Tbaytel Annual Report Released – $193 Million in Revenue

Thunder Bay Business News

Tbaytel President and CEO Dan Topatigh on supporting good ideas and innovation
Tbaytel President and CEO Dan Topatigh on supporting good ideas and innovation

THUNDER BAY – BUSINESS – Tbaytel is a growing force in Northwestern Ontario. The company held its annual general meeting on Monday, Apr. 29, 2019 at Thunder Bay City Hall and released Game Changing, the company’s 2018 report to the community.

The report highlights a number of Tbaytel’s key accomplishments from throughout 2018, as well as the company’s strategic direction and summarized financial information.

Tbaytel reported $193.3 million in revenue in 2018, as well as a contribution of $17.5 million through a fixed annual dividend payment to the City of Thunder Bay. Since the Tbaytel Municipal Service Board’s inception in 2004, Tbaytel has paid $278.5 million in dividends to its shareholder, which puts the company on pace for contributions of just under $300 million in 2019.

“In 2018 Tbaytel continued to respond to the changing needs of all of our customers, as well as to the communities and region we serve,” says Tbaytel Municipal Service Board chair Jack Jamieson. “Over $40 million in total capital investments were made in 2018, which helped to improve our wireless networks, develop additional infrastructure and support our fibre to the home and business initiatives while maintaining a return on investment that is among the best in the Canadian communication sector.”

In addition to wireless network enhancement projects to prepare for the evolution of future next-generation wireless technologies, Tbaytel also excelled at deploying advanced broadband solutions, both locally and regionally, with successful public WiFi projects and the unprecedented delivery of Tbayel Fibre to more homes and businesses.

Tbaytel continued living its promise to take care of the neighbourhood it serves by supporting people, events and initiatives that create a stronger, healthier and more vibrant northern Ontario. In 2018, Tbaytel contributed $662,734 to 156 different organizations or events in 16 different communities throughout its serving territory. This included several high-level, multi-year commitments with organizations like Confederation College, the Thunder Bay Art Gallery and the Thunder Bay Regional Health Sciences Foundation.

“Tbaytel’s commitment to our entire region remains stronger than ever and I am proud to share our 2018 community report, which demonstrates how Tbaytel is balancing valuable investments in community projects and initiatives that make a difference in the lives of people living in northern Ontario with investments in our business that make Tbaytel the preferred provider in our marketplace,” says Tbaytel president and CEO Dan Topatigh. “I would like to thank each and every Tbaytel employee for their continued dedication to ensuring our customers receive an exceptional experience throughout every level of our organization.”

To view or download Tbaytel’s full report, Game Changing: 2018 Report to the Community, please visit tbaytel.net/communityreport.