Cogeco 2013 Annual Report Download - page 7

6 COGECO CABLE INC. 2013 Message to shareholders
SOCIAL RESPONSABILITY - AT THE HEART OF OUR ACTION
For fiscal 2013, Cogeco Cable evolved its environmental policy to take on a more inclusive approach to social responsibility, and developed a
policy around five major engagements: managing our ecological footprint, taking part in developing communities, integrating the best corporate
social responsibility (“CSR”) practices, being transparent in communicating our CSR activities and ensuring the Corporation’s growth. We continue
to measure our progress against the green house gas emissions targets we set in 2012 and are pleased with our progress to date. Our Corporation
will continue to implement initiatives throughout 2014 to further reduce its carbon footprint by adopting management practices that will produce
additional energy savings.
REGULATORY MATTERS IN CANADA
On June 27, 2013, the Canadian Radio-Television and Telecommunications Commission (“CRTC”) approved BCE’s revised proposal to acquire
Astral Media Inc.’s (“Astral”) assets. Cogeco Cable participated in the CRTC proceedings to comment on the proposal which had been revised
to include various divestments and a commitment to certain conduct with respect to affiliation agreements. The CRTC imposed, as a condition
of its decision, additional safeguards, which addressed a number of the arguments which we had shared. Cogeco Cable participated in other
CRTC broadcasting and telecommunications proceedings throughout the year and plans to continue its full engagement and participation going
forward, in order to support the continued development of a healthy broadcasting and telecommunications industry in Canada, and to demonstrate
our dedication to the interests of the Canadian consumer.
2014 OUTLOOK
Fiscal 2014 will be a time of integration, consolidation and further enhancement of our market positioning, with a close focus on debt reduction.
In the Enterprise services segment, PEER 1 will contribute to capture a larger share of the growing demand for our services and to expand its
penetration of enterprise services customers by leveraging its 16 data centres. With regard to the American Cable services segment, Atlantic
Broadband will continue growing its market share in its footprint through product marketing strategy. Overall, Cogeco Cable will continue to
integrate and consolidate its Cable and Enterprise services segments and further seek opportunities to leverage scale and expertise and, ultimately,
create value for Cogeco Cable's shareholders.
Cogeco Cable expects to generate over $1.9 billion in revenue, $885 million in operating income before depreciation and amortization and $230
million in profit for the year during fiscal 2014.
CONCLUDING REMARKS
We wish to thank the members of our Board of Directors for their wise counsel and unwavering support, which enabled your Corporation to
continue growing profitably.
In terms of quality of governance, the 11th edition of its Annual Corporate Governance Rankings published by The Globe and Mail Report on
Business in November 2012 ranks Cogeco Cable Inc. in the top third of the 244 companies reviewed. The same study again ranked Cogeco
Cable Inc. among the top Canadian companies that have a dual-class structure and are family-owned.
A FEW WORDS IN MEMORY OF OUR FOUNDER
On November 4, 2012, we announced the passing of our founder, Mr. Henri Audet. Mr. Audet leaves behind a vibrant legacy of pioneering efforts
in the Canadian broadcasting and cable industries, growing the Corporation from modest origins through the launch of a local television station
in Trois-Rivières in 1957 to a major Canadian cable and media player by the time he passed the baton as President and Chief Executive Officer
in 1993. He has been honored with the Order of Canada and inducted to the Canadian Broadcasting Association’s hall of fame and received
two honorary doctorates from the Université du Québec à Trois-Rivières and Université de Montréal for his outstanding career achievements. To
all of us at Cogeco Cable today, Mr. Audet will be remembered for his great vision and determination and it brings us great pride to observe in
our 4,500 employees that contribute to our Corporation’s continued growth and success daily, the same underlying values that he promoted:
dedication to customers, teamwork, innovation, respect and integrity. Mr. Audet’s legacy lives on and he will always remain a great source of
inspiration to all.
Louis Audet
President and Chief Executive Officer Jan Peeters Board Chair