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This autumn income of $630 million, up 5% year-over-year and 9% on a relentless forex foundation1; full-year income of $2,468 million, up 12% year-over-year and 16% on a relentless forex foundation
This autumn internet earnings of $34 million and full-year internet earnings of $183 million, in contrast with $36 million and $78 million within the prior 12 months, respectively
Article content material
This autumn diluted EPS of $0.13 and full-year diluted EPS of $0.68, in contrast with $0.13 and $0.29 within the prior 12 months, respectively
This autumn Adjusted EBITDA1 of $157 million, 10% larger year-over-year; full-year Adjusted EBITDA of $607 million, 12% larger than prior 12 months
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This autumn Adjusted Diluted EPS1 of $0.35, 25% larger year-over-year; full-year Adjusted Diluted EPS of $1.23, 23% larger than prior 12 months
Continued wholesome money movement and improved leverage place in This autumn; post-WillowTree acquisition, leverage stays inside goal steady-state vary
2023 outlook plans for continued double-digit worthwhile development
VANCOUVER, British Columbia — TELUS Worldwide (NYSE and TSX: TIXT), a number one digital buyer expertise innovator that designs, builds, and delivers next-generation options, together with AI and content material moderation, for world and disruptive manufacturers, at present launched its outcomes for the fourth quarter and full-year ended December 31, 2022. TELUS Company (TSX: T, NYSE: TU) is the controlling shareholder of TELUS Worldwide. All figures on this information launch, and elsewhere in TELUS Worldwide disclosures, are in U.S. {dollars}, until specified in any other case, and relate solely to TELUS Worldwide outcomes and measures.
“In 2022, our highly-engaged and gifted TELUS Worldwide workforce members delivered on our collective dedication to develop the enterprise profitably and provides again to the communities the place we function, even amidst difficult macroeconomic circumstances,” mentioned Jeff Puritt, President and CEO of TELUS Worldwide. “Certainly, recessionary headwinds continued by means of the fourth quarter, impacting the timing and velocity of latest initiatives, and we count on this dynamic to persist at the least within the close to time period. Regardless of this, TELUS Worldwide has remained resilient, backed by our status as a trusted companion and strategic advisor for over 650 world purchasers, which permits us to seize alternatives of near-term vendor consolidation and strongly positions us to learn from longer-term digital transformation tailwinds.”
Jeff continued, “Within the fourth quarter, the vast majority of our new purchasers had been primarily headquartered in america and included: a consulting firm that helps complicated authorities, protection, and intelligence initiatives; one of many quickest rising e-commerce corporations that makes a speciality of journey and leisure; and an revolutionary synthetic intelligence-powered developer and repair supplier within the gross sales and advertising and marketing area. In Europe, our workforce gained new enterprise with a number one digital funding platform that makes investing straightforward and reasonably priced. We had been additionally profitable in our targeted efforts to broaden engagements throughout our current shopper base, most notably rising our share of pockets with a diversified record of purchasers that included: an American on-line meals ordering and supply platform; a world skilled companies agency targeted on human assets and mission administration; a number one video social media platform; a seller of heavy tools and energy technology within the US; and one of many largest American multinational telecommunications conglomerates.”
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Jeff added, “In January, we formally welcomed the workforce at WillowTree, now a TELUS Worldwide Firm, and instantly started working collectively to establish and execute on thrilling cross-selling alternatives between our respective purchasers. This consists of the numerous enlargement of companies we plan to supply for our mum or dad firm TELUS Company, as they additional improve and remodel the client experiences they supply throughout their broad portfolio of companies, together with well being, agriculture and client items. These alternatives at hand and others within the pipeline assist to set the stage for our ongoing success within the quarters forward. TELUS Worldwide has carved out a singular place within the trade, and in 2022 was acknowledged as one of many Forbes Finest Employers for Range and listed on Mogul’s High 100 Workplaces for Numerous Illustration, and for the second consecutive 12 months, our proprietary Agent Help bot was named the Finest Informational Bot Resolution within the AI Breakthrough Awards. These achievements are made attainable by our workforce members, and for the ninth consecutive 12 months, TELUS Worldwide scored within the high quartile for worker engagement in our annual world survey carried out by third-party supplier, Kincentric. Our means to persistently keep this management place is in flip a testomony to our caring tradition that involves life in small on a regular basis moments all through the enterprise along with our large-scale TELUS Days of Giving volunteer occasions and 5 neighborhood boards positioned throughout the globe. These initiatives are a part of our broader ongoing efforts to additional develop and improve our environmental, social and governance commitments to create incremental advantages and worth for all stakeholders that you would be able to learn extra about in our first stand-alone sustainability report back to be issued in April.”
Vanessa Kanu, CFO mentioned, “Whereas macroeconomic pressures exterior of our direct management impacted the latter a part of 2022, TELUS Worldwide demonstrated outstanding resiliency in profitability. For the complete 12 months, revenues grew 12%, or 16% on a relentless forex foundation, whereas delivering Adjusted EBITDA margins on the excessive finish of our newest outlook vary, together with Adjusted Diluted EPS development of 23%. Our means to generate robust money movement and scale back debt was additionally on show in 2022, with our Web Debt to Adjusted EBITDA Leverage Ratio as per our credit score settlement starting the 12 months at 2.1x and ending the 12 months at 1.1x. As anticipated, upon the shut of the WillowTree acquisition on January third, this ratio was 2.9x and stays inside our goal steady-state vary of 2-3x. We imagine the expansion and money movement traits shared by each corporations will assist additional deleveraging over the close to time period.”
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Vanessa concluded, “Trying forward, our 2023 outlook acknowledges that whereas macroeconomic challenges are nonetheless current, TELUS Worldwide expects to proceed to ship double-digit income development and robust profitability. The alternatives to develop with our current purchasers are thrilling, as many are actively searching for new methods to leverage finest at school expertise options, whereas lowering their very own prices, or as we wish to say, “to do higher with much less!” There are additionally vital cross-sell alternatives that we intend to seize in reference to the WillowTree acquisition, together with spend displacement alternatives inside our mum or dad firm, TELUS Company.”
Supplied under are monetary and working highlights that embrace sure non-GAAP measures. See the Non-GAAP part of this information launch for a dialogue on such measures.
This autumn 2022 vs. This autumn 2021 highlights
- Income of $630 million, up $30 million or 5% in contrast with the identical interval within the prior 12 months was pushed by development in companies supplied to current and new purchasers. Our income development included an unfavourable overseas forex impression of roughly 4% in contrast with the identical quarter of the prior 12 months, which was predominantly pushed by the strengthening U.S. greenback change fee towards the euro.
- Web earnings of $34 million and diluted EPS of $0.13, in contrast with $36 million and $0.13 respectively, in the identical quarter of the prior 12 months. Web earnings margin, calculated by dividing internet earnings by income for the interval, was 5.4%, down from 6.0% for a similar quarter within the prior 12 months. Web earnings and diluted EPS embrace the impression of share-based compensation, acquisition and integration costs and amortization of bought intangible property, amongst different gadgets. Adjusted Web Earnings2, which excludes the impression of such gadgets, was 27% larger year-over-year at $95 million within the fourth quarter of 2022, up from $75 million in the identical quarter of the prior 12 months.
- Adjusted EBITDA was $157 million, up 10% from $143 million in the identical quarter of the prior 12 months, pushed by enterprise quantity development and operational effectivity enhancements and different price rationalizations. These components resulted in Adjusted EBITDA Margin2 of 24.9%, a rise from 23.8% in the identical quarter of the prior 12 months. Adjusted Diluted EPS was $0.35, 25% larger year-over-year.
- Money supplied by working actions was $84 million, up 17% from $72 million in the identical quarter of the prior 12 months, and Free Money Circulation2 was $60 million, up 62% from $37 million in the identical quarter of the prior 12 months, pushed by larger money supplied by working actions from enterprise development, decrease internet outflows from working capital and decrease share-based compensation funds.
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- Web Debt to Adjusted EBITDA Leverage Ratio as per credit score settlement of 1.1x as of December 31, 2022, additional improved from 1.3x as of September 30, 2022, and a pair of.1x as of December 31, 2021, reflecting continued debt reimbursement from money supplied by working actions. In reference to our acquisition of WillowTree, our credit score facility was upsized to $2 billion in late December and prolonged for five years on comparable phrases to our prior settlement. Following the shut of the acquisition of WillowTree in early January 2023, Web Debt to Adjusted EBITDA Leverage Ratio as per credit score settlement elevated to 2.9x and stays inside the goal steady-state vary of 2-3x.
- Group member depend was 73,142 as of December 31, 2022, a rise of 18% year-over-year, with development throughout numerous geographies.
2022 vs. 2021 highlights
- Income of $2,468 million, up $274 million or 12% enhance year-over-year was pushed by development in companies supplied to current and new purchasers. Our income development included an unfavourable overseas forex impression of roughly 4% in contrast with the prior 12 months, which was predominantly pushed by the strengthening U.S. greenback change fee towards the euro.
- Web earnings of $183 million and diluted EPS of $0.68, in contrast with $78 million and $0.29 respectively, within the prior 12 months. Web earnings and diluted EPS embrace the impression of share-based compensation, acquisition and integration costs and amortization of bought intangible property, amongst different gadgets. Adjusted Web Earnings, which excludes the impression of such gadgets, was 24% larger year-over-year at $332 million, in contrast with $267 million within the prior 12 months.
- Adjusted EBITDA of $607 million, up 12% from $540 million within the prior 12 months, pushed by the rise in income, partially offset by larger salaries and advantages and items and companies bought to assist general development within the enterprise, and Adjusted EBITDA margin of 24.6% was in line with the prior 12 months. Adjusted Diluted EPS was $1.23, up 23% from $1.00 within the prior 12 months.
- Money supplied by working actions was $437 million, up 41% from $311 million within the prior 12 months, and Free Money Circulation was $333 million, up 59% from $210 million within the prior 12 months, pushed by larger working earnings generated from enterprise development, decrease internet outflows from working capital and decrease share-based compensation funds.
A dialogue of our outcomes of operations is included in our 2022 Administration’s Dialogue and Evaluation dated February 9, 2023 and filed on SEDAR and “Merchandise 5: Working and Monetary Overview and Prospects” in our Annual Report on Type 20-F, dated February 9, 2023 and filed on EDGAR. Such supplies and extra data are additionally supplied at telusinternational.com/buyers.
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Outlook
Administration has launched the next full-year outlook for 2023:
- Income within the vary of $2,970 to $3,030 million, together with $255 to $260 million from WillowTree, a TELUS Worldwide Firm, representing development of 20.3% to 22.8% on a reported foundation, and development of 10% to 12% excluding WillowTree. This assumes a mean change fee of 1 euro to 1.08 U.S. {dollars} for 2023
- Adjusted EBITDA within the vary of $705 to $725 million, representing development of 16% to 19%, and Adjusted EBITDA Margin within the vary of 23.7% to 23.9%
- Adjusted Diluted EPS within the vary of $1.20 to $1.25, which incorporates fairness issued and better curiosity costs on debt taken related to the lately closed WillowTree acquisition
This autumn 2022 investor name
TELUS Worldwide will host a convention name at present, February 9, 2023 at 10:30 a.m. (ET) / 7:30 a.m. (PT), the place administration will evaluate the fourth quarter and full-year outcomes, adopted by a query and reply session with pre-qualified analysts. A webcast of the convention name might be streamed reside on the TELUS Worldwide Investor Relations web site at: https://www.telusinternational.com/buyers/news-events and a replay will even be out there on the web site following the convention name.
Non-GAAP
This information launch consists of non-GAAP monetary data, with reconciliation to GAAP measures introduced on the finish of this information launch. We report sure non-GAAP measures used within the administration evaluation of our efficiency, however these wouldn’t have a standardized that means underneath IFRS. These non-GAAP monetary measures and non-GAAP ratios is probably not similar to GAAP measures or ratios and is probably not similar to equally titled non-GAAP monetary measures or non-GAAP ratios reported by different corporations, together with these inside our trade and TELUS Company, our controlling shareholder.
Adjusted EBITDA, Adjusted Web Earnings, Free Money Circulation, and income on a relentless forex foundation are non-GAAP monetary measures, whereas Adjusted EBITDA Margin, Adjusted Diluted EPS, and income development on a relentless forex foundation are non-GAAP ratios.
Adjusted EBITDA is usually utilized by our trade friends and gives a measure for buyers to match and consider our relative working efficiency. We use it to evaluate our means to service current and new debt services, and to fund accretive development alternatives and acquisition targets. As well as, sure monetary debt covenants related to our credit score facility are based mostly on Adjusted EBITDA, which requires us to observe this non-GAAP monetary measure in reference to our monetary covenants. Adjusted EBITDA shouldn’t be thought of an alternative choice to internet earnings in measuring our monetary efficiency, and it shouldn’t be used as a substitute measure of present and future working money flows. Nonetheless, we imagine a monetary measure that presents internet earnings adjusted for these things would allow an investor to higher consider our underlying enterprise tendencies, our operational efficiency and general enterprise technique.
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We exclude gadgets from Adjusted Web Earnings and Adjusted EBITDA as we imagine they’re pushed by components that aren’t indicative of our ongoing working efficiency, together with adjustments in enterprise combination-related provisions, acquisition, integration and different, share-based compensation, overseas change good points or losses and amortization of bought intangible property, and the associated tax impact of those changes. Full reconciliations of Adjusted EBITDA and Adjusted Web Earnings to the comparable GAAP measure are included on the finish of this information launch.
We calculate Free Money Circulation by deducting capital expenditures from our money supplied by working actions, as we imagine capital expenditures are a essential ongoing price to take care of our current productive capital property and assist our natural enterprise operations. We use Free Money Circulation to judge the money flows generated from our ongoing enterprise operations that can be utilized to fulfill our monetary obligations, service debt services, reinvest in our enterprise, and to fund, partly, potential future acquisitions. Within the fourth quarter of 2022, we modified our presentation of money curiosity paid from money flows from working actions to money flows from financing actions as permitted by IAS 7, Assertion of money flows, which resulted in a change in Free Money Circulation; for added particulars, see Notice 1(a) of our audited consolidated monetary statements as at and for the 12 months ended December 31, 2022 filed on SEDAR and included in our Annual Report on Type 20-F filed on EDGAR.
Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by consolidated income. We often monitor Adjusted EBITDA Margin to judge our working efficiency in comparison with established budgets, operational targets and the efficiency of trade friends.
Adjusted Diluted EPS is utilized by administration to evaluate the profitability of our enterprise operations on a per share foundation. We often monitor Adjusted Diluted EPS because it gives a constant measure for administration and buyers to judge our period-over-period working efficiency, to higher perceive our means to handle working prices and to generate earnings. Adjusted Diluted EPS is calculated by dividing Adjusted Web Earnings by the diluted complete weighted common variety of fairness shares excellent through the interval.
Income on a relentless forex foundation is utilized by administration to evaluate income, probably the most instantly comparable GAAP measure, excluding the impact of overseas forex fluctuations. Income on a relentless forex foundation is calculated as present interval income utilizing overseas change charges prevailing within the comparable prior interval.
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Income development on a relentless forex foundation is utilized by administration to evaluate the expansion of income excluding the impact of overseas forex fluctuations. Income development on a relentless forex foundation is calculated as present interval income development utilizing overseas change charges prevailing within the comparable prior interval.
We now have not supplied a quantitative reconciliation of our full-year 2023 outlook for Adjusted EBITDA Margin and Adjusted Diluted EPS to our full-year 2023 outlook for internet earnings margin and diluted EPS as a result of we’re unable, with out making unreasonable efforts, to calculate sure reconciling gadgets with confidence, which may materially have an effect on the computation of those monetary ratios and measures.
Cautionary word relating to forward-looking statements
This information launch comprises forward-looking statements regarding our monetary outlook for the full-year 2023 outcomes, our enterprise, operations and monetary efficiency and situation, in addition to statements regarding the anticipated advantages and synergies of our acquisition of WillowTree and its impression on our enterprise, together with expectations relating to rapid-deleveraging and the flexibility to acquire helpful cross-selling alternatives and diversify the shopper base. We warning the reader that data supplied on this information launch relating to our monetary outlook for full-year 2023 outcomes, in addition to data relating to our aims and expectations, is supplied with a view to give context to the character of a few of the firm’s future plans and is probably not applicable for different functions. Any statements contained herein that aren’t statements of historic details could also be deemed to be forward-looking statements. In some instances, you may establish forward-looking statements by terminology corresponding to “goal”, “anticipate”, “assume”, “imagine”, “ponder”, “proceed”, “may”, “due”, “estimate”, “count on”, “objective”, “intend”, “could”, “goal”, “plan”, “predict”, “potential”, “positioned”, “search”, “ought to”, “goal”, “will”, “would” and different comparable expressions which are predictions of or point out future occasions and future tendencies, or the unfavourable of those phrases or different comparable terminology.
These forward-looking statements are based mostly on our present expectations, estimates, forecasts and projections about our enterprise, the advantages, synergies and dangers associated to our acquisition of WillowTree, and the trade wherein we function and administration’s beliefs and assumptions, and should not ensures of future efficiency or improvement and contain identified and unknown dangers, uncertainties and different components which are in some instances past our management.
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Particularly, we made a number of assumptions underlying our monetary outlook for the full-year 2023 outcomes, together with key assumptions in relation to: our means to execute our development technique, together with by increasing companies provided to current purchasers and attracting new purchasers; our means to take care of our company tradition and competitiveness of our service choices; our means to draw and retain expertise; our means to combine and notice the advantages of our acquisition of WillowTree; the relative development fee and measurement of our goal trade verticals; our projected working and capital expenditure necessities; and the impression of worldwide circumstances on our and our purchasers’ companies, together with a possible financial recession, rising rates of interest, the Russia-Ukraine battle and variants arising from the COVID-19 pandemic on our enterprise, monetary situation, monetary efficiency and liquidity. Our monetary outlook gives administration’s finest judgement of how tendencies will impression the enterprise and is probably not applicable for different functions.
Threat components which will trigger precise outcomes to vary materially from present expectations embrace, amongst different issues:
- We face intense competitors from corporations that supply companies just like ours.
- Our enterprise and monetary outcomes may very well be adversely affected by quite a lot of world circumstances, and the consequences of those similar circumstances on our purchasers’ companies and demand for our companies.
- Three purchasers account for a good portion of our income and lack of or discount in enterprise from, or consolidation of, these or another main purchasers may have a cloth opposed impact.
- Our development prospects are dependent upon attracting and retaining sufficient certified workforce members to assist our operations, as competitors for expertise is intense.
- Our means to develop and keep our profitability may very well be materially affected if adjustments in expertise and shopper expectations outpace our service choices and the event of our inside instruments and processes or if we aren’t capable of meet the expectations of our purchasers.
- If we can not keep our tradition as we develop, our companies, monetary efficiency and enterprise could also be harmed.
- Our enterprise may very well be adversely affected if we lose a number of members of our senior administration.
- Our enterprise could not develop in ways in which we at the moment anticipate attributable to unfavourable public response to offshore outsourcing, content material moderation and proposed laws or in any other case.
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- Our enterprise can be adversely affected if people offering knowledge annotation companies by means of TIAI’s crowdsourcing options had been categorized as workers (not as unbiased contractors).
- We may very well be unable to efficiently establish, full, combine and notice the advantages of acquisitions, together with our lately accomplished acquisition of WillowTree or handle the related dangers.
- The unauthorized disclosure of delicate or confidential shopper and buyer knowledge, by means of cyberattacks or in any other case, may expose us to protracted and expensive litigation, injury our status and trigger us to lose purchasers / income.
- Our insurance policies, procedures and applications to safeguard the well being, security and safety of our workforce members, notably our content material moderation workforce members, is probably not sufficient, which may adversely have an effect on our means to draw and retain workforce members and will end in elevated prices, together with attributable to claims towards us.
- The twin-class construction contained in our articles has the impact of concentrating voting management and the flexibility to affect company issues with TELUS Company.
- The market value of our subordinate voting shares could also be affected by low buying and selling quantity and the market pricing for our subordinate voting shares could decline on account of future gross sales, or the notion of the chance of future gross sales, by us or our shareholders within the public market.
- TELUS Company will, for the foreseeable future, management the TELUS Worldwide board of administrators.
These threat components, in addition to different threat components which will impression our enterprise, monetary situation and outcomes of operation, are additionally described in our “Threat Elements” part of our Annual Report out there on SEDAR and in “Merchandise 3D—Threat Elements” of our Annual Report on Type 20-F filed on February 9, 2023 and out there on EDGAR.
|
TELUS Worldwide (Cda) Inc. Consolidated Statements of Earnings |
||||||||||||||||
|
Three months |
Twelve months |
|||||||||||||||
|
Intervals ended December 31 |
2022 |
2021 |
2022 |
2021 |
||||||||||||
|
REVENUE |
$ |
630 |
$ |
600 |
$ |
2,468 |
$ |
2,194 |
||||||||
|
OPERATING EXPENSES |
||||||||||||||||
|
Salaries and advantages |
349 |
332 |
1,393 |
1,222 |
||||||||||||
|
Items and companies bought |
124 |
125 |
468 |
432 |
||||||||||||
|
Share-based compensation |
5 |
9 |
25 |
75 |
||||||||||||
|
Acquisition, integration and different |
23 |
5 |
40 |
23 |
||||||||||||
|
Depreciation |
36 |
30 |
124 |
115 |
||||||||||||
|
Amortization of intangible property |
32 |
36 |
134 |
142 |
||||||||||||
|
569 |
537 |
2,184 |
2,009 |
|||||||||||||
|
OPERATING INCOME |
61 |
63 |
284 |
185 |
||||||||||||
|
OTHER (INCOME) EXPENSES |
||||||||||||||||
|
Curiosity expense |
12 |
8 |
41 |
44 |
||||||||||||
|
International change loss (acquire) |
18 |
(2 |
) |
(7 |
) |
(1 |
) |
|||||||||
|
INCOME BEFORE INCOME TAXES |
31 |
57 |
250 |
142 |
||||||||||||
|
Earnings tax (restoration) expense |
(3 |
) |
21 |
67 |
64 |
|||||||||||
|
NET INCOME |
$ |
34 |
$ |
36 |
$ |
183 |
$ |
78 |
||||||||
|
EARNINGS PER SHARE |
||||||||||||||||
|
Fundamental |
$ |
0.13 |
$ |
0.14 |
$ |
0.69 |
$ |
0.30 |
||||||||
|
Diluted |
$ |
0.13 |
$ |
0.13 |
$ |
0.68 |
$ |
0.29 |
||||||||
|
TOTAL WEIGHTED AVERAGE SHARES OUTSTANDING (thousands and thousands) |
||||||||||||||||
|
Fundamental |
267 |
266 |
266 |
264 |
||||||||||||
|
Diluted |
269 |
269 |
270 |
267 |
||||||||||||
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TELUS Worldwide (Cda) Inc. Consolidated Statements of Monetary Place |
||||||
|
As at (US$ thousands and thousands) |
December 31, 2022 |
December 31, 2021 |
||||
|
ASSETS |
||||||
|
Present property |
||||||
|
Money and money equivalents |
$ |
125 |
$ |
115 |
||
|
Accounts receivable |
428 |
414 |
||||
|
Due from affiliated corporations |
81 |
53 |
||||
|
Earnings and different taxes receivable |
7 |
6 |
||||
|
Pay as you go and different property |
35 |
36 |
||||
|
Present portion of spinoff property |
19 |
3 |
||||
|
695 |
627 |
|||||
|
Non-current property |
||||||
|
Property, plant and tools, internet |
449 |
405 |
||||
|
Intangible property, internet |
1,008 |
1,158 |
||||
|
Goodwill |
1,350 |
1,380 |
||||
|
By-product property |
13 |
— |
||||
|
Deferred earnings taxes |
14 |
23 |
||||
|
Different long-term property |
27 |
33 |
||||
|
2,861 |
2,999 |
|||||
|
Whole property |
$ |
3,556 |
$ |
3,626 |
||
|
LIABILITIES AND OWNERS’ EQUITY |
||||||
|
Present liabilities |
||||||
|
Accounts payable and accrued liabilities |
$ |
290 |
$ |
336 |
||
|
Attributable to affiliated corporations |
111 |
71 |
||||
|
Earnings and different taxes payable |
67 |
67 |
||||
|
Present maturities of long-term debt |
83 |
328 |
||||
|
Present portion of spinoff liabilities |
1 |
5 |
||||
|
552 |
807 |
|||||
|
Non-current liabilities |
||||||
|
Lengthy-term debt |
881 |
820 |
||||
|
By-product liabilities |
— |
17 |
||||
|
Deferred earnings taxes |
264 |
305 |
||||
|
Different long-term liabilities |
21 |
22 |
||||
|
1,166 |
1,164 |
|||||
|
Whole liabilities |
1,718 |
1,971 |
||||
|
Homeowners’ fairness |
1,838 |
1,655 |
||||
|
Whole liabilities and house owners’ fairness |
$ |
3,556 |
$ |
3,626 |
||
|
TELUS Worldwide (Cda) Inc. Consolidated Statements of Money Flows |
||||||||||||||||
|
Three months |
Twelve months |
|||||||||||||||
|
Intervals ended December 31 (US$ thousands and thousands) |
2022 |
2021 |
2022 |
2021 |
||||||||||||
|
OPERATING ACTIVITIES |
||||||||||||||||
|
Web earnings |
$ |
34 |
$ |
36 |
$ |
183 |
$ |
78 |
||||||||
|
Changes: |
||||||||||||||||
|
Depreciation and amortization |
68 |
66 |
258 |
257 |
||||||||||||
|
Curiosity expense |
12 |
8 |
41 |
44 |
||||||||||||
|
Earnings tax (restoration) expense |
(3 |
) |
21 |
67 |
64 |
|||||||||||
|
Share-based compensation |
5 |
9 |
25 |
75 |
||||||||||||
|
Change in market worth of derivatives and different |
25 |
6 |
2 |
— |
||||||||||||
|
Web change in non-cash working working capital |
(7 |
) |
(40 |
) |
(26 |
) |
(69 |
) |
||||||||
|
Share-based compensation funds |
(5 |
) |
(15 |
) |
(19 |
) |
(45 |
) |
||||||||
|
Earnings taxes paid, internet |
(45 |
) |
(19 |
) |
(94 |
) |
(93 |
) |
||||||||
|
Money supplied by working actions |
84 |
72 |
437 |
311 |
||||||||||||
|
INVESTING ACTIVITIES |
||||||||||||||||
|
Money funds for capital property |
(29 |
) |
(32 |
) |
(105 |
) |
(99 |
) |
||||||||
|
Money funds for different property |
— |
— |
(13 |
) |
— |
|||||||||||
|
Money funds for acquisitions, internet of money acquired |
(1 |
) |
— |
(1 |
) |
(11 |
) |
|||||||||
|
Money utilized in investing actions |
(30 |
) |
(32 |
) |
(119 |
) |
(110 |
) |
||||||||
|
FINANCING ACTIVITIES |
||||||||||||||||
|
Shares issued |
1 |
1 |
3 |
527 |
||||||||||||
|
Share issuance prices |
— |
— |
— |
(34 |
) |
|||||||||||
|
Withholding taxes paid associated to internet share settlement of fairness awards |
— |
(2 |
) |
(1 |
) |
(5 |
) |
|||||||||
|
Compensation of long-term debt |
(475 |
) |
(77 |
) |
(682 |
) |
(765 |
) |
||||||||
|
Lengthy-term debt issued |
411 |
32 |
411 |
71 |
||||||||||||
|
Debt issuance prices |
(8 |
) |
— |
(8 |
) |
— |
||||||||||
|
Curiosity paid on credit score services |
(7 |
) |
(8 |
) |
(23 |
) |
(29 |
) |
||||||||
|
Money utilized in financing actions |
(78 |
) |
(54 |
) |
(300 |
) |
(235 |
) |
||||||||
|
Impact of change fee adjustments on money and money equivalents |
6 |
(1 |
) |
(8 |
) |
(4 |
) |
|||||||||
|
CASH POSITION |
||||||||||||||||
|
(Lower) enhance in money and money equivalents |
(18 |
) |
(15 |
) |
10 |
(38 |
) |
|||||||||
|
Money and money equivalents, starting of interval |
143 |
130 |
115 |
153 |
||||||||||||
|
Money and money equivalents, finish of interval |
$ |
125 |
$ |
115 |
$ |
125 |
$ |
115 |
||||||||
Commercial 12
Article content material
|
Non-GAAP reconciliations |
||||||||||||||
|
Three Months Ended |
Twelve Months Ended |
|||||||||||||
|
(US$ thousands and thousands, besides percentages) |
2022 |
2021 |
2022 |
2021 |
||||||||||
|
Income, as reported |
$ |
630 |
$ |
600 |
$ |
2,468 |
$ |
2,194 |
||||||
|
International change on 2022 income utilizing 2021 charges |
21 |
87 |
||||||||||||
|
Income on a relentless forex foundation |
651 |
2,555 |
||||||||||||
|
Income development |
5 |
% |
12 |
% |
||||||||||
|
Income development on a relentless forex foundation |
9 |
% |
16 |
% |
||||||||||
|
Three Months Ended |
Twelve Months Ended |
|||||||||||||||
|
(US$ thousands and thousands, besides per share quantities) |
2022 |
2021 |
2022 |
2021 |
||||||||||||
|
Web earnings |
$ |
34 |
$ |
36 |
$ |
183 |
$ |
78 |
||||||||
|
Add again (deduct): |
||||||||||||||||
|
Acquisition, integration and different |
23 |
5 |
40 |
23 |
||||||||||||
|
Share-based compensation |
5 |
9 |
25 |
75 |
||||||||||||
|
International change loss (acquire) |
18 |
(2 |
) |
(7 |
) |
(1 |
) |
|||||||||
|
Amortization of bought intangible property |
30 |
33 |
121 |
132 |
||||||||||||
|
Tax impact of the changes above |
(15 |
) |
(6 |
) |
(30 |
) |
(40 |
) |
||||||||
|
Adjusted Web Earnings |
$ |
95 |
$ |
75 |
$ |
332 |
$ |
267 |
||||||||
|
Adjusted Fundamental Earnings Per Share |
$ |
0.36 |
$ |
0.28 |
$ |
1.25 |
$ |
1.01 |
||||||||
|
Adjusted Diluted Earnings Per Share |
$ |
0.35 |
$ |
0.28 |
$ |
1.23 |
$ |
1.00 |
||||||||
|
Three Months Ended |
Twelve Months Ended |
|||||||||||||||
|
(US$ thousands and thousands, besides percentages) |
2022 |
2021 |
2022 |
2021 |
||||||||||||
|
Web earnings |
$ |
34 |
$ |
36 |
$ |
183 |
$ |
78 |
||||||||
|
Add again (deduct): |
||||||||||||||||
|
Acquisition, integration and different |
23 |
5 |
40 |
23 |
||||||||||||
|
Share-based compensation |
5 |
9 |
25 |
75 |
||||||||||||
|
International change loss (acquire) |
18 |
(2 |
) |
(7 |
) |
(1 |
) |
|||||||||
|
Depreciation and amortization |
68 |
66 |
258 |
257 |
||||||||||||
|
Curiosity expense |
12 |
8 |
41 |
44 |
||||||||||||
|
Earnings taxes |
(3 |
) |
21 |
67 |
64 |
|||||||||||
|
Adjusted EBITDA |
$ |
157 |
$ |
143 |
$ |
607 |
$ |
540 |
||||||||
|
Web earnings margin |
5.4 |
% |
6.0 |
% |
7.4 |
% |
3.6 |
% |
||||||||
|
Adjusted EBITDA Margin |
24.9 |
% |
23.8 |
% |
24.6 |
% |
24.6 |
% |
||||||||
|
Three Months Ended |
Twelve Months Ended |
|||||||||||||||
|
(US$ thousands and thousands) |
2022 |
2021 |
2022 |
2021 |
||||||||||||
|
Money supplied by working actions |
$ |
84 |
$ |
72 |
$ |
437 |
$ |
311 |
||||||||
|
Much less: capital expenditures |
(24 |
) |
(35 |
) |
(104 |
) |
(101 |
) |
||||||||
|
Free Money Circulation |
$ |
60 |
$ |
37 |
$ |
333 |
$ |
210 |
||||||||
|
Calculation of Web Debt to Adjusted EBITDA Leverage Ratio as per credit score settlement |
||||||||
|
As at (US$ thousands and thousands, aside from ratio) |
December 31, |
December 31, |
||||||
|
Excellent credit score facility |
742 |
941 |
||||||
|
Contingent facility utilization |
7 |
7 |
||||||
|
Web spinoff |
1 |
19 |
||||||
|
Money stability1 |
(125 |
) |
(100 |
) |
||||
|
Web Debt as per credit score settlement |
$ |
625 |
$ |
867 |
||||
|
Adjusted EBITDA (trailing 12 months) |
$ |
607 |
$ |
540 |
||||
|
Changes required as per credit score settlement |
(63 |
) |
(118 |
) |
||||
|
Web Debt to Adjusted EBITDA Leverage Ratio as per credit score settlement |
1.1 |
2.1 |
||||||
|
1 A money stability of $125 million is utilized in accordance with the utmost permitted ($150 million) underneath the credit score settlement (earlier most permitted was $100 million); precise money stability as of December 31, 2022 and December 31, 2021 was $125 million and $115 million, respectively. |
Commercial 13
Article content material
About TELUS Worldwide
TELUS Worldwide (NYSE & TSX: TIXT) designs, builds and delivers next-generation digital options to boost the client expertise (CX) for world and disruptive manufacturers. The corporate’s companies assist the complete lifecycle of its purchasers’ digital transformation journeys, enabling them to extra shortly embrace next-generation digital applied sciences to ship higher enterprise outcomes. TELUS Worldwide’s built-in options span digital technique, innovation, consulting and design, IT lifecycle together with managed options, clever automation and end-to-end AI knowledge options together with pc imaginative and prescient capabilities, in addition to omnichannel CX and belief and security options together with content material moderation. Fueling all phases of firm development, TELUS Worldwide companions with manufacturers throughout strategic trade verticals, together with tech and video games, communications and media, eCommerce and fintech, banking, monetary companies and insurance coverage, healthcare, and journey and hospitality.
TELUS Worldwide’s distinctive caring tradition promotes range and inclusivity by means of its insurance policies, workforce member useful resource teams and workshops, and equal employment alternative hiring practices throughout the areas the place it operates. Since 2007, the corporate has positively impacted the lives of greater than 1.2 million residents all over the world, constructing stronger communities and serving to these in want by means of large-scale volunteer occasions and charitable giving. 5 TELUS Worldwide Group Boards have supplied $5.1 million in funding to grassroots charitable organizations since 2011. Be taught extra at: telusinternational.com.
_________________________
1 Income development on a relentless forex foundation and Adjusted Diluted EPS are non-GAAP ratios, whereas Adjusted EBITDA is a non-GAAP monetary measure. See the Non-GAAP part of this information launch.
2 Adjusted Web Earnings and Free Money Circulation are non-GAAP monetary measures, whereas Adjusted EBITDA Margin is a non-GAAP ratio. See the Non-GAAP part of this information launch.
View supply model on businesswire.com: https://www.businesswire.com/information/residence/20230209005302/en/
Contacts
TELUS Worldwide Investor Relations
Jason Mayr
(604) 695-3455
ir@telusinternational.com
TELUS Worldwide Media Relations
Ali Wilson
(604) 328-7093
Ali.Wilson@telusinternational.com
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