When you look at the market share gains that you talked about in wireless, Tony, what’s the path? How much more what’s the market potential for you there to keep gaining market share and wireless, and who are you taking the share from in your view? Thank you.
Glenn Brandt : Thank you, Maher. I’ll start with your question on the growth rates in wireless. If I remove the impact of the prior year credits, our pro forma service revenue and EBITDA growth, both would’ve been up 9%. And in cable, if — that’s also within cable factoring in the prior year credits as well, the pro forma service revenue growth would’ve been down 3% and the EBITDA growth would’ve been up 8%. That split obviously reflects the largest part of the, the cost synergies going through cable. Some go through our corporate offices, most of them are going through the cable operations.
Tony Staffieri : In terms of the second part of your question in synergies as we execute through those, mayor. Starts first and foremost, and I’ve said this in the past, we are extremely pleased with the set of assets and in particular the team that has come together with Shaw, excuse me, in terms of the talent, the commitment, and as I said in my comments, the tenacity of this team and desire to do the right thing for customers, it’s just phenomenal. And so, as we come together, we’ve been focused on a few messages that I’ll leave with you. One is let’s keep it simple for the customer. Let’s keep it simple for us. We have a very clear focus on the things that are going to matter most, and we try not to overload our execution agenda and stay focused on outcomes.
And what you see is that coming together in both the west and the east. And so, we’re really pleased with the way that’s come through. And as I look to our performance in this fourth quarter now that we’re midway through we continue to see good continued momentum on the synergy execution. In terms of the question on the West and where we’re getting market share from. I would say a couple of things. We’re very laser focused on the brands, and as I said on the earlier question, we very much focus on a market by market and segment by segment basis to ensure we’ve got the right value proposition and the way we carry that through in our channels. In terms of where it comes from, I would say it’s coming from first and foremost, the growth in the market, and then secondarily in terms of which competitors are being impacted.
I would say it’s probably over to them to talk about it now that you’ve seen all their results. And so, it comes from a number of different areas. We’re less fussed about where it’s coming from and more focused on what’s our relative share performance in total and for each market.
Maher Yaghi: Great. Thank you, very much.
Paul Carpino: Next question, Ariel.
Operator: Our next question comes from Tim Casey of BMO. Please go ahead.
Tim Casey: Thanks. Two for me. Glenn, just revisiting the notion of keeping your EBITDA guidance unchanged, but the progress you’ve made on synergy targets and run rates there. Once again, just are you being conservative about the macro environment or Black Friday promotions? Just curious why you wouldn’t bump EBITDA guidance up a bit for Q4 given the progress you’ve made. And second on the synergy progress. Do you still have any heavy lifting to do in terms of consolidating billing systems and customer support systems? I know there was a lot of work with Oracle that had to be done there. Just curious if that’s behind you or if that’s still on the come. Thanks.
Glenn Brandt: Sure. Thank you, Tim. On the first one, you can appreciate when we set our guidance, we set a range around expectations for the different categories that go into it. The same is true of synergy. I can be conservative and I can also be optimistic when I set those ranges. And so, I assure you that if you look at the dollars, we had telegraphed that or guided that we would achieve $200 million of cost synergies in year. I’m now guiding over $360 million. It’s a significant acceleration and significant progress on a timeline to get to those. But in the consolidated hole where we’re running a business that’s now essentially at $8.5 billion to $9 billion of EBITDA, a $100 million of progress. It’s one in our input range or variables that we use to go into the guidance.
And two, relative to the $9 billion, it’s a fairly small change. And so, it doesn’t cause me to want to bump the EBITDA guidance range. That still applies. We did tighten it. When we came out earlier this year, we tightened the range for the EBITDA growth. We will be in that tighter range and nothing more really to say on that. On your question around the billing or other platforms we have. That project is particularly our enterprise resource planning or ERP program, platform that is underway in terms of consolidating across the two companies. That is progressing well. It is on plan, or on schedule. We have had a couple of modules that we have released. We have a couple more still to come, as we move into and through 2024. And in fact, that will roll into very early 2025 potentially to complete.
And that’s really reflecting the fact that, it will either end just before or just after, a holiday season next year and you don’t do anything with ERP or systems, while you are entering into that key period. And so, on plan with those. Pleased with progress so far. We had an important release just over the past couple of weeks in terms of our financial systems and what have you, it is gone well. And so, I am pleased with the progress there.
Paul Carpino: Next question, Arya?
Operator: Our next question comes from Aravinda Galappatthige of Canaccord. Please go ahead.
Aravinda Galappatthige: Good morning. Thanks for taking my questions and congrats on the quarter for me as well. A question on wireless and then a clarification. On Wireless, obviously very strong loading. We know that historically Rogers is sort of, being quite dominant in terms of new Canadians on immigration. With the focus in that area, even greater than it was at an industry level than in the past, can you maybe talk to how that domains or that higher share has sort of sustained, over the last several quarters when immigration numbers have been going up and driving the volumes? And then secondly, a clarification for Glenn. Thanks for the organic numbers. I just want to clarify the cable EBITDA growth of 8%. That obviously includes most the 140 in synergies.
It does kind of back out to perhaps a high single-digit decline in Rogers cable organically. I know you don’t get too deep into that. But I just wanted to understand if there was anything there that needs to be highlighted. Thanks.
Tony Staffieri: Aravinda, on the first part of the question, the new to candidate category continues to be strong, as I have said earlier on the call. Our performance and dominant market share in that segment continues to be strong as well. And that’s across the country, as you look to those numbers. So, we are pleased with the performance there. I am not going to get into the tactics that we use to get there for competitive reasons. But, overall, pleased on pacing of it and our relative performance in that category.
Glenn Brandt: And then Aravinda on the organic growth within cable, I think, we’ve said consistently that cable is a work in progress in, in terms of turning around the decline in revenue. And we are on that, and that will obviously help lift, obviously stronger growth in EBITDA as we are successful in turning that around. You’re right, a significant part of that 8% is the impact of the cost synergies. That’s a strength of our business though. That’s now embedded in our business. We’ll continue to grow on that as well as continuing to grow as we turn around our revenue. I haven’t done the math in terms of whether or not, if I pull out this and pull out that, would it be up or down. The simple truth is we’ve done some heavy lifting in removing those costs permanently, removing those costs, and you see, notwithstanding what has been a 3% decline in revenue organically, we have had a very substantial 8% growth in EBITDA as we turn revenue around, that’s going to be a pretty powerful business case.
And I’m looking forward to that.
