Skip to main content | Go to site map | Read our accessibility commitment

Financial reporting

The information included on this page represents our financial guidance targets for 2019, which have been prepared in accordance with IFRS 16 accounting standards.

Please read our caution concerning forward-looking statements when using this information.

BCE's 2019 financial guidance


February 7August 1
Revenue growth 1% to 3% On track
Adjusted EBITDA growth 5% to 7% On track
Capital intensity Approx. 16.5% On track
Adjusted EPS (1) $3.48 to $3.58 On track
Free cash flow (2) $3,800M to $4,000M On track

(1) Net earnings attributable to common shareholders before severance, acquisition and other costs, net mark-to-market (gains) losses on equity derivatives, net (gains) losses on investments, impairment charges and early debt redemption costs per BCE common share.

(2) Cash flows from operating activities, excluding acquisition and other costs paid (which include significant litigation costs) and voluntary pension funding, less capital expenditures, preferred share dividends and dividends paid by subsidiaries to non-controlling interest.

For additional details and explanations, please see BCE’s news release dated August 1, 2019.

­ ­