Business description: BCE Inc.

BCE Inc. is a Canada-based communications company, providing advanced Bell broadband Internet, wireless, television (TV), media and business communications services. It operates through two segments: Bell Communication and Technology Services (Bell CTS) and Bell Media. The Bell CTS segment provides a range of communication products and services to consumers, businesses and government customers across Canada; wireless products and services, and wireline products and services. The Bell CTS segment also includes its wholesale business and national consumer electronics retailer. Its brands include Bell, Bell MTS, Bell Aliant, Virgin Plus, Fibe, Lucky Mobile and Northwestel. The Bell Media segment is a content creation company with assets in TV, radio and OOH, monetized through traditional and digital platforms. Its products and services include varied and extensive array of video content to broadcast distributors across Canada, advertising, Crave and TSN, TSN+, and RDS streaming services.

Number of employees: 38,683

Sales by Activity: BCE Inc.

Fiscal Period: December 2021 (CAD) 2022 (CAD) 2023 (CAD) 2024 (CAD) 2025 (CAD)

Bell CTS - Canada

- - 21.93B 21.62B 21.29B

Bell CTS - U.S.

- - - - 392M

Bell Wireline

12.18B 12.15B - - -

Bell Media

3.04B 3.25B 3.12B 3.15B 3.15B

Inter-Segment Eliminations

-764M -816M -370M -361M -367M

Bell Wireless

9B 9.59B - - -

Geographical breakdown of sales: BCE Inc.

Fiscal Period: December 2021 (CAD) 2022 (CAD) 2023 (CAD) 2024 (CAD) 2025 (CAD)

Canada

23.45B 24.17B 24.67B 24.41B 24.47B

Executive Committee: BCE Inc.

Manager TitleAgeSince
Chief Executive Officer 58 04/01/2020
Director of Finance/CFO - 31/08/2023
Chief Tech/Sci/R&D Officer - 30/04/2025
Chief Tech/Sci/R&D Officer 62 -
Chief Tech/Sci/R&D Officer - 30/04/2025

Composition of the Board of Directors: BCE Inc.

Director TitleAgeSince
Director/Board Member 58 04/01/2020
Chairman 69 27/04/2016
Director/Board Member 62 31/07/2015
Director/Board Member 71 27/04/2016
Director/Board Member 70 27/04/2016
Director/Board Member 68 25/04/2017
Director/Board Member 70 06/05/2020
Director/Board Member 68 03/11/2020
Director/Board Member 74 -
Director/Board Member 52 28/04/2021

Shareholders: BCE Inc.

NameEquities%Valuation
Royal Trust Corporation of Canada
6.15 %
57,348,908 6.15 % 1 509 M $
Fidelity Investments Canada ULC
4.03 %
37,579,448 4.03 % 989 M $
BMO Bank NA (Investment Management)
3.77 %
35,151,606 3.77 % 925 M $
The Caisse de dépôt et placement du Québec
3.658 %
34,107,306 3.658 % 897 M $
CIBC World Markets, Inc.
2.554 %
23,812,924 2.554 % 627 M $
NameEquities%Valuation
Portico Investment Management
0.002201 %
152 0.002201 % 2 297 $
NameEquities%Valuation
I. G. Investment Management Ltd.
0.0255 %
2,565 0.0255 % 28 215 $
Portico Investment Management
0.024 %
2,414 0.024 % 26 554 $
NameEquities%Valuation
Canso Investment Counsel Ltd.
4.116 %
172,200 4.116 % 3 M $
NameEquities%Valuation
Fulcra Asset Management, Inc.
0.7255 %
17,000 0.7255 % 274 108 $
NameEquities%Valuation
Canso Investment Counsel Ltd.
4.482 %
83,900 4.482 % 1 M $
NameEquities%Valuation
Canso Investment Counsel Ltd.
10.19 %
151,700 10.19 % 2 M $
I. G. Investment Management Ltd.
0.758 %
11,288 0.758 % 164 466 $
NameEquities%Valuation
Fulcra Asset Management, Inc.
0.5244 %
100,000 0.5244 % 1 M $
NameEquities%Valuation
Canso Investment Counsel Ltd.
1.186 %
124,000 1.186 % 2 M $
Fulcra Asset Management, Inc.
0.8771 %
91,700 0.8771 % 2 M $
Slater Asset Management, Inc.
0.3797 %
39,700 0.3797 % 673 590 $
NameEquities%Valuation
Canso Investment Counsel Ltd.
9.082 %
992,894 9.082 % 15 M $
NameEquities%Valuation
Canso Investment Counsel Ltd.
16.52 %
623,500 16.52 % 10 M $
NameEquities%Valuation
I. G. Investment Management Ltd.
0.0646 %
5,609 0.0646 % 87 439 $
Portico Investment Management
0.00593 %
515 0.00593 % 8 028 $

Company details: BCE Inc.

BCE, Inc.

1 Carrefour Alexander-Graham-Bell

H3E 3B3, Verdun

+514 786 8424

http://www.bce.ca
address BCE Inc.(BCE)

Group companies: BCE Inc.

NameCategory and Sector
The Bell Telephone Company of Canada or Bell Canada
The Bell Telephone Company of Canada or Bell Canada

Other Integrated Telecommunications Services

Change 5d. change 1-year change 3-years change Capi.($)
+0.94%+0.74%+5.10%-40.80% 24.13B
-0.12%+1.46%-4.48%+21.23% 225B
-0.80%+1.03%+16.98%+39.34% 215B
-1.08%+1.45%-2.17%+51.69% 183B
+1.03%+2.08%+6.43%-1.83% 79.58B
+0.98%+2.79%-13.45%+18.94% 77.83B
0.00%-2.84%+43.28%+6.03% 69.62B
+2.00%+2.00%+51.18%+110.29% 64.87B
-0.52%+0.05%-4.05%+12.74% 56.14B
+0.23%+2.54%+48.56%+63.81% 53.59B
Average +0.35%+0.90%+14.74%+28.14% 104.85B
Weighted average by Cap. +0.05%+1.17%+10.06%+33.12%
Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
35.42CAD
Average target price
37.65CAD
Spread / Average Target
+6.29%

Quarterly revenue - Rate of surprise

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