6. 2007 Outlook
Each year, we provide guidance on key performance indicators such as growth in Revenues, EBITDA and Cash Distributions per unit, and we measure our performance against these targets on a quarterly basis.
The financial performance delivered by the Directories segment this year was a result of the synergies created within the combined business following the successful integration of the operations of the Western and Eastern regions. We expect the fiscal year 2007 to be another strong year for the Directories segment with the integration of our newly acquired business unit in Manitoba and the focus on revenue growth. In our Directories segment, our guidance remains therefore at 4% to 5% for Adjusted Revenues and 4% to 7% for Adjusted EBITDA, adjusted for comparability purposes by taking into account the results of MTS for the corresponding periods in 2006.
Our focus for 2007 in the Vertical Media segment will consist in laying the technological and operational foundations for future growth. As such we will invest in technology and harmonize business processes to maximize operating efficiencies. Initiatives will also be undertaken for the combined Vertical Media business to benefit from potential revenue synergies. Based on these factors and adjusted for comparability purposes, the Vertical Media segment will also maintain targeted growth for Revenues of 6% to 7% and of 7% to 9% for EBITDA.
Consequently, our objective of growing the Fund's unit distribution by 6% will remain in 2007, which has already been achieved with the increase in distributions announced on November 21, 2006 and effective January 15, 2007.
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