and IFRS 16. Independent coins wave could also be supplemented from era to era through proceeds from divested belongings or financing actions.
Independent coins wave calculation |
||
3 months ended March 31 |
||
C$ hundreds of thousands |
2025 |
2024 |
EBITDA |
1,744 |
1,638 |
Restructuring and alternative prices, internet of disbursements |
(36) |
(11) |
Results of pledge asset, acquisition and fulfilment (IFRS 15 affect) and TELUS Simple Fee cell tool financing |
28 |
34 |
Results of hire most important (IFRS 16 affect) |
(193) |
(178) |
Pieces from the condensed meantime consolidated statements of money flows: |
||
Proportion-based reimbursement, internet of worker proportion acquire plan coins outflows |
42 |
30 |
Web worker explained get advantages plans expense |
15 |
17 |
Employer contributions to worker explained get advantages plans |
(5) |
(8) |
Loss from fairness accounted investments and alternative |
— |
5 |
Pastime paid |
(371) |
(334) |
Pastime won |
5 |
11 |
Capital expenditures1 |
(587) |
(725) |
Independent coins wave prior to revenue taxes |
642 |
479 |
Source of revenue taxes paid, internet of refunds |
(154) |
(80) |
Independent coins wave |
488 |
399 |
Reconciliation of sovereign coins wave with Money supplied through working actions |
||
3 months ended March 31 |
||
C$ hundreds of thousands |
2025 |
2024 |
Independent coins wave |
488 |
399 |
Upload (deduct): |
||
Capital expenditures1 |
587 |
725 |
Results of hire most important |
193 |
178 |
Web trade in non-cash working operating capital no longer integrated in previous sequence pieces and alternative personally immaterial pieces integrated in Web revenue neither offering nor the use of coins |
(191) |
(352) |
Money supplied through working actions |
1,077 |
950 |
(1) The following Be aware 31 of the condensed meantime consolidated monetary statements for additional knowledge. |
Cell phone common income in keeping with subscriber in keeping with year (ARPU) is calculated as community income derived from per month carrier plan, roaming and utilization fees; divided through the common choice of cell phone subscribers at the community throughout the length, and is expressed as a fee in keeping with year.
Appendix
Running revenues and alternative revenue – TTech area
C$ hundreds of thousands |
3 months ended |
In step with cent |
|
(unaudited) |
2025 |
2024 (restated) |
|
Cellular community income |
1,732 |
1,746 |
(1) |
Cellular apparatus and alternative carrier revenues |
524 |
481 |
9 |
Mounted information products and services(1) |
1,192 |
1,159 |
3 |
Mounted tonality products and services |
170 |
179 |
(5) |
Mounted apparatus and alternative carrier revenues |
122 |
117 |
4 |
Agriculture and client items products and services |
98 |
82 |
20 |
Running revenues (bobbing up from commitments with shoppers) |
3,838 |
3,764 |
2 |
Alternative revenue |
39 |
27 |
44 |
Exterior Running revenues and alternative revenue |
3,877 |
3,791 |
2 |
Intersegment revenues |
6 |
5 |
20 |
TTech Running revenues and alternative revenue |
3,883 |
3,796 |
2 |
(1) Excludes agriculture and client items products and services. |
Running revenues and alternative revenue – TELUS condition area
C$ hundreds of thousands |
3 months ended |
In step with cent trade |
|
(unaudited) |
2025 |
2024 |
|
Fitness products and services |
470 |
416 |
13 |
Fitness apparatus |
1 |
4 |
(75) |
Running revenues (bobbing up from commitments with shoppers) |
471 |
420 |
12 |
Intersegment revenues |
2 |
2 |
— |
TELUS Fitness Running revenues and alternative revenue |
473 |
422 |
12 |
Running revenues and alternative revenue – TELUS virtual enjoy area
C$ hundreds of thousands |
3 months ended |
In step with cent trade |
|
(unaudited) |
2025 |
2024 |
|
Running revenues (bobbing up from commitments with shoppers) |
709 |
682 |
4 |
Alternative revenue |
— |
39 |
(100) |
Exterior Running revenues and alternative revenue |
709 |
721 |
(2) |
Intersegment revenues |
253 |
203 |
25 |
TELUS Virtual Running revenues and alternative revenue |
962 |
924 |
4 |
About TELUS
TELUS (TSX: T, NYSE: TU) is a world-leading communications era corporate, producing over $20 billion in annual income with greater than 20 million buyer connections thru our complex suite of broadband products and services for shoppers, companies and the folk sector. We’re dedicated to leveraging our era to permit important human results. TELUS is enthusiastic about hanging our shoppers and communities first, main the way in which globally in shopper carrier excellence and social capitalism. Our TELUS Fitness trade is bettering greater than 76 million lives international thru leading edge preventive medication and well-being applied sciences. Our TELUS Agriculture & Shopper Items trade makes use of virtual applied sciences and knowledge insights to optimize the relationship between manufacturers and shoppers. Guided through our enduring ‘give the place we are living’ philosophy, TELUS, our group contributors and retirees have contributed $1.8 billion in coins, in-kind contributions, era and methods together with 2.4 million days of carrier since 2000, incomes us the respect of the arena’s maximum giving corporate. For more info, talk over with telus.com or practice @TELUSNews on X and @Darren_Entwistle on Instagram.
Investor Members of the family
Robert Mitchell
[email protected]
Media Members of the family
Steve Beisswanger
[email protected]
SOURCE TELUS Company