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    T   CA87971M1032

TELUS CORPORATION

(T)
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TELUS : Supplément d'information (Offert en anglais seulement PDF, XLSX

07/30/2021 | 07:19am EDT

TELUS Corporation

Second Quarter, 2021

Supplemental Investor Information

(UNAUDITED)

Financial information presented according to

International Financial Reporting Standards (IFRS)

as issued by the International Accounting Standards Board (IASB)

For further information, please contact:

Table of Contents

TELUS Investor Relations

TELUS Corporation

1-800-667-4871

- User notes

2

ir@telus.com

- Selected Consolidated Data

3

www.telus.com

- Segmented Data

4

- Segmented Data (Historical Trend)

5

Ian McMillan

TELUS technology solutions

(604) 695-4539

- Operations

6

ian.mcmillian@telus.com

- Operations (Historical Trend)

7

- Operating Statistics

8

Robert Mitchell

- Operating Statistics (Historical Trend)

9

(647) 837-1606

Digitally-led customer experiences - TELUS International

robert.mitchell2@telus.com

- Operations

10

- Operations (Historical Trend)

11

Non-GAAP measures and definitions

12-13

Supplemental Investor Information (Unaudited)

TELUS Corporation

Second Quarter, 2021

Page 1

User Notes

Effective January 1, 2021, TELUS Corporation's segment reporting structure was retrospectively re-cast to the beginning of 2020. This change came about due to:

  1. Continually increasing technological convergence pushing the difference between mobile and fixed access further from the core network and closer to the customer point of access. This has resulted in an increasing demand for allocation of non- direct expenditure (both capital and operating) between mobile and fixed access
  2. The increasing significance of digitally-led customer experience services, manifested as TELUS International (Cda) Inc.
  3. The evolution of information regularly reported to the TELUS chief operating decision maker for purposes of allocating resources and assessing performance

New reporting segments:

TELUS technology solutions (TTech)provides a wide range of telecommunications products and services. Mobile products and services include network revenue (data and voice) and equipment sales arising from mobile technologies. Fixed products and services include data revenues (which include revenues from internet protocol; television; hosting, managed information technology and cloud-based services; home and business smart technology (including security and agriculture); and certain healthcare solutions), voice revenues, and other telecommunications services and equipment revenues. We currently earn the majority of our revenue from access to, and usage of, our telecommunications infrastructure, and from providing services and products that facilitate access to, and usage of, our infrastructure.

In alignment with our segment reporting changes, operating KPIs were impacted by changes to intersegment eliminations and have been retroactively adjusted to the beginning of 2020 in this document.

Digitally-ledcustomer experiences - TELUS International (DLCX)provides customer experience and digital enablement transformation through its customer care and business services operations, as well as designs, builds and delivers next-generationdigital solutions to enhance the customer experience for global and disruptive brands across multiple high-growthindustry verticals. We earn revenues pursuant to contracts with our clients that generally take the form of a master services agreement, or other service contracts.

Notable items:

The following information is provided to assist users of this document understand the restated information provided and compare it to other publicly available information:

  1. Information presented on the DLCX segment was previously recorded in our legacy 'Wireline' segment. The remainder of the legacy 'Wireline' segment is consolidated with the results of our legacy 'Wireless' segment and recorded in the new TTech segment. DLCX intersegment revenue includes revenue that was previously eliminated within the legacy 'Wireline' segment.
  2. DLCX segment current and comparative information presented reflects the Q2 2020 sale of a line of business from TELUS Communications Inc. to TELUS International (Cda) Inc (TI). This aligns to Management's view of the DLCX segment, however comparative information prior to Q2 2020 has not been adjusted in the information presented in Note 28(d) of the 2020 Annual TELUS Corporation Financial Statements as that information aligns with TI legal entity reporting, which accounted for the transaction using predecessor accounting prospectively applied.
  3. In addition to the difference outlined in point b) above, there are additional definitional differences in other income, total operating revenue and adjusted EBITDA between the information presented in this document and the information contained within the TI consolidated financial statements as reported in their Form 20-F. These differences largely arise from TI adopting definitions consistent with practice in their industry.

Supplemental Investor Information (Unaudited)

TELUS Corporation

Second Quarter, 2021

Page 2

TELUS Corporation

Selected Consolidated Data

$ millions except shares, per share amounts, ratios and

Quarterly

June YTD

Annual

total customer connections

Q2/21

Q1/21

Q4/20

Q3/20

Q2/20

Q1/20

2021

2020

Net Income

344

333

271

321

315

353

677

1,260

Adjusted Net Income1(A)

348

359

289

356

316

400

707

1,361

Basic earnings per share ($)

0.25

0.25

0.20

0.24

0.23

0.28

0.50

0.95

Adjusted Basic earnings per share ($)(A)

0.26

0.27

0.22

0.28

0.25

0.32

0.53

1.06

Dividends declared per share ($)

0.3162

0.3112

0.3112

0.29125

0.29125

0.29125

0.6274

1.18495

Return on common equity2

9.4%

9.3%

10.1%

11.3%

12.7%

15.2%

9.4%

10.1%

EBITDA interest coverage ratio3

7.4

7.3

7.3

7.4

7.2

7.3

7.4

7.3

Free cash flow4

210

321

218

161

511

545

531

1,435

Net debt5

18,169

18,230

19,826

18,489

17,664

17,983

18,169

19,826

Net debt : EBITDA (times)6

3.11

3.15

3.45

3.21

3.06

3.13

3.11

3.45

Outstanding shares at end of period (M)

1,355

1,349

1,291

1,285

1,278

1,272

1,355

1,291

Basic weighted average shares outstanding (M)

1,355

1,298

1,291

1,284

1,278

1,248

1,327

1,275

Total customer connections (000s)(B)(C)

16,295

16,072

15,943

15,690

15,382

15,241

16,295

15,943

(A)Adjusted Net income and Adjusted EPS excludes the effects of restructuring and other costs, income tax-related adjustments, other equity losses related to real estate joint ventures, long-term debt prepayment premium and a gain on a retirement of a provision arising from business acquisition-related written put options within DCLX.

Total Fixed

(B)(C)

Total Mobile

Total Customer Connections (000s)

15,166

15,241

15,382

15,690

15,943

16,072

16,295

14,254

14,500

14,057

4,953

4,989

5,036

5,146

5,224

5,259

5,309

4,417

4,321

4,364

9,736

9,890

10,083

10,213

10,252

10,346

10,544

10,719

10,813

10,986

Q1-19

Q2-19

Q3-19

Q4-19

Q1-20

Q2-20

Q3-20

Q4-20

Q1-21

Q2-21

(B)Customer Connections may not balance due to rounding alignment to YTD figures. During the first quarter of 2019, we adjusted internet and total fixed cumulative subscriber connections to add approximately 16,000 subscribers from acquisitions undertaken during the quarter. Effective for the third quarter of 2019, with retrospective application to the launch of TELUS branded security services at the beginning of Q3 2018, we have added security subscriber connections to our total subscriber connections. December 31, 2019 security subscriber connections have been increased to include approximately 490,000 subscribers related to our acquisition of ADT Canada (acquired on November 5, 2019).

(C)During the third quarter of 2020, we adjusted cumulative subscriber connections to add approximately 31,000 security subscribers as a result of a business acquisition. Effective January 1, 2021, with retrospective application to January 1, 2020, in alignment with our segment reporting changes, we made a retroactive adjustment to remove internal network service revenue and approximately 29,000 subscribers from our mobile phone subscriber base. As well, effective January 1, 2021 on a prospective basis, following an in-depth review of customer accounts within a legacy subscriber provisioning system to be decommissioned, we adjusted our internet subscriber base to remove 16,000 subscribers.

Supplemental Investor Information (Unaudited)

TELUS Corporation

Second Quarter, 2021

Page 3

TELUS Corporation

Segmented Data

Quarter 2

June YTD

$ millions

2021

2020

Change

% Change

2021

2020

Change

% Change

Operating revenues and other income

TELUS technology solutions

3,566

3,224

342

10.6%

7,060

6,517

543

8.3%

Digitally-led customer experiences - TELUS International

658

612

46

7.5%

1,297

1,111

186

16.7%

Less: Intersegment revenue

(113)

(108)

(5)

(4.6%)

(222)

(206)

(16)

(7.8%)

Operating revenues and other income

4,111

3,728

383

10.3%

8,135

7,422

713

9.6%

EBITDA7

TELUS technology solutions

1,323

1,197

126

10.5%

2,659

2,498

161

6.4%

Digitally-led customer experiences - TELUS International

128

162

(34)

(20.8%)

253

270

(17)

(6.3%)

Consolidated

1,451

1,359

92

6.8%

2,912

2,768

144

5.2%

EBITDA margin

TELUS technology solutions

37.1%

37.1%

-

pts.

37.7%

38.3%

(0.6) pts.

Digitally-led customer experiences - TELUS International

19.6%

26.6%

(7.0) pts.

19.6%

24.4%

(4.8) pts.

Consolidated

35.3%

36.5%

(1.2) pts.

35.8%

37.3%

(1.5) pts.

Capital expenditures

TELUS technology solutions

882

727

155

21.3%

1,544

1,373

171

12.5%

Digitally-led customer experiences - TELUS International

31

29

2

6.9%

54

48

6

12.5%

Consolidated

913

756

157

20.8%

1,598

1,421

177

12.5%

Capital expenditure intensity8

TELUS technology solutions

25%

23%

2

pts.

22%

21%

1

pts.

Digitally-led customer experiences - TELUS International

5%

5%

-

pts.

4%

4%

-

pts.

Consolidated

22%

20%

2

pts.

20%

19%

1

pts.

EBITDA less capex

TELUS technology solutions

441

470

(29)

(6.2%)

1,115

1,125

(10)

(0.9%)

Digitally-led customer experiences - TELUS International

97

133

(36)

(27.1%)

199

222

(23)

(10.4%)

Consolidated

538

603

(65)

(10.8%)

1,314

1,347

(33)

(2.4%)

Adjusted EBITDA9(A)

TELUS technology solutions

1,353

1,260

93

7.3%

2,718

2,602

116

4.4%

Digitally-led customer experiences - TELUS International

137

101

36

36.5%

275

234

41

17.4%

Consolidated

1,490

1,361

129

9.5%

2,993

2,836

157

5.5%

Adjusted EBITDA margin(B)

TELUS technology solutions

37.9%

39.1%

(1.2)

pts.

38.5%

39.9%

(1.4)

pts.

Digitally-led customer experiences - TELUS International

20.9%

18.6%

2.3

pts.

21.2%

22.6%

(1.4)

pts.

Consolidated

36.2%

37.2%

(1.0)

pts.

36.8%

38.6%

(1.8)

pts.

(A)Adjusted EBITDA excludes restructuring and other costs, other equity losses related to real estate joint ventures, as well as retirement of a provision arising from business acquisition-related written put options within DLCX (see Historical Trend pages for TTech and DLCX).

B)Adjusted EBITDA margin is Adjusted EBITDA divided by Operating revenues and other income, where the calculation of Operating revenues and other income excludes other equity losses related to real estate joint ventures and retirement of a provision arising from business acquisition-related written put options within DLCX

DLCX TTech

Segmented EBITDA ($ millions)

1,409

1,359

1,390

1,461

1,451

1,336

125

128

108

132

162

116

1,301

1,197

1,258

1,220

1,336

1,323

Q1-20

Q2-20

Q3-20

Q4-20

Q1-21

Q2-21

Supplemental Investor Information (Unaudited)

TELUS Corporation

Second Quarter, 2021

Page 4

TELUS Corporation

Segmented Data - Historical Trend

Quarterly

June YTD

Annual

$ millions

Q2/21

Q1/21

Q4/20

Q3/20

Q2/20

Q1/20

2021

2020

Operating revenues and other income

TELUS technology solutions

3,566

3,494

3,595

3,524

3,224

3,293

7,060

13,636

Digitally-led customer experiences - TELUS International

658

639

577

568

612

499

1,297

2,256

Less: Intersegment revenue

(113)

(109)

(112)

(111)

(108)

(98)

(222)

(429)

Operating revenues and other income

4,111

4,024

4,060

3,981

3,728

3,694

8,135

15,463

Revenues % change on prior year

TELUS technology solutions

10.6%

6.1%

1.3%

3.4%

(2.7%)

1.6%

8.3%

0.9%

Digitally-led customer experiences - TELUS International

7.5%

28.1%

41.1%

48.3%

66.3%

46.3%

16.7%

50.3%

Operating revenues and other income

10.3%

8.9%

5.2%

7.7%

3.6%

5.4%

9.6%

5.5%

EBITDA7

TELUS technology solutions

1,323

1,336

1,220

1,258

1,197

1,301

2,659

4,976

Digitally-led customer experiences - TELUS International

128

125

116

132

162

108

253

518

Consolidated

1,451

1,461

1,336

1,390

1,359

1,409

2,912

5,494

EBITDA % change on prior year

TELUS technology solutions

10.5%

2.7%

(3.8%)

(6.6%)

(7.5%)

(0.6%)

6.4%

(4.6%)

Digitally-led customer experiences - TELUS International

(20.8%)

15.4%

17.5%

51.3%

104.7%

53.3%

(6.3%)

54.4%

Consolidated

6.8%

3.7%

(2.3%)

(3.1%)

(1.0%)

2.2%

5.2%

(1.1%)

EBITDA margin

TELUS technology solutions

37.1%

38.3%

34.0%

35.7%

37.1%

39.5%

37.7%

36.5%

Digitally-led customer experiences - TELUS International

19.6%

19.5%

20.1%

23.1%

26.6%

21.7%

19.6%

22.9%

Consolidated

35.3%

36.3%

32.9%

34.9%

36.5%

38.1%

35.8%

35.5%

Capital expenditures

TELUS technology solutions

882

662

588

714

727

646

1,544

2,675

Digitally-led customer experiences - TELUS International

31

23

25

27

29

19

54

100

Consolidated

913

685

613

741

756

665

1,598

2,775

Capital expenditure intensity8

TELUS technology solutions

25%

19%

16%

20%

23%

20%

22%

20%

Digitally-led customer experiences - TELUS International

5%

4%

4%

5%

5%

4%

4%

4%

Consolidated

22%

17%

15%

19%

20%

18%

20%

18%

EBITDA less capex

TELUS technology solutions

441

674

632

544

470

655

1,115

2,301

Digitally-led customer experiences - TELUS International

97

102

91

105

133

89

199

418

Consolidated

538

776

723

649

603

744

1,314

2,719

Adjusted EBITDA9(A)

TELUS technology solutions

1,353

1,365

1,261

1,314

1,260

1,342

2,718

5,177

Digitally-led customer experiences - TELUS International

137

138

148

142

101

133

275

524

Consolidated

1,490

1,503

1,409

1,456

1,361

1,475

2,993

5,701

Adjusted EBITDA (A) % change on prior year

TELUS technology solutions

7.3%

1.8%

(3.8%)

(4.3%)

(4.6%)

(0.2%)

4.4%

(3.2%)

Digitally-led customer experiences - TELUS International

36.5%

3.0%

46.9%

55.4%

26.5%

87.4%

17.4%

52.8%

Consolidated

9.5%

1.9%

(0.2%)

(0.6%)

(2.9%)

4.2%

5.5%

0.2%

Adjusted EBITDA margin(B)

TELUS technology solutions

37.9%

39.1%

35.1%

37.2%

39.1%

40.7%

38.5%

37.9%

Digitally-led customer experiences - TELUS International

20.9%

21.6%

25.8%

24.8%

18.6%

26.8%

21.2%

24.0%

Consolidated

36.2%

37.4%

34.7%

36.5%

37.2%

39.9%

36.8%

37.0%

(A)Adjusted EBITDA excludes restructuring and other costs, other equity losses related to real estate joint ventures, as well as retirement of a provision arising from business acquisition- related written put options within DLCX (see Historical Trend pages for TTech and DLCX).

(B)Adjusted EBITDA margin is Adjusted EBITDA divided by Operating revenues and other income, where the calculation of Operating revenues and other income excludes other equity losses related to real estate joint ventures and retirement of a provision arising from business acquisition-related written put options within DLCX.

Segmented external revenue profile - Q2 2021

Segmented EBITDA profile - Q2 2021

(% of total operating revenues)

TTech

86.6%

TTech

91.2%

DLCX

DLCX

13.4%

8.8%

Supplemental Investor Information (Unaudited)

TELUS Corporation

Second Quarter, 2021

Page 5

Pour lire la suite de ce noodl, vous pouvez consulter la version originale ici.

Disclaimer

TELUS Corporation published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 11:18:04 UTC.


© Publicnow 2021
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TELUS Corporation Technical Analysis Chart | T | CA87971M1032 | MarketScreener
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