Colabor Group Reports Results for the Third Quarter 2024

SAINT-BRUNO-DE-MONTARVILLE, Quebec, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX:GCL) ("Colabor" or the "Company") reports its results for the third quarter ended September 7, 2024.

Third Quarter 2024 Financial Highlights:

Sales decreased by 1.6% to $162.0 million, compared to $164.7 million for the corresponding period of 2023;

Net earnings from continuing operations were $1.2 million compared to $3.5 million for the corresponding period of 2023;

Adjusted EBITDA(1) decreased by 14.0% to $9.5 million from $11.0 million for the corresponding period of 2023 with an adjusted EBITDA(1) margin to 5.9% of sales compared to 6.7% of sales during the corresponding period of 2023;

Cash flow from operating activities increased to $9.9 million compared to $8.0 million for the third quarter of 2023;

Net debt(2) decreased to $50.7 million, compared to $61.5 million as at December 30, 2023. The leverage ratio(3) is 2.6x as at September 7, 2024, compared to 2.7x as at December 30, 2023.

Table of Third Quarter 2024 Financial Highlights:

Financial highlights

12 weeks

36 weeks

(in thousands of dollars, except percentages, per share data and financial leverage ratio)

2024

2023

2024

2023

$

$

$

$

Sales from continuing operations

162,034

164,700

454,512

462,809

Adjusted EBITDA(1)

9,484

11,034

24,084

25,902

Adjusted EBITDA(1) margin (%)

5.9

6.7

5.3

5.6

Net earnings from continuing operations

1,164

3,539

1,067

5,693

Net earnings

1,113

3,539

996

5,693

Per share - basic and diluted ($)

0.01

0.03

0.01

0.06

Cash flow from operating activities

9,904

7,969

26,627

20,044

Financial position

 

 

As at

As at

 

 

 

September 7,

December 30,

 

 

 

2024

2023

Net debt(2)

 

 

50,749

61,481

Financial leverage ratio(3)

 

 

2.6x