SEDAR Interim Financial Statements

[
  {
    "companyName": "Cogeco Inc.",
    "reportingPeriodEnd": "2025-11-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 65375,
      "tradeAndOtherReceivables": 169836,
      "incomeTaxReceivable": 6508,
      "prepaidExpensesAndOther": 62552,
      "derivativeFinancialInstrumentsCurrent": 5876,
      "totalCurrentAssets": 310147,
      "otherAssets": 179205,
      "propertyPlantAndEquipment": 3342482,
      "intangibleAssets": 3860845,
      "goodwill": 2199775,
      "derivativeFinancialInstrumentsNonCurrent": 8280,
      "deferredTaxAssets": 1884,
      "totalNonCurrentAssets": 9902618,
      "totalAssets": 9902618,
      "bankIndebtedness": 886,
      "tradeAndOtherPayables": 350172,
      "provisions": 31017,
      "incomeTaxLiabilities": 13180,
      "contractLiabilitiesAndOtherLiabilitiesCurrent": 57713,
      "derivativeFinancialInstrumentsLiabilitiesCurrent": 3796,
      "currentPortionOfLongTermDebt": 255675,
      "totalCurrentLiabilities": 712439,
      "longTermDebt": 4542874,
      "derivativeFinancialInstrumentsLiabilitiesNonCurrent": 12989,
      "contractLiabilitiesAndOtherLiabilitiesNonCurrent": 17076,
      "accruedEmployeeBenefits": 14150,
      "deferredTaxLiabilities": 926501,
      "totalNonCurrentLiabilities": 6226029,
      "totalLiabilities": 6938468,
      "shareCapital": 53319,
      "shareBasedPaymentReserve": 11117,
      "accumulatedOtherComprehensiveIncome": 52977,
      "retainedEarnings": 770534,
      "equityAttributableToOwners": 887947,
      "equityAttributableToNonControllingInterest": 2788642,
      "totalEquity": 3676589,
      "cashPerShare": 6.8796,
      "workingCapitalPerShare": -42.3355
    },
    "incomeStatement": {
      "revenue": 735641,
      "operatingExpenses": 373862,
      "acquisitionIntegrationRestructuringAndOtherCosts": 1961,
      "depreciationAndAmortization": 173405,
      "financialExpense": 63397,
      "profitBeforeIncomeTaxes": 123016,
      "incomeTaxes": 26880,
      "profitForThePeriod": 96136,
      "profitAttributableToOwners": 28212,
      "profitAttributableToNonControllingInterest": 67924,
      "earningsPerShareBasic": 2.97,
      "earningsPerShareDiluted": 2.92,
      "weightedAverageSharesOutstanding": 9502459
    },
    "cashFlowStatement": {
      "profitForThePeriod": 96136,
      "depreciationAndAmortization": 173405,
      "financialExpense": 63397,
      "incomeTaxes": 26880,
      "shareBasedPayment": 1832,
      "gainOnDisposalsAndWriteOffsOfPropertyPlantAndEquipment": -564,
      "definedBenefitPlansExpenseNetOfContributions": 215,
      "changesInOtherNonCashOperatingActivities": -98454,
      "interestPaid": -59317,
      "incomeTaxesPaid": -28898,
      "netCashFromOperatingActivities": 174632,
      "acquisitionOfPropertyPlantAndEquipment": -157368,
      "acquisitionOfSpectrumLicences": -2868,
      "subsidiesReceivedInAdvance": 188,
      "proceedsFromDisposalsOfPropertyPlantAndEquipment": 2775,
      "netCashUsedInInvestingActivities": -157273,
      "decreaseInBankIndebtedness": -2629,
      "netIncreaseUnderRevolvingFacilities": 49741,
      "issuanceOfLongTermDebtNet": 3588,
      "repaymentOfNotesAndCreditFacilities": -22134,
      "repaymentOfLeaseLiabilities": -4021,
      "acquisitionOfSubordinateVotingSharesHeldInTrust": -3711,
      "acquisitionByASubsidiaryFromNonControllingInterestOfShares": -10055,
      "dividendsPaidOnMultipleAndSubordinateVotingShares": -9327,
      "dividendsPaidOnSubordinateVotingSharesToNonControllingInterest": -29550,
      "netCashUsedInFinancingActivities": -28098,
      "effectOfExchangeRateChangesOnCash": 537,
      "netChangeInCashAndCashEquivalents": -10202,
      "cashAndCashEquivalentsBeginningOfPeriod": 75577,
      "cashAndCashEquivalentsEndOfPeriod": 65375
    },
    "investmentsAndOtherAssets": [],
    "shareStructure": {
      "authorizedShares": null,
      "issuedShares": 9642779,
      "classesOfShares": ["Multiple voting shares", "Subordinate voting shares"],
      "warrants": [],
      "options": [
        {
          "number": 1070753,
          "exercisePrice": 76.00,
          "expiryDate": null
        },
        {
          "number": 68684,
          "exercisePrice": 65.96,
          "expiryDate": null
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025-11-30": {
          "stockOptions": 246000,
          "stockAppreciationRights": 27000,
          "incentiveShareUnits": 561000,
          "performanceShareUnits": 1557000,
          "deferredShareUnits": 1108000
        },
        "2024-11-30": {
          "stockOptions": 285000,
          "stockAppreciationRights": 60000,
          "incentiveShareUnits": 467000,
          "performanceShareUnits": 582000,
          "deferredShareUnits": 2055000
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Cogeco Communications Inc.",
          "description": "Management fees for executive and administrative services",
          "amount": 6014000,
          "period": "2025-11-30"
        },
        {
          "counterparty": "Cogeco Communications Inc.",
          "description": "Recharge of share-based compensation for executive officers and board directors",
          "amount": 1002000,
          "period": "2025-11-30"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-12-05",
        "description": "Superior Court of Québec authorized a class action against Cogeco Connexion alleging breaches of Québec's Consumer Protection Act regarding rate increase notifications.",
        "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.",
        "impactValue": null
      }
    ]
  }
]