BCE Inc. (BCE:CA) Presents at UBS Global Media and Communications Conference 2025 Transcript

Batya Levi
UBS Investment Bank, Research Division

Michael, I thought that we would maybe start with kind of setting up your main — talking about your main priorities as we head into next year?

Mirko Bibic
CEO, President & Director

Great. Thank you. So actually, there’s nothing — there are no secrets here in terms of our priorities. We had an Investor Day in October, and we laid out what we plan to do over the next 3 years from ’26 all the way through ’28. And if I can summarize it in a nutshell, clearly, we spent 2025 really focused on strengthening the balance sheet. So strengthen the balance sheet that came with a dividend reset. We’re really hyper focused on deleveraging and driving sustainable free cash flow growth and optimizing the cost of capital. So broadly speaking, from a capital markets perspective, the goal is to deliver total shareholder return. At the same time, as we kind of strengthen the balance sheet with all those elements, we have basically redesigned the growth platform for BCE for the years ahead.

So a completely different company with a new momentum and a lot of energy, and we’re hyper focused on 4 key priorities, which is putting the customer first, but which everyone does say, but