MONTREAL , Aug. 6, 2025 /CNW/ – 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 six-months ended June 30, 2025.
“We are pleased with our second quarter results, which reflect our continuing progress toward revenue stability, and a strong cash balance,” said Sherilyn King, President and CEO of Yellow Pages Limited.
King commented on the key developments:
- Progress toward revenue stability. “For the sixth consecutive quarter, we report a favorable ‘bending of the revenue curve’ in Q2, as our rate of change in revenue was better than the change reported for the previous quarter.”
- Progress on revenue initiatives. “We are encouraged by the continued momentum in the core metrics driving our revenue performance. These include the continued deceleration of the customer count decline rate, supported by new customer acquisitions, stable renewal rates and strong average spend per customer. We believe these fundamentals position us well for continued success in the medium and long term.”
- Good quarterly earnings. “Our Adjusted EBITDA2 for the quarter was 20.7% of revenue, even with our continued investments in revenue initiatives.”
- Strong cash balance. “Our cash on hand at the end of July stood at approximately $49 million.”
- Group annuity contracts purchase. “As previously announced, on May 21, 2025, the Company completed the purchase of group annuity contracts for $210 million from BMO Life Assurance Company. This transaction aligns with the plan to derisk the Defined Benefit Pension Plan as we annuitized approximately 50% of the pension liability.”
- Pension plan contribution. “Also announced on May 21, 2025, the Company intends to voluntarily contribute an additional $4.0 million to the remaining defined benefit pension plan by the end of June 2026, subject to review by its Board of Directors. On August 5, 2025, our Board approved that $2.0 million of the announced voluntary cash contributions be completed by the end of 2025.”
- Quarterly dividend declared. “Our Board has once again declared a dividend of $0.25 per common share, to be paid on September 15, 2025 to shareholders of record as of August 25, 2025.”
Financial Highlights
|
(In thousands of Canadian dollars, except percentage information and per share information) |
|
Yellow Pages Limited |
For the three-month periods |
For the six-month periods |
||
|
2025 |
2024 |
2025 |
2024 |
|
|
Revenues |
$51,682 |
$55,838 |
$102,490 |
$110,809 |
|
Adjusted EBITDA2 |
$10,684 |
$14,770 |
$22,569 |
$30,067 |
|
Adjusted EBITDA margin2 |
20.7 % |
26.5 % |
22.0 % |
27.1 % |
|
Income before income taxes |
$2,187 |
$10,421 |
$8,848 |
$21,790 |
|
Net income |
$1,543 |
$7,626 |
$6,506 |
$16,021 |
|
Basic income per share |
$0.11 |
$0.56 |
$0.48 |
$1.18 |
|
Diluted income per share |
$0.11 |
$0.55 |
$0.46 |
$1.16 |
|
CAPEX2 |
$316 |
$699 |
$789 |
$1,685 |
|
Adjusted EBITDA less CAPEX2 |
$10,368 |
$14,071 |
$21,780 |
$28,382 |
|
Adjusted EBITDA less CAPEX margin2 |
20.1 % |
25.2 % |
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