Cogeco 2004 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 2004 Cogeco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 60

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60

50 Cogeco Cable Inc. 2004
(in thousands of dollars, except other statistics, per share data and ratios) 2004 2003 2002
(restated) (restated)
$$$
Operations
Revenue 526,480 489,194 460,502
Operating Income 203,246 175,609 159,500
Financial expense 57,957 61,113 59,645
Income (loss) before income taxes 5,075 4,262 (3,224)
Net loss 32,194 124 4,524
Cash Flow
Cash flow from operations 144,778 112,525 102,327
Acquistions of fixed assets and increase in deferred charges 101,244 110,119 142,062
Free Cash Flow 43,534 2,406 (39,735)
Financial condition
Fixed assets 687,960 723,273 726,200
Net assets employed
(1)
1,619,540 1,663,936 1,684,378
Total assets 1,761,379 1,802,744 1,812,475
Indebtedness 758,133 806,429 828,570
Shareholders’ equity 663,534 695,089 695,197
Other statistics
Number of shares outstanding at year end 39,923,915 39,881,143 39,873,814
Weighted average number of outstanding shares 39,901,595 39,881,871 39,871,601
Per share data (basic)
Operating Income 5.09 4.40 4.00
Net loss 0.81 0.00 0.11
Cash flow from operations 3.63 2.82 2.57
Return ratios
Operating Margin
(2)
38.6% 35.9% 34.6%
Return on average net assets employed
(3)
12.4% 10.5% 9.5%
Return on equity
(4)
(4.7)% (0.0)% (0.6)%
Financial ratios
Indebtedness/Operating Income 3.7 4.6 5.2
Interest coverage
(5)
3.5 2.9 2.7
Indebtedness/Shareholders’ equity 1.1 1.2 1.2
THREE-YEAR FINANCIAL HIGHLIGHTS
(1)
Total assets less cash and cash equivalents, accounts payable and
accrued liabilities and deferred and prepaid income.
(2)
Operating Income/Revenue.
(3)
Operating Income/Average net assets employed.
(4)
Net income applicable to multiple voting shares and
subordinate voting shares/Average shareholders’ equity.
(5)
Operating Income/Financial expense.