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For the fiscal year ended August 31, 2016:

• Revenue increased by $132.8 million, or 6.5%, to reach $2.18 billion mainly driven by growth of 29.7% in the American broadband services segment with stable revenue in the Canadian broadband services, partly offset by a decrease of 3.9% in the Business ICT services segments.
  
  

  • American broadband services revenue increased primarily as a result of the acquisition in the fourth quarter of fiscal 2015 of the Connecticut system, the organic growth through PSU progression in the residential and commercial sectors, rates increases and the favorable foreign exchange rates compared to the prior year;
    
    

  • Canadian broadband services revenue was stable as a result of rate increases implemented in February 2016 and the continued growth in the business sector, partly offset by a decline in video and telephony customers at August 31, 2016 compared to August 31, 2015 due to the competitive environment and service category maturity combined with the impact of the implementation of flexible video packages launched on March 1, 2016;
    
    

  • Business ICT services revenue decreased due to competitive pricing pressures on the hosting and network connectivity services as well as a transition out of unprofitable services, partly offset by favorable foreign exchange rates compared to the prior year;
    
    

• Adjusted EBITDA increased by $53.0 million, or 5.7%, to reach $983.4 million compared to $930.5 million in fiscal 2015 mainly as a result of the following:
  
  

  • Higher adjusted EBITDA in the American broadband services resulting from organic growth, favorable foreign exchange rates compared to the the prior year and the acquisition of the Connecticut system;
    
    

  • Higher adjusted EBITDA in the Canadian broadband services resulting from stable revenue combined with a decline in operating expenses partly resulting from favorable non-recurring items of $3 million in fiscal 2016 compared to unfavorable non-recurring items of $3.4 million in fiscal 2015; partly offset by
    
    

  • Lower adjusted EBITDA in the Business ICT services resulting from a decrease in revenue, partly offset by cost reduction initiatives as a result of the operational, financial and organizational restructuring completed in fiscal 2016 combined with favorable foreign exchange rates compared to the prior year;
    
    

• Operating margin slightly decreased to 45.2% from 45.5% for the year ended August 31, 2016, with operating margins of 52.0% in the Canadian broadband services, 42.7% in the American broadband services and 32.6% in the Business ICT services segments. The decrease resulted mainly from higher management fees paid to Cogeco and a lower margin in the Business ICT services segment, partly offset by a stable margin in the American broadband services segment and a higher margin in the Canadian broadband services segment;
  
  

• Loss for the year amounted to $189.6 million, or $3.87 per share, compared to a profit of $257.8 million, or $5.27 per share in fiscal 2015, a decrease of $447.4 million, resulting mainly from the non-cash pre-tax impairment of goodwill and intangible assets of $450 million which occurred in the Business ICT services segment. The remaining variation is explained by the improvement of adjusted EBITDA and the decreases in integration, restructuring and acquisition costs, financial expense and income taxes, partly offset by the increases in depreciation and amortization and in claims and litigations as a result of an expense in the current year compared to a gain in the prior year;
  
  

• Free cash flow decreased by $5.0 million, or 1.7%, to reach $281.0 million compared to $286.0 million for the prior year resulting from the increases in the acquisitions of property, plant and equipment, intangible and other assets and in claims and litigations as a result of an expense in the current year compared to a gain in the prior year, partly offset by the improvement of adjusted EBITDA and the decrease in financial expense;
  
  

• Cash flow from operating activities reached $745.2 million compared to $688.9 million, an increase of $56.2 million, or 8.2%, compared to fiscal 2015 mainly due to the improvement in adjusted EBITDA combined with an increase in changes in non-cash operating activities primarily due to changes in working capital and a decrease in integration, restructuring and acquisition costs, partly offset by the increases in income taxes paid, claims and litigations as a result of an expense in the current year compared to a gain in the prior year and financial expense paid; and
  
  

• Dividends payments in fiscal 2016 totaled $1.56 per share compared to $1.40 per share in fiscal 2015.

"As we close our fiscal year 2016, we are generally satisfied with our results for the fourth quarter," declared Louis Audet, President and Chief Executive Officer of Cogeco Communications Inc. "Our Canadian broadband services subsidiary, Cogeco Connexion, continues to perform well in a highly competitive and evolving market. Results for the quarter are in line with expectations, demonstrating our capacity to grow, while maintaining rigorous cost control discipline."

"Our American broadband services subsidiary, Atlantic Broadband, has continued to report steady growth, including an increase in primary service units, confirming strong organic growth, and the solid performance of our newly acquired Connecticut system, which recently launched its Gigabit Internet service," added M. Audet.

"At Cogeco Peer 1, our Business ICT services subsidiary, we have been working to grow our client-base through an enhanced go- to-market strategy, always supported by exceptional customer service," stated Mr. Audet. "With a solid new senior leadership team now in place, we have been focused on bringing more relevant solutions to market, redefining our product portfolio - collaborating with partners such as Microsoft Azure - to ensure we continue to meet and exceed the needs of our customers. We expect these strategies will lead to growth in future years."

Fiscal 2017 Financial Guidelines

Cogeco Communications revised its fiscal 2017 preliminary financial guidelines issued on July 6, 2016, to take into consideration the recent decision of the CRTC, on October 6, 2016, to reduce significantly on an interim basis the third party Internet access ("TPIA") capacity rates as well as the changing industry dynamics and the increasingly competitive environment in certain operating segments. Please consult the "Fiscal 2017 financial guidelines" section of the Corporation's 2016 Annual Report for further details.

FINANCIAL HIGHLIGHTS

ABOUT COGECO COMMUNICATIONS

Cogeco Communications Inc. is a communications corporation. It is the 8th largest cable operator in North America, operating in Canada under the Cogeco Connexion name in Québec and Ontario, and in the United States under the Atlantic Broadband name in western Pennsylvania, south Florida, Maryland/Delaware, South Carolina and eastern Connecticut. Cogeco Communications Inc. provides its residential and business customers with video, Internet and telephony services through its two-way broadband fibre networks. Through its subsidiary Cogeco Peer 1, Cogeco Communications Inc. provides its business customers with a suite of information technology services (colocation, network connectivity, hosting, cloud and managed services), through its 17 data centres, extensive FastFiber Network® and more than 50 points of presence in North America and Europe. Cogeco Communications Inc.'s subordinate voting shares are listed on the Toronto Stock Exchange (CCA.TO).