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Who we are
BCE is Canada's largest communications company, providing the most comprehensive and innovative suite of communication services to residential and business customers in Canada.
Operating under the Bell and Bell Aliant brands, the Company's services include Bell Home phone local and long distance services, Bell Mobility, Virgin Mobile and Solo Mobile wireless, high-speed Bell Internet, Bell TV direct-to-home satellite and VDSL television, IP-broadband services and information and communications technology (ICT) services. BCE shares are listed in Canada and the United States.
Our operations are organized into three segments: Bell Wireline, Bell Wireless, and Bell Aliant.
Financial and operational highlights
BCE subscribers (in thousands)
| |
2009 |
2008 |
2007 |
| Wireless |
6,954 |
6,611 |
6,311 |
| High-Speed Internet |
2,867 |
2,811 |
2,693 |
| TV |
1,982 |
1,874 |
1,833 |
| Local telephone |
9,788 |
10,391 |
10,936 |
BCE operations
| |
2009 |
2008 |
2007 |
| Revenue (in millions) |
$17,735 |
$17,661 |
$17,707 |
| EBITDA(1) (in millions) |
$7,089 |
$7,004 |
$6,991 |
| Operating income (in millions) |
$3,191 |
$2,869 |
$3,479 |
| Net earnings applicable to common shares (in millions) |
$1,631 |
$819 |
$3,926 |
| Adjusted net earnings(1)(2) (in millions) |
$1,929 |
$1,811 |
$1,884 |
| Net earnings per common share |
$2.11 |
$1.02 |
$4.88 |
| Adjusted net earnings per common share(1)(2) |
$2.50 |
$2.25 |
$2.34 |
| Dividends declared per common share |
$1.58 |
$0.73 |
$1.46 |
| Common dividend payout ratio |
65% |
32% |
61% |
| Free cash flow(1) (in millions) |
|
|
|
| - before special pension funding |
1,956 |
1,689 |
1,960 |
| - after special pension funding |
1,456 |
1,689 |
1,960 |
| Cash from operating activities (in millions) |
$4,884 |
$5,909 |
$5,730 |
| Capital expenditures (in millions) |
$2,854 |
$2,986 |
$3,140 |
| Capital Intensity |
16.1% |
16.9% |
17.7% |
BCE Financial Position
| |
2009 |
2008 |
2007 |
| Total assets (in millions) |
$38,050 |
$39,663 |
$38,230 |
| Common shareholders' equity (in millions) |
$14,204 |
$14,541 |
$14,462 |
| Preferred shares (in millions) |
$2,770 |
$2,770 |
$2,770 |
| Total debt to total assets (times) |
0.29 |
0.31 |
0.30 |
| Long-term debt to total shareholders' equity (times) |
0.64 |
0.70 |
0.65 |
| Market capitalization (in millions) |
$22,249 |
$20,182 |
$31,930 |
| Price to earnings ratio |
13.74 |
24.64 |
8.13 |
(1) The terms EBITDA, Adjusted net earnings and free cash flow are non-GAAP financial measures. Refer to the section entitled Non-GAAP Financial Measures in the Management's Discussion and Analysis contained in the annual report for more details concerning such non-GAAP financial measures, including a reconciliation to the most comparable Canadian GAAP financial measures.
(2) Before restructuring and other and net (gains) losses on investments.
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