The Canadian telecommunications leader, TELUS Corporation (TSX: T), has experienced impressive performance during the fourth quarter of 2023. During this period, the company achieved significant growth in its customer base and delivered strong financial results.
One highlight was the year-over-year increase of 34% in total net customer additions, reaching a record number of 404,000. This growth was largely driven by the expansion of fixed and mobile subscriber bases, as well as the increase in the number of connected devices.
Furthermore, TELUS recorded a 9.4% increase in operating revenues for the full year, along with a 7.6% increase in EBITDA, and generated approximately $1.8 billion in free cash flow. Both TELUS Health and TELUS International (TI) experienced solid revenue growth, thanks to TI’s artificial intelligence solutions.
Looking ahead to 2024, TELUS is optimistic about its Ttech and TI segments, forecasting increases in revenues and EBITDA, and expects consolidated free cash flow of approximately $2.3 billion.
In addition to its strong financial results, TELUS has increased the value of its brand to approximately $11.5 billion, making it the most valuable telecommunications brand in Canada.
TELUS is committed to excellence in customer service and retention, considering them key factors to drive the company’s growth. The company is also focused on fiber deployment and the expansion of private wireless networks.
While a slower pace of deleveraging is expected in 2024 due to spectrum auction payments, TELUS continues to explore growth opportunities in underpenetrated segments and regions. It is also considering strategic acquisitions and smart partnerships to drive its revenues.
In summary, TELUS Corporation has demonstrated strong customer growth and achieved outstanding financial results. With its focus on customer service excellence and leveraging opportunities in the Ttech and TI segments, the company is well-positioned to continue growing in the telecommunications market.