SEDAR Interim Financial Statements

[
  {
    "companyName": "Cogeco Communications Inc.",
    "reportingPeriodEnd": "2025-11-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 65129,
      "tradeAndOtherReceivables": 143520,
      "incomeTaxReceivable": 3808,
      "prepaidExpensesAndOther": 59909,
      "derivativeFinancialInstrumentsCurrent": 5876,
      "totalCurrentAssets": 278242,
      "otherAssetsNonCurrent": 164020,
      "propertyPlantAndEquipment": 3311142,
      "intangibleAssets": 3835266,
      "goodwill": 2199775,
      "derivativeFinancialInstrumentsNonCurrent": 8280,
      "deferredTaxAssets": 1303,
      "totalNonCurrentAssets": 9798028,
      "totalAssets": 9798028,
      "bankIndebtedness": 0,
      "tradeAndOtherPayables": 334223,
      "provisions": 30096,
      "incomeTaxLiabilities": 12626,
      "contractLiabilitiesAndOtherLiabilitiesCurrent": 57277,
      "derivativeFinancialInstrumentsLiabilitiesCurrent": 2478,
      "currentPortionOfLongTermDebt": 253715,
      "totalCurrentLiabilities": 690415,
      "longTermDebt": 4383980,
      "derivativeFinancialInstrumentsLiabilitiesNonCurrent": 12989,
      "contractLiabilitiesAndOtherLiabilitiesNonCurrent": 17057,
      "accruedEmployeeBenefits": 9376,
      "deferredTaxLiabilities": 921440,
      "totalNonCurrentLiabilities": 6035257,
      "totalLiabilities": 6725672,
      "shareCapital": 837990,
      "shareBasedPaymentReserve": 19800,
      "accumulatedOtherComprehensiveIncome": 152118,
      "retainedEarnings": 2216237,
      "equityAttributableToOwnersOfTheCorporation": 3226145,
      "equityAttributableToNonControllingInterest": 536626,
      "totalEquity": 3762771,
      "totalLiabilitiesAndEquity": 9798028,
      "cashPerShare": 1.5473,
      "workingCapitalPerShare": -9.7893
    },
    "incomeStatement": {
      "2025": {
        "revenue": 707247,
        "operatingExpenses": 347410,
        "managementFeesCogecoInc": 6014,
        "acquisitionIntegrationRestructuringAndOtherCostsGains": 1298,
        "depreciationAndAmortization": 172079,
        "financialExpense": 61643,
        "profitBeforeIncomeTaxes": 118803,
        "incomeTaxes": 25708,
        "profitForThePeriod": 93095,
        "profitAttributableToOwners": 88676,
        "profitAttributableToNonControllingInterest": 4419,
        "earningsPerShareBasic": 2.11,
        "earningsPerShareDiluted": 2.09,
        "weightedAverageSharesOutstandingBasic": 42105043
      },
      "2024": {
        "revenue": 738695,
        "operatingExpenses": 368558,
        "managementFeesCogecoInc": 4922,
        "acquisitionIntegrationRestructuringAndOtherCostsGains": -9958,
        "depreciationAndAmortization": 175899,
        "financialExpense": 65489,
        "profitBeforeIncomeTaxes": 133785,
        "incomeTaxes": 26625,
        "profitForThePeriod": 107160,
        "profitAttributableToOwners": 100588,
        "profitAttributableToNonControllingInterest": 6572,
        "earningsPerShareBasic": 2.39,
        "earningsPerShareDiluted": 2.38,
        "weightedAverageSharesOutstandingBasic": 42047859
      }
    },
    "cashFlowStatement": {
      "2025": {
        "profitForThePeriod": 93095,
        "adjustmentsForDepreciationAndAmortization": 172079,
        "adjustmentsForFinancialExpense": 61643,
        "adjustmentsForIncomeTaxes": 25708,
        "adjustmentsForShareBasedPayment": 1496,
        "adjustmentsForLossGainOnDisposalsAndWriteOffsOfPropertyPlantAndEquipment": 726,
        "adjustmentsForDefinedBenefitPlansExpenseNetOfContributions": 116,
        "changesInOtherNonCashOperatingActivities": -92442,
        "interestPaid": -57554,
        "incomeTaxesPaid": -28544,
        "netCashFromOperatingActivities": 176323,
        "acquisitionOfPropertyPlantAndEquipment": -157151,
        "acquisitionOfSpectrumLicences": -2868,
        "subsidiesReceivedInAdvance": 188,
        "proceedsFromDisposalsOfPropertyPlantAndEquipment": 1212,
        "netCashUsedInInvestingActivities": -158619,
        "decreaseInBankIndebtedness": -1379,
        "netIncreaseUnderRevolvingFacilities": 45985,
        "issuanceOfLongTermDebtNetOfDiscountsAndTransactionCosts": 3588,
        "repaymentOfNotesAndCreditFacilities": -21434,
        "repaymentOfLeaseLiabilities": -3574,
        "issuanceOfSubordinateVotingShares": 0,
        "acquisitionOfSubordinateVotingSharesHeldInTrust": -10055,
        "dividendsPaid": -41395,
        "netCashUsedInFinancingActivities": -28264,
        "effectOfExchangeRateChangesOnCash": 537,
        "netChangeInCashAndCashEquivalents": -10023,
        "cashAndCashEquivalentsBeginningOfPeriod": 75152,
        "cashAndCashEquivalentsEndOfPeriod": 65129
      },
      "2024": {
        "profitForThePeriod": 107160,
        "adjustmentsForDepreciationAndAmortization": 175899,
        "adjustmentsForFinancialExpense": 65489,
        "adjustmentsForIncomeTaxes": 26625,
        "adjustmentsForShareBasedPayment": 2223,
        "adjustmentsForLossGainOnDisposalsAndWriteOffsOfPropertyPlantAndEquipment": -16448,
        "adjustmentsForDefinedBenefitPlansExpenseNetOfContributions": 201,
        "changesInOtherNonCashOperatingActivities": -74174,
        "interestPaid": -61471,
        "incomeTaxesPaid": -6639,
        "netCashFromOperatingActivities": 218865,
        "acquisitionOfPropertyPlantAndEquipment": -153243,
        "acquisitionOfSpectrumLicences": -3522,
        "subsidiesReceivedInAdvance": 187,
        "proceedsFromDisposalsOfPropertyPlantAndEquipment": 19613,
        "netCashUsedInInvestingActivities": -136965,
        "decreaseInBankIndebtedness": -8470,
        "netIncreaseUnderRevolvingFacilities": 18821,
        "issuanceOfLongTermDebtNetOfDiscountsAndTransactionCosts": 0,
        "repaymentOfNotesAndCreditFacilities": -41258,
        "repaymentOfLeaseLiabilities": -2606,
        "issuanceOfSubordinateVotingShares": 2911,
        "acquisitionOfSubordinateVotingSharesHeldInTrust": 0,
        "dividendsPaid": -38673,
        "netCashUsedInFinancingActivities": -69275,
        "effectOfExchangeRateChangesOnCash": 2609,
        "netChangeInCashAndCashEquivalents": 15234,
        "cashAndCashEquivalentsBeginningOfPeriod": 76335,
        "cashAndCashEquivalentsEndOfPeriod": 91569
      }
    },
    "investmentsAndOtherAssets": [],
    "shareStructure": {
      "authorizedShares": null,
      "issuedShares": 41987481,
      "classesOfShares": ["Multiple voting shares", "Subordinate voting shares"],
      "warrants": [],
      "options": [],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025": {
          "managementFees": 6014,
          "shareBasedCompensationChargedBack": 1002
        },
        "2024": {
          "managementFees": 4922,
          "shareBasedCompensationChargedBack": 529
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": []
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-12-05",
        "description": "Superior Court of Québec authorized a class action against Cogeco Connexion.",
        "impactValue": null
      },
      {
        "eventDate": "2026-01-14",
        "description": "Board of Directors declared a quarterly dividend of $0.987 per share for multiple and subordinate voting shares, payable on February 11, 2026 to shareholders of record on January 28, 2026.",
        "impactValue": null
      }
    ]
  }
]