News Column

Quebecor Inc. Reports Fourth Quarter and Full-Year 2012 Consolidated Results

Page 11 of 14

----------------------------------------------------------------------------                                                         Twelve months ended                                                           December 31, 2012--------------------------------------------------------------------------------------------------------------------------------------------------------                                                                     Leisure                                                                         and                              Telecommu-        News      Broad-      Enter-                               nications       Media     casting    tainment----------------------------------------------------------------------------Revenues                   $     2,635.1 $     960.0 $     461.1 $     292.5Employee costs                     365.1       345.3       152.3        55.3Purchase of goods and services                        1,045.0       499.6       270.7       224.1----------------------------------------------------------------------------Operating income(1)              1,225.0       115.1        38.1        13.1AmortizationFinancial expensesGain on valuation and translation of financial instrumentsRestructuring of operations, impairment of assets and other special itemsImpairment of goodwill and intangible assetsLoss on debt refinancing----------------------------------------------------------------------------Income before income taxes--------------------------------------------------------------------------------------------------------------------------------------------------------Additions to property, plant and equipment       $       669.6 $       6.5 $      22.1 $       6.3Additions to intangible assets                             78.3        11.9         3.3         3.6-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                 Twelve months ended                                                   December 31, 2012------------------------------------------------------------------------------------------------------------------------------------------                             Interactive                                 Techno-           Head                              logies and         office                                Communi-     and Inter-                                 cations       segments        Total---------------------------------------------------------------------Revenues                   $       145.5 $       (142.4) $   4,351.8Employee costs                      89.3           53.3      1,060.6Purchase of goods and services                           46.4         (198.2)     1,887.6---------------------------------------------------------------------Operating income(1)                  9.8            2.5      1,403.6Amortization                                                   600.3Financial expenses                                             334.6Gain on valuation and translation of financial instruments                                                  (197.5)Restructuring of operations, impairment of assets and other special items                                                          29.4Impairment of goodwill and intangible assets                                             201.5Loss on debt refinancing                                        67.7---------------------------------------------------------------------Income before income taxes                               $     367.6------------------------------------------------------------------------------------------------------------------------------------------Additions to property, plant and equipment       $         4.2 $          1.9  $     710.6Additions to intangible assets                                -           (2.2)        94.9------------------------------------------------------------------------------------------------------------------------------------------

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