This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled “Caution Concerning Forward-Looking Statements” later in this release.

 

BCE reports third quarter 2019 results

• Record Q3 wireless net additions of 204,067, up 14.8%, combined with ABPU growth of approximately 1% and a reduction in postpaid churn to 1.12%, delivered stronger wireless revenue growth of 3.5% and 7.9% higher adjusted EBITDA
• 293,950 total wireless, retail Internet and IPTV net customer additions, up 4%
• 89,883 total retail Internet and IPTV net additions; 50 basis-point improvement in Bell’s leading wireline margin to 2%
• Continued strong Bell Media financial performance with revenue up 7% and 24.2% increase in adjusted EBITDA
• BCE adjusted EBITDA up 5.6% on strong year-over-year growth at all Bell operating segments, driven by 8% higher revenue and IFRS 16 impact
• Net earnings grew 3% to $922 million; net earnings attributable to common shareholders increased 6.5% to $867 million, or $0.96 per common share, up 6.7%; adjusted net earnings of $820 million generated adjusted EPS of $0.91, down 5.2%

Cash flows from operating activities increased 10.5% to $2,258 million; free cash flow up 17.3% to $1,189 million

Read the report here…

 

October 30, 2019

TORONTO—Following months of difficult negotiations, Unifor finally secured Closure Agreements with Inteva Products, Lear Corporation Whitby, Auto Warehousing Canada (AWC), and Robinson Solutions.

“Unifor has repeatedly insisted that auto parts and service provider workers made significant contributions to the success of their employers and to General Motors. They deserved more than legislative minimum severance, and Unifor was successful in negotiating enhanced packages for our members,” said Jerry Dias, Unifor National President. “We allocated resources, developed a coordinated bargaining plan, and we had the strong commitment of our leadership and membership. That is why we were successful in getting fair Agreements for our members.”

The Agreements were the last of 11 negotiated by Unifor at companies that will be significantly impacted by the discontinuation of vehicle assembly at GM Oshawa. The 11 Agreements cover more than 1,200 Unifor represented workers in the independent auto parts sector (IPS).

In November 2018, General Motors announced that Oshawa Assembly Plant would not allocate vehicle assembly past December 2019. Unifor warned the public and all levels of government that the closure of the General Motors assembly line in Oshawa would have substantial consequences for IPS workers in feeder plants and related service provider companies across the region.

Following the union’s negotiations with GM for enhanced severance packages for Oshawa workers, the union engaged in bargaining for more than six months to secure fair closure and restructuring Agreements for its IPS members. Throughout the negotiations, Unifor maintained a firm position that legislated minimum was unacceptable.

“In the end, we successfully negotiated double the Employment Standards Act (ESA) minimum severance from the IPS employers,” said Colin James, Unifor Local 222 President. “Without the extraordinary dedication and resiliency of IPS workers, reaching these deals would not have been possible. But to be clear, enhanced severance doesn’t replace a good paying job. And knowing this, we will never give up on our efforts to advocate for bringing vehicle assembly back to Oshawa.”

With the continued threat of jobs in Ontario moving south and overseas, Unifor continues to press political leaders at all levels of government for a much-needed National Automotive Strategy that protects workers in the automotive and parts supplier industries.