TELUS Corporation today released its unaudited results for the first quarter of 2025. Effective with our first quarter 2025 results, we have evolved our reporting structure, and introduced a TELUS health reportable segment (TELUS Health). Our TELUS Health results were previously included with the TELUS technology solutions segment (TTech) results. The new TELUS Health segment will now be reported alongside our existing TTech segment, which now excludes TELUS Health, as well as our TELUS digital experience segment (TELUS Digital). Consolidated operating revenues and other income increased by 3 per cent over the same period a year ago to $5.1 billion. This growth was driven by higher service revenues in our TTech and TELUS Health reportable segments, as well as higher external revenues in our TELUS Digital segment. See First Quarter 2025 Operating Highlights within this news release for a discussion on TTech, TELUS Health and TELUS Digital results.
"In the first quarter of 2025, our team's unwavering commitment to operational excellence and cost efficiency has empowered TELUS to deliver another quarter of industry-leading customer growth and strong financial performance," said Darren Entwistle, President and CEO. "These results were achieved within a dynamic operating environment, demonstrating the resiliency of our business and strength of our leading portfolio of services. Our mobile and fixed customer growth underscores the strong demand for TELUS' bundled services and leading broadband networks. Notably, we achieved total mobile and fixed customer growth of 218,000, driven by mobile phone and connected device additions of 168,000, alongside fixed customer additions of 50,000. This performance highlights the strength of our bundled product offerings across Mobile and Home, powered by our leading PureFibre and wireless broadband networks. The dedication and passion of our team in delivering customer service excellence contributed to continued strong loyalty across our key product lines, once again this quarter. Notably, postpaid mobile phone churn was 0.84 per cent, as we begin the twelfth consecutive year below the one per cent level."
"Our technology-centric growth businesses continue to demonstrate impressive momentum. TELUS Health achieved revenue and Adjusted EBITDA growth of 12 and 30 per cent, respectively, and drove a 7 per cent year-over-year increase in global lives covered to 76.5 million. This was fueled by strategic investments, product enhancements, expanding sales channels, and effective cost management through technology optimization and synergy optimization - underpinned by a deeply rooted dedication to putting customers first. We are excited to maintain and build on this momentum throughout 2025 and beyond. Notably, since acquiring LifeWorks, we have realized $376 million in combined annualized synergies - $306 million from cost efficiencies and $70 million from successful cross-selling strategies. We remain on track to meet our goal of $427 million by the end of 2025. In May, TELUS acquired Workplace Options, a leading global provider of integrated employee wellbeing solutions, with 88 million employees served across 200 countries and territories. Together, we will offer the most comprehensive suite of health and wellbeing solutions globally, powered by innovative technology and delivered with unmatched service excellence. Furthermore, this acquisition will be made in partnership with a leading private equity investor within the healthcare vertical, with deep expertise across the healthcare landscape who will be a value-added partner, supporting our efforts to accelerate growth. Moreover, within TELUS Agriculture & Consumer Goods, our team demonstrated strong performance, with a 20 per cent revenue increase supported by enhanced profitability and margin improvements. The results we are achieving in these businesses reflect our dedicated efforts to deliver outstanding customer experiences, maximizing shareholder value and driving our initiatives in social capitalism."
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