Delivering Growth Through Collaboration and Innovation: SaskTel Reports Net Income of $82.2 Million in 2024-25

CANADA, June 24 - Released on June 23, 2025

Today, SaskTel released both its Annual Report and Sustainability Report for the 2024-25 fiscal year, highlighting its financial results and initiatives and best practices driving sustainability, equity and prosperity for the province of Saskatchewan. Financial results for the 2024-25 fiscal year include net income of $82.2 million and operating revenues of $1,364.9 million. These results show SaskTel's commitment to delivering competitive services and enhancing its world-class networks to enrich everyday life in Saskatchewan.

"Our government and SaskTel's commitment to delivering for Saskatchewan remains as strong as ever," Minister Responsible for SaskTel Jeremy Harrison said. "The significant investments made by SaskTel in 2024-25 will ensure that more families, businesses, and communities across the province have access to the advanced communications networks and technologies that they need to succeed and grow in a developing smart economy." 

"In a time of evolution and change in the telecommunications industry, one thing that remains constant is SaskTel's commitment to empowering Saskatchewan people, organizations and communities to reach their full potential," SaskTel President and Chief Executive Officer Charlene Gavel said. "Thanks to the substantial investments made in 2024-25, our ongoing progress toward bringing SaskTel's 5G and infiNET networks to more communities is already driving new economic activity and helping to ready our province for whatever comes next in the tech landscape."

SaskTel's revenue is composed primarily of wireless network services and equipment revenue (49.5 per cent), fixed broadband and data services (23.4 per cent), wireline communication services (10.6 per cent), and maxTV service (7.2 per cent).

Financial Highlights

SaskTel's financial measures focus on shareholder value, revenue and earnings generation and the efficient use of its capital investments. These measures provide insight into its current financial performance and contribute to its long-term financial stability. 

SaskTel declared dividends of $32.9 million to Crown Investments Corporation during the fiscal year ending March 31, 2025, while maintaining a debt ratio within industry standards. 

At the close of the fiscal year 2024-25, SaskTel's debt ratio increased to 56.5 per cent, an increase of 50 basis points from the previous year. The overall level of net debt increased $99.2 million, primarily to fund continued investment in its fibre and 5G networks through investment in property, plant and equipment and intangible assets.

Revenue for the fiscal year was $1,364.9 million, an increase of $16.4 million reflecting growth in key business segments including wireless network services and equipment, fixed broadband and data services, maxTV service and IT solutions services. The increase in wireless network services and equipment revenue reflects the growth in SaskTel's wireless retail subscriber base and increased wholesale revenues. Fixed broadband and data services revenue growth was driven by SaskTel's Rural Fibre Initiative, which continues to expand the company's fibre footprint resulting in increased customer connections. IT solutions services revenue growth reflects increased adoption of SaskTel's cybersecurity solutions, data centre offerings and managed IT services. 

SaskTel invested $398.5 million of capital in 2024-25 to bring SaskTel infiNET service to more homes and businesses and grow the reach of its 5G wireless network. These investments enhance the reliability and resiliency of SaskTel's networks and position Saskatchewan for success in the smart economy.

Wireless spending, including 5G, LTE, and Wi-Fi, accounted for $130.1 million of the $398.5 million total, while $108.5 million was invested in SaskTel's Fibre-to-the-X program (FTTx). These significant investments, along with the rest of the capital expenditures, have enhanced SaskTel's systems and networks, our provincial economy and will prepare Saskatchewan to thrive and succeed in a developing smart economy.

SaskTel's wireless network covers over 99 per cent of the population with more than 1,000 cell towers, over 700 of which are in rural parts of the province. As of March 31, 2025, SaskTel had converted more than 700 wireless sites to the 5G network, serving 88 per cent of the province's population with 5G. As this network evolves, it will support things such as the development of smart communities and technological innovations in agriculture, virtual health care and immersive education.

SaskTel's FTTx program continued to bring infiNET, SaskTel's fibre optic network, to homes and businesses across the province. infiNET delivers up to gigabit per second speeds, allowing customers to surf, stream and share more content faster than ever before. As of March 31, 2025, the network was available in 111 communities.

Further, SaskTel's Aurora Program was launched last summer following an announcement that the company had received funding from the Federal Government's Universal Broadband Fund. The program encompasses four significant projects to improve connectivity in Northern Saskatchewan and since the Aurora Program was launched, SaskTel has made significant progress in bringing fibre cabling through the Hanson Lake Road area (Highway 106).

Sustainability Highlights

In 2024-25, SaskTel also continued to make a social impact in our province through numerous sponsorships and partnerships as well as the generosity of SaskTel employees. SaskTel contributed $3,094,714 to 1,048 non-profit and charitable organizations, community associations, venues, events and partnerships in 260 communities throughout the province during the 2024-25 fiscal year. 

At a time when charities and non-profits are seeing growing demand for services, SaskTel's employees showed their dedication by making a positive difference in their communities through volunteer hours and donations. With nearly 3,700 members, including current and retired employees, SaskTel Pioneers contributed over 25,280 volunteer hours and $1,036,620 in donations to non-profit organizations. SaskTel TelCare, the employee-driven charitable donation program, donated nearly $190,000 to 47 charitable and non-profit organizations operating across Saskatchewan, a number which includes SaskTel's 50 per cent match.

Additional SaskTel social impact initiatives include:

Connecting with Community Challenge

Through the 2025 Connecting with Community Challenge, SaskTel employees, along with the SaskTel Pioneers raised $15,000 for the Saskatchewan Roughrider Foundation to help fund youth mental wellness programs.

The Connecting with Community Challenge worked in tandem with Pink Shirt Day and SaskTel Be Kind Online to encourage employees to perform acts of kindness, such as helping colleagues, volunteering, or supporting local causes. Each reported act of kindness counted as a $5 donation toward the Saskatchewan Roughrider Foundation.

SaskTel Phones for a Fresh Start

In partnership with the Ministry of SaskBuilds and Procurement, SaskTel Phones for a Fresh Start provided 341 cell phones and $8,000 worth of phone cards to the Provincial Association of Transition Houses and Services of Saskatchewan (PATHS) in 2024-25.

SaskTel Phones for a Fresh Start provides wireless phones and phone cards to PATHS member agencies to assist individuals fleeing domestic abuse as well as youth transitioning out of permanent or long-term care from the Ministry of Social Services. By collecting and recycling old wireless phones, the program aims to minimize Saskatchewan's environmental footprint while helping those in need. 

SaskTel's Annual Report and Sustainability Report provide comprehensive insights into the company's financial performance, strategic initiatives and commitment to sustainable practices. These reports not only highlight SaskTel's achievements and growth over the past year, but also underscore its dedication to transparency, accountability and long-term value creation for our stakeholders. By detailing our efforts in environmental stewardship, social responsibility and governance, we aim to foster trust and demonstrate our unwavering commitment to building a sustainable future for our community and beyond.

For more information, including the full Annual and Sustainability report, please visit: sasktel.com/about-us.

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Media Relations