Quebecor to Face Shareholders Amid National Expansion and Strong Profits

MONTREAL, QC – May 13, 2026 – As Quebecor executives prepare to address shareholders at their Annual Meeting this Thursday, they do so from a position of marked financial strength and amid an aggressive national expansion aimed at reshaping Canada's telecommunications landscape. The meeting, followed by a press conference with Chair of the Board Sylvie Lalande and President and CEO Pierre Karl Péladeau, is expected to highlight a banner year in 2025 and outline the strategic path forward for the integrated communications giant.

The company enters the meeting on the heels of a robust fiscal year that saw significant growth across key financial metrics, reinforcing its bid to solidify its status as Canada's fourth major wireless carrier. With major investments in its 5G network and a clear focus on chipping away at the dominance of the country's three largest telecom players, all eyes will be on Péladeau to articulate how this momentum will be sustained.

A Year of Financial Fortitude

Shareholders have reason for optimism heading into the May 14th meeting. Quebecor's full-year 2025 financial results, released in late February, painted a picture of a company firing on all cylinders. The firm reported a remarkable 27.3% increase in free cash flows, which reached $1.43 billion. This surge in available capital was achieved alongside steady growth in revenues, which climbed to $5.68 billion, and an adjusted EBITDA of $2.39 billion.

More impressively, the company's net income attributable to shareholders jumped 14.5% to $856.0 million for the year. This performance translated directly into shareholder value, prompting the board to approve a 14.3% increase in the quarterly dividend, raising it to $0.40 per share. This move signals strong confidence from leadership in the company's continued ability to generate cash and manage its obligations effectively.

Perhaps the most significant financial achievement highlighted in its 2025 report was the successful deleveraging of its balance sheet. Quebecor reduced its consolidated net debt by nearly $800 million over the year, bringing its net debt leverage ratio down to 2.95x. The company proudly noted this is the lowest ratio among Canada's major telecommunications providers, a critical advantage in a capital-intensive industry where rivals are managing substantial debt loads, particularly in the wake of major acquisitions and 5G network build-outs.

The National Challenger Strategy

The financial stability achieved in 2025 serves as the foundation for Quebecor's ambitious strategic priority: to disrupt the national telecom market. Central to this strategy is the integration and expansion of Freedom Mobile, which the company acquired as part of Rogers' takeover of Shaw Communications. This acquisition instantly transformed Quebecor from a regional powerhouse into a national player, and the company has wasted no time leveraging its new asset.

Throughout 2025 and into 2026, Quebecor has been aggressively investing in upgrading Freedom Mobile's network. A key development is the phased rollout of its 3800 MHz spectrum, which is dramatically increasing the capacity and speed of its 5G+ network in key markets across Ontario, Alberta, and British Columbia. This technological leap enables theoretical download speeds exceeding 1 Gbps, putting Freedom's network on a more competitive footing with those of Bell, Rogers, and Telus.

Under Péladeau's leadership, the company's vision is clear: use its brands—Videotron, Freedom Mobile, and the all-digital Fizz—to offer competitive pricing and innovative services to a broader Canadian audience. The company now reports its telecommunications services are available to over 34 million Canadians, a testament to its rapid expansion. This multi-brand approach allows Quebecor to target different market segments, from customers seeking feature-rich bundled services with Videotron to price-conscious consumers drawn to Fizz's flexible, digital-first model.

Expanding Connectivity and Consumer Choice

Beyond financial metrics and network infrastructure, Quebecor's recent performance underscores a tangible impact on Canadian consumers. The Telecommunications segment saw a net increase of 311,000 mobile telephony connections in 2025, a 7.6% year-over-year increase. Its internet access services also grew, adding 7,500 new subscriptions.

Innovation in service offerings has been a key driver of this growth. In February 2025, the company launched Fizz TV, a fully digital, pick-and-pay television service for its internet subscribers in Quebec, reflecting a broader industry shift toward flexible, à la carte content consumption. Meanwhile, its flagship Videotron brand continued to expand its advanced Helix Internet and television services, reaching over 180,000 new households.

This focus on the customer experience appears to be paying off. In the 2025 annual report from the Commission for Complaints for Telecom-television Services (CCTS), Quebecor's brands were recognized for high levels of customer satisfaction. Furthermore, a late 2025 Léger survey once again ranked Videotron as Quebecers' most preferred telecommunications provider. Maintaining this reputation for quality service will be crucial as the company ventures deeper into new and highly competitive markets outside its home province.

As executives take the stage, they will be tasked with reassuring investors that the company can balance this costly national expansion with the financial discipline that has become its hallmark. The strategic decisions announced and the outlook provided will not only shape Quebecor's trajectory but could also send ripples across the entire Canadian telecom and media industry.