- Q4 2024 revenue of $634 million, an increase of $12 million, or 2%, over Q4 2023.
- Q4 2024 Adjusted EBITDA* of $ 38 million, representing an Adjusted EBITDA* margin of 6%.
- Q4 2024 net income of $23 million or $1.00 per share compared with $6 million or $0.26 per share for the fourth quarter of 2023.
- Q4 2024 decrease in long-term debt, net of cash*, of $36 million.
- Q4 2024 decrease in net operating working capital* of $19 million.
- 2024 revenue of $2.56 billion, an increase of $118 million or 5% over 2023.
- 2024 Adjusted EBITDA* of $137 million, a decrease of $6 million, or 4%, over 2023.
- 2024 net income of $32 million or $1.37 per share compared with $19 million or $0.80 per share in 2023.
LASALLE, QC, March 4, 2025 /CNW/ - GDI Integrated Facility Services Inc. ("GDI" or the "Company") (TSX: GDI) is pleased to announce its financial results for the fourth quarter and the year ended December 31, 2024.
For the fourth quarter of 2024:
- Revenue reached $634 million, an increase of $12 million, or 2%, over the fourth quarter of 2023, comprised of 2 % growth from acquisition, 1% growth from foreign currency translation, partially offset by an organic decline of 2%.
- Adjusted EBITDA* amounted to $38 million, representing an Adjusted EBITDA* margin of 6%.
- Net income was $23 million or $1.00 per share compared to $6 million or $0.26 per share in Q4 2023. The increase of net income is mainly explained by the gain on business disposals recorded in the year.
- Long-term debt, net of cash* decreased by $36 million in the quarter. The decrease is mainly attributable to business disposal as well as cash flow from operations generated in the quarter. This decrease was partially offset by an increase of $19 million from the appreciation of the U.S. dollar relative to the Canadian dollar.
- Net operating working capital* reduction of $19 million in the quarter.
For the fourth quarters of 2024 and 2023, the business segments performed as follows:
(in millions of Canadian dollars) | Business Services
Canada | Business Services
USA | Technical
Services | Corporate and
Other | Consolidated |
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 |
Revenue | 150 | 146 | 217 | 215 | 257 | 239 | 10 | 22 | 634 | 622 |
Organic Growth (Decline) | 3 % | 1 % | (10 %) | 10 % | 4 % | (5 %) | (14 %) | 22 % | (2 %) | 2 % |
Adjusted EBITDA* | 12 | 13 | 14 | 16 | 18 | 14 | (6) | (6) | 38 | 37 |
Adjusted EBITDA Margin* | 8 % | 9 % | 6 % | 7 % | 7 % | 6 % | N/A | N/A | 6 % | 6 % |
For the year ended December 31, 2024:
- Revenue reached $2.56 billion, an increase of $118 million, or 5%, compared to 2023 which is mostly attributable to the effect of business acquisitions and disposals.
- Adjusted EBITDA* amounted to $137 million, a decrease of $6 million, or 4%, compared to 2023.
- Net income was $32 million or $1.37 per share compared to $19 million or $0.80 per share in 2023. The increase of net income is mainly explained by the gain on business disposals recorded in the year.
For the years ended December 31, 2024 and 2023, the business segments performed as follows:
(in millions of Canadian dollars) | Business Services
Canada | Business Services
USA | Technical
Services | Corporate and
Other | Consolidated |
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 |
Revenue | 585 | 578 | 883 | 756 | 1,032 | 1,024 | 55 | 79 | 2,555 | 2,437 |
Organic Growth (Decline) | 1 % | 1 % | 0 % | 2 % | (2 %) | 18 % | 6 % | 10 % | (1 %) | 8 % |
Adjusted EBITDA* | 46 | 54 | 55 | 55 | 60 | 53 | (24) | (19) | 137 | 143 |
Adjusted EBITDA Margin* | 8 % | 9 % | 6 % | 7 % | 6 % | 5 % | N/A | N/A | 5 % | 6 % |
GDI's Business Services Canada segment recorded $150 million in revenue while generating $12 million in Adjusted EBITDA*, representing an Adjusted EBITDA margin* of 8%. GDI's Business Services USA segment recorded revenue of $217 million and Adjusted EBITDA* of 14$ million, representing an Adjusted EBITDA margin* of 6%. Business Services USA experienced an organic revenue decline due to the loss of the segment's largest client at the end of Q1 2024. This loss had been mostly mitigated by new customers wins in the previous quarters. However, revenue generated by one new customer fluctuates based on the volume of recurring project work which was lower in Q4. Additionally, as announced in Q3 2024, Adjusted EBITDA in the fourth quarter in GDI's Business Service segments was approximately $3 million dollars lower on a combined basis as there was one extra working day in the quarter compared to Q4 2023.
The Technical Services segment recorded revenue of $257 million and Adjusted EBITDA* of $18 million, up by $4 million compared to Q3 2024, representing an Adjusted EBITDA margin* of 7% compared to 6% in Q3 2024. The segment experienced an organic revenue growth of 4% and growth of 3% from acquisitions.
Finally, GDI's Corporate and Other segment recorded revenue of $10 million compared to revenue of $22 million in Q4 2023, with comparable negative Adjusted EBITDA* of $6 million in both quarters. The decline in revenue is primarily attributable to business divestitures during Fiscal 2024.
"I am satisfied with GDI's performance in Q4 2024," stated Claude Bigras, President & CEO of GDI. "We generated $634 million in revenue and $38 million in Adjusted EBITDA, despite the extra working day impact of approximately $3 million in our Business Services segments on a quarter over quarter basis. Our Business Services Canada segment delivered healthy organic growth while maintaining an Adjusted EBITDA margin of 8%, which was in-line with the other three quarters of fiscal 2024. Despite the challenges that the commercial real estate industry experienced in 2024, our Business Services Canada platform demonstrated its ability to deliver solid and stable results. Our Business Services USA segment experienced a decline in organic revenue due to the loss of GDI's largest client at the end of Q1 2024. We had replaced most of this loss through new client wins but one new client's revenue stream is primarily project-based and volumes were lower in Q4 than earlier in the year. Additionally, we continued to shed uneconomic accounts acquired under the Atalian acquisition. The Business Services USA segment recently secured a number of new business wins that have just started or will be starting up during Q1 and Q2 2025. Quarter over quarter revenue comparisons should normalize beginning in Q2 2025 and we expect to return to more traditional organic growth levels as the year progresses. Our Technical Services segment had another strong quarter as it generated $257 million in revenue and an Adjusted EBITDA margin of 7%. Our initiatives to increase margins in the retrofit project segment of the business which we implemented in Q3 2023 were the main driver of margin growth. It should help support the margin profile of the business in 2025 and help us realize our goal to generate an annual Adjusted EBITDA margin of 7% for the segment" continued Mr. Bigras.
"GDI also delivered on its two key balance sheet initiatives during Q4 2024. We generated a reduction in net operating working capital* of $19 million over Q3 2024. Additionally, we successfully reduced our long-term debt, net of cash* by $36 million in Q4 as a result of working capital reduction and strong cash flow. We still expect proceeds from unused real estate divestitures to generate $25 million to $30 million of cash in 2025. Our outlook for 2025 is positive for each of our business segments, our balance sheet is solid with a leverage ratio below 3x, and we are well positioned to continue to execute on our strategic growth strategy," 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, 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: | March 5, 2025 at 9:00 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/4fiHddX |
A rebroadcast of the conference call will be available March 12, 2025 by dialing:
North America Toll-Free: 1-888-660-6345
Local: 289-819-1450 (Toronto)
Confirmation Code: 20296# |
December 31, 2024 consolidated 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 Statements of Financial Position
December 31, 2024 and 2023
(In millions of Canadian dollars)
| 2024 | 2023 |
Assets |
|
|
|
|
|
Current assets |
|
|
Cash | 14 | 17 |
Trade and other receivables and contract assets | 565 | 571 |
Assets held for sale | 6 | ‒ |
Current tax assets | 4 | 11 |
Inventories | 33 | 42 |
Other financial assets | 15 | 13 |
Prepaid expenses and other | 16 | 11 |
Derivatives | ‒ | 1 |
Total current assets | 653 | 666 |
|
|
|
Non-current assets |
|
|
Property, plant and equipment | 119 | 127 |
Intangible assets | 115 | 131 |
Goodwill | 378 | 356 |
Other long-term assets | 20 | 12 |
Total non-current assets | 632 | 626 |
|
|
|
Total assets | 1,285 | 1,292 |
|
|
|
Liabilities and Shareholders' Equity |
|
|
|
|
|
Current liabilities |
|
|
Bank indebtedness | 2 | 14 |
Trade and other payables | 306 | 298 |
Provisions | 32 | 32 |
Contract liabilities | 33 | 34 |
Current tax liabilities | 9 | 2 |
Current portion of long-term debt | 21 | 36 |
Total current liabilities | 403 | 416 |
|
|
|
Non-current liabilities |
|
|
Long-term debt | 362 | 384 |
Other liabilities | 9 | 5 |
Deferred tax liabilities | 15 | 32 |
Total non-current liabilities | 386 | 421 |
|
|
|
Shareholders' equity |
|
|
Share capital | 382 | 380 |
Retained earnings | 100 | 68 |
Contributed surplus | 3 | 2 |
Accumulated other comprehensive income | 11 | 5 |
Total shareholders' equity | 496 | 455 |
|
|
|
Total liabilities and shareholders' equity | 1,285 | 1,292 |
GDI INTEGRATED FACILITY SERVICES INC.
Consolidated Statements of Comprehensive Income
Years ended December 31, 2024 and 2023
(In millions of Canadian dollars, except for earnings per share)
| 2024 | 2023 |
|
|
|
Revenues | 2,555 | 2,437 |
|
|
|
Cost of services | 2,099 | 1,987 |
Selling and administrative expenses | 328 | 316 |
Transaction, reorganization and other costs | 2 | 4 |
Strategic information technology projects configuration and customization costs | 2 | 6 |
Amortization of intangible assets | 29 | 24 |
Depreciation of property, plant and equipment | 57 | 53 |
Operating income | 38 | 47 |
|
|
|
Net finance expense | 14 | 18 |
Gain on business disposals | (17) | – |
Income before income taxes | 41 | 29 |
|
|
|
Income tax expense | 9 | 10 |
Net income | 32 | 19 |
|
|
|
Other comprehensive income (loss) |
|
|
Gains(losses) that are or may be reclassified to earnings: |
|
|
Foreign currency translation differences for foreign operations | 25 | (7) |
Hedge of net investments in foreign operations, net of tax of $5 | (18) | 7 |
Cash flow hedges, effective portion of changes in fair value, net of tax | (1) | (2) |
| 6 | (2) |
|
|
|
Total comprehensive income | 38 | 17 |
|
|
|
Earnings per share: |
|
|
Basic | 1.37 | 0.80 |
Diluted | 1.36 | 0.79 |
GDI INTEGRATED FACILITY SERVICES INC.
Consolidated Statements of Changes in Equity
Years ended December 31, 2024 and 2023
(In millions of Canadian dollars)
| Share Capital | Retained
earnings | Contributed
surplus | Accumulated other
comprehensive income (loss) | Total |
| Number (in thousands of shares) | Amount | Net
investment
Hedge | Currency
Translation
adjustment | Swap-
Hedge |
|
|
|
|
|
|
|
|
|
Balance, January 1, 2023 | 23,414 | 379 | 49 | 4 | (16) | 20 | 3 | 439 |
|
|
|
|
|
|
|
|
|
Net income | ‒ | ‒ | 19 | ‒ | ‒ | ‒ | ‒ | 19 |
Other comprehensive loss | ‒ | ‒ | ‒ | ‒ | 7 | (7) | (2) | (2) |
Total comprehensive income for the year | ‒ | ‒ | 19 | ‒ | 7 | (7) | (2) | 17 |
Transactions with owners of the Company: |
Share-based compensation | ‒ | ‒ | ‒ | 1 | ‒ | ‒ | ‒ | 1 |
Stock options exercised | 98 | 2 | ‒ | ‒ | ‒ | ‒ | ‒ | 2 |
Shares repurchased for cancellation | (98) | (1) | ‒ | (3) | ‒ | ‒ | ‒ | (4) |
Balance, December 31, 2023 | 23,414 | 380 | 68 | 2 | (8) | 13 | 1 | 455 |
|
|
|
|
|
|
|
|
|
Net income | ‒ | ‒ | 32 | ‒ | ‒ | ‒ | ‒ | 32 |
Other comprehensive income | ‒ | ‒ | ‒ | ‒ | (18) | 25 | (1) | 6 |
Total comprehensive income for the year |
|
| 32 |
| (17) | 24 | (1) | 38 |
Transactions with owners of the Company: |
Share-based compensation | ‒ | ‒ | ‒ | 1 | ‒ | ‒ | ‒ | 1 |
Stock options exercised | 106 | 2 | ‒ | ‒ | ‒ | ‒ | ‒ | 2 |
Shares repurchased for cancellation | ‒ | ‒ | ‒ | ‒ | ‒ | ‒ | ‒ | ‒ |
Balance, December 31, 2024 | 23,520 | 382 | 100 | 3 | (26) | 37 | ‒ | 496 |
GDI INTEGRATED FACILITY SERVICES INC.
Consolidated Statements of Cash Flows
Years ended December 31, 2024 and 2023
(In millions of Canadian dollars)
| 2024 | 2023 |
|
|
|
Cash flows from (used in) operating activities |
|
|
Net income | 32 | 19 |
Adjustments for: |
|
|
Depreciation and amortization | 86 | 77 |
Net finance expense | 14 | 18 |
Gain on business disposals | (17) | ‒ |
Income tax expense | 9 | 10 |
Income taxes paid | (7) | (14) |
Other | 2 | 1 |
Net changes in non-cash operating assets and liabilities | 17 | (46) |
Net cash from operating activities | 136 | 65 |
|
|
|
Cash flows from (used in) financing activities |
|
|
Proceeds from issuance of long-term debt | 274 | 401 |
Repayment of long-term debt | (325) | (370) |
Payment of lease liabilities | (39) | (31) |
Interest paid | (30) | (23) |
Other | 1 | (2) |
Net cash used in financing activities | (119) | (25) |
|
|
|
Cash flows from (used in) investing activities |
|
|
Business acquisitions, net of cash and bank indebtedness acquired | (20) | (11) |
Business disposals | 39 | ‒ |
Additions to property, plant and equipment | (14) | (21) |
Additions to intangible assets | (5) | (6) |
Acquisition of other investments | (6) | ‒ |
Other | ‒ | 1 |
Net cash used in investing activities | (7) | (37) |
|
|
|
Foreign exchange gain (loss) on cash held in foreign currencies | (2) | 3 |
|
|
|
Net change in cash (bank indebtedness) | 9 | 6 |
|
|
|
(Bank indebtedness) cash, beginning of year: |
|
|
Cash | 17 | 7 |
Bank indebtedness | (14) | (10) |
| 3 | (3) |
|
|
|
Cash (bank indebtedness), end of year: |
|
|
Cash | 14 | 17 |
Bank indebtedness | (2) | (14) |
| 12 | 3 |
GDI INTEGRATED FACILITY SERVICES INC.
Segmented information
Years ended December 31, 2024 and 2023
(In millions of Canadian dollars)
| 2024 |
| Business
Services Canada | Business
Services USA | Technical
Services | Corporate
and Other | Total |
|
|
|
|
|
|
Recurring/contractual services | 512 | 804 | 116 | 20 | 1,452 |
On-call services | 37 | 79 | 285 | 5 | 406 |
Projects | – | – | 630 | – | 630 |
Manufacturing and distribution | – | – | – | 41 | 41 |
Other revenues | 25 | – | – | 1 | 26 |
|
|
|
|
|
|
Total external revenues | 574 | 883 | 1,031 | 67 | 2,555 |
Inter-segment revenues | 11 | – | 1 | (12) | – |
Revenues | 585 | 883 | 1,032 | 55 | 2,555 |
|
|
|
|
|
|
Income (loss) before income taxes | 35 | 29 | 35 | (58) | 41 |
Net finance expense | – | – | 2 | 12 | 14 |
Gain on business disposal | – | – | (17) | – | (17) |
Operating income (loss) | 35 | 29 | 20 | (46) | 38 |
Depreciation and amortization | 11 | 25 | 38 | 12 | 86 |
Transaction, reorganization, and other costs | – | 1 | 2 | (1) | 2 |
Share-based compensation (1) | – | – | – | 9 | 9 |
Strategic information technology projects configuration and customization costs | – | – | – | 2 | 2 |
Adjusted EBITDA (3) | 46 | 55 | 60 | (24) | 137 |
|
|
|
|
|
|
Total assets | 254 | 416 | 526 | 89 | 1,285 |
Total liabilities | 72 | 114 | 246 | 357 | 789 |
Additions to property, plant and equipment | 8 | 13 | 35 | 3 | 59 |
Additions to intangible assets | – | 2 | 3 | 5 | 10 |
Goodwill recorded on business acquisitions | – | 9 | 2 | – | 11 |
GDI INTEGRATED FACILITY SERVICES INC.
Segmented information
Years ended December 31, 2024 and 2023
(In millions of Canadian dollars)
| 2023 |
| Business
Services Canada | Business
Services USA | Technical
Services | Corporate
and Other | Total |
|
|
|
|
|
|
Recurring/contractual services | 498 | 719 | 83 | 18 | 1,318 |
On-call services | 45 | 37 | 291 | 5 | 378 |
Projects | – | – | 650 | – | 650 |
Manufacturing and distribution | – | – | – | 62 | 62 |
Other revenues | 24 | – | – | 5 | 29 |
|
|
|
|
|
|
Total external revenues | 567 | 756 | 1,024 | 90 | 2,437 |
Inter-segment revenues | 11 | – | – | (11) | – |
Revenues | 578 | 756 | 1,024 | 79 | 2,437 |
|
|
|
|
|
|
Income (loss) before income taxes | 42 | 36 | 17 | (66) | 29 |
Net finance expense | – | 1 | (1) | 18 | 18 |
Operating income (loss) | 42 | 37 | 16 | (48) | 47 |
Depreciation and amortization | 11 | 18 | 36 | 12 | 77 |
Transaction, reorganization, and other costs | 1 | – | 1 | 2 | 4 |
Share-based compensation (1) | – | – | – | 9 | 9 |
Strategic information technology projects configuration and customization costs | – | – | – | 6 | 6 |
Adjusted EBITDA | 54 | 55 | 53 | (19) | 143 |
|
|
|
|
|
|
Total assets | 267 | 359 | 544 | 122 | 1,292 |
Total liabilities | 69 | 109 | 253 | 406 | 837 |
Additions to property, plant and equipment | 8 | 13 | 32 | 8 | 61 |
Additions to intangible assets | – | 10 | 2 | 6 | 18 |
Goodwill recorded on business acquisitions | – | 14 | 2 | – | 16 |
GDI INTEGRATED FACILITY SERVICES INC.
Business acquisitions
Years ended December 31, 2024 and 2023
(In millions of Canadian dollars)
Acquisition
date | Company acquired | Location | Segment
reporting | Status |
2024 Acquisitions |
April 1, 2024 | Hussmann Canada Inc. ("Hussmann") | Dartmouth, Nova Scotia | Technical
Services | Preliminary |
May 1, 2024 | Jade Opco, LLC, doing business as
Paramount Building Solutions ("Paramount") | Phoenix, Arizona | Business
Services USA | Preliminary |
June 1, 2024 | RYCOM Corporation
("RYCOM") | Toronto, Ontario | Technical
Services | Preliminary |
2023 Acquisitions |
June 1, 2023 | React Technical, Inc.
("React") | New York,
New York | Technical
Services | Completed |
November 1, 2023 | La Financière Italian ("Atalian") | Multiple sites in
the USA | Business
Services USA | Completed |
GDI INTEGRATED FACILITY SERVICES INC.
Consolidated financial position
(in millions of Canadian dollars) | December 31, | December 31, |
2024 | 2023 |
Net operating working capital: |
|
|
Trade and other receivables and contract assets | 565 | 571 |
Inventories | 33 | 42 |
Other financial assets | 15 | 13 |
Prepaid expenses and other | 16 | 11 |
Trade and other payables | (306) | (298) |
Provisions | (32) | (32) |
Contract liabilities | (33) | (34) |
Net operating working capital (1) | 258 | 273 |
Long-term debt, including current portion, net of Cash (bank indebtedness): |
|
|
Cash, net of bank indebtedness | 12 | 3 |
Long-term debt, including current portion | (383) | (420) |
Long-term debt, including current portion, net of Cash (bank indebtedness) | (371) | (417) |
|
|
|
Other financial position accounts: |
|
|
Property, plant and equipment | 119 | 127 |
Intangible assets | 115 | 131 |
Goodwill | 378 | 356 |
Other long-term assets | 20 | 12 |
Assets held for sale | 6 | ‒ |
Derivatives | ‒ | 1 |
Other long-term liabilities | (9) | (5) |
Net current tax (liabilities) assets | (5) | 9 |
Net deferred tax (liabilities) assets | (15) | (32) |
GDI INTEGRATED FACILITY SERVICES INC.
Supplementary Quarterly Financial Information
Three-month periods
(Unaudited) (In millions of Canadian dollars, except per share data)
Three months ended |
|
|
|
|
(in millions of Canadian dollars,
except per share data) (1) | December 2024 | September 2024 | June 2024 | March 2024 |
Revenue | 634 | 640 | 639 | 644 |
Operating income | 15 | 15 | 10 | (2) |
Depreciation and amortization | 22 | 20 | 19 | 26 |
Transaction, reorganization and other costs | (2) | 1 | 2 | 1 |
Share-based compensation | 2 | 3 | 2 | 2 |
Strategic information technology projects configuration and customization costs | 1 | ‒ | 1 | 1 |
Adjusted EBITDA | 38 | 39 | 34 | 28 |
Net income for the period | 23 | 7 | 2 | ‒ |
Earnings per share |
|
|
|
|
Basic | 1.00 | 0.28 | 0.07 | 0.02 |
Diluted | 0.99 | 0.28 | 0.07 | 0.02 |
Three months ended |
|
|
|
|
(in millions of Canadian dollars,
except per share data) (1) | December 2023 | September 2023 | June 2023 | March 2023 |
Revenue | 622 | 615 | 609 | 591 |
Operating income | 9 | 16 | 10 | 12 |
Depreciation and amortization | 22 | 19 | 19 | 17 |
Transaction, reorganization and other costs | 2 | ‒ | 1 | 1 |
Share-based compensation | 2 | 2 | 3 | 2 |
Strategic information technology projects configuration and customization costs | 2 | 2 | 1 | 1 |
Adjusted EBITDA | 37 | 39 | 34 | 33 |
Net income for the period | 6 | 8 | 1 | 4 |
Earnings per share |
|
|
|
|
Basic | 0.26 | 0.35 | 0.04 | 0.15 |
Diluted | 0.25 | 0.35 | 0.04 | 0.15 |
(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.
