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York University (35,236)
ADMS 3585 (26)
Lecture

Rogers 2012_Annual-Report.pdf

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Department
Administrative Studies
Course
ADMS 3585
Professor
Lykke Dela Cour
Semester
Summer

Description
Creating WorldLeading Creating WorldLeading Internet ExperiencesInternet ExperiencesRogeRs CommuniCations inC2012 AnnuAl RepoRtWIRELESSCABLEMEDIAAAWWEESESECOLICOLIWAWAAT A GLANCEFEFESTSTNNNETWORKNETWORKAMINAMINSHARESHARENLNLCCNNNNIISTSTSURFSURFDOWNLOADDOWNLOADTCTCONNONNECECYLYLCURECURERELIABLERELIABLEOUR BUSINESS CCTTOAOAEEINSPINSPSTREAMINGSTREAMINGACCESSACCESSHHACACAMAMUPUPRogers Communications Inc is a diversified Canadian communications and media company engaged COCOMMLILIin the telecom and media businesses Rogers Wireless is Canadas largest wireless voice and data communications services provider and the countrys only national carrier operating on the combined LOLOGGRFRFINSPIREINSPIREFEFEDDSSSSNNNNworld standard GSMHSPALTE technology platforms Rogers Cable is a leading Canadian cable services KINGKINGADADprovider offering cable television highspeed Internet access and telephony products and together with STRESTRETATASUSUACRELIACRELIXTXTRogers Business Solutions provides business telecom data networking and IP solutions to small STSTFREEDOFREEDOSUSUECECCECEmedium and large enterprise government and carrier customers Rogers Media is Canadas premier RELIABLERELIABLETHTHSESESTRESTREgroup of categoryleading broadcast specialty print and online media assets with businesses in radio SECURESECURECECEUPLOADUPLOADYLYLABABCONNECTCONNECTEAEAand television broadcasting televised shopping sports entertainment magazine and trade journal TTACCESSACCESSRFRFCONNECTCONNECTINSPIRREINSPIRREpublishing and digital media We are publicly traded on both the TSX and NYSE stock exchanges and are ACBRACBRSSSSCURECURENENELELELIVELIVEincluded in the SPTSX 60 Index of the largest publicly traded companies in CanadaINSPIRINSPIREEEELIABLELIABLEAMINAMINTUNESTUNESRELIABLERELIABLEPOSTPOSTUPUPDELIVERING COMMITMENTS IN 2012INSPIREINSPIRELOLOINSPIREINSPIRELIFESTYLELIFESTYLEADADXTXTDIVIDENDShARETOPLINEFREE CASh FLOW OWNLOADOWNLOADINCREASESBuyBACkSGROWThGENERATIONVEVEEEGGRELIABLERELIABLECURECUREWhAT WE SAid IncreaseWhAT WE SAid Return WhAT WE SAid LeverageWhAT WE SAid Deliver another cash returns to shareholders additional cash to shareholders networks channels and brandsyear of significant consolidated INSPIREINSPIRENETWORKTUNESNETWORKTUNESLILIINSPINSPTUNETUNEconsistently over timeby repurchasing Rogers shares to deliver continued revenue pretax free cash flow on the open marketgrowth WhAT WE did IncreasedWhAT WE did GeneratedCONNECTREEDOMCONNECTREEDOMSECURESECURERELIABLERELIABLENENESESEWhAT WE did RepurchasedWhAT WE did Delivered 1annualized dividend per20 billion of pretax free cash LILI96 million Rogers Class B sharesconsolidated topline growthshare 11 from 142 toflow in 2012 supporting the for 350 millionwith 2 growth in adjusted158 in 2012significant cash we returned to CONNECTCONNECTACCESSINSPIREACCESSINSPIRESURFSURFoperating profitshareholders during the yearVEVESECURESECUREINSPIREINSPIRESECURESECUREIRIRCONNECCONNECPOSTPOSTCONNECTCONNECTFAST AND RELIABLEWIRELESS DATAhIGhER VALuEOPERATING EFFICIENCIESSSEENETWORkSREVENuE GROWThWIRELESS SuBSCRIBERSFASTFASTINSPIREINSPIRETUNESTUNESINSPIREINSPIRELILIWhAT WE SAid Maintain WhAT WE SAid Generate WhAT WE SAid Continue the WhAT WE SAid Implement cost LISELISECCRogers leadership in network doubledigit wireless data rapid growth in our smartphone containment initiatives to capture GGSECURESECUREtechnology and innovationgrowth to support continued subscriber base to drive wireless operating efficienciesFEFECURECUREONNONNARPu leadershipdata revenue and ARPu FEFEINSPIREINSPIREWhAT WE did Deployed WhAT WE did Reduced operating ININSECURESECUREWhAT WE did Grew wireless WhAT WE did Activated nearlyCanadas first 4G LTE wireless expenses for the combined Wireless CONNECTCONNECTSTSTdata revenue by 17 with data 29 million smartphones helpingnetwork and completed the and Cable segments excludingas a percent of network revenue bring smartphone penetration deployment of 150Mbps the cost of wireless equipment STSTINSPIREINSPIREincreasing to 41 from 35to 69 of postpaid subscriber Internet speeds across 90sales by approximately 1AKAKBREATHTAKINGBREATHTAKINGYLYLRELIABLERELIABLEin 2011baseof our cable TV footprintfrom 2011 levelsXTXTLIFESTYLELIFESTYLEDOWNLOADDOWNLOADECECYLYLEETHTTHTUPLOADUPLOADSECURESECURECONNECTCONNECTPOSTPOSTEAEARELIABLERELIABLEEETTSECURESECUREINSPIREINSPIREBRBRTable of ContentsNENETUNTUNEELIFESTYLELIFESTYLEONNECTONNECT 2 Letter to Shareholders 22 Managements Discussion and Analysis 84Consolidated Statements ofRELIABLERELIABLEFinancial Position 5 Strategic Objectives and Value Drivers 81Managements Responsibility forSTREAMINGSTREAMINGFinancial Reporting 85Consolidated Statements ofINSPIRINSPIRTUNESTUNESINSPIREINSPIRENETWORKNETWORKLILICC 6 Creating WorldLeadingChanges in Shareholders EquityInternet Experiences 81Independent Auditors Report ofTTONNONNLIFESTYLIFESTYRegistered Public Accounting Firm 86 Consolidated Statements of Cash FlowsFEFEBREATHTAKINGBREATHTAKINGSHARESHARE 14 Corporate Social Responsibility 82 Consolidated Statements of Income 87Notes to Consolidated Financial16 Corporate GovernanceCONNCONNECECStatementsSURFSURFSTST 83Consolidated Statements of 18 Directors and Senior Executive OfficersComprehensive Income 116 Corporate and Shareholder InformationDOWNLOADDOWNLOADECEC 20 Why Invest in RogersYLYLSECUSECU CURECURERELIABLERELIABLE EEONNONNEETTCONNCONNSTREAMINGSTREAMINGACCESSACCESSSESECCAAAWWWEEESESESECOLICOLIWAWACOLIWAAT A GLANCEFEFEFESTSTSTNNNNETWORKNETWORKAMINAMINNETWORKSHARESHAREAMINSHARENLNLNLCCCNNNNIINNISTSTSTSURFSURFSURFDOWNLOADDOWNLOADTCTCDOWNLOADTCONNONNECECONNECYLYLYLCURECURECURERELIABLERELIABLERELIABLECCCTTTOAOAEEOAEINSPINSPINSPSTREAMINGSTREAMINGACCESSACCESSHHSTREAMINGACCESSHACACACAMAMAMUPUPUPCOCOCOMMMLILILI2012 Consolidated Revenue and Operating Profit ProfileLOLOLOREVENUEAdJUSTEd OPERATiNG PROFiTGGGRFRFRFINSPIREINSPIREINSPIREFEFEDDFEDSSSSSSNNNNNNKINGKINGKINGWIRELESS58WIRELESS62ADADADSTRESTRESTRETATATASUSUSUACRELIACRELIACRELIXTXTXTSTSTSTFREEDOFREEDOCABLE26FREEDOSUSUSUECECECCECECERELIABLERELIABLECABLE32RELIABLETHTH12548THSESESESTRESTRESTREBILLIONBILLIONSECURSECUREESECURECECECEUPLOADUPLOADUPLOADYLYLYLABABCONNECTCONNECTABCONNECTEAEAEAMEDIA13MEDIA4TTTACCESSACCESSACCESSRFRFRFCONNECCONNECTTCONNECTINSPIRREINSPIRREINSPIRREBuSInESS SOLutIOnS3BuSInESS SOLutIOnS2ACBRACBRACBRSSSSCURECURESSCURENENENELELELELIVELIVELIVEINSPIRINSPIREEINSPIREEEELIABLELIABLEAMINAMINLIABLETUNESTUNESAMINTUNESRELIABLERELIABLERELIABLETTPOSPOSPOSTUPUPUPfOR A DEtAILED DISCuSSIOn Of OuR fInAnCIAL AnD OPERAtIng MEtRICS AnD RESuLtSFINANCIAL hIGhLIGhTS 2012PLEASE SEE thE ACCOMPAnyIng MDA LAtER In thIS REPORtINSPIREINSPIREINSPIRELOLOLOINSPIREINSPIREINSPIRELIFESTYLELIFESTYLELIFESTYLEADADXTXTADXTiFRSCdN GAAPOWNLOADOWNLOADfinancial highlightsOWNLOADVEVEVEEEGGEGIn MILLIOnS Of DOLLARS ExCEPt PER ShARE SuBSCRIBER AnD EMPLOyEE DAtA 2012 2011 2010 2009 2008RELIABLERELIABLERELIABLECURECURECURERevenue 12486 12346 11999 11537 11110INSPIREINSPIREINSPIRENETWORKTUNESNETWORKTUNESNETWORKTUNESLILILIINSPINSPINSPTUNETUNETUNEAdjusted operating profit 4834 4739 4668 4407 4075Adjusted operating profit margin 39 38 39 38 37CONNECTREEDOMCONNECTREEDOMCONNECTREEDOMSECURESECURESECURERELIABLERELIABLERELIABLENENENESESESELILILIAdjusted net income 1788 1736 1704 1569 1272Adjusted diluted earnings per share 343 317 294 253 199CONNECTCONNECTCONNECTACCESSINSPIREACCESSINSPIREACCESSINSPIREAnnualized dividend rate at yearend 158 142 128 116 100SURFSURFSURFVEVEVESECURESECURESECURETotal assets 19618 18362 17033 17018 17082INSPIREINSPIREINSPIRELongterm debt includes current portion 10789 10034 8654 8464 8507SECURESECURESECUREIRIRIRShareholders equity 3768 3572 3760 4273 4716CONNECONNECCCONNECMarket capitalization of equity 23346 20736 19435 19476 23679POSTPOSTPOSTCONNECTCONNECTCONNECTSSSEEEWireless subscribers 000s 9437 9335 8977 8494 7942Cable subscribers 000s 2214 2297 2305 2296 2320FASTFASTFASTINSPIREINSPIREINSPIRETUNESTUNESTUNESINSPIREINSPIREINSPIRELILILILISELISELISEInternet subscribers 000s 1864 1793 1686 1619 1571CCCCable telephony subscribers 000s 1074 1052 1003 937 840GGSECURESECUREGSECUREFEFEFECURECURECUREONNONNONNNumber of employees 26801 28745 2797128985 29200FEFEFEINSPIREINSPIREINSPIREINININSECURESECURESECURECONNECTCONNECTCONNECTSTSTSTSTSTSTINSPIREINSPIREINSPIREAKAKAKBREATHTAKINGBREATHTAKINGBREATHTAKINGYLYLYLRELIABLERELIABLERELIABLEXTXTXTtotal Shareholder ReturnLIFESTYLELIFESTYLELIFESTYLEDOWNLOADDOWNLOADDOWNLOADECECYLYLTENYEAR COmPARATiVE TOTAL RETURN 20032012ONEYEAR COmPARATiVE TOTAL RETURN 2012ECYLEEETHTTHTTHTUPLOADUPLOADSECURESECUREUPLOADSECURECONNECTCONNECTCONNECT20716121865414199254109POSTPOSTPOSTEAEAEARELIABLERELIABLERELIABLEEEETTTSECURESECURESECUREINSPIREINSPIREINSPIREBRBRBRNENENETUNTUNEETUNELIFESTYLELIFESTYLELIFESTYLEONNECTONNECTONNECTRELIABLERELIABLERELIABLESTREAMINGSTREAMINGSTREAMINGINSPIRINSPIRTUNESTUNESINSPIRTUNESINSPIREINSPIREINSPIRENETWORKNETWORKNETWORKLICLICLICTTTONNONNONNLIFESTYLIFESTYLIFESTYFEFEFEBREATHTAKINGBREATHTAKINGBREATHTAKINGSHARESHARESHARERCibRCibSPtSxSP 500SP 500tSx SPtSxtSx SP 500 SP 500 on TSXon TSXCOMPOSItEInDExInDExtELECOM COMPOSItEtELECOM tELECOM tELECOM CONNCONNCONNECECECSURFSURFSURFSTSTSTInDExInDExInDExInDExInDExInDExDOWNLOADDOWNLOADDOWNLOADECECECYLYLYLSECUSECUSECUCURECURECURERELIABLERELIABLERELIABLE2012 AnnuAL REPORt ROGERS COmmUNiCATiONS iNC 01EEEONNONNONNEETTETCONNCONNCONNSTREAMINGSTREAMINGACCESSACCESSSTREAMINGACCESSSESECCSEC
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