CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF)
("
CEMATRIX" or the "
Company") a
North American leading manufacturer and supplier of technologically
advanced cellular concrete products announced the release of its
consolidated financial results for the second quarter ended June
30, 2024.
“The company set a new, first half record, which
is a continuation of our strong growth since mid-year 2023.
Overall, the second quarter of 2024 was similar to 2023 as revenue
grew 3% versus the prior year. On a year-to-date basis, revenue is
up 11% versus last year and more importantly, adjusted EBITDA is up
by $1.6 million versus last year and positive overall on a
year-to-date basis. The increase in EBITDA is the direct result of
increased sales at higher prices as well as improved margins to the
end of the second quarter. CEMATRIX is now in the busy
infrastructure construction period for the second half of the year
and we remain confident that we are on track for another profitable
year with positive cashflow from operations," stated Jeff Kendrick,
CEO of CEMATRIX.
“We want to recognize and thank all of our
employees at CEMATRIX and in particular our field staff which
continues to safely and consistently deliver on time, on budget,
and on quality projects for our customers. Successful field
execution is the foundation of our success,” stated Randy Boomhour,
COO of CEMATRIX.
“We continue to work on a number of initiatives
to grow shareholder value as evidenced by our recent uplisting to
the TSX. We recently completed a new financing that strengthened
our balance sheet and increased CEMATRIX’s institutional ownership
with quality investors committed to our long-term success,”
continued Jeff Kendrick.
“Our commitment to growth and shareholder value
remains unwavering as we continue to foster strong organic growth
and maintain a robust balance sheet. With management holding a
significant stake in the company, our interests are closely aligned
with those of our shareholders. As we execute our strategic plan,
we are optimistic about the remainder of 2024 and beyond, confident
that our product offerings and the advantages that it delivers to
customers will continue to bring tremendous opportunities for our
business," concluded Jeff Kendrick.
The following are the business and financial
highlights for the second quarter and year to date:
Business highlights for the
quarter:
- Announced $7.6 million in new
contracts and a reduction in scope of a previously awarded tunnel
project (April 26, 2024)
- Announced $5.6 million in new
contracts (June 5, 2024)
- Announced an increase to its Credit
Facility to $8.0 million (June 27, 2024)
Business highlights subsequent to the
quarter:
- Announced $9.7 million in new
contracts (July 10, 2024)
- Announced uplisting to TSX and new
ticker symbol CEMX (July 15, 2024)
- Announced $3.5 million bought deal
private placement (July 17, 2024)
- Announced closing of $6.6 million
bought deal private placement (July 29, 2024)
- Announced the retirement of
esteemed board member, Mr. Bob Benson (August 1, 2024)
Summary financial results:
|
|
Three months endedJune 30, |
|
Six months endedJune 30, |
|
($millions) |
2024 |
2023 |
Change |
% |
|
2024 |
2023 |
Change |
% |
|
Revenue |
6.4 |
|
6.2 |
|
0.2 |
|
3 |
% |
|
14.9 |
|
13.4 |
|
1.5 |
|
11 |
% |
|
Gross Margin |
1.1 |
|
1.1 |
|
- |
|
0 |
% |
|
3.6 |
|
1.9 |
|
1.7 |
|
89 |
% |
|
Gross Margins % |
17 |
% |
18 |
% |
(1% |
) |
(3 |
%) |
|
24 |
% |
14 |
% |
10 |
% |
70 |
% |
|
SG&A |
2.2 |
|
2.1 |
|
0.1 |
|
5 |
% |
|
4.4 |
|
4.0 |
|
0.4 |
|
10 |
% |
|
Operating Income |
(1.1 |
) |
(1.0 |
) |
(0.1 |
) |
-(10%) |
|
(0.8 |
) |
(2.1 |
) |
1.3 |
|
62 |
% |
|
Adjusted EBITDA |
(0.5 |
) |
(0.4 |
) |
(0.1 |
) |
(25 |
%) |
|
0.5 |
|
(1.1 |
) |
1.6 |
|
145 |
% |
|
Cashflow from Operations |
(0.5 |
) |
(0.5 |
) |
- |
|
0 |
% |
|
0.4 |
|
(1.2 |
) |
1.6 |
|
133 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cashflow from Operations is before working
capital adjustments. Adjusted EBITDA is a non-GAAP measure. The
Company defines and provides the calculation for adjusted EBITDA in
its MD&A.
Second quarter financial results
webinar
Management will host a webinar at 1:00 p.m. ET
on Thursday, August 8, 2024, to discuss CEMATRIX’s second quarter
financial results, provide a corporate update and conclude with a
question-and-answer session from online participants.
Register in advance for this
webinar:https://us02web.zoom.us/webinar/register/WN_umFBjEAfQKqyPqBxRZtWRgAfter
registering, you will receive a confirmation email containing
information about joining the webinar.
ABOUT CEMATRIX
CEMATRIX is a rapidly growing company that
manufactures and supplies technologically advanced cellular
concrete products developed from proprietary formulations across
North America. This unique cement-based material with superior
thermal protection delivers cost-effective, innovative solutions to
a broad range of problems facing the infrastructure, industrial
(including oil and gas) and commercial markets. Through recent
acquisitions of Chicago based MixOnSite and Bellingham based
Pacific International Grout, CEMATRIX is now North America’s
largest Cellular Concrete company. For more information please
visit our website at www.cematrix.com.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
STATEMENTS
This news release contains forward-looking
statements and forward-looking information (together,
"forward-looking statements") within the meaning of applicable
securities laws. All statements, other than statements of
historical facts, are forward-looking statements. Generally,
forward-looking statements can be identified by the use of
terminology such as "plans", "expects", "estimates", "intends",
"anticipates", "believes" or variations of such words, or
statements that certain actions, events or results "may", "could",
"would", "might", "will be taken", "occur" or "be achieved". The
forward-looking statements contained in this news release are based
on certain key expectations and assumptions made by the Company,
including satisfaction of regulatory requirements in various
jurisdictions and the Company’s anticipated use of the net proceeds
of the Offering. Forward looking statements involve risks,
uncertainties and other factors disclosed under the heading "Risk
Factors" and elsewhere in the Company's filings with Canadian
securities regulators, which could cause actual results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Although the Company believes that the
assumptions and factors used in preparing these forward-looking
statements are reasonable based upon the information currently
available to management as of the date hereof, actual results and
developments may differ materially from those contemplated by these
statements. Readers are therefore cautioned not to place undue
reliance on these statements, which only apply as of the date of
this news release, and no assurance can be given that such events
will occur in the disclosed times frames or at all. Except where
required by applicable law, the Company disclaims any intention or
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For further information, please
contact:Jeff Kendrick - President and Chief Executive
Officer Phone: (403) 219-0484
Glen Akselrod – President, Bristol CapitalPhone: (905) 326 1888
ext 1glen@bristolir.com
Jeff Walker, The Howard Group – Investor
RelationsPhone: (888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com
Cematrix (TSX:CEMX)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Cematrix (TSX:CEMX)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
