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Connecting Your World 2016/17 ANNUAL REPORT Your Life IBC OBC OFC IFC Your Life. Connected. Your Contact Us ™ Website: http://www.sasktel.com/ By Phone: 1-800-SASKTEL (727-5835) By Email: https://support.sasktel.com/app/contact_us Twitter: @SaskTel Facebook: https://www.facebook.com/SaskTel Our Locations Connecting Your World Your Connecting SaskTel Head Office SecurTek Head Office Saskatoon Regina 70 – 1st Avenue N. 410 – 22nd Street East Connecting 2121 Saskatchewan Drive Yorkton SK S3N 1J6 Saskatoon SK S7K 5T6 Regina SK S4P 3Y2 SaskTel District Offices Swift Current Your World SaskTel International Moose Jaw 1831 North Service Road West 1825 Lorne Street, 3rd Floor 55 Ominica Street West Swift Current SK S9H 3T2 Regina SK Canada S4P 3N1 Moose Jaw SK S6H 1W8 P: Toll Free in US and Canada: Weyburn Your Life. Connected.™ 2016/17 ANNUAL REPORT 1.877.242.9950 North Battleford 1711 East Avenue E: [email protected] 1201 – 100th Street Weyburn SK S4H 2Y7 North Battleford SK S9A 3Z9 Direct West Corporation Yorkton Your Life. Connected.™ 355 Longman Crescent Prince Albert 210 York Road West Regina SK S4N 6G3 Second Floor Yorkton SK S3N 3N4 P: (306) 777-0333 47 – 12th Street East Toll Free: 1-800-667-8201 Prince Albert SK S6V 1B3 F: (306) 352-6514 2016/17 ANNUAL2016/17 REPORT View this Annual Report at https://www.sasktel.com/about-us/company-info/ financial-reports For more information about SaskTel, our initiatives and operations, please contact Corporate Communications at http://www.sasktel.com/about-us/news/ For SaskTel, connecting people to their world goes beyond just building and maintaining networks that To obtain additional copies of the 2016/17 SaskTel Annual Report, please call 1-306-777-4897. keep us all connected. It also means connecting with our customers in their world. IBC OBC OFC IFC Your Life. Connected. Your Contact Us ™ Website: http://www.sasktel.com/ By Phone: 1-800-SASKTEL (727-5835) By Email: https://support.sasktel.com/app/contact_us Twitter: @SaskTel Facebook: https://www.facebook.com/SaskTel Our Locations Connecting Your World Your Connecting SaskTel Head Office SecurTek Head Office Saskatoon Regina 70 – 1st Avenue N. 410 – 22nd Street East Connecting 2121 Saskatchewan Drive Yorkton SK S3N 1J6 Saskatoon SK S7K 5T6 Regina SK S4P 3Y2 SaskTel District Offices Swift Current Your World SaskTel International Moose Jaw 1831 North Service Road West 1825 Lorne Street, 3rd Floor 55 Ominica Street West Swift Current SK S9H 3T2 Regina SK Canada S4P 3N1 Moose Jaw SK S6H 1W8 P: Toll Free in US and Canada: Weyburn Your Life. Connected.™ 2016/17 ANNUAL REPORT 1.877.242.9950 North Battleford 1711 East Avenue E: [email protected] 1201 – 100th Street Weyburn SK S4H 2Y7 North Battleford SK S9A 3Z9 Direct West Corporation Yorkton Your Life. Connected.™ 355 Longman Crescent Prince Albert 210 York Road West Regina SK S4N 6G3 Second Floor Yorkton SK S3N 3N4 P: (306) 777-0333 47 – 12th Street East Toll Free: 1-800-667-8201 Prince Albert SK S6V 1B3 F: (306) 352-6514 2016/17 ANNUAL2016/17 REPORT View this Annual Report at https://www.sasktel.com/about-us/company-info/ financial-reports For more information about SaskTel, our initiatives and operations, please contact Corporate Communications at http://www.sasktel.com/about-us/news/ For SaskTel, connecting people to their world goes beyond just building and maintaining networks that To obtain additional copies of the 2016/17 SaskTel Annual Report, please call 1-306-777-4897. keep us all connected. It also means connecting with our customers in their world. Letter of Transmittal Regina, Saskatchewan June 30, 2017 Her Honour The Honourable Vaughn Solomon Schofield, S.O.M., S.V.M., Lieutenant Governor of Saskatchewan Dear Lieutenant Governor: I have the honour to submit herewith the annual report of SaskTel for the year ending March 31, 2017, including the financial statements, duly certified by auditors for the Corporation, and in the form approved by the Treasury Board, all in accordance with The Saskatchewan Telecommunications Holding Corporation Act. Respectfully submitted, Honourable Dustin Duncan Minister Responsible for Saskatchewan Telecommunications SASKTEL 2016/17 ANNUAL REPORT SASKTEL 2016/17 ANNUAL | 1 Contents Letter of Transmittal 3 Financial Highlights 4 President’s Message 6 Sharing Our Stories 6 Connections You Can Count On 7 Connecting the Atlantic, Pacific and Arctic Oceans 8 Connecting With Our Customers 9 Making a Big Connection in Moose Jaw 10 The Prairie Connection 11 CSR Highlights 15 Management’s Discussion and Analysis 43 Consolidated Financial Statements and Notes 43 Managements Responsibility for Financial Statements 44 Report of Management on Internal Control Over Financial Reporting 45 Independent Auditor’s Report 46 Consolidated Financial Statements 49 Notes to Consolidated Financial Statements 77 Board of Directors 81 SaskTel Executive 85 Corporate Governance Statement IBC Contact Us TABLE OF CONTENTS TABLE 2 | Financial Highlights FINANCIALS CUSTOMER NETWORK Net Income ($ Millions) 2016/17 Internet Accesses 2016/17 Capital Expenditures ($ Millions) 150 Dial Up 2.8% DSL 65.4% Wireline – Fibre 27.3% Wireline – Copper 1.8% Wireline – Other 21.7% $2.4 $134.8 $7.8 $1.2 $1.5 125 $6.0 Fibre 29.9% $12.4 $105.9 $104.2 Other 5.3% 100 Wireless 275,381 15.0% Product $316.1M Accesses Development fusion 1.9% 75 2.4% ce Buildings & IT Infrastructure come Equipment 11.0% 15.5% 2016/17 2015/16 Services Expense Revenue Goods and Net Finan Net Salaries, Amortization Other In ages & Benefits Depreciation & 2016/17 Budget W Data Usage & Network Revenues ($ Millions) Technology Accesses Fibre to the Premises (Homes) maxTV, Internet, 3,000 700,000 250,000 Wireless50 40.8% 100 150Data 26.4% 2,500 600,000 200,000 500,000 2,000 400,000 150,000 BYTE 1,500 300,000 TERA Equipment 1,000 100,000 45.2% 4.7% 200,000 Long $1,277.2M 34.5% 500 Distance 3.3% 100,000 50,000 Advertising, 25.3% Security and 0 0 14.1% 11.3% Software 5.4% Dec-10 Dec-12 Dec-14 Dec-16 0 Local & Enhanced 16.8% Other 2.6% Data Usage – LH 2012 2013 2014 2015/16 2016/17 ACCESSES ■ CDMA ■ 4G ■ LTE Accesses – RH ■ Passed ■ Connected 160000 160000 Return on Equity (Percentage) SaskTel selectWI-FI Access Points Accesses by Technology (Millions) 140000 5,000 128000 *2014 10.5% 2012 1.35 120000 4,000 REPORT SASKTEL 2016/17 ANNUAL 100000 2015/16 14.0% 960002013 1.34 3,000 80000 2016/17 15.4% 2014 1.33 2,000 64000 60000 2016/17 Budget 12.5% 2015/16 1.30 1,000 40000 32000 2016/17 1.29 2017/18 Budget 13.6% 0 20000 Dec-13 Dec-14 Dec-15 Mar-17 ■ Copper ■ Fibre ■ Wireless *12 month fiscal year ending December 31. 0 0 | 3 Number of Accesses 0.0 13.5 27.0 0.0 13.5 27.0 President’s Message With any business, the vision that drives the company tends to also define the company’s success. This makes setting a vision critical to not only a company’s success, but also to building the organization and culture that are its foundation. I am proud to say that what defines all of us at SaskTel Rural high speed Internet coverage also received a is our vision of being the best ICT company when it boost through the expansion of our fusion interNET comes to connecting people to their world. Although service with nine additional towers coming onstream we first established this goal a few years ago, we’ve in 2016. fusion is now available on 68 towers across incorporated it into everything we do. And, over the province and serves 714 communities. Along the past year, we’ve seen this philosophy reap both with expanded coverage, SaskTel deployed upgrades financial and cultural rewards. to our wireless network that doubled the download and upload speeds available through the service. Our There have certainly been challenges in 2016/17. customers continued to demand faster wireless and Communications technologies continue to rapidly we are committed to that objective. evolve, and this evolution is driving changes in the way consumers choose to interact with the world. In the cities, SaskTel continued the deployment of our infiNET ™ fibre optic network. Over the past five However, despite these challenges, 2016/17 has been years, we have passed 213,351 homes and businesses an extremely successful year. The path we set out with fibre and connected 96,387 to our network. We on transforming our business has allowed us to rise completed our $30.0 million investment to bring to the test. Our industry remains highly competitive, infiNET to all Moose Jaw residences, making it the but we are more focused then ever on taking this largest fibre-connected community in Western Canada. company where we need to go to guarantee its continued success. BUILDING BETTER TOOLS FOR BUSINESS NETWORKING YOU TO YOUR WORLD As we continue our transformation into a full-service ICT company, 2016/17 saw us focus on the emerging Over the past year, SaskTel has kept its promise to needs of businesses to have their data hosted locally. invest over $300 million in capital spending here In January 2017, we began operations at our new in Saskatchewan. Saskatoon Tier III data centre. The 24,000-square-foot The investment that made the largest impact in facility features 9,650 square feet of data hall space 2016/17, was the completion of our 4G LTE upgrade that is expandable to 30,000 square feet. program. Between June 2016 and March 2017, In February 2017, we announced the purchase of SaskTel spent $11.8 million expanding the reach an existing Tier III data centre east of Regina.
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