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YELLOW PAGES LIMITED REPORTS STRONG FOURTH QUARTER AND FULL YEAR 2022 FINANCIAL AND OPERATING RESULT

Montreal (Quebec), February 15, 2023 — 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, 2022.

“We are pleased with our fourth quarter and full year results which reflect sustained strong profitability and cash generation and more progress toward revenue stability,” said David A. Eckert, President and CEO of Yellow Pages Limited.

Eckert commented on the key developments:

Strong quarterly earnings. “Our Adjusted EBITDA2 for the quarter and full year was 32.5% and 36.0% of revenue, respectively, despite our continued, productive investments in revenue initiatives and evolving product mix.”


Cash to Shareholders and to Pension Plan.  “During the quarter, we completed the previously announced plan of arrangement, distributing $100.0 million to shareholders and $24.0 million of voluntary contributions to our Defined Benefit Pension Plan’s wind-up deficit, in addition to our previously announced $1.0 million of voluntary incremental payments toward our Defined Benefit Pension Plan’s wind-up deficit.”

Healthy cash balance. “Even after the disbursements to shareholders and the Pension Plan, our cash balance at the end of January was approximately $50 million.”


Quarterly dividend declared. “Our Board has declared a dividend of $0.15 per common share, to be paid on March 15, 2023 to shareholders of record as of February 24, 2023.”


For the ninth consecutive quarter since COVID-19 hit, and the fourteenth of the last sixteen quarters overall, we report a favorable ‘bending of the revenue curve’ in Q4 2022, with a better rate of change in revenue than reported for the previous quarter.”   

“We are pleased with our fourth quarter and full year results which reflect sustained strong profitability and cash generation and more progress toward revenue stability,” said David A. Eckert, President and CEO of Yellow Pages Limited.

Eckert commented on the key developments:

Strong quarterly earnings. “Our Adjusted EBITDA2 for the quarter and full year was 32.5% and 36.0% of revenue, respectively, despite our continued, productive investments in revenue initiatives and evolving product mix.”


Cash to Shareholders and to Pension Plan.  “During the quarter, we completed the previously announced plan of arrangement, distributing $100.0 million to shareholders and $24.0 million of voluntary contributions to our Defined Benefit Pension Plan’s wind-up deficit, in addition to our previously announced $1.0 million of voluntary incremental payments toward our Defined Benefit Pension Plan’s wind-up deficit.”

Healthy cash balance. “Even after the disbursements to shareholders and the Pension Plan, our cash balance at the end of January was approximately $50 million.”


Quarterly dividend declared. “Our Board has declared a dividend of $0.15 per common share, to be paid on March 15, 2023 to shareholders of record as of February 24, 2023.”


. “For the ninth consecutive quarter since COVID-19 hit, and the fourteenth of the last sixteen quarters overall, we report a favorable ‘bending of the revenue curve’ in Q4 2022, with a better rate of change in revenue than reported for the previous quarter.”  

To review the summary report please follow the link below;

 

 

 

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