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  • Panel/Roundtable: The IT Architecture Challenge - A Tale of Two Companies

    Back to News 17 septembre 2014 Panel/Roundtable: The IT Architecture Challenge - A Tale of Two Companies (en anglais seulement) Ajouter à mon agenda Retour aux événements Événements

  • Open Mic: Sponsorship and Municipalities Today — Revenue for Tomorrow!

    Back to Events June 4, 2016 Open Mic: Sponsorship and Municipalities Today — Revenue for Tomorrow! Add to my Calendar Back to Events Events

  • Financial

    Back to News Invalid Date Financiers Ajouter à mon agenda Retour aux événements Événements

  • Release of Q3 2018 Financial and Operational Results

    Back to Events November 8, 2018 Release of Q3 2018 Financial and Operational Results Add to my Calendar Management Discussion and Analysis (162.1 KB) Supplemental Disclosure (1.4 MB) Financial Statements (122.1 KB) Webcast of the Conference Call Back to Events Events

  • Opération de restructuration du capital

    Communiqués de presse PDF - 128,2 Kio Restructuration du capital July 23, 2012 PDF - 96,6 Kio Poste de la circulaire de sollicitation de procurations July 23, 2012 PDF - 100,6 Kio Rappel aux actionnaires de voter en faveur de la restructuration du capital July 23, 2012 PDF - 36,5 Kio Amendement de la résolution relative à l’arrangement avec les créanciers July 23, 2012 PDF - 54,1 Kio Annonce des candidats au nouveau conseil d’administration July 23, 2012 PDF - 42,7 Kio Retrait de l’amendement de la résolution des créanciers relative à l’arrangement July 23, 2012 PDF - 38,8 Kio Modification du projet de restructuration du capital July 23, 2012 PDF - 32,5 Kio Approbation de la restructuration du capital July 23, 2012 PDF - 33,7 Kio Approbation conditionnelle de la TSX July 23, 2012 PDF - 35,5 Kio Calendrier de la restructuration du capital July 23, 2012 PDF - 32,4 Kio Obtention de une ordonnance de sauvegarde July 23, 2012 PDF - 32,9 Kio Précisions concernant l’ordonnance de sauvegarde July 23, 2012 PDF - 40,8 Kio Règlement avec les porteurs de débentures subordonnées July 23, 2012 PDF - 38,5 Kio Règlement avec ses prêteurs July 23, 2012 PDF - 33,0 Kio Approbation définitive de la Cour July 23, 2012 PDF - 18,9 Kio Yellow Média réalise la restructuration de son capital July 23, 2012 Documents PDF - 1,9 Mio Support Agreement (en anglais) PDF - 67,0 Kio Notice of Meeting Debtholders (en anglais) PDF - 64,8 Kio Notice of Meeting Shareholders (en anglais) PDF - 5,7 Mio Circulaire de sollicitation de procurations de la direction PDF - 304,5 Kio Lettre et résolution amendée relative à l’arrangement avec les créanciers PDF - 141,5 Kio Amended And Restated Plan Of Arrangement (en anglais) PDF - 1,0 Mio Trust Indenture Regarding the Senior Secured Notes (en anglais) PDF - 1,1 Mio Trust Indenture Regarding the Senior Subordinated Exchangeable Debentures (en anglais) PDF - 487,8 Kio Warrant Indenture (en anglais) PDF - 142,3 Kio Restructuration du Capital - Estimation du produit de disposition pour fins fiscales canadiennes Opération de restructuration du capital

  • Actualités Pages Jaunes - Pages Jaunes Canada

    Dernières nouvelles November 10, 2022 Yellow Pages Limited Reports Strong Third Quarter 2022 Financial and Operating Results and Declares a Cash Dividend(1) Pages Jaunes Limitée présente ses résultats financiers et d’exploitation pour le quatrième trimestre et l’exercice complet de 2023 et annonce une augmentation du dividende trimestriel en trésorerie1 November 10, 2022 Yellow Pages Limited Reports Strong Third Quarter 2022 Financial and Operating Results and Declares a Cash Dividend(1) Pages Jaunes Limitée annonce la nomination de Treena Cooper à son conseil d’administration November 10, 2022 Yellow Pages Limited Reports Strong Third Quarter 2022 Financial and Operating Results and Declares a Cash Dividend(1) Pages Jaunes Limitée conclut l'arrangement Voir toutes les nouvelles Nouvelles Requêtes médias Pour toute demande de renseignements de la part des médias, communiquer avec l'équipe des communications corporatives: media@pj.ca Galerie d'images Pour les logos, photos et plus encore, consultez notre galerie d'images. Consultez la galerie d'images Prochain événement ​ Résultats financiers et opérationnels du 4e trimestre de 2023 Voir tous les événements Ce que nous faisons pour les particuliers et les entreprises Nous facilitons les interactions d’affaires entre les entreprises canadiennes et leurs clients potentiels. Nous le faisons en créant des solutions de marketing et de médias numériques adaptées aux réalités locales et conçues avec le souci de satisfaire ces deux clientèles. Nos propriétés Nos services

  • Yellow Pages Limited Reports Strong Fourth Quarter and Full Year 2021 Financial and Operating Results and Declares a Cash Dividend1

    Press Releases Back to News Back to News Print Back to News Print Montreal (Quebec), February 10, 2022 — Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, released its operating and financial results today for the quarter and year ended December 31, 2021. “We are very pleased with our fourth quarter and full year results, which further reflect our steady march toward revenue stability,” said David A. Eckert, President and CEO of Yellow Pages Limited. Eckert commented on the key developments: More progress toward revenue stability. “For the fifth consecutive quarter since COVID-19 hit, and the tenth of the last twelve quarters overall, we report a favorable ‘bending of the revenue curve’ in Q4, with a better rate of change in revenue than reported for the previous quarter.” Continued favorable trends in bookings. “The trends in our bookings continue to be quite strong, as we continue to approach revenue stability.” Concrete investments in revenue initiatives. “We continue to make progress on executing on our programs to expand our tele-sales force and to add to our strong product portfolio, including two key strategic partnerships announced earlier today.” Strong quarterly earnings. “Our Adjusted EBITDA2 for the quarter and full year was a very strong 35.5% of revenue, despite our focus on and investments in revenue initiatives.” Ever-growing cash balance. “Our steadily strong cash generation has grown cash on hand to approximately $130 million as of the end of January.” Pension plan funding on track. “Consistent with our previously announced deficit-reduction plan, in 2021 alone we made $4.0 million of voluntary incremental payments toward our Defined Benefit Pension Plan’s wind-up deficit.” Quarterly dividend declared. “Our Board has declared a dividend of $0.15 per common share, to be paid on March 15, 2022 to shareholders of record as of February 25, 2022.” Continuing common stock NCIB. “Under our current NCIB program commenced August 10, 2021, at the end of the year the Company had purchased 251,376 common shares for cash of $3.6 million.” (1) The dividend will be designated as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. (2) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 5 of this document for more details. Fourth Quarter 2021 Results Total revenues decreased 10.5% year-over-year and amounted to $68.6 million for the three-month period ended December 31, 2021, an improvement from the decrease of 11.7% reported last quarter. Adjusted EBITDA less CAPEX totalled $23.1 million and the EBITDA less CAPEX margin was 33.7%. Net earnings increased to $38.7 million, or to $1.46 per diluted share. Financial Results for the Fourth Quarter of 2021 Total revenues for the fourth quarter ended December 31, 2021 decreased by 10.5% year-over-year and amounted to $68.6 million as compared to $76.7 million for the same period last year. The decrease for the quarter ended December 31, 2021 is due to the decline of our higher margin YP digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. Adjusted EBITDA1 decreased to $24.4 million or 35.5% of revenues in the fourth quarter ended December 31, 2021, relative to $27.6 million or 36.0% of revenues for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin in the three-month period ended December 31, 2021 is the result of revenue pressures, investments in our tele-sales force capacity, and lower wage subsidies received, partially offset by efficiencies from optimization in cost of sales and reductions in other operating costs including reductions in our workforce and associated employee expenses. Revenue pressures, coupled with increased headcount in our salesforce partially offset by continued optimization, will create some pressure on margin in upcoming quarters. Adjusted EBITDA less CAPEX decreased by $3.1 million to $23.1 million during the fourth quarter of 2021, compared to $26.2 million during the same period last year. The decrease in Adjusted EBITDA less CAPEX for the three-month period ended December 31, 2021 is mainly due to lower Adjusted EBITDA partially offset by lower capital expenditures. Net earnings for the three-month ended December 31, 2021 amounted to $38.7 million as compared to net earnings of $16.8 million for the same period last year due to higher recognition of previously unrecognized tax attributes and temporary differences. Earnings before taxes decreased from $19.2 million for the fourth quarter of 2020 to $15.9 million for the three-month period ended December 31, 2021, explained principally by lower Adjusted EBITDA and the increase in restructuring and other charges, partially offset by decreases in depreciation and amortization and financial charges. (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 5 of this document for more details. Cash flows from operating activities decreased by $6.6 million to $28.8 million for the three-month period ended December 31, 2021 from $35.4 million last year. The decrease is mainly due to lower Adjusted EBITDA1 of $3.3 million, increased funding of post-employment benefit plans of $1.7 million and a decrease of $6.5 million from the change in operating assets and liabilities, partially offset by lower interest paid of $4.4 million and lower payments for restructuring and other charges of$0.3 million. Financial Results for the Year Ended December 31, 2021 Total revenues for the year ended December 31, 2021 decreased by 13.8% to $287.6 million, as compared to $333.5 million for the same period last year. The decrease in revenues is mainly due to the decline of our higher margin digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. For the year ended December 31, 2021 Adjusted EBITDA decreased by $27.4 million or 21.2% to $102.0 million or 35.5% of revenues, compared to $129.4 million or 38.8% of revenues for the same period last year. The decrease in Adjusted EBITDA is the result of revenue pressures, investments in our tele-sales force capacity, as well as the impact of the Company’s share-price on cash settled stock-based compensation expense and lower wage subsidies received, partially offset by efficiencies from optimization in cost of sales and reductions in other operating costs including reductions in our workforce and associated employee expenses as well the Company’s office space footprint and other spending across the Company. For the year ended December 31, 2021 Adjusted EBITDA less CAPEX1 decreased by $26.9 million or 21.8% to $96.9 million, compared to $123.9 million for the same period last year. The decrease is mainly driven by the decrease in Adjusted EBITDA, partially offset by lower capital expenditures driven by lower spend in software development year-over-year. Net earnings increased to $70.6 million for the year ended December 31, 2021 compared to net earnings of $60.3 million, for the same period last year due to higher recognition of previously unrecognized tax attributes and temporary differences. Earnings before income taxes decreased from $78.7 million to $59.9 million for the year ended December 31, 2021, explained principally by lower Adjusted EBITDA and the loss on early repayment of debt, partially offset by decreases in depreciation and amortization, restructuring and other charges, and financial charges. Cash flows from operating activities decreased by $22.4 million to $104.6 million for the year ended December 31, 2021 from $127.0 million last year. The decrease is mainly due to lower Adjusted EBITDA of $27.4 million and increased funding of post-employment benefit plans of $4.2 million, partially offset by lower payments for restructuring and other charges of $4.1 million, and lower interest paid of $4.2 million. As at December 31, 2021, the Company had $123.6 million of cash. (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 5 of this document for more details. Conference Call & Webcast Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on February 10, 2022 to discuss fourth quarter 2021 results. The call may be accessed by dialing 416-695-6725 within the Toronto area, or 1-866-696-5910 outside of Toronto, Passcode 3151105#. Please be prepared to join the conference at least 5 minutes prior to the conference start time. The call will be simultaneously webcast on the Company’s website at: https://corporate.yp.ca/en/investors/financial-reports . The conference call will be archived in the Investors section of the site at: https://corporate.yp.ca/en/investors/financial-events-presentations . About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Caution Concerning Forward-Looking Statements This press release contains forward-looking statements about the objectives, strategies, financial conditions and results of operations and businesses of YP (including, without limitation, payment of a cash dividend per share per quarter to its common shareholders; the number of Shares purchased by the Company during the NCIB; and the intention to limit purchases to $16.0 million).These statements are forward-looking as they are based on our current expectations, as at February 9, 2022, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 5 of our February 9, 2022 Management’s Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason. Contacts: Investors Franco Sciannamblo Senior Vice-President and Chief Financial Officer investors@yp.ca Media Treena Cooper Senior Vice President, Secretary and General Counsel communications@yp.ca Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA margin In order to provide a better understanding of the results, the Company uses the terms Adjusted EBITDA and Adjusted EBITDA margin. Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA margin is defined as the percentage of Adjusted EBITDA to revenues. Adjusted EBITDA and Adjusted EBITDA margin are not performance measures defined under IFRS and are not considered an alternative to income from operations or net earnings in the context of measuring Yellow Pages performance. Adjusted EBITDA and Adjusted EBITDA margin do not have a standardized meaning under IFRS and are therefore not likely to be comparable to similar measures used by other publicly traded companies. Adjusted EBITDA and Adjusted EBITDA margin should not be used as exclusive measures of cash flow since they do not account for the impact of working capital changes, income taxes, interest payments, pension funding, capital expenditures, business acquisitions, debt principal reductions and other sources and uses of cash, which are disclosed on page 22 of our February 9, 2022 MD&A. Management uses Adjusted EBITDA and Adjusted EBITDA margin to evaluate the performance of its business as it reflects its ongoing profitability. Management believes that certain investors and analysts use Adjusted EBITDA and Adjusted EBITDA margin to measure a company’s ability to service debt and to meet other payment obligations or as common measurement to value companies in the media and marketing solutions industry as well as to evaluate the performance of a business. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin The Company also uses Adjusted EBITDA less CAPEX, which is defined as Adjusted EBITDA, as defined above, less CAPEX which we define as additions to intangible assets and additions to property and equipment as reported in the Investing Activities section of the Company’s consolidated statements of cash flows. Adjusted EBITDA less CAPEX margin is defined as the percentage of Adjusted EBITDA less CAPEX to revenues. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, are unlikely to be comparable to similar measures presented by other publicly traded companies. We use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of our business as it reflects cash generated from business activities. We believe that certain investors and analysts use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of businesses in our industry. The most comparable IFRS financial measure to Adjusted EBITDA less Capex is Income from operations before depreciation and amortization and restructuring and other charges (defined above as Adjusted EBITDA) as shown in Yellow Pages Limited’s consolidated statements of income. Refer to pages 9 and 17 of the February 9, 2022 MD&A for a reconciliation of Adjusted EBITDA less CAPEX. Yellow Pages Limited Reports Strong Fourth Quarter and Full Year 2021 Financial and Operating Results and Declares a Cash Dividend1

  • FAQ - Financial investors - Yellow Pages Canada

    1. How do I purchase shares in Yellow Pages Limited? Please contact a licensed stock broker to purchase shares in the Company. ​ 2. What are the Company's publicly traded securities and what are their tickers? The Company’s securities are traded on the Toronto Stock Exchange (TSX) under the following ticker symbols: Y - Common Shares Y.WT - Warrants 3. How do I obtain a copy of Yellow Pages’ Annual Report or other financial documents? The Company’s Annual Report and other financial documents can be found here . You can also consult www.sedar.com for these and other public documents. ​ 4. When is the next Annual Meeting of Shareholders? The 2022 Annual Meeting of Shareholders will be held on May 11, 2022. ​ 5. Who is part of Yellow Pages Limited's management team and Board of Directors? Please visit the Management Team page and Board of Directors page for detailed information. ​ 6. How do I contact Yellow Pages’ Transfer Agent The Company’s transfer agent is TSX Trust Company They can be contacted at: ​ 2001 Robert-Bourassa Street, Suite 1600 Montreal, Québec H3A 2A6 1 (800) 387-0825 shareholderinquiries@tmx.com ​ 7. Where can I get more information about the Recapitalization transaction? A recapitalization transaction was completed in December 2012 to reduce the Company’s outstanding debt and improve its maturity profile. ​ Please click here for more information FAQ

  • Yellow Pages Limited Reports Continued Strong Financial and Operating Results in First Quarter 2020 and Announces a Cash Dividend(1) Payment of $0.11 per Common Share.

    Press Releases Back to News Back to News Print Back to News Print Montreal (Quebec), May 13, 2020 — Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, released its operating and financial results today for the quarter ended March 31, 2020. The Company also announced that its Board of Directors has adopted a dividend policy of paying a quarterly cash dividend1 to its common shareholders of $0.11 per share. “We are very pleased with our first quarter results. Our Adjusted EBITDA less CAPEX margin2 continued to be strong, at 35.5%. Supported by appropriate levels of investment in our business, our various initiatives to “bend the revenue curve” produced an improved year-on-year rate of revenue change in our YP segment for the fifth consecutive quarter. And as of quarter-end, we had a cash balance of $70.9 million and had driven down our net debt excluding lease obligations2 to only $28.3 million. “Beginning late in the first quarter, the covid-19 pandemic has created great anxiety across Canada and around the world, and we do expect a financial impact from it in future quarters, as we have experienced some decline in revenue “bookings.” However, we are well-positioned to weather the storm, as we expect more businesses will be looking for ways to successfully serve their local communities and we have been adapting quickly to the situation. “We entered this period of uncertainty with high cash generation, much lowered debt, and a hefty cash balance. And every member of our team, all across the country and in every capacity, has continued working steadily to serve our customers, despite the obvious obstacles. As a result, we are announcing a first quarter regular dividend of $0.11 per common share, to be paid on June 15, 2020, and we are reaffirming our intention to fully repay our remaining debt, our exchangeable debentures, on or shortly after May 31, 2021, at par. Also, we intend to double our current monthly contributions to the company’s Defined Benefit Pension Plan, beginning in June 2020 and extending through next year,” said David A. Eckert, President and CEO of Yellow Pages Limited. Following the Corporation’s annual meeting of shareholders, the Board of Directors will formally declare a cash dividend1 of $0.11 per common share, payable on June 15, 2020 to shareholders of record as at May 29, 2020. First Quarter of 2020 Results Adjusted EBITDA less CAPEX2 totaled $31.3 million and the EBITDA less CAPEX margin2 was 35.5%. Net earnings remained relatively stable at $12.4 million, or $0.44 per diluted share. Cash at the end of the period stood at $70.9 million. (1) A portion of the dividends paid will not be eligible dividends as they come from earnings of acquired companies that were taxed at lower rates. Therefore, $0.07 per share of the current dividend will not be designated as an eligible dividend while the balance of $0.04 per share will be designated as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. (2) Adjusted EBITDA is equal to Income from operations before depreciation and amortization, and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin and Net debt excluding lease obligations are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 4 of this document for more details. Segmented Information The Company’s operations are categorized into two reportable segments: YP and other. The YP segment provides small and medium-sized businesses across Canada digital and traditional marketing solutions, including online and mobile priority placement on Yellow Pages’ owned and operated media, content syndication, search engine solutions, website fulfillment, social media campaign management and digital display advertising, video production and print advertising. This segment also includes the 411.ca digital directory service helping users find and connect with people and local businesses. The Other segment includes YP Dine digital property until its sale on April 30, 2019 and the Mediative division until its liquidation on January 31, 2019. An overview of each segment and the performance of each segment for the three-month periods ended March 31, 2020 and 2019 can be found in the May 12, 2020 Management’s Discussion and Analysis. Financial Results for the First Quarter of 2020 Revenues for the YP segment for the three-month period ended March 31, 2020 totaled $88.3 million compared to $103.7 million for the same period last year. The $15.4 million or 14.8% decrease for the three-month period ended March 31, 2020 is mainly due to the decline of our higher margin YP digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. Adjusted EBITDA for the YP segment for the three-month period ended March 31, 2020 totaled $32.6 million compared to $45.1 million for the same period last year. The Adjusted EBITDA margin for the YP segment for the first quarter of 2020 decreased to 36.9% compared to 43.5% for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margins were mainly due to the revenue pressures, investments in customer care and in new customer acquisition and an increased bad debt provision related to the COVID-19 pandemic. These impacts were only partly offset by reductions in both our cost of sales and other operating costs including reductions in our workforce and associated employee expenses, reductions in the Company’s office space footprint and other spending reductions across the segment. The first quarter of 2019 was also favorably impacted by an adjustment to the variable compensation expense due to employee attrition and previous year performances. Total revenues for the first quarter ended March 31, 2020 of $88.3 million decreased by 15.7% as compared to $104.8 million for the same period last year. The decline in total revenue for the three-month period ended March 31, 2020 was due mainly to lower digital and print revenues in the YP segment. Adjusted EBITDA decreased by 28.2% to $32.6 million in the first quarter ended March 31, 2020, relative to $45.4 million for the same period last year. The Company’s Adjusted EBITDA margin for the first quarter of 2020 was 36.9% compared to 43.3% for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin was almost entirely due to the YP segment. Adjusted EBITDA less CAPEX decreased by $11.4 million to $31.3 million during the first quarter of 2020, compared to $42.8 million during the same period last year. The decrease in Adjusted EBITDA less CAPEX for the three-month period ended March 31, 2020 was mainly due to lower Adjusted EBITDA partially offset by lower capital expenditures due to decreased spending in software development in the YP segment. Net earnings for the three-month period ended March 31, 2020, remained relatively stable at $12.4 million as compared to net earnings of $12.7 million for the same period last year, as lower Adjusted EBITDA was essentially offset by lower depreciation and amortization and lower financial charges. Cash flows from operating activities decreased by $6.4 million to $27.1 million from $33.5 million for the three-month period ended March 31, 2019 mainly due to lower Adjusted EBITDA of$12.8 million partially offset by lower payments for restructuring and other charges of $3.8 million and lower interest paid of $0.5 million. Cash flows also benefited by a $1.3 million improvement in the change in operating assets and liabilities. As at March 31, 2020, the Company had $157.7 million of total debt, compared to $156.4 million as at December 31, 2019. As at March 31, 2020, the Company had $28.3 million of net debt excluding lease obligations1, compared to $54.1 million as at December 31, 2019. (1) Net debt excluding lease obligations is a non-GAAP financial measure and does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 4 of this document for more details including reconciliations to the most comparable IFRS financial measure. Conference Call & Webcast Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on May 13, 2020 to discuss first quarter 2020 results. The call may be accessed by dialing 416-340-2216 within the Toronto area, or 1-800-273-9672 outside of Toronto. Please be prepared to join the conference at least 5 minutes prior to the conference start time. The call will be simultaneously webcast on the Company’s website at: https://corporate.yp.ca/en/investors/financial-reports . The conference call will be archived in the Investors section of the site at: https://corporate.yp.ca/en/investors/financial-events-presentations . About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Caution Concerning Forward-Looking Statements This press release contains forward-looking statements about the objectives, strategies, financial conditions, including potential full repayment of the Company’s remaining exchangeable debentures on or shortly after May 31, 2021, at par; to its common shareholders, a cash dividend payment of $0.11 per share per quarter; and results of operations and businesses of the Company. These statements are forward-looking as they are based on our current expectations, as at May 12, 2020, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 5 of our May 12, 2020 Management’s Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason. Contacts: Investors Franco Sciannamblo Senior Vice-President and Chief Financial Officer investors@yp.ca Media John Ireland Senior Vice-President, Organizational Effectiveness communications@yp.ca Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA margin In order to provide a better understanding of the results, the Company uses the terms Adjusted EBITDA and Adjusted EBITDA margin. Adjusted EBITDA is equal to Income from operations before depreciation and amortization, and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s interim condensed consolidated statements of income. Adjusted EBITDA margin is defined as the percentage of Adjusted EBITDA to revenues. Adjusted EBITDA and Adjusted EBITDA margin are not performance measures defined under IFRS and are not considered an alternative to income from operations or net earnings in the context of measuring Yellow Pages performance. Adjusted EBITDA and Adjusted EBITDA margin do not have a standardized meaning under IFRS and are therefore not likely to be comparable to similar measures used by other publicly traded companies. Management uses Adjusted EBITDA and Adjusted EBITDA margin to evaluate the performance of its business as it reflects its ongoing profitability. Management believes that certain investors and analysts use Adjusted EBITDA and Adjusted EBITDA margin to measure a company’s ability to service debt and to meet other payment obligations or as common measurement to value companies in the media and marketing solutions industry as well as to evaluate the performance of a business. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin The Company also uses Adjusted EBITDA less CAPEX, which is defined as Adjusted EBITDA, as defined above, less CAPEX which we define as additions to intangible assets and additions to property and equipment as reported in the Investing Activities section of the Company’s interim condensed consolidated statements of cash flows. Adjusted EBITDA less CAPEX margin is defined as the percentage of Adjusted EBITDA less CAPEX to revenues. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-IFRS financial measures and do not have any standardized meaning under IFRS. Therefore, are unlikely to be comparable to similar measures presented by other publicly traded companies. We use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of our business as it reflects cash generated from business activities. We believe that certain investors and analysts use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of businesses in our industry. The most comparable IFRS financial measure to Adjusted EBITDA less Capex is Income from operations before depreciation and amortization, and restructuring and other charges (defined above as Adjusted EBITDA) as shown in Yellow Pages Limited’s interim condensed consolidated statements of income. Refer to page 5 and page 10 of the May 12, 2020 MD&A for a reconciliation of CAPEX and Adjusted EBITDA less CAPEX, respectively. Net debt excluding lease obligations Net debt excluding lease obligations is a non-GAAP financial measure and does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other publicly traded companies. Net debt excluding lease obligations is comprised of Exchangeable debentures less Cash as presented in our consolidated statements of financial position. We use net debt as indicator of the Company's ability to cover financial obligations and reduce debt and associated interest charge as it represents the amount of debt excluding lease obligations that is not covered by available cash. We believe that certain investors and analysts use net debt to determine a company’s financial leverage. The most comparable IFRS financial measure is total debt, as presented in the capital disclosures note on page 49 in our Audited consolidated financial statements for the years ended 2019 and 2018. The table below provides a reconciliation of total debt to net debt excluding lease obligations. Yellow Pages Limited Reports Continued Strong Financial and Operating Results in First Quarter 2020 and Announces a Cash Dividend(1) Payment of $0.11 per Common Share.

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  • Yellow Pages Limited Files Management Proxy Circular for Special Meeting of Shareholders and Announces Receipt of Interim Order

    Press Releases Back to News Back to News Print Back to News Print Montreal (Quebec), August 29, 2022 — Yellow Pages Limited (TSX: Y) (the “ Company ”), a leading Canadian digital media and marketing company, today announced that it has filed and is in the process of mailing the management proxy circular (the “ Circular ”) and related materials for the special meeting (the “ Meeting ”) of the Company’s shareholders (the “ Shareholders ”) to approve the previously announced arrangement under the Business Corporation Act (British Columbia) (the “ Arrangement ”). Under the Arrangement, the Company will repurchase from Shareholders pro rata an aggregate of 7,949,125 common shares at a purchase price of $12.58 per share, which represents the volume weighted average price for the five consecutive trading days ending the trading day immediately prior to August 5, 2022, all as more particularly described in the Circular. Under the Arrangement, the Company will also advance the previously announced voluntary incremental cash contributions to the Company’s defined benefit pension plan’s (the “ Pension Plan ”) wind-up deficit by an amount of $24 million during the year ending December 31, 2022, bringing 2022 cash payments to the Pension Plan’s wind-up deficit to $30 million by the end of the year. The Arrangement is subject to the approval of at least 66 2/3% of the votes cast by Shareholders at the Meeting. Shareholders holding in excess of 78% of the outstanding Shares have agreed with the Company to vote in favor of the Arrangement. The Arrangement is also subject to the receipt of the approval of the Supreme Court of British Columbia (the “ Court ”). Board Recommendation The board of directors of the Company, after receiving legal and financial advice, unanimously determined the Arrangement is in the best interests of the Company and fair to the Shareholders, and recommends the Shareholders vote FOR the Arrangement. Interim Order The Company also announced today that the Court has issued an interim order in connection with the Arrangement authorizing various matters, including the holding of the Meeting and the mailing of the Circular. Record Date The Company filed a notice of meeting and record date with applicable securities regulatory authorities on August 18, 2022, pursuant to which it advised the Shareholders that the Meeting would be held virtually on September 23, 2022 and set the close of business on August 18, 2022 as the record date (the “ Record Date ”) for the Meeting. Meeting and Circular The Meeting is scheduled to be held as a virtual-only meeting conducted via live audio webcast online at www.virtualshareholdermeeting.com/YP2022SM on September 23, 2022 at 10:00 a.m. (Eastern time) . Shareholders, regardless of geographic location, will have an equal opportunity to participate in the Meeting online. Shareholders will not be able to attend the Meeting in person. Shareholders of record as of the close of business on the Record Date are entitled to receive notice of and vote at the Meeting. Shareholders are urged to vote well before the proxy deadline of 10:00 a.m. (Eastern time) on September 21, 2022. The Circular provides important information on the Arrangement and related matters, including the background to the Arrangement, voting procedures and how to virtually attend the Meeting. Shareholders are urged to read the Circular and its schedules carefully and in their entirety. The Circular is being mailed to Shareholders in compliance with applicable laws and the Interim Order. The Circular is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.corporate.yp.ca . Shareholder Questions and Assistance Shareholders who have questions regarding the Meeting or require assistance with voting may contact Broadridge Investor Communications Corporation, the Company’s proxy solicitation agent, via email at proxy.request@broadridge.com . About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Caution Concerning Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of applicable securities laws. These statements are forward-looking as they are based on our current expectations, as at August 26, 2022, about our business, and on various estimates and assumptions that are current, reasonable and complete. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 5 of our August 4, 2022 Management’s Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason. Contacts: Investors Franco Sciannamblo Senior Vice-President and Chief Financial Officer investors@yp.ca Media Treena Cooper Senior Vice President, Secretary and General Counsel communications@yp.ca Yellow Pages Limited Files Management Proxy Circular for Special Meeting of Shareholders and Announces Receipt of Interim Order

  • Gold Sponsor - Canada Olympic Excellence Day - Yellow Pages

    Gold Sponsor Live Concert More Gold Sponsor Live Concert Canada Olympic Excellence Day On the eve of the Opening Ceremonies of the Pan American Games in Toronto, the Canadian Olympic Committee will open the doors of the Canadian Olympic House right in the heart of downtown Montreal. Fueled by the shared passion of Canadians from coast to coast that was on full display to the world at Montreal 1976, Calgary 1988 and Vancouver 2010, Canada Olympic Excellence Day will stand as a symbol of Canada’s growing role on the global Olympic landscape. This historic day of celebration will be comprised of five major components, including the World Sport Luncheon with International Olympic Committee president Thomas Bach as keynote speaker; a first glance at the interactive and immersive Olympic Experience, the opening of the high-tech Lausanne Room, spectacular artistic and musical performances in the hall of the newly-minted Canadian Olympic House, and the climax of this extraordinary day: the unveiling of the Olympic Rings high atop the Canadian Olympic House.

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