The following is a summary of the Quebecor Inc. (QBCRF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Quebecor's Q1 2024 revenue increased by 22% to $1.36 billion, with EBITDA up by 26% to $560 million and cash flow from operation by 21% to $419 million.

• The company reduced its debt by $145 million, resulting in an improved debt to EBITDA ratio of 3.3 times.

• In the Telecom sector, wireless revenues increased by 104%, wireless EBITDA by 80%, and wireless free cash flows increased also by 80% to $681 million.

• Net income attributable to shareholders was $173 million, up from $121 million in the same quarter the previous year.

Business Progress:

• The Q1 2024 marks the end of the first cycle of Freedom Mobile's operation integration, which significantly impacted the company's leverage.

• Quebecor launched two new affordable home Internet and TV services, expanding its telecom product portfolio and encouraging healthier competition in the telecom market.

• Its 100% digital brand 'Fizz' now offers services to more than 26 million Canadians across various provinces and recorded 60,000 net additions in Q1, largely driven by Freedom and Fizz.

• Despite high competition, Videotron has received several awards due to exceptional customer service.

• The company expressed dissatisfaction with the CRTC's recent arbitration decision on TELUS's wireless network access rate.

• They announced plans for continued investment in network improvement and customer experience, with a major reorganization plan underway for their media segment, Group TVA.

More details: QUEBECOR INC IR

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