Who we are
This Strategic Overview contains forward-looking statements including, without limitation, statements relating to BCE’s dividend growth objective and 2023 annualized common share dividend and dividend payout ratio level, BCE’s anticipated capital expenditures, network deployment plans and the benefits expected to result therefrom, our environmental, social and governance (ESG) objectives and the benefits expected to result therefrom (which include, without limitation, our objectives concerning diversity, equity, inclusion and belonging (DEIB), customer experience, energy savings, reductions in waste sent to landfill, e-waste recovery, community investment, privacy and information security, corporate governance and ethical business conduct leadership, reductions in the level of our greenhouse gas (GHG) emissions including, without limitation, our plans to be carbon neutral for our operational GHG emissions starting in 2025 and to achieve science-based targets (SBTs) by 2026 or 2030, as applicable, and our carbon abatement objectives), BCE’s business outlook, objectives, plans and strategic priorities, and other statements that do not refer to historical facts. A statement we make is forward-looking when it uses what we know and expect today to make a statement about the future. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, project, strategy, target and other similar expressions or future or conditional verbs such as aim, anticipate, believe, could, expect, intend, may, plan, seek, should, strive and will. All such forward-looking statements are made pursuant to the safe harbour provisions of applicable Canadian securities laws and of the United States (U.S.) Private Securities Litigation Reform Act of 1995.
Unless otherwise indicated by us, forward-looking statements in this Strategic Overview describe our expectations as at March 2, 2023 and, accordingly, are subject to change after that date. Except as may be required by applicable securities laws, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in, or implied by, such forward-looking statements and that our business outlook, objectives, plans and strategic priorities may not be achieved. These statements are not guarantees of future performance or events, and we caution against relying on any of these forward-looking statements. Forward-looking statements are presented in this Strategic Overview for the purpose of assisting readers in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned, however, that such information may not be appropriate for other purposes.
We have made certain economic, market, operational and other assumptions in preparing the forward-looking statements contained in this Strategic Overview, which include, without limitation, the assumptions described in the various subsections of BCE’s 2022 annual Management’s discussion and analysis (BCE 2022 Annual MD&A) entitled Assumptions, which subsections are incorporated by reference in this cautionary statement. Subject to various factors, we believe that our assumptions were reasonable at March 2, 2023. If our assumptions turn out to be inaccurate, actual results or events could be materially different from what we expect.
Important risk factors that could cause actual results or events to differ materially from those expressed in, or implied by, the previously-mentioned forward-looking statements and other forward-looking statements contained in this Strategic Overview include, but are not limited to, the risks described in section 9, Business risks of the BCE 2022 Annual MD&A, which section is incorporated by reference in this cautionary statement.
Forward-looking statements contained in this Strategic Overview for periods beyond 2023 involve longer-term assumptions and estimates than forward-looking statements for 2023 and are consequently subject to greater uncertainty. They assume, unless otherwise indicated, that the relevant assumptions and risks described in the BCE 2022 Annual MD&A will remain substantially unchanged during such periods, except for an assumed improvement in the risks related to the COVID-19 pandemic in future years.
We caution readers that the risk factors described in the previously-mentioned section and in other sections of the BCE 2022 Annual MD&A are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on our business, financial condition, liquidity, financial results or reputation. We regularly consider potential acquisitions, dispositions, mergers, business combinations, investments, monetizations, joint ventures and other transactions, some of which may be significant. Except as otherwise indicated by us, forward-looking statements do not reflect the potential impact of any such transactions or of special items that may be announced or that may occur after March 2, 2023. The financial impact of these transactions and special items can be complex and depends on facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way, or in the same way we present known risks affecting our business.
Using principles of the Integrated Reporting Framework, we have identified a holistic view of our value creation process. This view highlights the value we create for our stakeholders as the result of our business operations, guided by our strategic imperatives, and use of capitals. Our activities and initiatives relating to each capital are reported on the following pages.
BCE’s purpose is to advance how Canadians connect with each other and the world.
Through Bell for Better, we demonstrate our commitment to create a better world, better communities and a better workplace.
Every day, we are dedicated to advance our purpose and accelerate BCE’s transformation from a traditional telco to a tech services and media leader by executing on our six strategic imperatives:
We operate in an evolving environment influenced by trends and presenting business risks which we strive to manage under a strong governance model.
|VALUE WE CREATE
|HOW WE MEASURE VALUE
Reliable, accessible and affordable world-class broadband fibre and wireless networks.
Powering Canada’s prosperity
Connecting Canadians with world-leading technology to support Canada’s growth agenda, productivity and leadership in innovation.
Connected customers through strong trusted networks
Strong relationships with customers, communities and suppliers.
Enabling better experiences
Smart solutions and partnerships that champion customer experience and support community resiliency and growth.
Innovative and compelling products, services and media content addressing societal demands
Enhancing opportunities for Canadians
Providing the capabilities and tools for consumers and businesses to thrive and prosper.
Responsible environmental management throughout our operation
Contributions to environmental sustainability
Minimizing environmental impacts in our operations through ambitious actions toward mitigation and prevention.
Skilled, engaged and diverse team members.
An inclusive and engaged workforce
A workplace where team members know they can have an impact, immerse themselves in opportunities and feel like they belong.
Thriving team members
Capital from our investors, returns on our investments and free cash flow generated from our operations.
Ongoing investment in our purpose and positive returns to our investors.
Investor returns and strong capital structure
Our value creation model incorporates the sustainable development goals (SDGs) from the United Nations (icons seen above under the value we create). To learn more about how we address SDGs, read the Bell’s ESG priorities section in Our corporate responsibility approach information sheet.