- Q1 2025 revenue of $616 million, a decrease of $28 million, or 4%, over Q1 2024.
- Q1 2025 Adjusted EBITDA* of $34 million, representing an Adjusted EBITDA* margin of 6%, compared to $28 million and 4% in Q1 2024.
- Q1 2025 net income of $6 million or $0.26 per share compared with $0.4 million or $0.02 per share for the first quarter of 2024.
- Q1 2025 decrease in long-term debt, net of cash*, of $14 million.
- Q1 2025 decrease in net operating working capital* of $9 million.
LASALLE, QC, May 8, 2025 /CNW/ – GDI Integrated Facility Services Inc. (“GDI” or the “Company“) (TSX: GDI) is pleased to announce its financial results for the first quarter ended March 31, 2025.
For the first quarter of 2025:
- Revenue reached $616 million, a decrease of $28 million, or 4%, over the first quarter of 2024 mainly attributable to an organic decline of 7%, partially offset by growth from foreign currency translation.
- Adjusted EBITDA* amounted to $34 million, representing an Adjusted EBITDA* margin of 6% compared to $28 million and 4% in Q1 2024.
- Net income was $6 million or $0.26 per share compared to $0.4 million or $0.02 per share in Q1 2024.
- Long-term debt, net of cash* decreased by $14 million in the quarter.
- Net operating working capital* reduction of $9 million in the quarter.
For the first quarters of 2025 and 2024, the business segments performed as follows:
|
(in millions of Canadian dollars) |
Business Services Canada |
Business Services USA |
Technical Services(1) |
Corporate and Other(1) |
Consolidated |
|||||
|
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
|
|
Revenue |
147 |
145 |
217 |
225 |
246 |
260 |
6 |
14 |
616 |
644 |
|
Organic Growth (Decline) |
1 % |
3 % |
(15 %) |
10 % |
(5 %) |
(1 %) |
0 % |
0 % |
(7 %) |
3 % |
|
Adjusted EBITDA* (2) |
11 |
10 |
15 |
14 |
12 |
6 |
(4) |
(2) |
34 |
28 |
|
Adjusted EBITDA Margin* |
7 % |
7 % |
7 % |
6 % |
5 % |
2 % |
N/A |
N/A |
6 % |
4 % |
|
Note: |
The 2024 results were recast to reflect i) the transfer of the Integrated Facility Services business from Corporate and Other to Technical Services since January 1, 2025 and ii) the allocation of corporate technology costs, moving some from the Corporate and Other segment to the operating Business Segments |
In Q1 2025, GDI effected a change in the allocation of corporate technology costs, moving costs from the Corporate and Other segment to the operating Business Segments. This change was implemented to provide a more accurate view of segment profitability. Also, GDI has moved reporting for its IFS business unit from Corporate and Other to Technical Services as its was a more appropriate home for this business unit. Q1 2024 results have been recast to reflect this modification.
GDI’s Business Services Canada segment recorded $147 million in revenue while generating $11 million in Adjusted EBITDA*, representing an Adjusted EBITDA margin* of 7%. GDI’s Business Services USA segment recorded revenue of $217 million and Adjusted EBITDA* of $15 million, representing an Adjusted EBITDA margin* of 7%. Business Services USA experienced an organic revenue decline due to the loss of the segment’s largest client at the end of Q1 2024 and from exiting of low margin contracts obtained in the Atalian acquisition, which was partially mitigated by new customers wins. In addition, revenue generated by one customer fluctuates based on the volume of recurring project work which was lower in the first quarter of 2025.
The Technical Services segment recorded revenue of $246 million and Adjusted EBITDA* of $12 million, up by $6 million compared to Q1 2024, representing an Adjusted EBITDA margin* of 5% compared to 2% in Q1 2024, as the first quarter of 2024 was negatively affected by cost overruns on three large projects in its U.S operations.
GDI’s Corporate and Other segment recorded revenue of $6 million and negative Adjusted EBITDA* of $4 million compared to $14 million and $2 million in Q1 2024, respectively. The decline in revenue is primarily attributable to business divestitures during Fiscal 2024.
“I am very pleased with the performance of all of our business segments in Q1 this year,” stated Claude Bigras, President & CEO of GDI. “Each segment delivered profitability levels that were either in-line or above expectations which contributed to a 21% increase in Adjusted EBITDA over Q1 F2024 and a 6% consolidated Adjusted EBITDA margin for GDI as a whole. Our Business Services Canada segment recorded its fifth straight quarter with an Adjusted EBITDA margin of 7%, when adjusting last year’s results for the IT cost reallocation, showing strong stability and maintaining its premium of 100 to 200 basis points above pre-COVID levels, which we expect to continue for the foreseeable future. As we had already announced last quarter, our Business Services USA segment experienced an organic revenue decline stemming from the loss of GDI’s largest client in Q1 F2024 and from exiting low contracts as we focused on margin improvement in the Atalian acquisition throughout F2024. The majority of this business has now been replaced, and we are expecting organic growth to progressively improve to historic levels by the end of this year. Adjusted EBITDA margin in the segment was 7% during the quarter, returning to more normalized levels as the work we had been engaged in to increase margins from the Atalian acquisition has now been successfully completed. Our Technical Services segment had an outstanding quarter. Our decision to focus on higher margin business at Ainsworth continues to bear fruit, with $12 million of EBITDA and a 5% Adjusted EBITDA margin in the quarter. This was Ainsworth’s highest Adjusted EBITDA margin in Q1 since our acquisition of the business in F2015 which has historically ranged between 2% to 4% in the first quarter. Given the margin improvement initiatives we successfully implemented, the outlook at Ainsworth is positive for the remainder of F2025.”
“In addition to strong operating performance, GDI continued to deliver on our balance sheet initiatives during Q1 F2025. Our focus on working capital reduction resulted in a decrease of $9 million in the quarter. This puts us at a total net working capital reduction of $53 million since Q3 F2023 when we factor in M&A and FX impact, surpassing the $50 million dollar target that we announced at that time. We also decreased our long-term debt by $14 million in the quarter, which coupled with the increase in Adjusted EBITDA resulted in a decrease in our leverage ratio which now sits below our comfort range of 3x-3.5x.”
“All of our business segments are performing well. Business Services Canada has been performing well with a very stable margin profile. Organic growth at our Business Services USA segment is expected to show progressive improvement through the year and rebound to more historic levels by Q4. Ainsworth will continue to focus on higher margin business, and the outlook is positive. Finally, we are actively evaluating a number of M&A opportunities and have a healthy balance sheet with sufficient capacity to execute on our growth strategies. I am looking forward to GDI delivering on our expectations for the remainder of F2025,” concluded Mr. Bigras.
ABOUT GDI
GDI is a leading integrated commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, educational facilities, distribution centers, industrial facilities, healthcare establishments, stadiums and event venues, hotels, shopping centres, airports and other transportation facilities. GDI’s commercial facility services capabilities include commercial janitorial and building maintenance, energy advisory and system optimization, the installation, maintenance and repair of HVAC-R, mechanical, electrical and building automation systems, as well as other complementary services such as janitorial products manufacturing and distribution. GDI’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward looking information may relate to GDI’s future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as “may”; “will”; “should”; “expect”; “plan”; “anticipate”; “believe”; “intend”; “estimate”; “predict”; “potential”; “continue”; “foresee”; “ensure” or other similar expressions concerning matters that are not historical facts. In particular, statements regarding GDI’s future operating results and economic performance, and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which GDI believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to the Company, they may prove to be incorrect. It is impossible for GDI to predict with certainty the impact that the current economic uncertainties may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties (described in the “Risk Factors” section) that could cause actual results to differ materially from what GDI currently expects. Namely, these factors include risks pertaining to unsuccessful implementation of the business strategy, changes to business structure, inherent operating risks from acquisition activity, failure to integrate an acquired company, decline in commercial real estate occupancy levels, increase in costs which cannot be passed on to customers, labour shortages, disruption in information technology systems and execution issues with Strategic IT projects, increases in interest rates, exchange rate fluctuations, deterioration in economic conditions, Government Policies on International trade and Investment, including sanctions and actions after recent U.S. elections in respect to global trade, tariffs, and trade agreement, increase in competition, influence of the principal shareholders, loss of key or long-term customers, public procurement laws and regulations, legal proceedings, reputational damage, labour disputes, disputes with franchisees, environmental, social and governance (“ESG”) considerations, goodwill and long-lived assets impairment charges, tax matters, key employees, participation in multi-employer pension plans, legislation or other governmental action, cybersecurity, data confidentiality and data protection, and public perception of our environmental footprint, many of which are beyond the Company’s control. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, the Company is under no obligation and does not undertake to update or alter this information at any particular time, except as may be required by law.
|
Analyst Conference Call: |
May 9, 2025 at 8:00 A.M. (ET) Kindly note that Investors and Media representatives may attend as listeners only. |
|
Please use the following dial-in numbers to have access to the conference call by dialing 10 minutes before the beginning of the conference: North America Toll-Free: 1-800-990-4777 Local: 289-819-1299 (Toronto) or 514-400-3794 (Montreal) RapidConnect URL: https://emportal.ink/3NJfeHV |
|
|
A rebroadcast of the conference call will be available until May 16, 2025 by dialing: North America Toll-Free: 1-888-660-6345 Local: 289-819-1450 (Toronto) Confirmation Code: 14687# |
March 31, 2025 unaudited condensed consolidated interim financial statements and accompanied Management & Discussion Analysis are filed on www.sedarplus.ca.
|
____________________________ |
|
* The terms “Adjusted EBITDA”, “Adjusted EBITDA Margin”, Long-term debt, net of cash, and net operating working capital do not have standardized definitions prescribed by International Financial Reporting Standards and therefore, may not be comparable to similar measures presented by other companies. “Adjusted EBITDA” is defined as operating income before depreciation and amortization, transaction, reorganization and other costs, share-based compensation and strategic information technology projects configuration and customization costs. The Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by revenues. For more details and for a reconciliation of that measure to the most directly comparable IFRS measure, consult the “Operating and Financial Results” section of the Company’s Management Discussion & Analysis (“MD&A”). Long-term debt, net of cash, and net operating working capital details and calculation is descripted in the section “consolidated financial position” of the MD&A. |
GDI INTEGRATED FACILITY SERVICES INC.
CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
(UNAUDITED) (IN MILLIONS OF CANADIAN DOLLARS)
|
As at March 31, |
As at December 31, |
||
|
2025 |
2024 |
||
|
Assets |
|||
|
Current assets |
|||
|
Cash |
25 |
14 |
|
|
Trade and other receivables and contract assets |
564 |
565 |
|
|
Inventories |
34 |
33 |
|
|
Prepaid expenses and other |
25 |
16 |
|
|
Other financial assets |
‒ |
15 |
|
|
Assets held for sale |
6 |
6 |
|
|
Current tax assets |
4 |
4 |
|
|
Total current assets |
658 |
653 |
|
|
Non-current assets |
|||
|
Property, plant and equipment |
120 |
119 |
|
|
Intangible assets |
110 |
115 |
|
|
Goodwill |
378 |
378 |
|
|
Other long-term assets |
21 |
20 |
|
|
Total non-current assets |
629 |
632 |
|
|
Total assets |
1,287 |
1,285 |
|
|
Liabilities and Shareholders’ Equity |
|||
|
Current liabilities |
|||
|
Bank indebtedness |
1 |
2 |
|
|
Trade and other payables |
309 |
306 |
|
|
Provisions |
29 |
32 |
|
|
Contract liabilities |
36 |
33 |
|
|
Current tasx liabilities |
5 |
9 |
|
|
Current portion of long-term debt |
23 |
21 |
|
|
Total current liabilities |
403 |
403 |
|
|
Non-current liabilities |
|||
|
Long-term debt |
358 |
362 |
|
|
Other long-term payables |
8 |
9 |
|
|
Deferred tax liabilities |
15 |
15 |
|
|
Total non-current liabilities |
381 |
386 |
|
|
Shareholders’ equity |
|||
|
Share capital |
383 |
382 |
|
|
Retained earnings |
106 |
100 |
|
|
Contributed surplus |
3 |
3 |
|
|
Accumulated other comprehensive income |
11 |
11 |
|
|
Total shareholders’ equity |
503 |
496 |
|
|
Total liabilities and shareholders’ equity |
1,287 |
1,285 |
|
GDI INTEGRATED FACILITY SERVICES INC.
CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED) (IN MILLIONS OF CANADIAN DOLLARS, EXCEPT FOR EARNINGS PER SHARE)
|
Three-month periods ended March 31, |
||
|
2025 |
2024 |
|
|
Revenues |
616 |
644 |
|
Cost of services |
501 |
538 |
|
Selling and administrative expenses |
84 |
80 |
|
Transaction, reorganization and other costs |
1 |
1 |
|
Strategic information technology projects configuration and customization costs |
‒ |
1 |
|
Amortization of intangible assets |
5 |
12 |
|
Depreciation of property, plant and equipment |
13 |
14 |
|
Operating income (loss) |
12 |
(2) |
|
Net finance expense (income) |
3 |
(1) |
|
Income (Loss) before income taxes |
9 |
(1) |
|
Income tax expense (benefit) |
3 |
(1) |
|
Net income |
6 |
‒ |
|
Other comprehensive income (loss) |
||
|
Gains (losses) that are or may be reclassified to earnings: |
||
|
Foreign currency translation differences for foreign operations |
‒ |
6 |
|
Hedge of net investments in foreign operations, net of tax of nil (2024 – nil) |
‒ |
(6) |
|
Cash flow hedges, effective portion of changes in fair value, net of tax of nil (2024 – nil) |
‒ |
(1) |
|
‒ |
(1) |
|
|
Total comprehensive income (loss) |
6 |
(1) |
|
Earnings per share: |
||
|
Basic |
0.26 |
0.02 |
|
Diluted |
0.26 |
0.02 |
GDI INTEGRATED FACILITY SERVICES INC.
CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY
(UNAUDITED) (IN MILLIONS OF CANADIAN DOLLARS)
|
Share Capital |
|||||||
|
Number (in of shares) |
Amount |
Retained |
Contributed |
Accumulated |
TOTAL |
||
|
Balance, January 1, 2024 |
23,414 |
380 |
68 |
2 |
5 |
455 |
|
|
Net income |
‒ |
‒ |
‒ |
‒ |
‒ |
‒ |
|
|
Other comprehensive loss |
‒ |
‒ |
‒ |
‒ |
(1) |
(1) |
|
|
Total comprehensive income for the year |
‒ |
‒ |
‒ |
‒ |
(1) |
(1) |
|
|
Transactions with owners of the Company: |
|||||||
|
Stock options exercised |
35 |
1 |
‒ |
‒ |
‒ |
1 |
|
|
Balance, March 31, 2024 |
23,449 |
381 |
68 |
2 |
4 |
455 |
|
|
Balance, January 1, 2025 |
23,520 |
382 |
100 |
3 |
11 |
496 |
|
|
Net income |
‒ |
‒ |
6 |
‒ |
‒ |
6 |
|
|
Other comprehensive income |
‒ |
‒ |
‒ |
‒ |
‒ |
‒ |
|
|
Total comprehensive income for the year |
‒ |
‒ |
6 |
‒ |
‒ |
6 |
|
|
Transactions with owners of the Company: |
|||||||
|
Stock options exercised |
38 |
1 |
‒ |
‒ |
‒ |
1 |
|
|
Balance, March 31, 2025 |
23,558 |
383 |
106 |
3 |
11 |
503 |
|
|
(1) |
The amount of accumulated other comprehensive income is net of tax of nil. |
GDI INTEGRATED FACILITY SERVICES INC.
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
(UNAUDITED) (IN MILLIONS OF CANADIAN DOLLARS)
|
Three-month periods ended March 31, |
||
|
2025 |
2024 |
|
|
Cash flows from (used in) operating activities |
||
|
Net income |
6 |
‒ |
|
Adjustments for: |
||
|
Depreciation and amortization |
18 |
26 |
|
Net finance expense (income) |
3 |
(1) |
|
Income tax expense (benefit) |
3 |
(1) |
|
Income taxes paid |
(7) |
‒ |
|
Net changes in non-cash operating assets and liabilities |
12 |
(3) |
|
Net cash from operating activities |
35 |
21 |
|
Cash flows from (used in) financing activities |
||
|
Proceeds from issuance of long-term debt |
57 |
99 |
|
Repayment of long-term debt |
(62) |
(107) |
|
Payment of lease liabilities |
(9) |
(9) |
|
Interest paid |
(6) |
(7) |
|
Other |
1 |
1 |
|
Net cash used in financing activities |
(19) |
(23) |
|
Cash flows from (used in) investing activities |
||
|
Additions to property, plant and equipment |
(4) |
(4) |
|
Additions to intangible assets |
‒ |
(1) |
|
Other |
‒ |
2 |
|
Net cash from investing activities |
(4) |
(3) |
|
Foreign exchange loss on cash held in foreign currencies |
‒ |
(3) |
|
Net change in cash (bank indebtedness) |
12 |
(8) |
|
Cash, beginning of period: |
||
|
Cash |
14 |
17 |
|
Bank indebtedness |
(2) |
(14) |
|
12 |
3 |
|
|
Cash (bank indebtedness), end of period: |
||
|
Cash |
25 |
29 |
|
Bank indebtedness |
(1) |
(34) |
|
24 |
(5) |
|
GDI INTEGRATED FACILITY SERVICES INC.
SEGMENTED INFORMATION
(UNAUDITED) (IN MILLIONS OF CANADIAN DOLLARS)
|
Three-month period ended March 31, 2025 |
|||||
|
Business |
Business |
Technical |
Corporate |
Total |
|
|
Recurring/contractual services |
129 |
206 |
38 |
– |
373 |
|
On-call services |
8 |
11 |
64 |
– |
83 |
|
Projects |
– |
– |
144 |
– |
144 |
|
Manufacturing and distribution |
– |
– |
– |
9 |
9 |
|
Other revenues |
7 |
– |
– |
– |
7 |
|
Total external revenues |
144 |
217 |
246 |
9 |
616 |
|
Inter-segment revenues |
3 |
– |
– |
(3) |
– |
|
Revenues |
147 |
217 |
246 |
6 |
616 |
|
Income (loss) before income taxes |
8 |
10 |
2 |
(11) |
9 |
|
Net finance expense |
1 |
1 |
1 |
3 |
|
|
Operating income (loss) |
8 |
11 |
3 |
(10) |
12 |
|
Depreciation and amortization |
3 |
4 |
9 |
2 |
18 |
|
Transaction, reorganization, and other costs |
– |
– |
– |
1 |
1 |
|
Share-based compensation (1) |
– |
– |
– |
3 |
3 |
|
Strategic information technology projects configuration and customization costs |
– |
– |
– |
– |
– |
|
Adjusted EBITDA |
11 |
15 |
12 |
(4) |
34 |
|
Total assets |
255 |
402 |
546 |
84 |
1,287 |
|
Total liabilities |
72 |
104 |
271 |
337 |
784 |
|
Additions to property, plant and equipment |
1 |
10 |
2 |
1 |
14 |
|
Additions to intangible assets |
– |
– |
– |
– |
– |
|
Goodwill recorded on business acquisitions |
– |
– |
– |
– |
– |
|
(1) |
Includes stock option, performance share unit and restricted share unit plans. |
GDI INTEGRATED FACILITY SERVICES INC.
SEGMENTED INFORMATION (CONTINUED)
(UNAUDITED) (IN MILLIONS OF CANADIAN DOLLARS)
|
Three-month period ended March 31, 2024 |
|||||
|
Business |
Business |
Technical |
Corporate and |
Total |
|
|
Recurring/contractual services |
126 |
203 |
35 |
– |
364 |
|
On-call services |
9 |
22 |
74 |
– |
105 |
|
Projects |
– |
– |
151 |
– |
151 |
|
Manufacturing and distribution |
– |
– |
– |
17 |
17 |
|
Other revenues |
7 |
– |
– |
– |
7 |
|
Total external revenues |
142 |
225 |
260 |
17 |
644 |
|
Inter-segment revenues |
3 |
– |
– |
(3) |
– |
|
Revenues |
145 |
225 |
260 |
14 |
644 |
|
Income (loss) before income taxes (4) |
7 |
4 |
(3) |
(9) |
(1) |
|
Net finance expense |
– |
– |
(1) |
– |
(1) |
|
Operating income (loss) |
7 |
4 |
(4) |
(9) |
(2) |
|
Depreciation and amortization |
3 |
9 |
10 |
4 |
26 |
|
Transaction, reorganization, and other costs |
– |
1 |
– |
– |
1 |
|
Share-based compensation (1) |
– |
– |
– |
2 |
2 |
|
Strategic information technology projects configuration and customization costs |
– |
– |
– |
1 |
1 |
|
Adjusted EBITDA |
10 |
14 |
6 |
(2) |
28 |
|
Total assets(2) |
254 |
416 |
526 |
89 |
1,285 |
|
Total liabilities(2) |
72 |
114 |
246 |
357 |
789 |
|
Additions to property, plant and equipment |
2 |
1 |
8 |
1 |
12 |
|
Additions to intangible assets |
– |
– |
– |
1 |
1 |
|
Goodwill recorded on business acquisitions |
– |
3 |
– |
– |
3 |
|
(1) |
Includes stock option, performance share unit and restricted share unit plans. |
|
(2) |
As at December 31, 2024. |
|
(3) |
The 2024 figures were recast to reflect January 1, 2025 reorganization change were facility management services now report into Technical Services segment as opposed to Corporate and Other as published in 2024. |
|
(4) |
The 2024 figures were recast to reflect a change in the allocation of corporate technology costs, moving from the Corporate and Other segment to the operating segments. This change was implemented to provide a more meaningful view of segment profitability. |
GDI INTEGRATED FACILITY SERVICES INC.
BUSINESS ACQUISITIONS
(UNAUDITED)
|
Acquisition date |
Company acquired (1) |
Location |
Segment reporting |
Status(2) |
|
2025 Acquisitions |
||||
|
None |
||||
|
2024 Acquisitions |
||||
|
April 1, 2024 |
Hussmann Canada Inc. (“Hussmann”) |
Dartmouth, Nova Scotia |
Technical Services |
Completed |
|
May 1, 2024 |
Jade Opco, LLC, doing business as Paramount Building Solutions (“Paramount“) |
Phoenix, Arizona |
Business Services USA |
Completed |
|
June 1, 2024 |
RYCOM Corporation (“RYCOM“) |
Toronto, Ontario |
Technical Services |
Preliminary |
|
(1) |
GDI acquired all of the outstanding shares of each acquired company, with the exception of Hussman, where the Company completed the acquisition of certain assets and assumed certain liabilities. |
|
(2) |
Preliminary status: Given the limited time between the 2024 Acquisitions and March 31, 2025, the purchase prices have been allocated on a preliminary basis and will be finalized as soon as the Company’s management has obtained all the information it considers necessary. Completed status: The assessment of the fair value of the assets acquired and liabilities assumed is completed. |
Business disposals
On April 1, 2024, the Company completed the sale of its Superior cleaning and sanitation supplies distribution business and transferred to the purchaser some of its related liabilities.
On November 30, 3024, the Company completed the sale of Ainsworth Power Construction (“APC”), a specialized business performing high voltage work primarily for utilities in Ontario.
GDI INTEGRATED FACILITY SERVICES INC.
CONSOLIDATED FINANCIAL POSITION
(UNAUDITED) (IN MILLIONS OF CANADIAN DOLLARS)
|
(in millions of Canadian dollars) |
March 31, 2025 |
December 31, |
|
Net operating working capital: |
||
|
Trade and other receivables and contract assets |
564 |
565 |
|
Inventories |
34 |
33 |
|
Prepaid expenses and other |
25 |
16 |
|
Other financial assets |
‒ |
15 |
|
Trade and other payables |
(309) |
(306) |
|
Provisions |
(29) |
(32) |
|
Contract liabilities |
(36) |
(33) |
|
Net operating working capital |
249 |
258 |
|
Long-term debt, including current portion, net of Cash (bank indebtedness): |
||
|
Cash, net of bank indebtedness |
24 |
12 |
|
Long-term debt, including current portion |
(381) |
(383) |
|
Long-term debt, including current portion, net of Cash (bank indebtedness) |
(357) |
(371) |
|
Other financial position accounts: |
||
|
Property, plant and equipment |
120 |
119 |
|
Intangible assets |
110 |
115 |
|
Goodwill |
378 |
378 |
|
Other long-term assets |
21 |
20 |
|
Assets held for sale |
6 |
6 |
|
Other long-term liabilities |
(8) |
(9) |
|
Net current tax (liabilities) assets |
(1) |
(5) |
|
Net deferred tax (liabilities) assets |
(15) |
(15) |
GDI INTEGRATED FACILITY SERVICES INC.
SUPPLEMENTARY QUARTERLY FINANCIAL INFORMATION
THREE-MONTH PERIODS
(UNAUDITED) (IN MILLIONS OF CANADIAN DOLLARS, EXCEPT FOR EARNINGS PER SHARE)
|
Three months ended |
||||
|
(in millions of Canadian dollars, except per share data) (1) |
March |
December |
September |
June |
|
Revenue |
616 |
634 |
640 |
639 |
|
Operating income |
12 |
15 |
15 |
10 |
|
Depreciation and amortization |
18 |
22 |
20 |
19 |
|
Transaction, reorganization and other costs |
1 |
(2) |
1 |
2 |
|
Share-based compensation |
3 |
2 |
3 |
2 |
|
Strategic information technology projects configuration and customization costs |
‒ |
1 |
‒ |
1 |
|
Adjusted EBITDA |
34 |
38 |
39 |
34 |
|
Net income for the period |
6 |
23 |
7 |
2 |
|
Earnings per share |
||||
|
Basic |
0.26 |
1.00 |
0.28 |
0.07 |
|
Diluted |
0.26 |
0.99 |
0.28 |
0.07 |
|
Three months ended |
||||
|
(in millions of Canadian dollars, except per share data) (1) |
March |
December |
September |
June |
|
Revenue |
644 |
622 |
615 |
609 |
|
Operating (loss) income |
(2) |
9 |
16 |
10 |
|
Depreciation and amortization |
26 |
22 |
19 |
19 |
|
Transaction, reorganization and other costs |
1 |
2 |
‒ |
1 |
|
Share-based compensation |
2 |
2 |
2 |
3 |
|
Strategic information technology projects configuration and customization costs |
1 |
2 |
2 |
1 |
|
Adjusted EBITDA |
28 |
37 |
39 |
34 |
|
Net income for the period |
‒ |
6 |
8 |
1 |
|
Earnings per share |
||||
|
Basic |
0.02 |
0.26 |
0.35 |
0.04 |
|
Diluted |
0.02 |
0.25 |
0.35 |
0.04 |
|
(1) |
The differences between the quarters are mainly the results of business acquisitions, as well as seasonality in the Technical Services segment. |
SOURCE GDI Integrated Facility Services Inc.
The post GDI Integrated Facility Services Inc. Releases its Financial Results for the First Quarter Ended March 31, 2025 appeared first on The Malaysian Reserve.
