20% revenue growth caps off 20 years of profitability
(All amounts in release are in Canadian dollars)
OTTAWA, November 24, 2021 – Calian Group Ltd. (TSX: CGY), a diverse product and services company providing innovative solutions for the healthcare, communications, learning and security sectors, today released its annual results for the year ended September 30, 2021.
Calian Group Ltd. (the “Company”) reported revenues for the quarter of $128 million, representing a 4% increase from the $123 million reported in the same quarter of the previous year. For the year ended September 30, 2021, the Company reported revenues of $518 million, a 20% increase from the $432 million in the previous year.
Fourth quarter highlights:
- 80th consecutive profitable quarter
- Revenue of $128 million, a 4% increase over Q4’20
- Adjusted EBITDA of $12.4 million, a 35% increase over Q4’20
- Adjusted net profit of $8.9 million, a 54% increase over Q4’20
- Gross margins of 26%, a new record
- New contract signings of $84 million
Full year 2021 highlights:
- 20th consecutive profitable year
- Revenue of $518 million, a 20% increase over FY20
- Adjusted EBITDA of $51.9 million, a 41% increase over FY20
- Adjusted net profit of $37.2 million, a 58% increase over FY20
- Consolidated gross margin of 24% represents the highest annual gross margin performance in company history
- EBITDA margin exceeds 10%
Click here for full report.
“Calian passed the half billion-dollar annual revenue mark for the first time in company history. Our success can be attributed to our employees, who execute our four-pillar growth framework—continuous improvement, customer retention, customer diversification and innovation,” said Kevin Ford, Calian CEO. He continued: “We have never had more technology assets than we have right now and we continue to invest in new assets quarter over quarter. Our unrelenting focus on customer retention means that customer satisfaction remains strong despite the challenges posed by COVID-19. We also diversified our customer base, expanding our military training footprint from Canada only to Europe, becoming one of the leading training partners for NATO in Europe. Calian now has one of the largest diversified Health footprints in Canada. Our pivot to an innovative global growth strategy is working—as a result of the acquisition of Tallysman, we strengthened our antenna offerings, allowing Calian to enter new markets in this vertical, such as electric vehicle manufacturing.”
Adjusted EBITDA for the fourth quarter was $12.4 million, an increase of 35% from $9.2 million in the same quarter of the previous year. For the year ended September 30, 2021, Adjusted EBITDA was $51.9 million, a 41% increase compared to the $36.8 million in the previous year. Adjusted EBITDA has grown nearly 2x (192%) since 2019, when it was reported at $27 million.
Adjusted net profit, which excludes non-cash items related to recent acquisitions, was $8.9 million for the quarter, a 54% increase compared to $5.8 million in the same period of the previous year. For the year ended September 30, 2021, Adjusted net profit was $37.2 million, a 58% increase over the $23.5 million reported in the previous year.
Net profit for the fourth quarter was $1.1 million and $11.2 million for the year ended September 30, 2021, representing a 45% decrease from the $20.4 million in the same period of the previous year, due primarily to the accounting treatment of acquisitions. This marks the 80th consecutive profitable quarter for Calian—20 years of profitability.
“The end of our fiscal year marks multiple key indicators at record levels. Our third consecutive year of double-digit growth, coupled with our highest gross margins and EBITDA margins, indicates our efforts to grow profitably were successful in 2021. In FY22 as in FY21, we will seek opportunities to deploy capital through internal initiatives to harvest our assets, as well as new M&A transactions,” said Patrick Houston, Calian CFO.
Kevin Ford, Calian CEO noted: “Our focus on both organic and acquisitive growth persists, as we welcomed SimFront to the Calian family in early October. Their innovative, immersive learning technologies will strengthen our market offerings in this segment. We continue to pursue acquisitive opportunities aligned to our strategic plan.”
“We pride ourselves in solving significant and complex customer problems—problems that stand in the way of better health, communications, learning and security. But we can’t do this without our dedicated and talented people, who have had to adapt to continue supporting customers throughout the pandemic. At the end of this fiscal year, we find ourselves in a strong position, focused on future growth so we can help more customers in more places succeed and deliver on their objectives,” said Kevin Ford, Calian CEO.
Guidance
Canadian dollars in thousands
- Revenue: Low $550,000, High $590,000
- Adjusted EBITDA: Low $57,000, High $61,000
- Adjusted net profit: Low $39,250, High $42,750
À propos de Calian
Nous faisons avancer le monde. Calian® aide les gens à communiquer, à innover, à apprendre et à mener une vie saine et sûre. Chaque jour, nos employés vivent nos valeurs d’engagement envers le client, d’intégrité, d’innovation, de respect et de travail d’équipe pour concevoir des solutions fiables qui résolvent des problèmes complexes. C’est la confiance. Ingénierie. Entreprise stable et en pleine croissance depuis 40 ans, notre siège social se trouve à Ottawa et nos bureaux et projets couvrent les marchés nord-américains, européens et internationaux. Visitez calian.com pour découvrir des solutions innovantes en matière de soins de santé, de communications, d’apprentissage et de cybersécurité.
Les noms de produits ou de services mentionnés dans le présent document peuvent être des marques déposées de leurs propriétaires respectifs.
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Certaines informations contenues dans le présent communiqué de presse sont de nature prospective et sont soumises à des risques et incertitudes importants. Les résultats ou événements prévus dans ces déclarations peuvent différer matériellement des résultats ou événements réels. Ces déclarations sont généralement accompagnées de termes tels que “avoir l’intention”, “anticiper”, “croire”, “estimer”, “s’attendre à” ou d’autres termes similaires. Les facteurs susceptibles d’entraîner des résultats ou des événements différents des attentes actuelles comprennent, entre autres : l’impact de la concurrence sur les prix ; la rareté des professionnels qualifiés ; l’impact de l’évolution rapide des technologies et des marchés ; la perte d’activité ou le risque de crédit avec les principaux clients ; les risques techniques sur les projets à prix fixe ; les conditions générales du secteur et du marché et les taux de croissance ; la croissance internationale et les conditions économiques mondiales, y compris les fluctuations des taux de change ; et l’impact des consolidations dans l’industrie des services aux entreprises. Pour de plus amples informations concernant certains de ces facteurs et d’autres, veuillez consulter le dernier rapport annuel de la société et les autres rapports déposés par Calian auprès de la Commission des valeurs mobilières de l’Ontario. Calian décline toute intention ou obligation de mettre à jour ou de réviser les déclarations prévisionnelles, que ce soit en raison de nouvelles informations, d’événements futurs ou autres. Rien ne garantit que les résultats, performances ou réalisations réels exprimés ou sous-entendus dans les déclarations prospectives contenues dans la présente communication se produiront ou, s’ils se produisent, que des avantages pourront en être tirés.
Calian – Siège social – 770 Palladium Drive – Ottawa – Ontario – Canada – K2V 1C8
Tel : 613.599.8600 – Fax : 613-592-3664 – General info email : [email protected]
