Rogers Fourth Quarter Revenues Up, But Media Division Lags

Q4

ROGERS COMMUNICATIONS fourth quarter 2017 overall revenue rose 3% to C$3.632 billion, with Adjusted Net Income up 19% to C$455 million (88 cents/share).  Media revenue, including the company's radio, TV, and sports properties, decreased 4% to C$526 million, blamed mostly on lower revenue from the TORONTO BLUE JAYS, who made the playoffs in 2016 but not in 2017, and lower publishing revenue due to the shift to a digital strategy, partly offset by increases at SPORTSNET and TODAY'S SHOPPING CHOICE (TSC).

"We delivered excellent results in 2017, with the best financial and subscriber performance in many years," said President/CEO JOE NATALE. "We also reported strong financial results in the fourth quarter, including growth in revenue, adjusted operating profit and margins. Our 2018 guidance reflects accelerated growth in profit and free cash flow along with well-timed, strategic investments in our networks. We enter 2018 bullish about the growth in our core business and with a clear plan focused on enhancing our customers' experience and capturing cost efficiencies to drive sustainable growth."

2018 guidance is for a 3-5% increase in revenue and a 5-7% increase in EBITDA.

The ROGERS Board of Directors also declared a quarterly dividend of 48 cents per share for its Class B Non-Voting shares and Class A Voting shares. The dividend will be paid APRIL 3rd to shareholders of record on MARCH 12th.

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